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Bachelor of Commerce - Accounting and Finance (BAF)

History of Department

Bachelor of Commerce (Accounting and Finance)
Summary

The Bachelor of Commerce (Accounting and Finance) was introduced in 2010 and it has gone from strength to strength over the period of five years, having a university topper almost every year from the first batch onwards. This course provides professional education for those wishing to pursue their careers in the fields of accounting and finance. The dual major of Accounting and Finance enables students to understand the increasingly complex and critical area of finance coupled with knowledge of the practices of accounting. It has a strong emphasis on developing analytical skills and offers a solid grounding and professional competence in all aspects of commerce required for careers in the business and corporate sectors.

The Bachelor of Commerce (Accounting and Finance) aims to produce graduates who will produce innovative solutions to problems, apply research skills to business challenges and communicate effectively.

While the course is primarily theoretical, there is a good blend of projects, case studies, moot courts, court visits and industrial visits to enable a student to get hands on experience in the functioning of the Industry. The department also conducts various seminars and workshops to make them well – versed in international market requirements.

There is also exposure to working in the industry during the Summer Internship Programs which is a compulsory component of the program. The students of Jai Hind College will also have the additional benefit / option of pursuing higher studies with Colleges / Universities abroad as part of the various linkages that the College has with them.

The students of the department organizes a 3 day inter collegiate festival called ENTOURAGE every year. The festival has gone from strength to strength over the years such that almost all Mumbai colleges and now even colleges from Delhi and Bangalore not only participate in it but look forward to Jai Hind College hosting this festival. The festival encompasses not only sports, educational and cultural events but lays great emphasis on social responsibility. The festival is marked by the attendance of academicians, industrialist and celebrities as speakers and/or judges of the various events. The festival helps in the holistic development of the students.

Board of Studies:
The BAF department at Jai Hind College has started an innovative initiative where the department has formulated its own Board of Studies which comprises of various stakeholders, from having a representative from the industry to gauge the expectation of the industry from a BAF graduate, a parent to understand what are their expectations from the course and the college, a visiting faculty who brings in their industry and subject expertise and addresses issues to bridge gap between the industry and the students, an alumni who brings insight on what has been taught and how its helping them achieve their career goal, student representatives who throw light on their expectations from the course and the college and the principal and teachers. The Board of Studies conducts meetings bi annually and the suggestions are then implemented and followed upon. Few suggestions are also forwarded to the University Body of the Board of Studies. The main objective of the Board of Studies is that the students have an edge over others and have much more practical knowledge than they are expected to have, at the institute level the objective is to benchmark itself against the top ten institutions.

Career outlook
There is a placement cell in the college which helps students to find jobs after graduation. Graduates can pursue careers in the field of Accounts, Financial analysts, credit analysts, stock brokers, real estate, financial planners, consultants & managers.

The students who pass with this degree are almost on par in knowledge with a student pursuing his CA. This is clearly visible from the fact that the finance firms that come for placements are very eager to grab our BAF students especially companies like KPMG, Ernst & Young, Edelwise etc.

USP
Provide such grounding and training in accounts and finance that they can stand their own for all national and international CFA & CA requirements

Faculty

Co-ordinator – Yasmin Singaporewala yasminjhc@yahoo.in, yasnysa@gmail.com

Assistant Professor BAF: Vipul Pancholi vipulpunch@yahoo.co.in

Syllabus

BAF Course Structure:
Semester I (June – October)

    • Financial Accounting Paper I
      • Accounting standards
      • Inventory Valuation
      • Final Accounts
      • Accounting with incomplete records
      • Fire Insurance Claims
    • Cost Accounting Paper I
      • Introduction
      • Cost Concepts
      • Material Cost
      • Labors Cost
      • Overheads Cost
    • Economics Paper I
      • Introduction
      • Demand & Supply
      • Theory of Production
      • Cost & Revenue Analysis
      • Market Structure    
      • Pricing Practices, Market Failure and Project Planning
    • Commerce Paper I (Business Environment)
      • Business and its Environment
      • Business and Society
      • Contemporary Issues
      • International Environment
    • Accounting with Use of Accounting Softwares -Introduction and Applications Paper-I
      • Introduction to Computer
      • Office Productivity Tool
      • Web
      • Accounting with Use of Accounting Softwares
    • Business Communication Paper I
      • Nature and Process of Communication
      • Methods of communication
      • Dimensions of Corporate communication
      • Listening and communication
    • Foundation Course Paper I (Commercial Environment)
      • Introduction to Commerce
      • Business & Basic commercial information    
      • Business & Basic accounting information
      • Basic Economic Challenges
      • Organization, Management & Administration

   
Semester II (November – April)

    • Financial Accounting Paper II
      • Departmental Accountants
      • Branch Accounts
      • Accounting for Hire Purchase
      • Consignment Accounts
    • Auditing Paper I
      • Auditing- Introduction   
      • Audit Planning, Procedures and Documentation
      • Auditing Techniques
      • Vouching   
      • Internal Audit
    • Financial Management Paper I
      • Introduction to financial Management  
      • Concepts in valuation  
      • Investment Decisions
      • Types of Financing
      • Cost of Capital
    • Taxation Paper I
      • The Maharastra Value Added Tax Act, 2002.
    • Business Law Paper I
      • Law of Contract Act 1872
      • Sales of Goods Act 1930
      • Negotiable Instrument Act 1881
      • The Consumer Protection Act 1986
    • Quantitative Methods for Business- Paper I
      • Functions
      • Mathematics of Finance
      • Introduction to Statistics
      • Presentation of Data
      • Analysis of Quantitative Data
      • Index Numbers
    • Business Communication Paper II
      • Barriers to Effective Communication in Corporate World
      • Theory and Practice of Business Correspondence
      • Interviews
      • Presentations

Semester III (November – April)

    • Financial Accounting Paper III
      • Partnership Final Accounts based on Adjustment of Admission or Retirement / Death of a Partner during the Year
      • Piecemeal Distribution of Cash
      • Amalgamation of Firms
      • Conversion / Sale of a Partnership Firm into a Ltd. Company
      • Accounting with the Use of Accounting Software
    • Cost Accounting Paper II
      • Classification of Costs And Cost Sheets
      • Reconciliation of Cost and Financial Accounts
      • Contract Costing
      • Process Costing
    • Auditing Paper II
      • Vouching
      • Verification
      • Audit and Assurance Standards
      • Audit of Limited Companies
    • Economics Paper II (Macro Economics)
      • Macroeconomics: Nation Income, Theory of Income and
      • Employment
      • Monetary Economics
      • Integration of Product and Money Market Equilibrium
      • Public Finance
      • International Trade, Balance of Payment and WTO
      • Foreign Exchange Market
    • Business Law II
      • The Indian Partnership Act – 1932
      • Limited Liability Partnership Act – 2008
      • Factories Act – 1948
    • Management Paper II
      • Introduction to Basic Management Concepts
      • Planning
      • Organizing
      • Staffing
      • Directing and Controlling
    • Quantitative Methods for Business -Paper II
      • Decision Theory
      • Linear Programming Models
      • Transportation Models
      • Assignment Models

Semester IV (November – April)

  • Financial Accounting - Paper IV (Special Accounting Areas)
    • Preparation of Final Accounts of Companies
    • Redemption of Preference Shares
    • Redemption of Debenturest
    • Ascertainment and Treatment of Profit Prior to Incorporation
    • Accounting with the Use of Accounting Software
  • Management Accounting - Paper I (Introduction to Management Accounting)
    • Introduction to Management Accounting
    • Analysis and Interpretation of Accounts
    • Ratio Analysis       
    • Cash Flow Statement
    • Working Capital Concept 
  • Taxation Paper II
    • Indirect  Tax –  Central Excise law
    • Indirect  Tax – Service Tax
  • Commerce Paper II (Financial Market operations)
    • Debt Market
    • Equity Market
    • Commodities Market
    • Derivatives Market
    • Global Financial Markets 12
  • Business Law Paper III (Company Law- The Companies Act 2013)
    • Definitions
    • Incorporation of companies
    • Public Offer
    • Private Placement
    • Share Capital and Debentures
  • Information Technology Paper II (Applications in Business)
    • Introduction to Internet and other emerging technologies
    • Developmental Tools
    • Cyber laws and Information Technology Act 2000
    • Introduction to online applications under various Acts
  • Foundation Course – II Value Education and Soft Skill
  • Values and the Individual
  • Values and Society
  • Professional Values
  • Role of Social Institutions in Value Formation
  • Soft Skill for effective Interpersonal Communication

 
Semester V (June – October)

  • Financial Accounting Paper  - V
    • AS – 14 - Amalgamation, Absorption & External Reconstruction (excluding inter – company holding)
    • Internal Reconstruction
    • Underwriting of shares & debentures
    • Liquidation of Companies
    • Buy-Back of shares
  • Cost Accounting Paper – III
    • Uniform Costing and Inter-Firm  Comparison
    • Integrated System and Non Integrated System of Accounts
    • Operating Costing
    • Process Costing- Equivalent Units of Production and Inter-process Profit (FIFO Method)
    • Introduction to Emerging concepts in costing
  • Financial Management  Paper – II
    • Risk and Return
    • Leverage
    • Capital Structure Decisions
    • Cash Management
    • Receivable Management
  • Taxation Paper – III- Direct Tax Paper – I
    • Definitions u/s – 2 -Basis of Charge
    • Exclusions from Total Income
    • Heads of Income
    • Deductions under Chapter VI – A
    • Computation of Total Income
  • Auditing Paper – III
    • Company Audit
    • Audit Report
    • Audit under Computerized Information System Environment
    • Professional Ethics
  • Management Paper – II (Management Applications)
    • Marketing Management
    • Production Management
    • Human Resource Management
    • Financial Management

Semester VI (November – April)

  • Financial Accounting Paper –VI
    • Final Accounts of Banking Company
    • Final Accounts of Insurance Company (Excl. Life Insurance)
    • Investment Accounting (w.r.t.  Accounting Standard - 13)
    • Accounting of Transactions of  Foreign Currency
    • Accounting for Limited Liability Partnership
  • Cost Accounting Paper – IV
    • Budgeting and Budgetary Control
    • Absorption Costing and Marginal Costing Cost Volume and Profit Analysis
    • Managerial Decision Making
    • Standard Costing and Variance Analysis
  • Financial Management –  Paper III
    • Financial Policy and Corporate Strategy
    • Security Analysis
    • Dividend Decisions
    • Mutual Funds
    • Portfolio Theory
  • Taxation  Paper – IV-(Direct Taxes - II)
    • Clubbing of Income
    • Set Off & Carry Forward of Losses
    • Computation of Tax liability of Individual & HUF
    • Computation of Income of Partnership Firm in Relation to Sec: 40(b) & Tax Thereon With applicable rate of tax
    • Return of Income – Sec 139
    • Tax Deduction at Source Advance Tax Interest Payable
    • DTAA  U/S 90 & 91
  • Financial Accounting Paper –VII
    • Valuation of Goodwill and Shares
    • Final Account for Electricity Company
    • Final Accounts for Co-Operative Society Co-Operative Housing Society Consumer Co-Operative Society
    • Foreign Branch
    • Introduction to IFRS and Ind - AS
  • Economics Paper – III-Indian Economy
    • Introduction (09) Agricultural Sector (06)
    • Industrial Sector
    • Money and  Banking
    • Service Sector (09) External Sector (06)