Course Title: Financial and Managerial Accounting
Type of Course: Compulsory, Theory, Non-departmental
Offered to: EEE
Pre-requisite Course(s): None
Financial Accounting: Objectives and importance of accounting, Branches Accounting, Accounting as an information system, Computerized system & applications in accounting. Recording system: Double entry mechanism, Accounts and their classification, Accounting equation, Accounting cycle – Journal, Ledger, Trail balance. Preparation of Financial statements considering adjusting and closing entries. Accounting concepts & conventions. Financial statements analysis and interpretation: ratio analysis – Tests for profitability, liquidity, solvency and overall measure.
Cost and Management Accounting: Cost concepts & classification. Segregation of mixed cost. Overhead Cost: meaning & classification, allocation of overhead cost, Overhead recovery method. Job order costing: preparation of job cost sheet and quotation price. Inventory valuation: absorption costing & variable costing technique. Cost Volume-Profit analysis: meaning, breakeven analysis, contribution margin approach, sensitivity analysis. Short-term investment decisions: Relevant & differential cost analysis; Linear programming. Long-term investment decisions: Capital budgeting, various techniques of evaluation of capital investment, investment appraisal under uncertainty, risk management, capital rationing. Concept of working capital, need for working capital, management of cash, stock, debtors.
To make students conversant about the basic concepts of financial, cost and managerial accounting
To demonstrate students different accounting methodologies, procedures, tools, and techniques
To enable students preparing, analysing, and interpreting financial, cost and managerial information and taking appropriate decisions
None
| CO No. | CO Statement Upon successful completion of the course the students should be able to |
Corresponding PO(s)* | Domains and Taxonomy level(s)** | Delivery Method(s) and Activity(ies) | Assessment Tool(s) |
|---|---|---|---|---|---|
| CO1 | express the basic concepts of financial, cost and managerial accounting | PO(i) | C2; A1; P1, P2 |
Lectures, Power point presentation |
Class tests; Assignments; Quiz; Final Exam |
| CO2 | identify and classify different cost, managerial and financial information of any organization | PO (i), PO(j) | C1, C4; A2; P3 |
Lectures, Power point presentation |
Class tests; Assignments; Quiz; Final Exam |
| CO3 | illustrate financial information and analyse financial performance and position of an entity | PO(g), PO(h), PO(i), PO(l) | C3, C4; A3, A4; P4 |
Lectures, Power point presentation |
Class tests; Assignments; Quiz; Final Exam |
| CO4 | facilitate and justify different financial and investment decisions | PO(k), PO(l) | C5, C6; A4, A5 |
Lectures, Power point presentation |
Class tests; Assignments; Quiz; Final Exam |
| CO5 | demonstrate different costing and managerial methods and techniques | PO(i) | C3; A1, A2; P1, P2 |
Lectures, Power point presentation |
Class tests; Assignments; Quiz; Final Exam |
| CO6 | plan effective costing tools and techniques for cost benefit analysis | PO(k), PO(l) | C5; A3; P3, P4 |
Lectures, Power point presentation |
Class tests; Assignments; Quiz; Final Exam |
| CO7 | evaluate projects for benefit maximization. | PO(k), PO(l) | C6; A4; P5 |
Lectures, Power point presentation |
Class tests; Assignments; Quiz; Final Exam |
Cognitive Domain Taxonomy Levels: C1 – Knowledge, C2 – Comprehension, C3 – Application, C4 – Analysis, C5 – Synthesis, C6 – Evaluation, Affective Domain Taxonomy Levels: A1: Receive; A2: Respond; A3: Value (demonstrate); A4: Organize; A5: Characterize; Psychomotor Domain Taxonomy Levels: P1: Perception; P2: Set; P3: Guided Response; P4: Mechanism; P5: Complex Overt Response; P6: Adaptation; P7: Organization
Program Outcomes (PO): PO(a) Engineering Knowledge, PO(b) Problem Analysis, PO(c) Design/development Solution, PO(d) Investigation,
PO(e) Modern tool usage, PO(f) The Engineer and Society, PO(g) Environment and sustainability, PO(h) Ethics, PO(i) Individual work and team work,
PO(j). Communication, PO(k) Project management and finance, PO(l) Life-long Learning
* For details of program outcome (PO) statements, please see the departmental website or course curriculum
| K1 | K2 | K3 | K4 | K5 | K6 | K7 | K8 | P1 | P2 | P3 | P4 | P5 | P6 | P7 | A1 | A2 | A3 | A4 | A5 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Lectures | Topics | Textbook | Corresponding CO(s) |
|---|---|---|---|
| 1-3 | Introduction to Financial Accounting; Introduction to Cost Accounting | Kieso(2015) , Garrison (2011) | CO1 |
| 4-6 | Assumptions and Principles; Cost Concepts and Classification | Kieso (2015) , Garrison (2011) | CO1, CO2 |
| 7-9 | Accounting as an information system, accounting cycle, accounting Equation; Cost Concepts and Classification, Overhead Costing | Kieso(2015) , Garrison (2011) | CO1, CO2 |
| 10-12 | Transaction Analysis; Cost Sheet: Cost of Goods Manufactured, Cost of Goods Sold and Income Statement; | Kieso(2015) , Garrison (2011) | CO2, CO5 |
| 13-15 | Recording Process; Job order costing | Kieso(2015) , Garrison (2011) | CO2, CO5 |
| 16-18 | Recording Process; Job order costing | Kieso(2015) , Garrison (2011) | CO2, CO5 |
| 19-21 | Adjusting the Accounts; Cost Volume Profit Analysis | Kieso(2015) , Garrison (2011) | CO2, CO5, CO6 |
| 22-24 | Adjusting the Accounts; Inventory valuation: absorption costing and variable costing | Kieso(2015) , Garrison (2011) | CO2, CO5, CO6 |
| 25-27 | Preparation of Financial Statements or Reports; Relevant costing | Kieso(2015) , Garrison (2011) | CO3, CO5 |
| 28-30 | Preparation of Financial Statements or Reports; Relevant costing | Kieso(2015) , Garrison (2011) | CO3, CO5, CO6 |
| 31-33 | Preparation of Financial Statements or Reports; Liner Programming | Kieso(2015) , Garrison (2011) | CO3, CO5, CO6 |
| 34-36 | Financial Statements/ Report analyse and Interpretation; Concept of Working capital, management of cash, stock, debtors | Kieso(2015) , Garrison (2011) | CO3, CO4, CO5, |
| 37-39 | Financial Statements/ Report analyse and Interpretation; Concept of Working capital, management of cash, stock, debtors | Kieso(2015) , Garrison (2011) | CO3, CO4, CO5, |
| 40-42 | Long run planning and control, Capital Budgeting | Kieso(2015) , Garrison (2011) | CO6, CO7 |
Class Participation: Class participation and attendance will be recorded in every class.
Continuous Assessment: Continuous assessment any of the activities such as quizzes, assignment, presentation, etc. The scheme of the continuous assessment for the course will be declared on the first day of classes.
Final Examination: A comprehensive term final examination will be held at the end of the Term following the guideline of academic Council.
Class Participation 10%
Continuous Assessment 20%
Final Examination 70%
Total 100%
Weygandt J. J., Kimmel D. P. & Kieso E.D. (2015), Accounting Principles, New Jersey, John Wiley & Sons.
Garrison R., Moreen E., & Brewer P. (2011), Managerial Accounting , New York, McGraw-Hill/Irwin.
Horngren C. T., Foster G., & Datar S. M. (2017), Cost Accounting: A Managerial Emphasis , New York, Pearson.
[https://open.umn.edu/opentextbooks/subjects/accounting]()
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