Commerce

Introduction

Started in the year 1984, the Department of Commerce, having a mission “To Create Global Entrepreneur” and a vision of giving a practical edge to the curriculum along with an emphasis on alround programmes for total Personality Development, always thinks of better future for its students.

Features

• Largest Dept. with good strength.
• Highly qualified, experienced & competent faculty.
• Spacious infrastructure with all modern amenities.
• Adequate Library and Reading Room facility.
• Well-equipped Computer Laboratory with Power Backup and Internet Facility.
• Innovative and practical methods of teaching like Guest lecture, Seminar, Group Discussion, Workshop and Case Study etc.
• Career Guidance and Placement Cell.
• Personality Development & Soft Skills Programmes.

Programme Outcome

1. To develop the skills required for the application of accounting concepts and techniques learned in the classroom at the workplace.
2. To provide competent and technical skills personnel to the industry in the area of Accounting, Finance, Taxation, Cost and Management Accounting.
3. To enhance the employability skills of the commerce students.
4. To enhance the capability of the students improve their decision-making skills.
5. To enhance the capability of the students to make decisions at personal and professional level.
6. To encourage entrepreneurship among students pursuing education in the field of Commerce.
7. To empower students for pursuing professional courses like Chartered Accountancy, Cost and Management Accountancy, Company Secretary, etc.,
8. To ensure holistic development of Commerce students.

Course Outcome

I SEMESTER

Financial Accounting   I

• To enable the students to understand the system of preparing financial statement of sole trading concern and to create an awareness in the students about Financial Reporting Standards.
• The students will be able to prepare and analyse financial statements of sole trading concerns.

Management Principles and Applications

• To enable the students to understand the various functions of management
• Various types of organisations and to create an awareness in the students about application of management principles in business organizations.
• The students will be able to understand and identify the different theories of organization, which are relevant in the present context

. • Compare and chose the different types of motivation factors and leadership styles

 Principles of Marketing

• To enable students to understand the basic concepts and principles of Marketing:
• Students will be able to learn the application of Principles of marketing by business firms

 Managing Workforce

• To enable the students to understand the basics of managing workforce at work place and know the process of selection, training and development.
• The students will be able to manage themselves at work place and know the nuances of managing human resources

II SEMESTER

FINANCIAL ACCOUNTING – II

• To enable the students to understand the maintaining of accounts for various types of business firms including non- profit organizations.
• The students will be able to prepare the final accounts of business firms and NPO and they will be able to account for loss of stock

COMPANY LAW

• To enable the students to understand the types of companies incorporated in India and the promoters involved in forming a company and Company administration till its Liquidation.
• The students will understand the frame work of Companies Act of 2013
• Identify the stages of formation and documents involved in the formation of a company.
• Role of Managerial Personnel and procedure of conducting company meeting

Law and Practice of Banking

• To enable students to acquire specialized knowledge of law and practice relating to Banking.
• Students will understand the conceptual frame work of Banking, classification of Banking, banker and customer relationship and E-Banking services.

Retail Management

• To enable students to understand how the retail business functions and highlight the scope of retail business in India and across the world
• Students will be able to acquire skills required for managing retail business and start their own retail business in the future

III SEMESTER

Corporate accounting

• Understand the treatment of underwriting of shares.
• Comprehend the computation of profit prior to incorporation.
• Know the valuation of intangible assets.
• Know the valuation of shares.
• Prepare the financial statements of companies as per companies act, 2013

Business Statistics

• Familiarizes statistical data and descriptive statistics for business decision making.
• Comprehend the measures of variation and measures of skewness.
• Demonstrate the use of probability and probability distributions in business.
• Validate the application of correlation and regression in business decisions.
• Show the use of index numbers in business

Cost accounting

• Understand concepts of cost accounting & Methods of Costing.
• Outline the Procedure and documentations involved in procurement of materials & compute the valuation of Inventory.
• Make use of payroll procedures & compute idle and over time.
• Discuss the methods of allocation, apportionment & absorption of overheads.
• Prepare cost sheet & discuss cost allocation under ABC

 IV SEMESTER

Advanced Corporate Accounting

• Know the procedure of redemption of preference shares.
• Comprehend the different methods of Mergers and Acquisition of Companies
• Understand the process of internal reconstruction.
• Prepare the liquidators final statement of accounts.
• Understand the recent developments in accounting and accounting standard

Costing Methods and Techniques

• Determination of cost by applying different methods of costing.
• Prepare flexible and cash budget with imaginary figures
• Analyse the processes involved in standard costing.
• Familiarize with the Activity Based Costing and its applications.

Business Regulatory Framework

• Recognize the laws relating to Contracts and its application in business activities
• Acquire knowledge on bailment and indemnification of goods in a contractual relationship and role of agents.
• Comprehend the rules for Sale of Goods and rights and duties of a buyer and a seller
• Distinguish the partnership laws, its applicability and relevance.
• Rephrase the cyber law in the present context.

Business Ethics

• Explain the concepts of business ethics and its approaches.
• Examine the business and organizational ethics in the present context
• Analyze the ethical aspects in marketing and HR areas.
• Analyze the ethical aspects in finance and IT areas.
• Examine the impact of globalization on business ethics

 V SEMESTER

Financial Management

• Understand the role of financial managers effectively in an organization.
• Apply the compounding & discounting techniques for time value of money.
• Take investment decision with appropriate capital budgeting techniques for investment proposals.
• Understand the factors influencing the capital structure of an organization.
• Estimate the working capital requirement for the smooth running of the business

Income Tax Law and Practice – I

• Comprehend the procedure for computation of Total Income and tax liability of an individual. Understand the provisions for determining the residential status of an Individual.
• Comprehend the meaning of Salary, Perquisites, Profit in lieu of salary, allowances and various retirement benefits.
• Compute the income house property for different categories of house property.
• Comprehend TDS & advances tax Ruling and identify the various deductions under section 80.

Principles and Practice of Auditing

•  Understand the conceptual framework of auditing.
• Examine the risk assessment and internal control in auditing
• Comprehend the relevance of IT in audit and audit sampling for testing.
• Examine the company audit and the procedure involved in the audit of different entities.
• Gain knowledge on different aspect of audit reporting and conceptual framework applicable on professional accountants

Indian Accounting Standards-1

•  Understand the need and benefits of accounting standards.
• Prepare the financial statements as Indian Accounting standards.
• Comprehend the requirements of Indian Accounting Standards for recognition, measurement and disclosures of certain items appear in financial statements
• Understand the Accounting Standards for Items that do not appear in
• Financial Statements

  Financial Institutions and Markets

•  Understand the structure of Indian financial system and its constituents.
• Outline the role of capital and money market in economic development.
• Comprehend primary and secondary market and its relevance in capital formation.
• Appraise the role played by banking and development financial institutions in economic development so far.
• Understand the different types of NBFCs and their contribution.

GST-Law & Practice

• Comprehend the concepts of Goods and Services tax.
• Understand the fundamentals of GST.
• Analyse the GST Procedures in the Business.
• Know the GST Assessment and its computation.