4101 Principles of Accounting Course Objectives: The objective of this course titled Principles of Accounting is to develop students' understanding

of accounting process and appreciation of conceptual framework for the same, in order to create their abilities to apply such concepts and principles in maintaining accounts and preparing financial statements. Course contents: 1. Accounting The Language of Business: Purpose and Nature of Accounting Information Uses and Users of Accounting Information. Branches of Accounting-Nature of Business and Accounting. 2. Conceptual Framework for Financial Accounting: First Level: Basic Objectives (SFAC-1); Second Level: Qualitative Characteristics of Accounting Information (SFAC-2) Relevance (predictive value and feedback value), Reliability (Verifiability, Representational faithfulness, and Neutrality), Comparability and Consistency; Basic Elements of Financial Statements (SFAC-6); Third Level: Operational Guidelines Ethics as an Accounting Principle, GAAP: Basic Assumptions, Basic Principles, and Constraints. Accounting Professional Bodies Bodies involved in the process of developing Accounting Concepts, Procedures and Standards. 3. The Accounting Process: Double-Entry Accounting System vis--vis Incomplete System. Accounting Equation Effects of Transactions on the Accounting Equation. Accounting Cycle: Documentary Evidence and Identification, Analysis, and Recording of Transactions and Other Events Journalization Posting to the Ledger Preparation of Trial Balance- Limitations of Trial Balance, Errors and their Rectification- Adjustments Adjusted Trial Balance Preparation of Work Sheet-Closing Entries- Post-Closing Trial Balance, Reversing Entries. 4. Merchandising Operations and Accounting System: Classification of Accounts General Use of Controlling Accounts Plans for Controlling Accounts Selection of Account Titles Chart of Accounts Coding The Voucher System Voucher Forms The Voucher Register Vouchers Payable Subsidiaries Paid Voucher Files. Operating General Ledgers and Subsidiary Ledgers: Control Accounts Subsidiary Ledger Accounts Subsidiary Ledgers. Special Journals: Advantages of Special Journals Cash Receipts Journal Sales Journals Purchase Journal Cash Payments Journal and General Journal. 5. Preparation of Financial Statements: Income Statement Importance of Income Statement Limitations of Income Statement Preparation of Income Statement: Single-Step MultipleStep. Balance Sheet Usefulness of the Balance Sheet Limitations of the Balance Sheet Preparation of Balance Sheet. Statement of Changes in Owner's Equity; Supplementary Statement / Schedules. 6. Financial Statements as a Reporting Device: Financial Statements and Notes to Accounts and Accounting Policies. 7. Accounting for Fixed assets- Determining cost of Fixed Assets; Charging

Depreciation; Methods of Depreciation; Presentation in Financial Statements.

Recommended Texts: 1. Weygandt, Kieso and Kimmel, Accounting Principles. 2. Needles and Anderson, Principles of Accounting. 3. American Accounting Association, A Statement of Basic Accounting Theory (ASOBAT).

4102 Micro and Macro Economics Course Objectives: The aim of this course is to introduce students with the core concepts and theories of micro and macroeconomics, thus providing a foundation for further studies in different branches of the subject. Course Contents: 1. MICROECONOMICS: AN INTRODUCTION Economics and decision making; the economics of a business; a review of important terms and concepts. 2. SUPPLY AND DEMAND Market demand and market supply; market equilibrium; comparative static analysis; elasticity of demand and elasticity of supply; applications of supply and demand 3. THE THEORY AND ESTIMATION OF PRODUCTION The production function; a short-run analysis of total, average and marginal product; the longrun production function; estimation of production function; the importance of production function in decision making; 4. THE THEORY AND ESTIMATION OF COST The importance of cost in decision making; the short-run cost function; the long-run cost function; economies of scale: the short-run versus the long-run; estimation of cost; 5. PRICING AND OUTPUT DECISION: PERFECT COMPETITION AND MONOPOLY Pricing and output decisions in perfect competition; pricing and output decision in monopoly; implication of perfect competition and monopoly for decision making; 6. PRICING AND OUTPUT DECISIONS: MONOPOLISTIC COMPETITION AND OLIGIPOLY Pricing in monopolistic competition; pricing in oligopolistic market: rivalry and mutual interdependence; strategy: the fundamental challenge for firms in imperfect competition; 7. MACROECONOMICS: AN INTRODUCTION Definition; great depression-its importance in the development of macroeconomics; macroeconomics: objectives and policy instruments; 8. NATIONAL INCOME ACCOUNTING National income: a terminological analysis; national income: a methodological analysis; national income and economic welfare; 9. CONSUMPTION FUNCTION The consumption function: a terminological analysis; fundamental psychological law; significance of MPC<1; relationship between savings and consumption function; 10. INVESTMENT FUNCTION Investment: a conceptual analysis; investment: a theoretical analysis; MEC and investment decision; project selection;

11. MULTIPLIER Multiplier in a two-sector economy; income determination and multiplier; operation of multiplier in government sector; income determination and multiplier in an open economy; 12. DEMAND FOR MONEY Demand for money: Fisher and Cambridge; Keynesian demand for money: a comparison;

13. SUPPLY of MONEY Money supply and its constituents; Commercial bank: role of commercial bank in economic development; Central bank: role of central bank in economic development; methods of credit control; 14. INFLATION Demand side and supply side; the Phillips curve; control of inflation: monetary policy and fiscal policy; relative effectiveness of monetary policy and fiscal policy; Recommended Texts: 1. Baumol and Bilnder: Economics: Principles and Policy 2. Kutsoyannis: Advanced Microeconomics 3. Samuelson and Nordhaus: Economics 4.Shapiro: Macroeconmics 5. M. C. Vaish: Macroeconomics 6. Richard Froyen: Macroeconomics: Theory and Policy

4103 Mathematics for business decisions Course Objectives: The objective of the course is to learn how (i) To use the mathematical tools in solving business problems (ii) To increase effectiveness of management decision making process. Course Contents: i. Linear & questions & functions: Scope, Horizontal & vertical lines parallel & perpendicular lines, Drawing of functions of different types, exponential, logarithmic & piecewise linear functions. ii. Equations & Inequalities: a. MPC, MPS, Slope Intercept Formula b. Cost-Output Model c. Break-Even Model d. Demand Supply Equilibrium Models Matrix Vector Concepts: a. Matrix Vector Concepts b. Operations & Business Uses c. Markov chain d. Input-Output Matrix: Uses Mathematics of Finance: a. Compound Interest, Annuity b. Amortization of funds c. Analysis of Sinking Funds d. Continuous Annuity payments Probability Concepts & Uses: a. Distribution, E (x) Bar (x) b. Uses in Inventory Decisions c. Uses in Simulations Differential Calculus: a. Introduction, Limits Functions, experiential & logarithmic functions. b. Differentiation & Marginal Analysis c. Uses of Maxima-Minima Integral Calculus: a. Introduction b. Indefinite integral c. Definite Integral d. Producer's & consumer's surplus

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Text Books: 1. 2. Reference 1. 2. 3.

Mathematics with Applications in Management & Economics: Prechet & Saber . Applied Mathematics for Business Economics, Life Science & Social Science, Barnett & Ziegler. Books: Mathematics and Calculus with Applications : Bittinger & crown Business Mathematics: Soncheti & Kapoor. Quantitative Methods for Management , Render & Stair.

4105 Principles of Finance Course objectives: The objectives of this course are: (1) To provide students with a sound theoretical knowledge on principles and practices of business finance. (2) To make the students conversant with financing and dividend decisions and to give an introductory idea on investment decision. Course Contents: 1. Goals and Functions of Business Finance: Finance and Business Finance, the Financial Manager; Functions of Business Finance (Investment Decisions, Financing Decisions, and Dividend Decisions), Functions of the financial officers Finance in the Organizational Structure of the Firm the Goal of the Business Finance, Profit Maximization versus Value maximization as goals Business Ethics the Agency problems Social Responsibility. Financial Environment Markets and Institutions: The Financial Markets Types of Markets (Physical Asset Markets vs. Financial Assets Markets; Spot Markets vs. Futures Markets; Money Markets vs. Capital Markets; Mortgage Markets vs. Consumer Credit Markets; Primary Markets vs. Secondary Markets; Private Markets vs. Public Markets) Financial Institutions (Direct Transfer, Investment Banking House, Financial Intermediary) The Stock Market (Organized Exchange vs. Over-the-Counter Market); Fiscal Environment Corporate Taxation Tax-Holiday Schemes Accelerated and Other Depreciation Allowances Set-off and Carry-forward of Losses Capital Gains Tax Shield/Tax Savings; Government Investment Policy. Concepts in Valuation: Time Value of Money Time Lines (Point of Time, Period of Time, Cash outflow, Cash inflow and Interest Rate), Future Value and Compounding, Present Value and Discounting, Opportunity Cost Rate, Fair/Equilibrium Value, Net Present Value (NPV), Future and Present Values of an Annuity, Perpetuities, Uneven Cash Flow streams, Fractional (semiannual, quarter, bi-month, or month) Periods, Amortized Loan and Amortization Schedule, Market Value, Economic Value, Internal Rate of Return (IRR) of an Investment. Sources of Financing and Instruments used therein: Short-term Financing (Permanent and Temporary Financing; Trade Credit Financing, Accrual Accounts as Spontaneous Financing, Money Market Credit, Short-term Loans), Intermediate-term Financing (Secured Lending Arrangements Assignment of Accounts Receivables, Factoring Receivables, Inventory Loans; Intermediate-term Debt Term Loans, Revolving Credits, Equipment Financing, Medium-term Notes), Long-term Financing (Long-term Loans; Financing through Issuing Securities Initial Financing Venture Capital, Initial Public Offering Selling Common Stock through Rights Issue Financing through Issuing Debt Securities Private Placements of Securities Issuing Preferred Stock; Option Financing: Warrants, Convertibles, and Exchangeables; Lease Financing); Factors Affecting a Companys Choice of Finance. Cost of Capital: Capital Components and their Costs; Cost of Debt Cost of Irredeemable Debentures, Cost of Redeemable Debentures, Cost of Bank Loans and Overdrafts; Cost of preferred stock, Cost of Common Equity: Cost of Retained Earnings CAPM Approach, BondYield-plus-Risk-Premium Approach, Dividend-Yield-plus-Growth-Rate, or Discounted Cash Flow (DCF) Approach; Cost of Newly Issued Common Stock or External Equity; Composite or Weighted Average Cost of Capital (WACC), Rationale for WACC, Marginal Cost of Capital (MCC) MCC Schedule, Break Points; Factors That Affect the Cost of Capital; WACC, Investment Opportunity Schedule (IOS) and MCC; Problem Areas in Cost of Capital. Capital Structure and Leverage: Capital Structure Policy, Target Capital Structure, Gearing and Business and Financial Risks, Leverages: Concept of Leverage - Operating Leverage Financial Leverage - Financial Leverage and Trading on Equity - Combined Total Leverage Scope and Limitations of Leverage; Determining the Optimal Capital Structure EBIT/EPS Analysis, The Effect of Capital Structure on Stock Prices and the Cost of Capital, Capital Structure Theories Net Operating Income (NOI) Approach, Net Income (NI) Approach, Modigliani and Millers Theory, Effects of Taxes, Effect of Bankruptcy Costs, Trade-Off

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Theory, Signaling Theory; Factors Considered While Making Capital Structure Decisions, Variations in Capital Structures. Dividend Policy: Dividend Decision as a Financial Management Decision, Forms of Dividends, Dividend vs. Capital Gains and Investors Preference, Dividend Theories: Miller and Modiglianis Dividend Irrelevance Theory, Gordon and Lintners Bird-in-the-Hand Theory and Tax Preference Theory; Other Dividend Policy Issues Information Content, Clientele Effect, and Dividend Irrelevance; Dividend Stability; Establishing Dividend Policy Residual Dividend Model, Fixed Dividend (Fixed DPS, Fixed Payout Ratio), Low-Regular-Dividend-plus-Extra, Rationale for Low and High Payout Ratios, Dividend Payment Procedure, Changing Dividend Policies, Dividend Reinvestment Plan, Factors Influencing Dividend Policy, Stock Dividends and Stock Splits, Stock Repurchases and Impact on Dividend Policy. Capital Budgeting: Introductory knowledge about Capital Budgeting Methods of Evaluation of Mutually Exclusive Projects.

Text Books: 1. Brigham, Eugene F. and Joel F Houston, Fundamentals of Financial Management (Fort Worth: The Dryden Press and Harcourt Brace College Publishers). 2. Van Horne, James C., Financial Management and Policy (Prentice-Hall). Additional Readings: 1. Ross, S. A., R. W. Westerfield and B. D. Jordan, Fundamentals of Corporate Finance (Irwin and McGraw-Hill). 2. Van Horen, James C and Wachowicz, Jr., Fundamentals of Financial Management. 3. Weston J. F. and E. F. Brigham, Essential of Managerial Finance. 4. Bringhan, Egene F. and Louis C. Gapenski, Intermediate Financial Management. 5. Ghosh, S. N., J. C. Sukladas and M. Ahmed, Choice of Banks, Customers Service and Credit Policy.

4201 Business Taxation Course Objective: This Course intends to provide the students a clear idea about the taxation principles and the taxes that affect business entities in Bangladesh Course Contents: 1. Taxation: An Introduction Public Finance and Tax as a Source of Public Revenue, Other Sources of Public Revenue vs. Taxation, Public Finance vs. Private Finance, Importance of Public Finance, Definition of Tax, Characteristics of Tax, Objectives of taxation, Principles of taxation, Characteristics of a Good Tax 2. Incidence of Taxes Impact, Incidence and Effect of a Tax Shifting of Tax Incidence Demand and Supply Theory of Tax Shifting Additional Factors Influencing Tax Shifting General Effects of Taxation 3. Classification and Choice of Taxes Classification Taxes (on the basis of: Number of taxes, Impact and incidence of taxes, Structure of tax-rates, Subject-matter of taxes, Elasticity of taxes, Classification of tax-bases, Increase or decrease in public revenue, and Collector of taxes); Choice of Taxes between Proportional and Progressive taxes, Choice of Taxes between Direct and Indirect taxes; Tax Structure in Bangladesh 4. Business Taxation: An Introduction Business Enterprises as a Taxpayer (Sole-proprietorship, Partnership, and Company), Pass-Through vs. Non-Pass-Through Entities, Legal Taxpayer vs. Real Taxpayer 5. Direct Taxation in Bangladesh A. Income Taxation Assessment Cycle under Income Tax Obligations under Income Tax Laws Tax-base, Tax period, Tax rates and Taxpayers Status and Residence Non-assessable income Investment tax credit Tax rebate on tax-free income Tax relief Carry-forward and Set-off of Losses Tax holiday Accelerated depreciation Income Tax Assessment for Business Entities (Soleproprietorship, Partnership, and Company): Computation of Total Income (Salary income, Interest on securities, Income from house property, Agricultural income Income Tax Rates and Determination of Income Tax LiabilityIncome from business or profession, Share of income from partnership firm, Income of spouse or minor child, Capital gains, Income from other sources, Foreign income), Assessment of Business Entities. B. Property Taxation Property-related Taxes under Income Tax Laws Gift Tax: Charge of Gift Tax Taxable Gifts Exemptions from Gift-tax Determination of the value of Gifts Return of gifts Gift Tax payable Penalty Prosecution Assessment procedures Rates Authorities 6. Indirect Taxation A. Border Taxation Objectives of Customs Act Customs Procedure Statutory Definitions of Important Terms Duties under the Customs Act 1969 [General Customs Duty (import/export duty), Regulatory Duty, Countervailing Duty, Anti-dumping Duty, and Safeguard Duty] Rates of Duties Duties, Taxes and Other Charges Collected by Customs Authority at Import Stage [Customs Duty (CD), Supplementary Duty (SD), Value Added Tax (VAT), Advance Income Tax (AIT), and Advance Trade VAT (ATV)] Computation of Duties and Taxes at Import Stage Duty Drawback B. Excise Taxation Excise duty, Objectives, Current coverage of excise taxation C. Value Added Tax (VAT)

Concepts, Advantages and Disadvantages, Arguments for and against VAT, Computation of VAT, Coverage, Tax rates and Tax points of VAT in Bangladesh; Taxes under the VAT Act in Bangladesh; Obligation of taxpayers under the VAT laws Registration, Enlistment for Turnover Tax or Enlistment for Cottage Industry Payment of VAT Submission of Return Maintenance of Books of Accounts and Records VAT Audit Offence and Penalties Confiscation Appeals and Revisions Recovery of claim VAT Refund. References: H. L. Bhatia, Public Finance (New Delhi: Vikas Publishing House Pvt. Ltd.). Richard A. Musgrave & Peggy B. Musgrave, Public Finance in Theory and Practice (New York: McGraw-Hill Book Company). The Income Tax Ordinance 1984 and the Income Tax Rules 1984 (updated). The Customs Act 1969. The Value Added Tax Act and Rules 1991. The Excise and Salt Act 1944. The Gift-tax Act 1990. The Finance Acts/Ordinances. Summary of Taxation Rules in Bangladesh (MCCI, Dhaka).

4202 Introduction to cost and management accounting Course Objectives: The objective of the course is to give the students basic understanding about the concepts, techniques, and methods of cost and management accounting so that they are in a position to understand and calculate cost of production & analyze the costs for effective management of costs and use these for managerial decision making and control purposes. Another related objective of the course is to expose students to the knowledge of cost behavior and the use of the concept for decisionmaking and budgeting. Upon completion of this course the student will be expected to demonstrate an understanding of how to use accounting data for determination of costs, budgeting, cost control, pricing, evaluation of performance which is very essential for facing the challenges of the contemporary business world. Course Contents: 1. Management accounting and business environment: The work of management and the need for managerial accounting comparison of financial and managerial accounting expanding role of managerial accounting the changing business environment international competition organizational structure professional ethics The Certified Management Accountant. 2. Cost Concepts and Classification: Concepts of Cost Cost, Expense, Loss and Assets Classification of Costs: Manufacturing vs. Non-manufacturing Costs, Basic Elements-wise Costs, Product vs. Period Costs, Costs in Relation to the Object costed, Behavioral Classification, Functional Classification, Classification in terms of Controllability, Classification on the basis of Time when Computed, Classification for Decision Making, Classification on Financial Statements Cost Centers and Cost Unit Cost Object Cost Accounting Cycle Factory Cost Flow Cost Sheet Cost Statements Basic Cost Accounting Principles and Cost Concepts. 3. Accounting for Elements of Cost of Production: A) Material: Purchasing ,Storing and issue of Materials to production and - Need for Materials Control and the methods of material control Control of Spoilage or Waste Perpetual vs. Periodic Inventory Methods of valuation of issues of materials to production. B) Accounting for Labour: Direct and Indirect Labour Labour Cost Records -Payroll Records Methods of remunerating the laborers= Charging Labour Costs to Production Idle time- Overtime Treatment of Overtime Cost C) Accounting for Chargeable Expenses: Chargeable Expenses Distinguishing Features Treatment of Items of Chargeable Expenses Difference between Chargeable Expenses and Overhead Expenses. D) Accounting for Overheads: i) Introduction to Overheads: Definition Classification of Overheads (Functional, Element-wise and Behavioral) Accumulation and Allocation of Factory Overhead Classifying Factory Overhead Costs Accumulating Actual Factory Overhead Costs Departmentalizing Factory Overhead - Recording Factory Overhead Costs Distributing Service Department Costs Methods of Allocating Service Department Costs (Direct Method, Step Method, Equation/Algebraic Method) Recording the Allocation of Overhead Costs. ii) Applying Overhead to Production: Application of Factory Overhead Predetermined Factory Overhead Rate Applying Factory Overhead Recording Applied Overhead Accounting for Under- and Over-Applied Factory Overhead.Introduction to Activity-Based Costing (ABC) for Allocating Overheads.

E) Accounting for Non-manufacturing Overheads: Administrative, Selling and Distribution Overheads. 4. Cost Sheet/Statement of Cost of Goods Manufactured: Definition Unit Cost Cost of Materials Available Cost of Materials Consumed Prime Cost Works Cost Total Current Manufacturing Costs Total Cost of Goods in Production Cost of Goods Manufactured Cost of Goods Sold Cost of Sales Determination of Selling Price, Tender Price or Quotation or Bid. 5. Methods of Costing : i) Introduction to Job order costing - an overview- flow of costs- problems of overhead application- job order costing in service companies - Batch Costing Contract Costing. ii) Process Costing: Comparison of job order and process costing a perspective of process cost flow equivalent units of production- production report: weighted average method- FIFO method - operation costing 6. Cost behavior: analysis and use: Types of cost behavior patterns- the analysis of mixed costs the contribution format-least square regression calculations. 7. Cost-volume- profit relationships: The basics of CVP analysis- CM ratio- break even analysisCVP considerations in choosing a cost structure- structuring sales commissions- the concept of sales mix assumptions of CVP analysis. 8. Variable costing: Overview of absorption and variable costing income comparison of absorption and variable costing extended comparison of income data effect of changes in production on net income choosing a costing method impact of JIT inventory methods. 9. Profit planning: The basic framework of budgeting preparing master budget zero based budgeting international aspects of budgeting-EOQ and the reorder point. Flexible budgets and overhead analysis: Flexible budgets- variable overhead budgets- overhead rates and fixed overhead analysis. Recommended Text: 1. Garrison, R.H. and Noreen, E.W., Managerial Accounting, Irwin McGraw-Hill, Boston. 2. Polimeni, Ralph S., Frank J. Fabozzi, and Arthur H. Adelberg, Cost Accounting: Concepts and Applications for Managerial Decision Making (New York: McGraw-Hill, Inc.). Reference Books: 1. Prasad, N.K., Principles & Practice of Cost Accounting, Book Syndicate Private Ltd. 2. Lal, Jawahar, Cost Accounting (New Delhi: Tata-McGraw Hill). 3. Bhattacheryya, Ashish K., Principles and Practice of Cost Accounting (New Delhi: Wheeler & Co. Ltd.). 4. Iyengar, S.P., Cost Accounting: Priciples and Practice (New Delhi: Sultan Chand & Sons). 5. Gupta, D.R. and R.K. Gupta, Purchasing & Store-keeping, Tata McGraw Hill.

4204 Principles of management Course Objective: This course aims at exposing students to the Theory and Practice of Management, an important profession and is recognized as the fifth factor of production. Course content: 1. Meaning and Significance of Management: Definition, Nature, Principles and Techniques of Management- Administration vs. Management-Skills, Effectiveness and Efficiency of Management-Management as Resource and as Profession, Sub-areas of Management: Operations, Finance, Marketing, etc., Scopes: Business Organizations: Proprietorships, and Corporations, Government Organizations, NGOs, Religious Organizations, etc.-Theories of Management. 2. Planning: Meaning, importance, steps, setting of strategic plans-Factors to be considered in formulation of a sound plan-Types of plans-Need for long-range plans-Setting Vision, Mission, Goals, Objectives-Steps in Planning-Planning by Business and Non-business firms in Bangladesh-Planning Environment-Managerial Decision Making. 3. Organizing: Meaning, importance-Organization structure-Organization charts and ManualsDepartmentalization and its basis- Delegation -Centralization and Decentralization-Need for Decentralization-Condition of Decentralization Committee System -Objectives and Benefits of Committees-Committee types organizing practices in Bangladesh. 4. Directing and Leading: Nature of directing and leading -Features of good directing Elements of Consultative Directing and benefits- Leadership, Theories of Leadership - Leadership styles of Bangladesh Managers- Managing small groups. 5. Motivation: Meaning and significant-Tools of Motivation-What managers, employees and worker want to get out of the jobs-Result based reward-Measurement of Human motivationMotivation Theories. 6. Controlling: Meaning and Significant-Feature of good Control System-Setting Control Standards-reporting and feedback-Budgetary Control System-Budget as Motivation toolManagement by Objective (MBO) -Management by Exceptions (MBE) -Behavioral Aspects of control-Management Information System (MIS), Production and Operation Control. 7. Coordination: Meaning - Significance - Tools of Coordination. 8. Performance Evaluation of Managers: Evaluation of Manager's Performance - Necessity Methods: Objective methods - Judgmental methods - Judgmental errors - Feedback; ACR, Promotion of Managers, Criteria of Good Promotion System, Management Audit. 9. Management Development: Necessity of Management Development, Training and Development, Benefits, On-the-job and Off-the-job training, Higher Assignments. 10. Organizational Development (OD) and Managing the Change: Organizational Development, Quality Management, Changes in the Environment, Internal and External, Resistance to Change, Managing the Change, The Responsibilities of Managers: Economic, Social and Environmental Globalization and New Challenges - Managers in the Free Market Economy Context. Books Recommended: 1. Essentials of Management, Koontz, O'Donnel and Weilrich, Mcgraw Hill Book Company, USA. 2. Management, Ricky W. Griffin, Houghton Mifflin Company, Boston, USA. 3. Management, Robert Kreitner, Houghton Mifflin Company, Boston, USA. 4. Management, Herbert G. Hicks and C. Ray Gullett, McGraw-Hill International Book Company, New York, USA. Management, G. R. Terry, Houghton Mifflin Company, Boston, USA.

4205 Business Statistics Course Objectives: 1. To develop a general understanding of the theories and practices of statistical approaches to estimation, probability distribution, mathematical expectation and other business decisions. 2. To develop an understanding of formulation of hypothesis and other tests of both parametric and non parametric type applied in the area of business. Course Contents: 1. Introduction: Concepts of Statistics, Data Collection, Tabulations, Classification, & Frequency Distribution of different types. 2. Descriptive Statistics: Graphical representation, Measures of Central Tendency, Dispersion & Shape of Distribution 3. Probability: Definition, Classical Relative Frequency definition, Subjective Probability, Rules & Theories. 4. Correlation & Regression: Simple Correlation & Regression Multiple Correlation & Regression. 5. Discrete Probability Distributions: Binomial Distribution Poisson Distribution mathematical Expectation & Uses. 6. Normal Distribution: Properties, Use of area under Normal Curve. 7. Sampling and Sampling Distributions: Type of Sampling, central limit Theorem, Sampling Distribution of Mean & Proportions. 8. Test of Hypothesis: Z-test, t-test, Fresher's Z- transformation, Chi-square test, F-test. 9. Non-parametric Tests: Sign test, Mann-Whitney U-test, Kruskail-Wali's K-test. 10. Index Number & Time series and Business Forecasting : Introduction: Types if indices, Cost of living Index, cases of index numbers components of Time series curve filting, forecasting methods. 11. Statistical Quality Control: TQM & Acceptance Sampling Plans control charts of different types. Text Books: 1. Statistics for Management by Levin & Rubin. 2. Basic Business Statistics: Concepts & Applications by Mark L. Berenson & David M. Levine. 3. Business Statistics: S.P. Gupta & M.P.Gupta 4. Statistical Techniques in Business and Economics: Robert D. Masson and Dauglal L King. 5. Business Statistics: Contemporary Decision Making, Ken Black. 6. Business Statistics by Exan Ples: Terry Siuchioh.

6101 Contemporary Financial Accounting Course Objectives: This course introduces some issues like financial statements, cash flow statements, accounting policies, events after the balance sheet, foreign exchange transactions and translations, on the basis of contemporary accounting standards like IAS/IFRS. This course also covers issues relating to Valuation of assets, goodwill, and business, Re-organization and Reconstruction of companies (both internal and external) as conglomeration is a very common phenomenon in the contemporary business environment. Course Contents:
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Accounting- an information System; Reporting through Financial Statements; Conceptual Framework of Accounting; Qualitative Characteristics of Accounting Information; Fair Presentation and Reporting
IntroductionAn overview of the reporting environment- Users of general purpose financial statements, external financial reporting regulation, adoption of accounting standard issued by the IASB,A critical review of the conceptual framework. Preparation of Financial Statements: Components of financial statement, overall consideration in preparation of financial statement, structure and content of financial statement, preparation of financial statements(Except cash flow statement) according to IAS 1 Cash Flow Statement: Comparison with other financial statement. Classification of cash flow, format of cash flow statement, preparation of cash flow statement as per IAS 7. Accounting Polices, Changes in Accounting Estimates and Errors: Selection and application of accounting policy, changes in accounting policy, changes in accounting estimate, accounting errors, limitation of retrospective application and restatement, disclosure requirement. (IAS 8) Events After the Balance Sheet: Adjusting event, non adjusting event and their accounting treatment and disclosure requirement. (IAS 10)

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Valuation Concept- Historical Cost Principle and Current Price. Valuation of Fixed Assets , Current Assets, Goodwill , and Shares Reorganization and Reconstruction of the Company: Internal Reconstruction; Reconstruction Schemes; Incorporating the reconstruction scheme into books of accounts Accounting for Conglomeration- External Reconstructions: Amalgamation; Absorption; Determination of Purchase Consideration; Recording the schemes of Amalgamation & Absorption in Books of Accounts
Earnings Per Share: computation of basic EPS and dilutive EPS(IAS 33) Foreign Exchange Transactions and Translations: Elaboration and definitions, reporting of foreign currency in the functional currency, use of presentation currency other than functional currency, tax effect of all exchange differences.(IAS 21)

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Recommended Texts and references: 1. Baker, R. E., V. C. Lembke, and T. E. King., Advanced Financial Accounting, McGraw-Hill Irwin, NY. 2. Company Accounting Clift & Navaratnam. 3. Advanced Accounting Hanif & Mukherjee 4. IFRSs issued by the IASB. 5. Craig Deegan and Grant Samkin, Fianancial Accounting, McGraw-Hill Irwin, New York: 6. FASB Pronouncements (Available at http://www.fasb.org)

6102 Corporate Tax Management Course Objective: The objective of the course is to acquaint the participants with the implications of both direct and indirect tax laws with a view to integrating the relevance of the laws with corporate profit planning and managerial decision-making. Course Contents: 1. Corporate Tax Management: Corporate Tax Management An Introduction: Corporate Entities and Corporate Income Tax Rates Why Tax Planning ArisesTax evasion, Tax avoidance, Tax planning, and Tax Management Tax ResearchTax Function ActivitiesTax Compliance and Tax Planning ActivitiesTraditional Tax Planning TechniquesTax Planning Principles, Factors Affecting Tax Planning, Critical Variables of Traditional Tax Planning in Business. 2. Tax Planning and Tax Legislation: Types of tax planning, Restriction on taxpayer behavious, Legislative process and Sources of tax information 3. Intertemporal Tax Planning using alternative Savings Vehicles: Constant Tax Rates, Changes in Tax Rates and Implications for Bangladesh 4. Inter-Entity Tax Planning: Organizational Forms for Producing Goods and ServicesNonTax Advantages of Operating in Corporate FormChanging Preferences for Organizational Forms Induced by Tax-Rule Changes 5. Implicit Taxes, Clienteles and Arbitrage: Implicit Taxes Tax-Favored Status and Implicit Taxes, Implicit, Explicit and Total Tax Rates, Importance of Adjusting for Risk Differences ClientelesImplicit Taxes and Corporate Tax BurdensTax ArbitrageOrganizational-Form Arbitrage, and Clientele-Based Arbitrage. 6. Nontax Costs of Tax PlanningSymmetric Uncertainty, Progressive Tax Rates, and Risk TakingTax Planning in the Presence of Risk-Sharing and Hidden-Action ConsiderationsTax Planning in the Presence of Hidden-Information ConsiderationsTax Planning and Organizational DesignConflicts Between Financial Reporting and Tax Planning 7. Importance of Marginal Tax Rates and Dynamic Tax Planning Considerations: Marginal Tax Rate: Definitional IssuesTax Planning for Low Marginal Tax Rate FirmsAdaptability of Tax PlansReversibility of Tax PlansAbility to Insure Against Adverse Changes in Tax StatusTax Planning When a Taxpayers Marginal Tax Rate is Strategy-Dependent 8. Corporate Compensation Planning: Salary versus Deferred CompensationSalary versus Fringe BenefitsOther issues in compensation planning. 9. Specific Planning Aspects for Incomes/Deductions/Losses: Corporate Tax Planning for Incomes Tax Planning for Deductions Tax Planning for Losses. 10. Deferred Taxation and Tax Planning: Corporate Compliance with IAS Regarding Income Tax: IAS 12 (revised 2000), Income Taxes and Computation of Deferred Tax and Tax Planning issues. Suggested Readings: Lakhotia, R. N., and S. Lakhotia. 1998. Corporate Tax Planning. New Delhi: Vision Books. Palkhivala, N. A., and B. A. Palkhivala. 1976. Kanga and Palkhivalas the Law and Practice of Income Tax Volume I. Bombay: N. M. Tripathi Private Ltd. Rajaratnam, S. 1994. Tax Management. Madrsa, India: Forum for Legal Studies Pvt. Ltd. Scholes, Myron S. and Mark A. Wolfson. 1992. Taxes and Business Strategy: A Planning Approach. Englewood Cliffs, New Jersey: Prentice-Hall, Inc. Scholes, Myron S., Mark A. Wolfson, Merle Erickson, Edward L. Maydew and Terry Shevlin. 2002. Taxes and Business Strategy: A Planning Approach. Upper Saddle River, New Jersey: Prentice-Hall.

Shuklendra, A., and M. G. Gurha. 1992. Tax Planning under Direct Tax. Allahabad: Modern Law House. Sommerfeld, R. M., H M. Anderson and H. R. Brock. 1980. An Introduction to Taxation. New York: Harcourt Brace Jovanovich, Inc. Sommerfeld, R. M., H M. Anderson, H. R. Brock, R. Boley, J. H. Boyd, A. C. Fowler, J. L. Kramer, S. A. Madeo, M. L. Moore, G. F. Streuling and J. E. Wheeler. 1980. An Introduction to Taxation: Advanced Topics. New York: Harcourt Brace Jovanovich, Inc. Webley, P., H. Robben, H. Elffers, and D. Hessing. 1991. Tax Evasion An Experimental Approach. Cambridge: Cambridge University Press. Supporting and Essential Readings: 1. The Income Tax Ordinance 1984 and the Income Tax Rules 1984 (updated). 2. The Customs Act 1969. 3. The Value Added Tax Act 1991. 4. The Excise and Salt Act 1944. 5. The Gift-tax Act 1990. 6. The Finance Acts (Latest). 7. Annual Financial Statement (Budget Estimate). 8. Annual Reports of the National Board of Revenue. 9. Summary of Taxation Rules in Bangladesh (MCCI, Dhaka).

6103 Strategic Management Course Objectives: This course is designed to train students so that they have sufficient knowledge to apply management steps in a complex real world situation. Course Contents: 1. The nature of strategic management: What is strategic management? Key terms in strategic management the strategic management model benefits of strategic management guidelines for effective strategic management business ethics and strategic management global competition. 2. The business mission and vision: Mission Vision Importance of vision and mission statements characteristics of a mission statement writing and evaluating mission statements. 3. The external assessment: The nature of an external audit The industrial organization (I/O) view economic forces social, cultural, demographic and environmental forces Political, Governmental and Legal forces Technological forces competitive forces Porters five forces model sources of external information forecasting tools and techniques External Factor Evaluation Matrix Competitive Profile Matrix. 4. The internal assessment: The nature of an internal audit The resource based view integrating strategy and culture management marketing accounting/financeproduction/operations research and development management information systems the value chain Internal Factor Evaluation Matrix. 5. Strategies in action: Long term objectives types of strategies (Integration, intensive, diversification and defensive strategies) the balanced scorecard Michael Porters generic strategies means for achieving strategies outsourcing strategic management in non-profit and governmental organizations. 6. Strategy analysis and choice: A comprehensive strategy formulation framework the input stage - the matching stage (SWOT, SPACE, BCG, IE, GSM) the decision stage (QSPM) cultural aspects of strategy choice the politics of strategy choice governance issues. 7. Implementing strategies: Management and Operations issues: Annual objectives policies resource allocation managing conflicts matching structure with strategies restructuring and reengineering linking performance and pay to strategies managing resistance to change creating a strategy supportive culture production/operations concerns when implementing strategies Human resource concerns when implementing strategies. 8. Implementing strategies: Marketing, finance/accounting, R&D, and MIS issues: Marketing issues- finance/accounting issues- R&D issues MIS issues. 9. Strategy review, evaluation and control: A strategy evaluation framework- the balanced scorecard Characteristics of an effective evaluation system contingency planning auditing 21st century strategic management challenges. 10. Strategic management case analysis: What is a strategic management case? Guidelines for preparing case analysis Preparing a written case analysis making an oral presentation. Recommended Text: David, F.R., Strategic Management Concepts and Cases, Prentice-Hall of India Private Limited, New Delhi.

6201 International Financial Management Course Objectives: The world has become small due to tremendous development in communication system. With this international business has increased many folds. Business organizations have also become multi-nationals. Multinational corporations are affected by exchange rate movements of different currencies. Therefore, financial management of MNC must get special attention. The objectives of offering a course on international finance are as follows: a) To explain the nature, scope, and environment of international finance; b) To discuss the mechanism and instruments of international finance; c) To explain issues relating to exchange rate determination; d) To discuss various instruments of international payments; and e) To discuss issues relating to risk management. Course Contents: 1. Introduction: Multinational Financial Management: Goal of the MNC Theories of International Business International Business Methods International Risk Exposure International Flow of Funds Factors affecting International Trade Flows Correcting a balance of Trade Deficit International Capital Flows Agencies that facilitate international flows International Financial Markets. 2. Currency Exchange: Exchange Rate Determination Exchange Rate Equilibrium Factors influencing exchange rates Currency Derivatives: Currency Forward- Futures Options: Put option Call option Straddles. 3. Exchange Rate Behavior: Government Influence on Exchange Rates Government Intervention International Arbitrage and Interest Rate Parity Relationships among Inflation, Interest Rates, and Exchange Rates. 4. Exchange Rate Risk Management: Forecasting Exchange Rates Measuring Exposure to Exchange Rate Fluctuations Managing Transaction Exposure Managing Economic Exposure and Translation Exposure. 5. Long Term Asset and Liability Management: (a) Direct Foreign Investment: Motives for Direct Foreign Investment Benefits of International Diversification Multi-national Capital Budgeting: Subsidiary versus parents perspectives factors to consider in Multinational Capital Budgeting impact of multinational capital budgeting on MNCs value. (b) Multinational Restructuring Background on Multinational Restructuring Types of Multinational Restructuring Country Risk Analysis multinational Cost of Capital and Capital Structure Long term Financing. 6. Short- Term Asset and Liability Management: Financing International Trade: Payment Methods Short- Term Financing International Cash Management. Text Book: Madura, J. 2003. International Financial Management. 8th Edition. Ohio. OH. South-Western. Reference Books: Damodaran, A. 2006. Corporate Finance: Theory and Practice. 2nd Edition. Singapore. John Wiley & Sons. Shapiro, A. C. 2003. Multinational Financial Management. 7th Edition. Singapore. John Wiley & Sons. Buckley, A. 2003. Multinational Finance. 3rd Edition. New Delhi. Prentice-Hall of India Private Ltd.

Buckley, A. 2004. International Capital Budgeting. New Delhi. Prentice-Hall of India Private Ltd. Sharan, V. 2005. International Financial Management. New Delhi. Prentice-Hall of India Private Ltd. Eiteman, D. K., A. I. Stonehill and D. R. Lessard. 1986. Multinational Business Finance. 4 th Edition. Singapore. Addison-Wesley Publishing Company.

6202 Strategic Management Accounting Course Objectives: During the last two decades there are tremendous changes in the field of management philosophy and also in the manufacturing environment. These changes have caused redundancies in some accounting tools and techniques. Naturally it is an urgent need to review the changes. This course is offered satisfy the following changes: i. to make a review of concepts used in strategic management, ii. To review the recent developments in operations management, iii. To discuss some newly developed techniques of accounting analysis including customer profitability analysis, competitors analysis, benchmarking and balanced scorecard. Course Contents: 1. Accounting for strategic management: Strategic management accounting financial accounting, cost accounting, cost management, management accounting and strategic cost management: how do they relate? two competing models of business: accounting and economic broad scope MAS information theoretical perspectives of management accounting. 2. Vision, mission, goals, objectives and strategy typology: Vision and mission statement strategy goals objectives strategic decisions strategic business unit types of strategy environmental uncertainty. 3. The basics of management control: Management control effectiveness of management control systems economy, efficiency and effectiveness- business unit strategy and management control systems competitive strategy and costing systems business unit mission and incentive systems. 4. Cost allocations, activity based costing and activity based management: Cost allocation to products and services activity based costing steps in the ABC methodology traditional cost systems and ABC: how do they differ? limitations of ABC Activity based management. 5. Advanced manufacturing technology, JIT, target costing, and product life cycle costing: AMT - production management strategies- JIT JIT Vs. traditional manufacturing JIT and automation JIT and ABC target costing Product life cycle costing. 6. Quality costing, TQM and management accounting systems: Quality and its dimensions quality costs Taguchi quality loss function- TQM dimensions of TQM culture Kaizen. 7. Value chain analysis and accounting: Value chain concept value added analysis vs. value chain analysis Porters value chain framework corporate value chain management accounting systems in the value chain framework. 8. Customer profitability analysis: Customer profitability analysis and its relationship with ABM The implementation of Customer profitability analysis profiles of customers by sales revenue, order size and age group income statement by customer. 9. Competitor analysis: Importance, ingredients and basic steps of competitor analysis sources of information for competitor analysis problems with competitor analysis the management accountants role in competitor analysis. 10. Measuring non-financial performance and the balanced scorecard: The importance of non-financial performance measures key non-financial performance measures- building a strategic performance measurement system performance measures in uncertain environment Balanced scorecard arguments for the adoption of BSC- BSC in public sector- TQM and BSC linkage. 11. Benchmarking: Benchmarking- types process the relationship between benchmarking and TQM management accounting for benchmarking. Recommended Text: Hoque, Z., Strategic management accounting: Concepts, processes and issues, Spiro press, USA.

6203 Contemporary Auditing Course Objectives : To introduce Auditing as an independent discipline; to give exposure about various auditing concepts and theories ; and to give a complete idea of an auditing cycle. Course contents: 1. Introduction : Nature of auditing Distinction between Auditing and Accounting Types of Auditing-Operational Audit-Financial Statements Audit-Compliance Audit-Interim Audit-Final Audit-Complete Audit-Internal Audit-External Audit-Government Audit-Types of Auditors : Internal and External : Chartered Accountants Government Auditor. Economics of Auditing Reduction of Information Risk. Objectives of an Audit : Primary objectives-Secondary objectives : Errors and Defalcations-Reporting on Internal control Constructive advice-How to achieve objectives? The Accounting Framework : Fundamental Accounting concepts : Going concern, Accruals, Consistency, Prudence-Accounting bases-Accounting Policies Accounting Conventions Accounting Rules. 2. Auditing Theory : Auditing Theory-Conceptual Framework Axioms of a theory of Auditing Auditing Concepts : Evidence, Due care, Fair presentation, Independence- Ethical conduct Auditing Standards : General Standards-Field work standards- Reporting Standards-Judgement in Auditing Quality Control-Auditing procedures: Substantive and Compliance procedure. 3. Accounting Profession in Bangladesh: Bangladesh Chartered Accountants Bye Laws 1973Certificate of Practice- Certificate of Admissions and Practice-fees-Standing Committees-Executive Committee-Examination Committee-Investigation & Disciplinary Committee-Articled Students Committee-Technical & Research Committee-Admission to Articleship-Service Under ArticleshipExamination & Training. 4. Professional Ethics: Definition Need for Ethics-Independence-Integrity and ObjectivityCompetence-Responsibility to Clients: Confidentiality-Contingent fee-Responsibility to colleaguesOther responsibilities and practices-Acts discreditable-Advertising and solicitation CommissionsIncompatible occupations. 5. Internal Control Concepts : Introduction : Definition of Internal control- Classification of internal controls-Extent and Limitations of Internal control-Essential features of Internal controlOrganizational arrangements- Principles of Internal Control System Design-Internal Accounting controls-Objectives and types : Basic Controls and Disciplines over basic controls-Internal check Internal audit as a Control Factor-Internal control and the Auditor. 6. Internal Control: Study & Evaluation: Introduction Internal Control Questionnaires Ascertaining and Evaluating the system-Flow Charting or Flow Diagram-Flow Charting Techniques Principles of Flow Charting One Dimensional Flow Charting Two Dimensional Flow Charting Rules for Flow Charting Benefits of Flow Charting Overview Flowcharts Specimen documentsNotes on accounting procedures-Transaction reviews. Principles of evaluation of internal control Internal Control Questionnaire-Form of ICQ- Completion of Internal Control Questionnaire-Methods of answering question in ICQ-Assessment of Answers-Relationship of ICQ to compliance testsRecord of Control weakness- Modification procedure-Reporting to clients on internal control weaknesses. 7. Audit Approach : Introduction Overall concept of the audit approach-Determination of the audit strategy-Auditors responsibility in accordance with the terms of the engagement-Familiarization with the clients business-Documentation of Audit Strategy-Detailed under standing of the recording system-Audit evidence-Audit evidence decisions-Persuasiveness of evidence Types of evidenceAudit tests-Reliance on internal control. 8. Administration and Conduct of an Audit : Introduction-Planning for new audits-Acceptance of nomination as an auditor-Reliance on the Accounts for preceding period Letter of Engagement Documentation of Audit strategy-Computer matters-Audit budget-Staff selection- Briefing Audit staff-

Timing of Audit work arrangements for Final audit-Planning for Continuing audits-Controlling audits-Audit files-Audit Programmes Design of the audit programme-Audit Planning and Analytical procedures- Vouching & Verification. 9. Materiality and Risk: Materiality- Set Preliminary Judgement about Materiality- Estimate ErrorRisk-Desired audit risk-Inherent Risk-Control Risk-Detection Risk. 10.Testing Internal Control Procedures : Principles of compliance tests-Testing Internal Control Procedures of Purchases, wages and salaries, Cheque payments, Petty cash, Postage and similar funds-Fixed Assets Stocks & Work- in-progress, Sales, Receipts-Bank Reconciliations-Nominal Ledgers. 11.Auditing Transactions and Accounting Balances : Introduction : Compliance Testing- Substantive testing- Relationship between Compliance & Substantive testing-Analytical review procedures-Tests of Balance Sheet account balances-Tests of Profit and Loss Account balances. Auditing the Revenue and Receipts Cycle : Review Internal control-Compliance tests-Final evaluation of internal control-Substantive audit procedure. Auditing the Purchases and Payment cycle : Substantive audit procedures. Review of Internal control-Compliance tests-

Auditing Inventory : Review of Internal Control-Compliance tests-Substantive tests of inventory account balances. Auditing the Payroll system : Review of Internal control-Compliance tests of Control in the Payroll system-Substantive tests of payroll balances. Auditing other Assets, Equities and Liabilities : Fixed assets-Other asset balances-Tests of owners equity and liabilities-Accounting estimates. Profit and loss Account balances and completing the audit-Substantive tests of Profit and Loss account balances-Completing audit. 11. The Audit Report: Introduction - General considerations : Terminology-Basic Legal requirements-Reference to Accounting Conventions - Signing & Dating Audit report Distinction between Reports and Certificate-Profit, losses and results - Information discovered after the Audit Report is issued-Report Review. Short form report-Long form report-Report drafting-Report comments-Audit report on Group Accounts-Report on special types of accounts-Reliance on other Auditor. Types of Audit Reports - standard Unqualified Audit report-Unqualified audit report with explanatory paragraph or modifying paragraph. Qualifications in Audit Report : Introduction Definition of a Qualified Audit report-Structure of a qualified Audit Report-Conditions requiring a Departure-Type of Opinion-Qualifications on Uncertainty-Qualifications on disagreement-Guidance on Qualified Report-Reference on Notes to the Accounts'-Representation by Management. Books Recommended : 1. The Bangladesh Chartered Accountants Order, 1973. 2. Ricchiute, D.N., Auditing and Assurance Services, South-Western Thomson Learning, USA.

5101 Corporate Financial Accounting Course Objectives: The objective of this course is to introduce the students with company accounts, business combinations and consolidated financial statements. Course Contents: 1. Corporations: The corporate form of organization- its distinguishing features its process of formation - accounting for common stock issues preferred stock statement presentation and analysis dividends retained earnings. 2. The income statement, the balance sheet and statement of changes in owners equity: Importance of measuring and reporting income nature of income income statement reporting changes in retained earnings purposes and limitations of balance sheet content of balance sheet. 3. Corporate expansion and accounting for business combinations: Development of multi corporate entities expansion through business combinations accounting and reporting alternatives purchase and pooling of interests criteria for pooling of interests. 4. Reporting inter-corporate investments in common stock: Methods of reporting investments in common stocks the cost method the equity method the cost and equity method compared evaluation of the cost and the equity methods additional considerations relating to the equity method. 5. The reporting entity and consolidated financial statements: Usefulness and limitations of consolidated financial statements subsidiary financial statements- consolidated reporting decisionsoverview of the consolidation process- non-controlling interest effect of purchase versus pooling accounting on consolidation- combined financial statements- different approaches to consolidation. 6. Consolidation as of the date of acquisition: Consolidation work papers- preparation of consolidated balance sheets immediately following acquisition of full ownership - preparation of consolidated balance sheets immediately following acquisition of controlling interest inter-corporate receivables and payables. 7. Consolidation following acquisition: Overview of the consolidation process 100% ownership controlling ownership purchased at book value controlling ownership purchased at more than book value treatment of other comprehensive income discontinuance of consolidation additional considerations relating to the assignment of differential disposal of differential-related assets by subsidiary. 8. Inter-corporate transfers: Overview of the consolidated entity- asset transfer involving land, depreciable assets and amortizable assets. 9. Inter-company inventory transactions: General Overview- downstream and upstream sale: perpetual inventory system- summary of inter-company inventory transactions inter-company transaction under a periodic inventory system Inter-company inventory transactions: fully adjusted equity method and cost method. 10. Inter-company indebtedness: Bond sale directly to an affiliate bonds of affiliate purchased from a non-affiliate- inter-corporate leasing transactions. 11. Consolidation ownership issues: Subsidiary preferred stock outstanding changes in parent company ownership complex ownership structures- subsidiary stock dividends. 12. Additional consolidation reporting issues: Consolidated statement of cash flows consolidation following a pooling of interest and interim acquisition consolidation income tax issues consolidated EPS.

Recommended Text: 1. Baker, R.E. , Lembke, V.C. and King, T.E., Advanced Financial Accounting, McGraw-Hill Irwin, Boston. 2. Weygandt, J.J., Keiso, D.E. and Kimmel, P.D., Accounting Principles, John Wiley and Sons Inc., USA.

3. Company Accounting Clift

& Navaratnam

4. Smith, J.M. and Skousen, K.F., Intermediate Accounting, South Western Publishing Co., Cincinnati.

5303 Financial Management Course objectives: The objectives of this course are: (1) to make the students conversant with capital budgeting/investment decisions. (2) to give the students sound idea about financial management in an international perspective. (3) to provide students with sound theoretical knowledge on risk and risk management. Course Contents: 1. Introduction: An Overview of Course # 4105: Principles of finance 2. Concepts of Return and Risk: Holding-Period Return and Holding-Period Yield; Uncertainty, Risk and Return; Risk-free and Risk-adjusted Return; Calculation of Return when Probability Distribution of Returns given, Bond Returns, Return from a Stock Investment; Types of Risks: Business Risk and Financial Risk, Total Risk and Specific Risk, Diversifiable Risk and Systematic Risk, Single-Asset Risk and Portfolio Risk; Measuring Risk: Variance, Standard deviation and Coefficient of variation of rates of return, Calculation of Risk when Probability Distribution of Returns given. 3. Valuation of Financial Securities: Stock Valuation (Dividend Discount Model). 4. Principles of Capital Investment: Administrative Framework (Steps involved in successful administration of Capital Investment, Categorization of Projects, Administrative Screening of Proposals), Relevant Cash Flows: Cash Flows vs. Accounting Profits Incremental Cash Flows and Sunk Costs Opportunity Costs and Double Counting Externalities and Cannibalization Shipping and Installation Costs Dividend and Interest to be Considered for Cost-of-Capital Calculation Working Capital Taxation Cash Flows related to Accounting Profit (Tax Payments on Periodic Taxable Profits, Tax Credit on Investment Allowance, Capital Gain Tax on Disposal of Old Assets, Tax Saving on Losses); Cash Flows in terms of Time: Initial Cash Outlay (Cost of acquisition, Shipping and Installation Costs, Sale Proceeds of Old Assets, Tax Loss or Saving, Investment Tax Credit, Working Capital Requirement), Periodic Cash Flows, End-ofProject Cash Flows (Salvage values, Release of Working Capital, Tax Loss or Saving); Calculation of Cash Flows after Tax (CFAT): Calculation from Periodic pre-tax Accounting Profit from Income Statement from Cash Flows Statement from Cash Budget; Cost of Capital; Types of Projects (Expansion Project vs. Replacement Project, Independent Project vs. Mutually Exclusive Project, Single Project vs. Multiple Projects); Methods for Evaluation: Traditional Methods (Average Rate of Return, Payback Period), Discounted Cash-Flow Methods (Net Present Value, Internal Rate of Return, Profitability Index), Advantages and Shortcomings of each Method, Acceptance-Rejection Criterion under each Method; 5. Cash Flows Forecasting in Capital Budgeting: Forecasting Techniques Qualitative Techniques (Delphi Method, Market Research, Panel Consensus, Visionary Forecasts, Historical Analogy, Sales Force Composite Forecast) Time-Series Analysis and Projection Techniques (Moving Average, Exponential Smoothing, Box-Jenkins, X11, Trend Projections, and others) Casual Techniques (Regression Analysis, Input-Output Model, Diffusion Index, Leading Indicator, Life-Cycle Analysis, and others). 6. Advanced Issues in Capital Budgeting: Investment Appraisal with Multiple IRRs Deferred Cash Inflows Unequal Lives of Mutually Exclusive Projects Investment Appraisal and Inflation Investment Appraisal with Cash flows at time other than end of the period Risk Analysis and Capital Budgeting: Project Evaluation under Conditions of Risk Portfolio Effect Capital Asset Pricing Model Applied to Capital Budgeting Mathematical Programming and Capital Budgeting; Capital Rationing (Single Period Rationing and Multi-Period Rationing). 7. International Financial Management: Why Companies go for being Global Multinational vs. Domestic Financial Management Exchange Rates The International Monetary System Trading in Foreign Exchange Interest Rate Parity Purchasing Power Parity Inflation, Interest Rates, and Exchange Rates International Money and Capital Markets Multinational Capital Budgeting International Capital Structures Multinational Working Capital Management.

8. Risk Management: Nature of Risk Concept of Risk Management. Business Risk Management: Risk Management Function in Business Risk Identification Risk Measurement Tools of Risk Management Insurance Contracts and Their Uses Implementing an Insurance Decision Self Insurance Group Insurance Health Insurance. Text Books: 1. Clark, Hindelang and Pritchard, Capital Budgeting (Prentice-Hall). 2. Williams and Heins, Risk Management and Insurance (McGraw-Hill). 3. Levy and Sarnat, Capital and Investment (Prentice-Hall). Additional Readings: 1. Brigham, Eugene F. and Joel F Houston, Fundamentals of Financial Management (Fort Worth: The Dryden Press and Harcourt Brace College Publishers). 2. Cooper, Stephen, Financial Management (Macdonald & Evans). 3. Van Horne, James C., Financial Management and Policy (Prentice-Hall).

5403 Project Appraisal and Management Course Objectives: At the completion of this course students will be able to understand the principles of project management. They will be able to develop a comprehensive project plan and to define required work products. The student will learn to identify, manage and mitigate risks, establish appropriate communications and understand project procurement process. Students will learn how to manage project scope and scope creep. At the end of the course the student will understand best practices, and tools available for project management. Student will be provided with lessons learned from other governmental agency implementations. Budgeting, funding and financial management are important components of this course. Acceptance testing, program evaluation and transition to operation are topics that will be thoroughly covered throughout the duration of the course. The student will also learn how to develop requirements definitions, as well as resources planning and allocation. Course Contents: 1. Overview: Capital expenditures- phases of capital budgeting levels of decision making facets of project analysis feasibility study objectives of capital budgeting. 2. Resource allocation framework: Key criteria elementary investment strategies portfolio planning tools- SPACE diversification debate strategic planning and capital budgeting. 3. Generation and screening of project ideas: Generation of ideas monitoring environment corporate appraisal scouting for project ideas preliminary screening project rating index sources of positive NPV. 4. Market and demand analysis: situational analysis and specification of objectives collection of secondary information market survey characterization of market demand forecasting market planning. 5. Technical analysis: Material inputs and utilities manufacturing process product mix plant capacity location and site structures and civil works project charts and layouts work schedules need for considering alternatives. 6. Financial analysis: Cost of project means of finance estimates of sales and production cost of production working capital requirement and its financing profitability projections break even point projected cash flow statement and balance sheet multi-year projections. 7. Social cost benefit analysis: Rationale for SCBA UNIDO approach Net benefit in terms of economic prices measurement of the impact on distribution savings impact and its value income distribution impact adjustment for merit and demerit goods LM approach shadow prices. 8. Multiple projects and constraints: Constraints method of ranking mathematical programming approach LP model Goal programming model. 9. Qualitative factors, strategic aspects and organizational considerations: Qualitative factors strategic aspects strategic planning and financial analysis information asymmetry and capital budgeting organizational considerations. 10. Project management: Forms of project organization project planning and control human aspects prerequisites for successful project implementation. 11. Network techniques for project management: Development of project network time estimation PERT CPM network cost system. 12. Project review and administrative aspects: Initial review performance evaluation abandonment analysis behavioral issues in project abandonment administrative aspects of capital budgeting. Recommended Text: Chandra, P., Projects, Planning, Analysis, Selection, Implementation & review, Tata McGraw-Hill Publishing Company Limited, New Delhi.

5412 Security analysis and portfolio management Course Objectives: To introduce different forms of markets including stock market, options and future markets, to acquaint students with portfolio management and different asset pricing models, and to explain different mechanics of security analyses. Course Contents: 1. Introduction to securities: Investment vs. speculation the investment process investment categories. 2. Markets for securities and taxes: Markets and their functions institutional investors and changing markets. 3. Risk and return: Security returns risk in a traditional sense systematic and unsystematic risk risk in a contemporary mode using beta to estimate return picturing risk and return. 4. Economic analysis: Analytical framework for common stocks economic and industry analysis economic forecasting and the stock investment decisions forecasting techniques. 5. Industry analysis: Alternative industry classification schemes the economy and the industry analysis key characteristics in an industry analysis industry share prices relative to industry earnings. 6. Company analysis: Internal information internal accounting issues external information Earnings forecasting via earnings model market share/ profit margin approach independent forecasts of revenues and expenses regression and correlation analysis in forecasting revenues and expenses trend analysis decision trees problem areas in implementing new techniques management in company analysis determining price earnings ratio projecting dividends applied stock valuation. 7. Bond analysis: The strategic role of bonds markets for debt securities government bonds corporate bond markets international fixed income investing specialized bonds bond market performance results bond returns and prices preferred stock valuation systematic risk in holding fixed income securities the term structure of interest rates business and financial risk major factors of bond rating process earnings power default risk and market yields- passive buy and hold strategy bond ladder strategy immunization maturity matching dedication dedication with zeros pressures for active bond management ingredients for active bond management. 8. Technical analysis: Market indicators forecasting individual stock performance other tests. 9. Efficient market theory: Fundamental and technical analysis random walk the efficient market hypothesis empirical tests on semi-strong form. 10. Portfolio analysis and selection: Traditional portfolio analysis- why portfolio? effects of combining securities Markowitz risk-return optimization- risk and investor preferences selecting the best portfolio simple Sharpe portfolio optimization significance of beta in the portfolio traditional portfolio selection. 11. Capital Market Theory: Capital market theory CAPM Arbitrage pricing theory. 12. Managed Portfolios and Performance Measurements: Classifications of managed portfolios advantages of managed portfolios management- performance evaluation mutual fund performance mutual fund as an investment sources of investment: company information. Recommended text: Fischer, D.E. and Jordan, R.J., Security analysis and Portfolio management, Prentice Hall of India Private Limited, New Delhi.

5416 Business Research Methodology Course Objectives: 1. To build the foundation of scientific thanking process. 2. To give elementary ideas about steps involved in research. Course Contents: Part - A INTRODUCTION: 1. Research: Definition - Characteristics of research - "Articles of faith" in research : Reliance on Empirical Evidence - Use of Relevant Concepts - Commitment to Objectivity Ethical Neutrality Generality - Prediction based on Probability - Public Methodology ~ Qualities of a Researcher Types of Researches : Pure and Applied Utility of Researches - Managerial Value of Researches.

Part - B CONCEPTUAL FOUNDATIONS 2. Science and Knowledge: Meaning and Nature of science: Meaning of Science-Nature and Characteristics of Science-Value Judgement and Science- Classification of Science. Human Knowledge: Meaning and Nature of Knowledge-Knowledge and Science. Methods in Science: Nature of Sciences and their Methodologies -Analytic and Synthetic Methods in Social Science-Scientific Methods. 3. Hypothesis: Meaning -Functions- Types-Sources of Hypothesis- Characteristic/conditions for a Valid Hypothesis-Analogy and formulation of Hypothesis-Forms of hypothesis - Verification and Proof of Hypothesis- Theory-Law and Fact Uses of Hypothesis. 4. Deduction and Induction: Meaning- Distinction between Deduction and Introduction Meaning-Inductive Method. 5. Observation and Experiment: Observation-Meaning-Components- Types- Accuracy- Reliability- Conditions of ObservationFallacies of Observation. Experiment: Meaning- Distinction between Experiment ,and Observation-Relative Advantages and Disadvantages of Observation and Experiment-Steps in Experimental techniquesLimitations of Experiment. 6. Inference: Meaning- Nature and Type-Immediate Inference -conversion- Obversion Oppositional Inference -Implication and Inference- Probable Inference- Paradox of Inference. 7. Explanation: Meaning-Description and Explanation-Types of Explanation-Classification-Concatenation. Laws. Explanation and theory. Explanation-Evolutionary Induction, Teleological 8. Analogy: Meaning-Reasoning from Analogy-Analogy and Scientific Induction-Strength of Analytical Reasoning-Misuse of Analogy- Analogy and Fair sampling in induction.

9. Cause: Law of causation-Definitions and Characteristics of causes-Cause and conditions Aristotle's View of cause - Popular view of cause- Scientific view of cause-Modern views on cause-Cause and FunctionPlurality of cause. 10. Concepts, Constructs, Variable and Definitions: Concepts- Constructs- Variable- Definitions of Constructs and Variables- Types of Variables-Continuous and Categorical Variables-Constructs, Observable and Latent Variables. 11. Measurement and Scaling Techniques: Definition of Measurement- Measurement and "Reality" Isomorphism- Properties, Construct and indicants of Objects- Formal Conditions of Measurement-Nature of counting- Measurement of Qualitative Data- Measurement of Intensive Qualities -Measurement of Extensive QualitiesSteps in Measurement through Content Analysis. Reliability of measurement: Definition- Theory of Reliability-Interpretation of Reliability Co-efficient- Value of reliability. Validity : Types of Validity- A Variance Definition of Validity- Variance relation of Reliability and ValidityValidity and Reliability of Measuring Instruments. Scaling Techniques: Measurement Scales: Nominal Scales-0rdinal Scales- Interval Scales-Ration Scales-Scaling Design: Nature of Scaling-Response Methods- Scale Construction Techniques- Reliability and Validity of Scaling. 12. Generalization : Probability and Generalization: Nature and Grounds of Probability - Probability and Inductive Generalization Interpretation of Probability - Probability as a Measure of Belief - Probability as a Relative Frequency. Uniformity's, Generalization and Laws: Meanings of uniformity Paradox of Induction - Types of uniformity's - Generalization: Basis of Generalization - Nature of Scientific Generalization - Types of Generalization - Laws : Classification of Laws - Laws of Nature - Empirical Generalization and Law of Nature. 1. Research and theory building: Meaning of theory - Goals of theory - Nature of propositions - Scientific method verifying theory - Formulation of theories - Value of theories. ( Zikmund) Relationship between "Theory" and "Research" (Wilkinson). Part-C RESEARCH STEPS 14. Selection and Formulation of Research Problem: Selection of a Research Topic: Ackoffs five components of a problem - Merton's three components formulation of a research problem - Sources of Research Problems - Characteristics of Research Problems - Review of related Literature - Importance of proper problem definition The Research proposal- Anticipated Result. 15. Research Design: Meaning of Research Design - Need for Research Design - Features of a Good Design Concepts relating to research Design - Different Research Designs: Exploratory or Formative Study - Descriptive or Diagnostic Stud)' - Experimental Design - Principles of Experimental Design - Pilot Study - Sampling Design Observational Design - Statistical Design - Operational Design.

16. Data Collection and Analysis of Data : Social Survey - Sources of Data : Documentary Source - Content Analysis Observation Interview Method - Questionnaire Method - The Schedule - The Case Study - Analysis and Interpretation of Data. 17. Research Report: Significance of Report Writing - Different Steps in writing reports - Layout of the Research Report - Types of Reports - Oral Presentation - Mechanics of writing a Research Report Precautions for Writing Research Reports. Reference: 1. B.N. Ghosh, Scientific Methods and Social Research, Sterling Publishers Ltd. 2. Fred N. Kerlinger, Foundations of Behavioral Research, Holt Rinehart Winston. 3. William G. Zikmund, Business Research Methods. The Dryden Press. 4. T.S. Wilkinson and P.L. Bhandarkar, Methodology and Techniques of Social Research.

5418 Contemporary Cost Accounting Course Objectives: The objective of the course is to provide the students with the knowledge of contemporary business environment and developments in the costing tools and techniques to face the challenges in cost management. Course Contents: 1. Introduction: Manufacturing Concerns Definitions, Characteristics; Manufacturing Activity Manufacturing vs. Non-manufacturing Concerns Organization Structure Producing Departments Service Departments Chart of Accounts Flow of Costs Financial Statements of a Manufacturing Concerns. 2. Cost Accounting as a Discipline: Contemporary business Environment and Cost Accounting - Definition and Objectives of Cost Accounting Limitations of Financial Accounting Importance of Cost Accounting Cost Accounting vs. Financial Accounting Cost Accounting vs. Management Accounting Evolution of Cost Accounting Relationship of Cost Accounting with Mathematics, Economics and Statistics. 3. Cost Estimation & Regression Analysis

Cost Estimation Approaches - Engineering Studies - Account Classification - Regression Analysis for Cost Estimation - Regression Equation - Multiple Regression - Planning for Regression Analysis of Business Data.
4. Management of Overhead Costs : Overhead costs accumulation Cost Pool : single vs. multiple cost object cost drivers Overhead cost allocation to cost objects : Traditional vs. Activity-Based Method Activity based costing: How costs are treated under ABC method designing an ABC system the mechanics of ABC- targeting process improvements- assigning costs to cost objects comparison of traditional and ABC product costs- ABC and external reports. 5. Accounting for Scrap, Spoiled, and Defective Units : Accounting for Scrap Accounting for Spoiled Goods Accounting for Defective Units. 6. Standard costs and the balanced scorecard: Standard costs: management by exceptions setting standard costs variance analysis- direct material variances- direct labor variances- variable manufacturing overhead variances- structure of performance reports variance analysis and management by exception- international uses of standard costs-evaluation of control based on standard costs Balanced Scorecard- general ledger entries to record variances. 7. Service department costing: Allocations using the direct and step method- allocating costs by behavior effect of allocation on operating departments some cautions in allocating service department costs. 8. Accounting of a Construction Company: Basic Features Costing Procedure Materials Labour Overhead Plant Work Certified Work Uncertified Measurement Book Retention Money Tender Preparation Contract Account Profit/Loss on Incomplete Contracts Escalation Clause Cost-plus Contracts IAS 11, Construction Contracts (Combining and Segmenting Construction Contracts; Contract Revenue Contract Costs Recognition of Contract Revenue and Expenses Recognition of Expected Losses Changes in Estimates Disclosure) 9. Segment reporting and decentralization: Decentralization in organizations- segment reporting and profitability analysis hindrances to proper cost assignments- rate of return for measuring managerial performance- controlling the rate of return residual income transfer pricing. 10. Relevant costs for decision making: Cost concepts for decision making sunk costs- future costs that do not differ adding and dropping product lines and other segments- make or buyspecial orders- utilization of a constrained resource- joint product costs and the contribution approach ABC and relevant costs.

11. Strategic Cost Management Techniques : Target Costing Kaizen Costing Life Cycle Costing JIT (Just-In-Time) Inventory and Back-Flush-Costing. Books Recommended: Text: 1. Garrison, R.H. and Noreen, E.W., Managerial Accounting, Irwin McGraw-Hill, Boston. 2. Dansby, Robert L., and Michael D. Lawrence, Cost Accounting (USA: Paradigm Publishing Inc.). Reference: 1. Polimeni, Ralph S., Frank J. Fabozzi, and Arthur H. Adelberg, Cost Accounting: Concepts and Applications for Managerial Decision Making (New York: McGraw-Hill, Inc.). 2. Prasad, N.K., Principles & Practice of Cost Accounting, Book Syndicate Private Ltd. 3. Usry, Milton F. and Hammer, Cost Accounting : Planning & Control (Cincinnati, Ohio: South-Western Publishing Co.).

5421 Corporate Finance Course Objectives: This course introduces the students with some important issues like financial planning, derivatives, efficient capital markets, merger and acquisitions and financial distress. Course Contents: 1) Introduction to corporate finance: Corporate finance corporate securities goals of the corporate firm financial markets. 2) Financial planning and growth: Financial planning financial planning model the percentage sales method what determines growth? some caveats of financial planning models. 3) Corporate financing decisions and efficient capital markets: Can financing decisions create value? a description of efficient capital market the different types of efficiency the behavioral challenge to market efficiency. 4) Issuing securities to public: The public issue alternative issue method the cash offer the announcement of new equity and the value of the firm the cost of new issues rights shelf registration the private equity market. 5) Leasing: types of leases accounting and leasing the cash flows of leasing - NPV analysis of the lease versus buy decision debt displacement and lease valuation reasons for leasing. 6) Options and corporate finance: Options- call and put options selling options combinations of options valuing options option pricing formula stocks and bonds as options capital structure policy and options mergers and options investment in real projects and options executive stock options valuing a start up shutdown and reopening decision. 7) Warrants and convertibles: warrants warrant versus call options warrant pricing and Black-Scholes model convertible bonds reasons for issuing warrants and convertibles conversion policy. 8) Derivatives and hedging risks: Forward contracts future contracts hedging interest rate futures contracts duration hedging swap contracts actual use of derivatives. 9) Mergers and acquisitions: The basic forms of acquisitions accounting for acquisitions synergy from an acquisition sources of synergy calculating the value of the firm after acquisition a cost to stockholders from reduction in risk the reasons for a merger NPV of a merger defensive tactics Keiretsu. 10) Financial distress: Financial distress bankruptcy liquidation and reorganization private workout or bankruptcy prepackaged bankruptcy. Recommended Text: Ross, S.A., Westerfield, R.W. and Jaffe, J., Corporate Finance, McGraw-Hill, Boston.