Financial Reporting: Concept, objectives, users, benefits and constraints- Framework for the preparation and presentation of Financial Statements to be covered - Salient features of Conceptual Framework laid down by IASB and FASB (USA)
Understanding the contents of financial statements with examples from “Audited Financial Statements” of companies. - Less focus on Funds Flow Statement - Corporate Governance: Meaning, Benefits, Regulatory Framework and Report on Corporate Governance incorporated in “Audited Financial Statements”
Inventory: Objectives of inventory measurement, inventory systems, Accounting for inventories -valuation methods (practical examples) - Accounting for property, plant and equipment includes depreciation and impairment - Accounting for provisions, contingent assets and liabilities, and events after the reporting period.
Practical questions on Ratio Analysis - Examples from “Audited Financial - Statements” to understand management’s use of financial statement analysis and graphing of information - Primary investment, operative and liquidity level ratios - Subsidiary ratios including investment performance indicators such as price/earnings ratio- Analyzing a statement of cash flows - Earnings per share -Limitations of analytical and interpretative techniques.
Concept and types of Accounting Standards, Standard setting process, Convergence with IFRS and its benefits - Requirements for preparation of consolidated financial statements - Consolidated statement of financial position - Consolidated income statement - Investment in associates and joint ventures.
Reference Book:
1. Financial Reporting & Analysis, Eleventh Edition Charles H. Gibson- South-Western Cengage Learning Academic Resource Center, USA- ISBN-13: 978-0-324-65742-5 2. Financial Reporting & Analysis, 3rd Edition- Yousuf Khan - ICSA Publishing , U.K 2017– ISBN 9781860727085
Text Book:
1. Financial reporting And analysis - Prof. Jawahar lal - Dr. Sucheta Gauba- Himalaya publishing house Pvt. ltd.,- Mumbai - 400 004.- ISBN-13- 978-9352739127