Purpose of financial reporting Users of Financial reports - Conceptual Framework of financial reporting (Objectives- qualitative features- standards)

Structure of financial statements - Introduction- statements of Financial Position (Balance Sheet)- Statement of Earnings (Profit and Loss Statement)- Cash Flow Statement AS-3 - Additional Disclosure Statements - Overview Need for Additional Statements Auditor’s Report - Director’s Report Disclosure in Corporate Governance Report with reference to Board of Directors- Audit Committee- Remuneration Committee- Grievance Committee- General Body Meeting and other disclosures

AS-2 - Valuation of inventories - AS-9 - Revenue Recognition AS-10 - Accounting for Fixed Asset AS-22 - Accounting for taxes on Income AS-26 - Accounting for Intangible Assets AS-19 - Leases

Ratio Analysis - Liquidity - Solvency Activity - Profitability Analysis - Comparative and Common Size Analysis (Vertical and Horizontal Analysis) - Expanded Analysis - Financial Ratios used in Annual Reports Management use of Financial Analysis - Graphing Financial Information

Introduction of Indian Accounting Standards Concept of accounting standard - meaning of accounting standard - Nature of accounting standard - Objectives of accounting standards - Advantages of accounting standards - Disadvantages of accounting standards - Accounting standard board in India - Applicability of Indian - Accounting Standards Procedure for issuing accounting standard in India AS-1 - Disclosure of Accounting policies.