NATIONAL INSTITUTE OF FINANCIAL MANAGEMENT, FARIDABAD

POST GRADUATE DIPLOMA

IN
MANAGEMENT (FINANCIAL MANAGEMENT)

Syllabus

INDEX
FIRST YEAR
First Trimester
Code

Title of the Paper

Credits

Sessions

101

Accounting for Managers

40

102

Managerial Economics

40

103

Information and Communication Technology for

Managers

40

104

Management of Organization and People

40

105

Business Mathematics

20

106

Corporate Communication

20

107

Public Financial Administration

40

108

Financial Management I

40

21

280

Total
Second Trimester
201

Management Accounting

40

202

Financial Markets and Institutions

40

203

Direct and indirect Taxes : Planning and Control

20

204

Business and Corporate Laws

40

205

Financial Reporting Standards

20

206

Financial Management - II

40

207

Business Data Network

40

18

240

40

Total
Third Trimester
301

Human Resource Management

302

Marketing Management

40

303

Information Technology (IT) for Finance

40

304

Business Statistics

20

305

Research Methodology

20

40

15

200

Electives
306

Accounting in Government and Not for Profit

Organizations
or

307

Enterprise Management
Total

Page (s)

SECOND YEAR
Fourth Trimester
Code

Title of the Paper

Credits

Sessions

401

Security Analysis and Portfolio Management

40

402

Production and Operations Management

40

403

Treasury and Risk Management

40

404

International Financial Management

40

405

Projects and Infrastructure Management: Financing,

Implementation and Control

40

40

18

240

Page (s)

Electives
406

Mergers and Acquisitions (or)

or

407

Microfinance and Insurance

Total
Fifth Trimester

501

Strategic Management

40

502

Financial Services

20

503

Corporate Governance and Business Ethics

20

40

Electives
504

Information Technology (IT) Security

505

E - Commerce

or
Training Placement
a.

International Attachment

b.

Domestic Placement

c.

Reporting Writing

d.

Viva-voce

Four Weeks (04)

Total Credits

02

02 Week

01

01 Week

01

01 Week

02

N.A.

15

Commencement of Project Work after the training placement - One Month

Sixth Trimester
601

Project Work
Total Credits

09

FIRST TRIMESTER

Accounting for Managers

Paper Code : 101
Scheme of Evaluation

1.
2.

Objective of the Paper

Continuous evaluation in the form of assignments, surprise 30%

quizzes, and, Case presentations
End term
70%
Total Marks : 100
:
To provide the participants a thorough grounding of Financial
Accounting concepts and preparation of Financial Statements with
their analysis.

Unit I
Conceptual Framework of Accounting: Users of Financial Statements; Capital of a Firm; Structure
of Business Firms; Objectives of Corporate Financial Reporting; Components of Financial
Statements; Accounting Conventions; Qualitative Characteristics of Financial Statements; True and
Fair View; and Accounting Policy and Accounting Standards; Accounting Standards Disclosure of
Accounting Policies (AS 1).
2. Accounting Records and Systems: (Journal, Cash Book, General Ledger, Trial Balance) and Bank
Reconciliation Statement.
3. Balance Sheet: Accounting Equation; Balance Sheet Structure; Assets; Current Assets; Non-Current
Assets; Classification of Assets; Liabilities; Current Liabilities; Non-Current Liabilities; Secured and
Unsecured Liabilities; Classification of Liabilities; Accounting Standards Contingencies and Events
Occurring after the Balance Sheet Date (AS-4).
Unit II
4. Structure of Profit and Loss Account: Nature of Profit and Loss Account; Expenditure and Expenses;
Income; Accrual Basis of Accounting; Structure of Profit and Loss Account; Extraordinary Items;
Prior-Period Items; Accounting Standards; Net Profit or Loss for the period, prior period items and
changes in Accounting Policies (AS 5).
5. Cash Flow Statements: Preparation of Cash Flow Statement; Presentation of Cash Flow Statement;
Operating Activities; Investing Activities; Financing Activities; Foreign Currency Cash Flows; and
Analysis; Accounting Standards Cash Flow Statement (AS 3).
Unit - III
6. Inventory Valuation: Definition; General Principles; Inventory Costs; Use of Standard Cost Method
and Retail Method; Cost Formulas; and Net Realizable Value (NRV); Accounting Standards;
Valuation of Inventories (AS 2).
7. Revenue Recognition: Introduction; General Principles; Measurement of Revenue; Collectibility of
Revenue; Matching Principle; Sale of Goods; Service Revenues; Sales of Real Estate; Interests and
Dividends; Constructions Contracts; and Revenue Recognition under Indian GAAP; Accounting
Standards Revenue Recognition (AS 9).
8. Asset Accounting: Depreciation Accounting; and Fixed Assets Accounting (including a brief
introduction to Impairment); Accounting Standards Depreciation Accounting (AS 6); Accounting
Standards Accounting for Fixed Assets (AS 10).
Unit IV
9. Financial Statements of Limited Companies: Legal Requirement relating to preparation of Financial
Statements of Companies (including Schedule VI of the Companies Act); Note to the Accounts and
Significant Account Policies and other Financial Reports and the contents of Annual Report.
10. Analysis of Financial Statements: Introduction; Accounting Policy and Quality of Earning; Earnings
Management; Potential Red Flags; Common-size Financial Statement; Ratio Analysis; An
Introduction; Measurement of Overall Performance of a Firm; Decomposing Roic and Roce;
Turnover of Assets and Profitability; Decomposing Roer Gross Gearing; Effect of Financial Leverage
and Spread; Assessing the Operating Management; Assessing the Solvency and Liquidity; Ratios at a
Glance; Uses of Ratios for Internal Management; and Capital Market-Based Ratios; Accounting
Standards Net Profit and Loss for the period, prior period items and changes in Accounting Policies
(AS 5).
1.

Recommended Books
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.

Ashish K. Bhattacharya : Financial Accounting for Business Managers : Prentice-Hall of India Pvt.
Ltd. : Year of Publication 2006
R. Narayanaswamy : Financial Accounting : A Managerial Perspective : Prentice-Hall of India Pvt.
Ltd. : Year of Publication 2002
Robert N. Anthony, David F. Hawkins, Kenneth A. Merchant : Accounting Text & Cases : Tata Mc
Graw Hill Publishing Co. Ltd. : Year of Publication 2003
Horngren, Sundem, Elliott : Introduction to Financial Accounting : Pearson Education : Year of
Publication 2005
S.P.Jain, K.L.Narang, Simmi Agrawal : Accounting for Managers : Kalyani Publishers : Year of
Publication 2006
D.S.Rawat : Students Guide to Accounting Standards : Taxmann : Year of Publication 2007
S.P.Jain, K.L.Narang : Financial Accounting and Analysis : Kalyani Publishers : Year of Publication
2000
T.P. Ghosh : Financial Accounting for Managers : Taxmann : Year of Publication 2006
S.N.Maheshwari, S.K.Maheshwari : An Introduction to Accountancy : Vikas Publishing House Pvt.
Ltd. : Year of Publication 2005
Wsetgandt, Kieso, Kimmel : Financial Accounting : John Wiley & Sons, Inc. : Year of Publication
2003
Ashok Banerjee : Financial Accounting : A Managerial Emphasis : Excel Books : Year of Publication
2006
N. Ramachandran, Ram Kumar Kakani : Financial Accounting for Management : McGraw-Hill :
Year of Publication 2005
R.P.Rustagi : Students guide to Accounting Standards : Galgotia Publishing Company : Year of
Publication 2005
P.C. Tulsian : Financial Accounting : Pearson Education : Year of Publication 2003
Robert N. Anthony, James S. Reece : Accounting Principles : AITBS Publishers & Distributors : Year
of Publication 2001
R.L.Gupta, V.K.Gupta : Fundamentals of Accounting : Sultan Chand & Sons : Year of Publication
1993
Ambrish Gupta : Financial Accounting for Management : Pearson Education : Year of Publication
2005

Managerial Economics
Paper Code : 102
Scheme of Evaluation

1.
2.

Objective of the Paper

Continuous evaluation in the form of assignments, surprise 30%

quizzes, and, Case presentations
End term
70%
Total Marks : 100
Businesses face important decisions every day and it is the job of
managers at all levels to choose among the options available to further
the goals of the organization. Managerial Economics is a core paper of
any management programme and it is aimed at presenting and
developing a microeconomic approach to business decisions. It is a
collection of concepts and methods that help managers make these
decisions. Thus, emphasis is placed on the study of the production
process and the analysis of interactions in markets, both with the
customers and the rival firms. By the end of first two Units you should
be familiar with the basic tools of managerial economics and be able to
apply them to questions like those just mentioned.

In addition, the learning on first two units will help you in applying
these microeconomic theories on the macroeconomic perspectives. For
which Unit III & IV is designed for. These two units will be studied
from Indian Economy perspectives. Thus, the present paper is a blend
of microeconomics and macroeconomics, which makes this paper
distinct from the paper which is usually taught in any other business
schools.
Unit - I
Economics: Introduction; Theoretical Perspective; Definitional Aspects; Scope and Coverage.
Managerial Economics: Fundamental Concepts; Objectives of the Firm; Environment of Business;
Economic and Non-Economic Elements and their Interactions; Decision Making
Consumer Behaviour: Utility Analysis; Equi-marginal Utility; Indifference Curve; Consumer
Equilibrium
Demand Decision: Meaning & Types of Demand; Determinants of Demand; Demand Function; Demand
Elasticity
Demand Estimation: Methods of Demand Estimation; Demand Forecasting; Types of Demand
Forecasting
Unit - II
Production Decisions: Firm's behaviour in short & long run; Cost Concepts; Cost-Output Relations;
Production Function; Elementary Description
Pricing Decisions: Determinants of Price; Pricing under different market conditions; Objectives of
Pricing under different market structures: Perfect Competition; Monopoly; Oligopoly; Monopolistic
Competition
Unit - III
Monetary Policy: Different Components of Money Supply; Monetary Theory and Policy in Practice;
Interest Rate Policy; Role of RBI in Monetary Management; Credit Policy; Financial Institutions
Fiscal Policy: Fiscal Imbalance; Government Expenditure; Plan and Non-Plan Expenditure; Tax Policy
and Reforms; Government Borrowings: Domestic and External
Commercial Policy: Foreign Trade Policy; Foreign Exchange Management Act (FEMA)
External Sector: Balance of Payment and Balance of Trade; Current Account and Capital Account;
Trends in Exports and Imports
Unit - IV
Business and Government: Role of Government; Development Strategy; Industrial Policy; Industries
(Development and Regulations) Act, 1951; Industrial Policy Resolution (IPR) 1956; Monopolies and

Restrictive Trade Practices (MRTP) Act 1969; Five Year Plans; Review of Preceding Five Year Plan;
Overview of Latest Five Year Plan
Public Sector in India: Role of Public Sector; Organisation of Public Sector; Problems and Prospects of
Public Sector
Economic Reforms : Liberalisation; Privatisation and Globalisation; Assessment of New Economic
Reforms.
Books & References:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.

Ahluwalia, I J: India's economic reforms and development, essays for Manmohan Singh : New
Delhi: OUP, 1998.
Ahluwalia, Montek S. ed.: Macroeconomics and Monetary Policy: New Delhi: Oxford University
Press, 2002.
Ahluwalia, Montek S.: Macroeconomics and Monetary Policy: Issues for a reforming economy: New
Delhi: Oxford University Press, 2003.
Ahuja, H. L.: Advanced Economic Theory : Microeconomic Theory: Ed 13, New Delhi : S Chand &
Co,2003
Bhatia, H. L.: Public Finance: Ed 25th, New Delhi: Vikas Publishing House, 2006.
Bilas, Richard A.: Microeconomics: Theory: 2nd. ed. McGraw-Hill, New York, 1971.
Chiang, Alpha C.: Fundamental Methods of Mathematical Economics: Ed 3rd, Auckland: McGrawHill Book Company, 1984.
Chiang, Alpha C. and Kevin Wainwright: Fundamental Methods of Mathematical Economics: Irwin
Professional Pub, February 28, 2005.
Datt, Ruddar: Economic Reform in India: An Appraisal and Policy Directions for Second
Generation Reforms: New Delhi: Bookwell, 2001.
Datta, Rudra and Sundharam, K. P. M.: Bhartiya Arthavyavstha: Ed 29th ed, New Delhi : S
Chand,1998
Dowling, Edward T.: Introduction to Mathematical Economics: New York: Schaum's Outline Series,
2001.
Gupta, Suraj B.: Monetary Economics: Institutions, Theory and Policy: New Delhi : S Chand, 1996.
Henderson, James M and Quandt, Richard E.: Microeconomic Theory : A Mathematical Approach:
Ed 3rd ed., Auckland : Mc-Hill Book Company.,1980.
Hirschey, Mark: Managerial Economics: Version 10E (2003)
Joshi, Vijay; Little, I.M.D: India's Economic Reforms 1991-2001: New Delhi:Oxford University
Press,1996.
Kapila, Raj and Kapila, Uma, Ed: A Decade of Economic Reforms in India : The Past, the Present
and the Future: Delhi : Academic Foundation,2002.
Kapila, Raj and Kapila, Uma: Understanding India's Economic Reforms : The past, the Present and
the Future: Delhi : Academic Foundation, 1996
Koutsoyiannis, A.: Mordern Microeconomics: Ed 2nd ed., London : MacMillan,1979
Kurihara, Kenneth K.: Monetary Theory and Ppublic Policy: Ludhiana: Kalyani Publishers, 1998.
Lipsey, Richard G.;Courant, Paul N and Ragan, Christopher T.S.: Microeconomics: Ed 12th Ed.,
Massachusetts : Addison-Wesley,1999.
Maheshwari, Yogesh: Managerial Economics: Prentice Hall of India, 2nd Ed., 2005
Mansfield, Evans: Managerial Economics: Macmillan
Mishra, S. K. and Puri, V. K.: Indian Economy: Its Development Experience: Ed 18th rev.e, Delhi:
Himalaya Publishing House, 2000.
Musgrave, Richard A. and Musgrave Peggy B.: Public Finance in Theory and Pactice: Ed 5th, New
Delhi: TMH, 2007.
Parthasarthy, G.: Economic Reforms and Rural Development in India: New Delhi: Academic
Foundation, 2003.
Peterson, H. Craig & W. Cris Lewis: Managerial Economics: Prentice Hall of India, 4th Ed., 1999
Pindyck, Robert S. and Rubinfeld, Daniel L.: Microeconomics: Ed 5th, Delhi: Pearson, 2004.

28. Prest, A.R. and Barr, N.A.: Public Finance in Theory and Practice: London: Weidenfeld and
Nicolson, 1985.
29. Rao, C H Hanumantha; Linnemann, Hans: Economic Reforms and Poverty Alleviation in India:
New Delhi: Sage Publication,1996
30. Rao, M. Govinda: Development, Poverty, and Fiscal Policy: Decentralization of Institutions: New
Delhi: Oxford University Press,2003.
31. Sachs, Jeffrey; Varshney, Ashutosh and Bajpai, Nirupam: India in the Era of Economic Reforms:
New Delhi : Oxford,1999.
32. Salvatore, Dominick: Managerial Economics in a Global Economy: Thomson South Western College
Publications, 4th Ed., 2002.
33. Samuelson, A. Paul and Nordhaus, D William.: Economics: Ed 17, New Delhi : Tata McGraw Hill
Publishing Co.,2002
34. Shome, Parthasarathi, ed., Fiscal Policy, Public Policy and Governance: New Delhi : National
Institute of Public Finance and Policy,1997.
35. Srinivasan, T. N.: Eight Lectures on India's Economic Reforms: New Dehli: Oxford University
Press,2001.
36. Sury, M M: Fiscal Policy Developments in India 1950-2000: Delhi: Indian Tax Institute, 2000.
37. Swamy, Subramanian: India's Economic Performance and Reforms: A Perspective for the New
Millennium: New Delhi : Konark Publishers Pvt. Ltd.,2000.

Information and Communication Technology for Managers

Paper Code : 103
Scheme of Evaluation

Continuous evaluation in the form of assignments, surprise quizzes, 30%

and, Case presentations
2. End term
70%
Total Marks : 100
Objective of the Paper
: To introduce the beginners with the nuances of Information Technology and
its applications/utility in the modern day Smart Offices. The course aims to
equip the learners with the skills to utilize the best of IT usage in their day to
day office work.

1.

2.

3.

4.

5.

1.

Unit I
Information & Communication Technology : Introduction to computer and its brief architecture,
peripheral devices; number systems, Computer Codes, Software, Computer languages, operating
systems, Storage media.
Appendix: OS Management
Data and Information Organization: Database approach to data management, database models
(hierarchical, relational and network models), entities, attributes, keys, Database management
system, data definition language, relational database management system, data warehouses and data
mining.
Appendix: Ms-Access
Unit - II
Computer Networks, Internet, Intranet and Extranet :Communication System, mode of
communication, applications of networks, network types, network opologies, protocols,
telecommunication software, Internet structure & its usage, World Wide Web (WWW), Intranets
and Extranets
Appendix: look@LAN, Netview, Videoconferencing
Unit - III
Management Information System:
Information System Development Approach & SDLC, Office Automation System, Decision Support
System, Expert System, System Analysis Tools(CASE Tools, DFDs, Data Analysis etc.), Control
documentation & quality Assurance, System Justification/ Requirement Analysis, System Control &
quality Assurance, H/w& S/w Selection (Acquisition, Bench Marking, Vendor Selection,
Performance etc.), Financial Data Reports for Decision making
Appendix: Tally, IDEA
Unit IV
Hands On
Office Tools (Ms-word, Ms-Excel, MS-Access, Power-point)
Synchronization of Mobile with Computers, How to use - Scanners, Fax, external memory devices,
i-pod, pdf etc.

Books and Refrences

1.

Computer Fundamentals by P.K. Sinha, BPB Publication

2.

Introduction to Computer by Leon & Leon

3.

Modern System Analysis & Design by Hoffer, Perason Education

4.

Management Information System by Post & Anderson, Tata McGraw-Hill

5.

Management Information System by James A O Brien, Galgotia

6.

Management Information System by Laudon & Laudon, Prentience Hall India

7.

Managing Information System by O Brien Marakas, Tata McGraw Hill

8.

Comdex Tally 9 by Dr. Namrata Agrawal & Sanjay Kumar, DreamTech Press

9.

Networks Design and Management by Steven T. Karris , Orchard Publications.

Management of Organization and People

Paper Code : 104
Scheme of Evaluation

Objective of the Paper

1.

Continuous evaluation in the form of assignments, surprise 30%

quizzes, and, Case presentations
2. End term
70%
Total Marks : 100
: The course is intended to make the participating officers aware of the
fundamentals of management and their significance in managing the
organization. It also aims to make the officers know what affects human
(employee) behaviour at work so that they can make their subordinates
to work more and better.

Unit I
Management: Meaning and Definition, Scope, Importance, Principles, Functions of Management, Social
Responsibility of Management. Evolution of Management Thought,
Unit - II
O.B.: Introduction: Definition, Nature and Scope of O.B., Contributing Disciplines to O.B., O.B.
Process, Models of (O.B.)
Unit - III
Individual Perspective: Personality; Attitudes, Values and Job Satisfaction; Learning; Motivati
Unit - IV:
Group Dynamics: Group Behaviour; Organizational Conflicts; Job Stress; Communication; Leadership;
Power and Politics.
Unit - V
Organizational Perspective: Organizational Structure; Organizational Culture; Organizational Change
and Development; Quality of Working Life (QWL); International Organizational Behaviour.

Recommended Books
1.

Govindarajan & Natarajan: Principles of Management, Prentice Hall of India Private Limited, New
Delhi.

2.

Stoner, Freeman & Gilbert, Jr.: Management, Prentice Hall of India private Limited, New Delhi.

3.

Tripathy & Reddy: Principles of Management, Tata McGraw-Hill Publications, New Delhi.

4.

4.

5.

Udai Pareek: Understanding Organizational Behaviour, Oxford University Press, New Delhi.

6.

Stephen P. Robbins: Organizational Behaviour, Prentice Hall of India Private Limited, New Delhi.

7.

S. S. Khanka: Organizational Behaviour: Text and Cases, S. Chand & Company Limited, New Delhi.

Fred Luthans: Organizational Behaviour, Tata McGraw-Hill Publications, New

Delhi.

Business Mathematics
Paper Code: 105
Scheme of Evaluation

Objective of the Paper

1.

Continuous evaluation in the form of assignments, surprise 30%

quizzes, and, Case presentations
2. End term
70%
Total Marks :
50
: To improve the understanding of basic mathematical functions and their
use.

Pre-requisite: None
1.
2.
3.
4.
5.
6.

7.

Linear, quadratic, exponential, and logarithmic functions; concept and determination of break-even
point.
Arithmetic and geometric progression including series.
Permutations and combinations.
Matrices: meaning and operations; matrix inversion; solution to system of linear equations by
matrix inversion as well as pivotal reduction method.
Graph of linear inequalities in two variables.
Elements of differentiation, simple application of differential coefficient, maxima and minima of
univariate functions; rules of integration for indefinite and definite integrals; simple application of
integration to accounting and business problems.
Mathematics of finance; simple and compound interest, annuity, sinking fund, present value of an
annuity/amortisation, present value concept in capital expenditure, leasing and bonds

Recommended Books
1.

Business Mathematics for Business and Economics by JK Sharma, Asian Books

2.

Business Mathematics and Statistics by AP Verma, Asian Books

Corporate Communication
Paper Code : 106
Scheme of Evaluation

Objective of the Paper

1.

Continuous evaluation in the form of assignments, surprise 30%

quizzes, and, Case presentations
2. End term
70%
Total Marks :
50
: The course is aimed at equipping the students with the necessary
techniques and skills of communication to inform others, inspire them
enlist their activity and willing cooperation in the performance of their
jobs.
Unit - I

1. Role of Communication in Business Objectives of Communication The Process of Human

Communication Media of Communication Written Communication Oral Communication
Face of Face Communication Visual Communication Audio Visual Communication Skills
Understanding Cultural Effects of Communication- Barriers of Communication..
Unit - II

2. Managing Organization Communication Formal Communication Informal Communication

Intra and Inter Personal Communication Models for Inter Personal Communication Exchange
Theory, Joharl Window and Transactional Analysis. Managing Motivation to Influence
Interpersonal Communication Inter Personal Perception Role of Emotion in Inter Personal
Communication Communication Styles Gateways to Effective Interpersonal Communication.
Unit - III

3. Business Writing Skills Significance of Business Correspondence, Essentials of Effective Business

Correspondence Business Letter Structure and Forms, Oral Presentations Meetings, Telephone
Communication Use of Technology in Business Communication, E-mail Messages.
Unit IV

4. Report writing meaning and significance: structure of reports: negative persuasive and special
reporting: Informal reports proposals; formal reports; organization of pres report.
(Case study is optional in all units)
Recommended Books
1.

Jerry C, Wofford, Edwin, A. Gerloff and Robert C. Cummins: Organisational

Communication

The Key stone of Managerial Effectiveness.

2.

Biswajit Das: Business Communication Personality Development - Excel Publications.

3.

McGrath: Basic Managerial Skills for All - 5th Edition, Prentice Hall of India.

4.

Urmila Rai & S.M. Rai: Business Communication - Himalaya Publishers, Mumbai.

5.

Meenakshi Raman: Business Communication - Oxford University Press.

6.

Bovee, Thill and Schatzman: Business Communication Today - Pearson Education.

7.

Parag Diwan: Business Communication - Excel Publications.

8.

Lesikar 1 Flatley: Basic Business Communication - Tata McGraw Hill.

9.

Mohan: Developing Communication Skills - McMillan.

Public Financial Administration

Paper Code : 107
Scheme of Evaluation

1.

Continuous evaluation in the form of assignments, surprise

quizzes, and, Case presentations
End term
Total Marks :

2.
Objective of the Paper

Unit - I
Public Financial Administration

a.
b.
c.
d.
e.
f.
g.
h.
i.
j.
k.
2.

Public Finance
Theory
Fiscal functions
Principles of federal finance
Indian Public Finance
Public financial administration.
Parliamentary Financial Committees
Estimates Committee
Public Accounts Committee
Committee on Public Undertakings

Standing Committee for scrutiny of demands for grants

Public Expenditure

a. Concept & theory expenditure classification plan & non-plan, capital and revenue
expenditure

b.
c.
d.
e.

70%
100

Providing the participants a broad understanding of the current

theories and practices in Public Financial Administration.
Helping the participants to understand taxation policy, management
of public expenditure, public debt and budgetary techniques and
practices. The coverage of the subject will be with special emphasis
on Indian experience.
Sensitizing the participants to identify contemporary issues in
Public Financial Administration in India context, and to appreciate
policy prescriptions light of theories and practices.

Contents

1.

30%

Management and control

Contemporary issues
Trends in public expenditure
Expenditure Reforms
Unit - II

3. Revenue
a. Taxation - principles and approach to an efficient tax system
b. Direct and indirect taxes
c. Incidence and impact of taxation
d. Shifting of Tax Burden
e. Laffer's curve
f. Tax Buoyancy
g. Trends in tax and non-tax receipts.
4. State Finance
a. Finance Commission

b.
c.
d.
e.
f.
g.
h.
i.
j.

Budgeting
Objectives of budgeting
Constitutional provisions for preparation and presentation of budget
Finance Act & Appropriation Act
Approaches to Budgeting
State Government Budgets approach, objectives and constraints
Budget classification
Implementation & monitoring of budget
Budgetary reforms
Unit III

5.

6.

Public Debt

a.
b.
c.
d.
e.

Meaning & management

a.
b.
c.
d.
e.

Public Investment

Instruments
Borrowing powers of Union and States
Role of RBI/Debt Management Office

External assistance - monitoring and management

Fiscal Management - FRBMA
Concept and purpose of developmental finance
Programming and management
Role of Planning Commission
Role of External agencies
Unit IV

7. Latest Issues

a.
b.
c.
d.
e.

Centrally sponsored schemes/projects appraisal & implementation

Public private partnership initiatives - Indian and international perspective
Fiscal policy and reforms
New Public Management & best global practices in public financial administration
Any other topic of contemporary concern

Note : One week's attachment of the participating officers to the Bureau of Parliamentary Studies, New
Delhi is proposed as part of this syllabus. The syllabus dealing with Parliamentary Financial
Committees may be covered during this attachment. However, alternatively, suitable guest faculty may
be invited to speak on the topic.

Books and References:

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.

Business Environment : Suresh Bedi, Excel Books, 2007.

Budget Speech (2007-08) of the Union Finance Minister, Government of India.
Budgetary Reforms and Expenditure Management in Government : B.P. Mathur (ed), National
Institute of Financial Management, Mudrit, 1999.
Budgeting & Public Financial Management in India : U S Pant, Impact Books, 1998.
Fiscal Policy & Public Policy & Good Governance : Parthasarathi Shome (ed), Control of Public
Money : A Premchand, Oxford University Press, 2000.
India : Fiscal Decentralization to Rural Governments, World Bank 2007.
Managing Government Expenditure; Salvatore Schiavo-Campo and Danial
National Institute of Public Finance and Policy (NIPFP), 1997.
Public Finance in Theory & Practice : R A Musgrave & P B Musgrave, Tata McGraw Hill, 2007.
Public Finance Theory and Practice; K P M Sundaram and K K Andley : S. Chand, 2001.
Public Finance in Theory & Practice; Hollwy Ulbrich; Thomson - South Western, 2007.
Public Finance : Harvey & Rosen, McGraw Hill International Edition, 2005.
Public Expenditure Management : A Premchand, International Monetary Fund, 1993.
Public Finance: H L Bhatia, Vikas Publishing House, 2006.
Public Finance : Policy Issues for India : Sudipto Mundle (ed), Oxford University Press, 1997.
Managing Government Expenditure; Salvatore Schiavo-Campo and Danial Tomasi : Asian
Development Bank, 1999.
Constitution of India.
Central Government Budget.
Economic Survey.
Various Reports of Finance Commission
Various Reports of Expenditure Reforms Commission.

Financial Management I
Paper Code : 108
Scheme of Evaluation

Objective of the Paper

1.

2.
3.

4.

5.

6.

7.

8.
9.

1.

Continuous evaluation in the form of assignments, surprise 30%

quizzes, and, Case presentations
2. End term
70%
Total Marks : 100
: During the course, the participants will:
gain knowledge of principles and concepts used in financial decision
making;
be able to find out the best course of action among several financial
options;
learn to value different financial products; and
gain the understanding to apply financial concepts and principles in
overall management of an employee.

Unit - I
Financial Management An Overview
Finance and Related Disciplines; Scope of Financial Management; Objectives of Financial
Management; Primary Objective of Corporate Management; Agency Problem; Organization of
Finance Function; and Emerging role of Finance Managers in India.
Time Value of Money
Rationale; Techniques; Practical Applications of Compounding; and Present Value Techniques.
Risk and Return
Conceptual Framework of Risk and Return: Type of Risks; Risk and Return of a Single Asset; Risk
and Return of Portfolio (only two asset portfolio); Portfolio Selection; and Capital Asset Pricing
Model (CAPM)
Unit II
Capital Budgeting Principles and Techniques
Nature of Capital Budgeting; Data Requirement; identifying Relevant Cash Flows; Evaluation
Techniques; and Capital Budgeting Practices in India
Capital Budgeting Additional Aspects
Net Return Value; Internal Rate of Return; Profitability Index Methods A Comparison; Project
Selection Under Capital Rationing; and Inflation and Capital Budgeting.
Analysis of Risk and Uncertainty in Capital Budgeting
Description and Measurement of Risk; and Risk Evaluation Approaches.
Unit III
Concept and Measurement of Cost of Capital
Importance and concept; Measurement of Specific Costs; Computation of Overall Cost of Capital;
and Cost of Capital Practices in India.
Operating, Financial and Combined Leverage
Operating Leverage; Financial Leverage; and Combined Leverage.
Capital Structure Cost of Capital and Valuation
Capital Structure Theories; Net Income Approach; Net Operating Income (NOI) Approach;
Modigliani-Miller (MM) Approach; and Traditional Approach

10. Designing Capital Structure

Profitability Aspect; Liquidity Aspect; Control; Leverage Ratios for other Firms in the Industry;
Nature of Industry; Consultation and Investment Bankers and Lenders; Maintaining
Maneuverability for Commercial Strategy; Timing of Issue; Characteristics of Company; Tax
Planning; and Capital Structure Practices in India.

11.
12.

1.
2.
3.
4.
5.
6.
7.
8.

Unit IV
Dividend and Valuation
Irrelevance of Dividends; and Relevance of Dividends.
Determinants of Dividends Policy
Factors; Dividend Policy in India; Bonus Shares (Stock dividend) and Stock (Share) Splits; Legal,
Procedural; and Tax Aspects associated with Dividend Decision.

Books and References:

Khan, M.Y & Jain, P.K.: Financial Management; Tata McGraw Hill, New Delhi, 2008.
Pandey, I. M.: Financial Management; Vikas Publishing House, New Delhi, 2005.
Chandra, Prasana: Financial Management; Tata McGraw Hill, New Delhi, 2008.
Brealey and Meyers: Principles of Corporate Finance: Tata McGraw Hill, New Delhi, 2008.
Keown, Martin, Petty and Scott (Jr): Financial Management: Principles and Applications; Prentice
Hall of India, New Delhi, 2002.
Gitman, L.J: Principles of Managerial Finance; Addison Wasley, 2009.
Vanhorne, James C: Financial Management and Policy; Prentice Hall of India, New Delhi, 2002.
Kishore Ravi, M: Financial Management; Taxman, 2006.

SECOND TRIMESTER

Management Accounting
Paper Code: 201
Scheme of Evaluation

1.
2.

Objective of the Paper

Continuous evaluation in the form of assignments, surprise

30%
quizzes, and, Case presentations
End term
70%
Total Marks
100
To help understand costing and management accounting techniques that
could be utilized for decision making and control.

Contents:
Unit I
1.

(Measurement of Cost Elements)

a. Cost Concepts, Management Accounting: Cost Information that Creates Value, Management
Accounting: Differences from Financial Accounting.

b. Material Cost: Material cost and valuation of material purchases, Pricing of material issues,
Pricing of returned materials, Stock valuation.

c. Overhead: Overhead - nature and classification, Procedure of linking overhead to cost units.
Classification and collection of overhead, Allocation and apportionment of overhead, Overhead
absorption and departmentalization of expenses, Overhead absorption rates and their relative
merits.
Unit II
(Product Costing)

2.

a. Cost Sheet, Process Costing: Process costing, Impression of process & job costing, Equivalent
units, Normal and abnormal losses and gains, Joint products and by products.

b. Activity Based Costing: Activity based costing for service industries, Activity based costing for,
manufacturing.
Unit III
3

(Profit Planning and Decision Making)

a. Marginal costing and break-even analysis: Marginal costing - nature and scope, Marginal cost
determination, Cost-volume profit relationship, Marginal cost equations and break even
analysis, Marginal costing versus absorption costing (income effects of alternative inventory
costing method), Uses and applications of Break Even Analysis .

b. Decision Making : Introduction, Pricing techniques and strategies, Own or Lease, Sell or Scrap;
Retain or replace and repair or renovate, Sell or further process, Incremental reasoning in
pricing; product pricing; new product pricing, Product decisions - product modification
decision; product elimination decision, product mix decision; product distribution decision.
Relevant costs and irrelevant costs. Incremental analysis / differential costing as a tool of
decision making: Pricing, Product Decisions.
Unit IV
4.

(Cost Control)

a.

Budgetary Control: Budgets as Key to Planning & Control, Budgets, budgetary control,
Budget preparation & monitoring procedures, Functional, Cash & Master Budget, Flexible
Budgets.

b.

Standard costing and analysis of variances: Standard costing & budgetary control,
Establishment of standard costs - keeping standards meaningful and relevant, Accounting
for standard costs, Analysis of variances: Material, Labour, Overhead, and Profit. (Usage,
Price, Volume & Sale Price variances)

c.

Divisional Performance Measurement and Transfer Pricing

Books & References

1.
2.
3.
4.
5.

Khan, M.Y and P.K. Jain: Management Accounting: Text, Problems and Cases, Tata-McGraw Hill,
New Delhi, 2007.
Dearden and Bhattacharya: Management Accounting
M.N. Arora: Cost Accountancy: Vikash Publishing, New Delhi, 2004.
Anthony and Dearden: Management Accounting : Books and Cases
Grewal and Ramanathan: Management Accounting

Financial Markets and Institutions

Paper Code: 202
Scheme of Evaluation

Objective of the Paper

1.

Continuous evaluation in the form of assignments, surprise

30%
quizzes, and, Case presentations
2. End term
70%
Total Marks
100
: To provide an overall understanding of Indian Financial System. It aims
at discussing the different components of Indian Financial Systems viz.,
Financial Institution, Financial Markets and Financial Instruments.

Contents
Unit I
Financial System and Economic Development
Interrelationship between financial system & economic development, Interest rate components &
dynamics.
Unit II
2. Financial Markets
Reserve Bank of India, CCIL, government securities market, money market, Money market
instruments - call money & notice money, treasury bills (TBs), commercial papers (CPs),
certificate of deposits (CDs), commercial bills, repos.
Unit III
3. Capital Market
SEBI, equity market, primary market, secondary market, debt market, Indian Foreign Exchange
Market - Foreign Exchange Management Act (FEMA)
1.

4.

1.
2.
3.
4.
5.
6.
7.
8.

Unit IV
Financial Institutions
Banking institutions, non-banking financial companies, mutual funds, insurance organizations,
development finance institutions
Books and References:
Khan M Y : Indian Financial System, Tata Macgraw Hill, New Delhi 2000
Bhole, L M : Financial Institutions and Markets : Structure Growth and Innovations. 2nd
edition : New Delhi : Tata McGraw Hill, 1992. 572p.
Srivastava, R M : Financial Institutions in Indian Financial Institutions. 3rd revision ed.
Mumbai: Himalya Publishing House, 1996, 734p.
I M Pandey, Financial Management: Vikas Publishing House, New Delhi.
Prasanna Chandra, Financial Management: Tata Mc-Gaw Hill Co., New Delhi.
Reserve Bank of India Annual Report 1999 2000.
Report on Development Banking : Industrial Development Bank of India, 1995.
Economic Survey 1999 2000.

Direct and Indirect Taxes: Planning & Control

Paper Code: 203

Scheme of Evaluation

Objective of the Paper

1.

Continuous evaluation in the form of assignments, surprise

30%
quizzes, and, Case presentations
2. End term
70%
Total Marks
50
: To impart training of application of different type of tax laws so that one
can solve any real life cases related to Direct and Indirect Taxes.
Unit - I

Income Tax
1.

Introduction
~ Basic Concepts
~ Residential Status & Incidence of Tax

Income Exempt from Tax

~ special Reference to provisions for 100% EOU and Units established in FTZ/SEZ
2.

Computation of Income
~ Salaries
~ Income from House Property
~ Income from Business & Profession
~ Capital Gains
~ Income from other sources-15 Hours

Unit - II
Set off and Carry forward of Losses
Deductions
Deduction of Tax at source (TDS) and Advance payment of Tax
Assessment of Individual and Companies
Filing Return of Income - 10 Hours
Unit III
Central Excise
1.
Introduction to Excise Duty
2.
Basic Procedure under Central Excise
3.
Excisable Goods
4.
Manufacture/production and Manufacturer/Producer
5.
Classification of goods
6.
Valuation of Goods
7.
CENVAT
8.
Duty drawback-10 Hours
Unit IV
Customs Duty
01
Introduction to Customs Duty
02
Types of customs Duty
03
Classification of goods
04
Valuation of Goods
05
Import and Export Procedure
06
Export Promotion Schemes and Duty Drawback
1.
2.
3.
4.
5.

Service Tax
1. General Provisions relating to Service tax
2. Taxable Services
Introduction of Goods & Service Tax (GST)-10 Hours
Books Recommended:
1.
2.

Indirect Taxes Law and Practice; V.S. Datey, Taxmanns

Student Guide to Income Tax including Service Tax/VAT, Dr. Vinod K. Singhania, Dr.
Monica Singhania, Taxmanns.

Business and Corporate Laws

Paper Code: 204
Scheme of Evaluation

Objective of the Paper

1.

Continuous evaluation in the form of assignments, surprise

30%
quizzes, and, Case presentations
2. End term
70%
Total Marks
100
: The course is designed to assist the participants in understanding basic laws
affecting the operations of a business enterprise.

Unit - I
Brief History of Law & Source of Law - Importance of Commercial law The Indian contracts act 1872nature of the act and classification of contracts essentials of a valid contract offer and acceptance
capacity consideration free consent legality of object - Contract Contingency Bailment Pledge Indemnity & Guarantee - performance of a contract - discharge of a contract - breach of a contract and
remedies.
Unit - II
The Sales of Goods Act: Introduction to Act. Distinction between Sale and Agreement to Sell
Conditions and Warranties Performance of Contract of Sale Transfer of Ownership Rights of an
Unpaid Seller.
Contract of Agency: Meaning and Nature of Agency Kinds of Agents Creation of Agency Duties and
Rights of Principal Duties and Rights of Agents Principals liability for the Agent Personal Liability of
Agent Termination of Agency.
The Consumer Protection Act, 1986: Introduction to Act Consumer Right Machinery for redressal of
consumer grievances.
Unit - III
The Negotiable Instruments Act 1881 Characteristics of Negotiable Instruments Kinds of Negotiable
Instruments Parties to a Negotiable Instrument Endorsement Presentation of Negotiable Instrument
Discharge of a Negotiable Instrument Discharge of Negotiable Instrument.
Arbitration: overview. Right to Information Act. Basic Provisions of Intellectual Property Rights.
Unit IV
Companies Act 1956: Incorporation of Companies Company as form of business organization and its
features, formation of a company submission of documents for incorporation to the Registrar of
Companies Memorandum of Association- Articles of Association - Declaration of completion of
formalities by a professional / a Director of the Company. Shares and membership of Company
Prospectus (Schedule II) - Kinds of Shares and Borrowing powers Issue of Debentures Allotment of
shares -Issue and redemption of Shares and Debentures. Management of Company - Role and Powers of
Board of Directors -Role and Powers of shareholders.
SEBI Act 1992: An overview of the Act - Public Issue of Securities.
Recommended Books
1.
2.
3.
4.

Mercantile Law by N.D.Kapoor; Sultan Chand & Co., New Delhi.

Mercantile Law by S.S. Gulshan; Excel Books, Naraina Phase-I, New Delhi.
Principles of Mercantile Law (Eighth Edition) by Avtar Singh; Eastern Book Company, Lucknow.
Intellectual Property Law in India by Narayan P.S.; Gogia Law Agency, Hyderabad.

Financial Reporting Standards

Paper Code : 205
Scheme of Evaluation

Objective of the Paper

1.

Continuous evaluation in the form of assignments, surprise

30%
quizzes, and, Case presentations
2. End term
70%
Total Marks
50
:
to familiarize the participants the various aspects of treatment,
measurement, presentation, and disclosure of accounting events and
transactions by Financial Reporting Standards; and
to apprise the participants the difference between Indian Accounting
Standards and International Financial Reporting Standards / Indian
Accounting Standards.

Contents

1.

Unit I
A Review of National Accounting Standards, International Accounting Standards and US GAAP

2.

General Accounting Standards

3.
4.

Disclosure of accounting policy

AS 1 IAS 1
Provisions, Contingencies and Events occurring after the balance sheet date
AS 4 & AS 29 IAS 10 & IAS 37
Net profit or loss for the period, prior period items and changes in accounting policies.
AS 5 IAS 8
Revenue recognition
Revenue recognition
AS 9 IAS 18
Construction contracts
AS 7 IAS 11
Unit II

Asset related Accounting Standards

Accounting for fixed assets
AS 10 IAS 16
Depreciation accounting
AS 6 IAS 16
Accounting for leases
AS 19 IAS 17
Accounting for intangible assets
AS 26 IAS 38
Valuation of inventories
AS 2 IAS 2
Borrowing cost
AS 16 IAS 23
Impairment of Assets
AS 28 IAS 36

Unit III
Disclosure related accounting standards
Cash flow statements
AS 3 IAS 7
Segment reporting
AS 17 IAS 14
Related party disclosure
AS 18 IAS 24
Earning per share
AS 20 IAS 33
Discontinuing operation
AS 24 IAS 35
Unit IV
Investment related accounting standards
Accounting for investments
AS 13 IAS 39 & IAS 40
Accounting for amalgamation
AS 14 IAS 22
Consolidated financial statements
AS 21 IAS 27
Accounting for investments in associates in consolidated financial statements
AS 23 IAS 28
Financial reporting of interest in joint venture
AS 27 IAS 31
Other Accounting standards
Accounting for the effects of changes in foreign exchange rates
AS 11 IAS 21
Accounting for Government grant
AS 12
Accounting for retirement benefits in the financial statements of employers
AS 15 IAS 19
Accounting for taxes on income
AS 22 IAS 12
Interim financial reporting
AS 25 IAS 34
New Accounting Standards
Recommended Books:

Accounting Standard by Shri D.S. Rawat (Taxman Publication)

Accounting Standard by Prof. Ashish Bhattacharya (Snow white Publication)
Compendium of the Accounting Standard - ICAI

Panel of Guest Faculty:

Shri Gaurav Vohra, Price Waterhouse Coopers
Shri Tarun Chaturvedi, Professor, MDI, Gurgaon
Shri D.S. Rawat, FCA
Shri Raj Aggarwal, FCA
Dr. Avinash Chander, Director, ICAI

Financial Management II
Paper Code: 206
Scheme of Evaluation

Objective of the Paper

1.

Continuous evaluation in the form of assignments, surprise

30%
quizzes, and, Case presentations
2. End term
70%
Total Marks
100
: During the course, the participants will:

gain expert knowledge of principles and concepts used in finance;

be able to find out the best course of action among several financial
options;

gain the understanding to apply financial concepts and principles in

overall management of an enterprise;

learn to manage short-term resources of a business firm; and

have an idea as to how financial management decisions are taken in

the Public Sector Undertakings.

Unit - I
1.

2.

Working Capital Management An Overview:

Nature of Working Capital; Planning of Working Capital; Computation of Working Capital; and
Management of Working Capital in India.
Management of Cash and Marketable Securities:
Motives for Holding Cash; Objectives of Cash Management; Factors Determining Cash Needs; Basic
Strategies of Cash Management; Cash Management Techniques / Processes; Marketable Securities; and
Cash Management Practices in India.

3.

Receivable Management:
Objectives; Credit Policies; Credit Terms; and Collection Policies

4.

Inventory Management:
Objectives; and Techniques.

5.

Working Capital Financing:

Trade Credit; Bank Credit; Commercial Papers; Certificate of Deposits (CDs); and Financing.
Unit II

6.

Introduction to Long Term Sources of Finance

7.

Equity/Ordinary Shares:
Fundamentals of Equity Shares; and Issue Procedures.

8.

Term Loans, Debentures / Bonds and Securitization:

Terms Loans; Debentures/Bonds/Notes; and Securitization.

9.

Hybrid Financing Instruments:

Preference Share Capital; Convertible Debentures/ Bonds; Warrants; and Options

10. Venture Capital Financing:

Theoretical Framework; and Indian Venture Capital Scenario.

11. Lease Financing and Hire-Purchase Finance:

Lease Financing; and Hire Purchase Finance.
Unit III
12. Business Valuation:
Conceptual Framework of Valuation; Approaches/Methods of Valuation; and other Approaches to
Value Measurement.
13. Option Valuation:
Concept and Types of Options; Option Payoffs; Call Option Boundaries; Factors Influencing Option
Valuation; and The Black-Scholes Option Pricing Model.
Unit IV
14. Corporate Restructuring:
Conceptual Framework; Financial Framework; Tax Aspect of Amalgamation; Merger and Demergers; Legal and Procedural Aspects of Mergers/Amalgamations and Acquisition/Takeovers; and
other forms of Corporate Restructuring.
15. Financial Management of Public Sector Undertakings (PSUs):
Peculiarities of PSUs with Focus on Accounting and Finance; Financial Decisions in PSUs;
Memorandum of Understanding (MoU) in PSUs; and Disinvestment in Public Sector Enterprises.

Books & References

1.
2.
3.
4.
5.
6.
7.
8.

Khan, M.Y & Jain, P.K.: Financial Management; Tata McGraw Hill, New Delhi, 2008.
Pandey, I. M.: Financial Management; Vikas Publishing House, New Delhi, 2005.
Chandra, Prasana: Financial Management; Tata McGraw Hill, New Delhi, 2008.
Brealey and Meyers: Principles of Corporate Finance; Tata McGraw Hill, New Delhi, 2008.
Keown, Martin, Petty and Scott (Jr): Financial Management; Principles and Applications; Prentice
Hall of India, New Delhi, 2002.
Gitman, L.J: Principles of Managerial Finance; Addison Wasley, 2009.
Vanhorne, James C: Financial Management and Policy; Prentice Hall of India, New Delhi, 2002.
Kishore Ravi, M: Financial Management; Taxman, 2006.

Business Data & Network

Paper Code: 207
Scheme of Evaluation

Objective of the Paper

1.

Continuous evaluation in the form of assignments, surprise

30%
quizzes, and, Case presentations
2. End term
70%
Total Marks
100
:
To introduce the learners with effective and systematic ways of data
management in a networking environment. To ensure effective
communication with the database and also to give exposure on
networking in an office environment.

1.

Basic Concepts: Data Modeling, Entities and their attributes, Relationship, Abstraction and data
integration.

2.

Data Models: Data Association, Relationship among entities, Representation of Association and
Relationship, Data Mode Classification, E-R Model, Generalization and Aggregation.

3.

The Relational Data Model: Introduction, Relational Data Base, Attributes, Domains, Tuples,
Relations and their scheme, keys, Relational Operations, Integrity Rules, Relational Algebra,
Relational Calculus.

4.

Relational Data Base Manipulation: Basic Data retrieval, Data Definition and Data Manipulation
Language, SQL, Arithmetic and Aggregate Operators, query & data extraction, Introductions to
QUEL and Embedded Data Manipulation Language QBE.

5.

Relational Data Base Design: Relational scheme and Relation Design, Anomalies in Data Base,
Consequence of Bad Design, Universal Relation, Functional Dependency, logical implication of
functional dependencies, Closure of a set of FDs Covers, Non-redundant and Minimum Cover,
Lossless Join and Dependency Preserving Decomposition Normal Forms (NF); Decomposition in
First, Second and Third Normal Form, Boyee Codd Normal Forms (BNCF).

6.

Network and Hierarchical Data Model: Concurrency Management, Data Base Security, Integrity
and control; Lost Update Problem, Inconsistent Read Problem, The Phantom phenomenon,
serializability, Concurrency Control, Locking Schemes, Security and Integrity Threats, Defence
Mechanism.

7.

Advance Networking: Transmission media, Client Server Technology, Switching Techniques,

Communication Processors, Interconnecting Devices, Ports, OSI Model, DSL, ISDN, Public &
Private Networks, Virtual Private Network, Broadband etc.,

8.

Wireless Communication: Wireless Fidelity, Wi-Max, Modulation techniques-linear, constant

envelope, combined (linear and CE), spread spectrum; Multiple access techniques, IP Addressing,
Firewalls etc. Software Oracle, Ethereal

Recommended Books:
1.
2.
3.
4.
5.
6.
7.
8.

Oracle-7: The Complete Reference by Ivan Bayross, BPB

First step to Oracle by Srikanth MV
Computer Networks by Andrew S. Tanenbaum, Prentice - Hall
Simplified Network Solution by Dincan, Thomas, Novel Netware Lite;
Data Communication, Networks & Systems by Bartee, C. Thomas
Wireless Communications - Principle and Practice by T.S.Rappaport, Pearson Education
Wireless Communications and Networks by William Stallings, Pearson Education
Mobile Communication Engineering - Theory and Applications by William C.Y.Lee, McGraw-Hill,
1998

THIRD TRIMESTER

Human Resource Management (HRM)

Paper Code : 301
Scheme of Evaluation

1.
2.

Objective of the Paper

Continuous evaluation in the form of assignments, surprise 30%

quizzes, and, Case presentations
End term
70%
Total Marks
100
The primary objective of the paper Human Resource Management is
to introduce the learner the various aspects of managing people at
work. It mainly includes how to procure, develop, retain and control
people at work in the organization. Such knowledge facilitates the
manager/administrator to better deal with people in getting the
required work done from them.

Contents
1.

2.

3.

4.

Unit I
Acquisition :-Nature and scope of human resource management, its evolution and development,
human resource planning, job analysis and design, recruitment, placement, and induction.
Unit II
Development :- Career planning and development, employee training, executive development,
internal mobility and separation.
Unit III
Maintenance :- Job evaluation, wage and salary, incentives, motivation, workers participation in
management, employee discipline and grievance, industrial disputes, industrial relations, trade
unions, collective bargaining, performance and potential appraisal.
Unit IV
Control :-Personnel research and audit, human resource accounting, human resource information
system, human resource management in changing environment, international human resource
management.
Books & References

1.
2.
3.
4.
5.
6.
7.

Gray Dessler: Human Resource Management, Pearson Education, Delhi, 2008.

Biswadeep Pattanayak: Human Resource Management, Prentice Hall of India Private Limited,
Delhi, 2007.
S.S.Khanka: Human Resource Management, S. Chand & Company Limited, New Delhi, 2008.
Wayne Cascio: Human Resource Management, McGraw Hill Education (India) Limited, Noida,
2006
C.S. Venkatratnam: Industrial Relations, Oxford University Press, New Delhi, 2007
John M. Ivancevich: Human Resource Management, Tata McGraw-Hill Publishing Company
Limited, New Delhi, 2007
P. Jyoti and D. N. Venkatesh: Human Resource Management, Oxford University Press, New Delhi,
2006.

Marketing Management (MM)

Paper Code: 302
Scheme of Evaluation

1.
2.

Objective of the Paper

Continuous evaluation in the form of assignments, surprise

30%
quizzes, and, Case presentations
End term
70%
Total Marks
100
The objective of this course is to develop an understanding of the
concepts, strategies and issues involved in marketing.

Contents
Unit - I
Importance and scope of marketing concepts
Marketing environment
Marketing and customer value
Marketing planning
Unit - II
Marketing information system and marketing research
Consumer behaviour and buying decision process
Customer life time value
Market segmentation, and targeting.
Unit III
Development of marketing
Product development product mix
Product differentiation
Product life cycle management brand equity brand positioning
Packaging.
Pricing strategies and programs: setting the price adapting the price initiating response to price changes.
Delivering value
Designing and managing value net works
Channels of distribution.
Unit IV
Communicating Value
Designing and managing integrated marketing communications, advertising
direct marketing and personal setting
sales promotion events and public relations, competitive marketing strategies.
Marketing Strategy and Control
Appraisal of different marketing strategies,
Types of marketing controls and strategic marketing control
Managing a Holistic Marketing Organization.
(Case Studies)

Books and References

1.
2.
3.
4.
5.
6.
7.
8.
9.

Philip Kotler and Kevin Lane Keller - Marketing management - Prentice Hall of India, Pearson
Education New Delhi, 2007.
Rajan Saxena Marketing Management Tata McGraw Hill Publishing, 2006.
V.S. Ramaswami and S. Namakumari - Marketing management, MacMillian Business books, Delhi,
2005.
Arun Kumar and N. Meenakshi Marketing Management, Vikas Publications, 2006.
S. Jayachandran - Marketing management text and cases, Excel Publications.
Palmer Introduction to marketing, Oxford University Press.
William J. Stanton & Futrell Fundamentals of Marketing.
Keith Blois Oxford text book of marketing Oxford University Press.
Rajiv Lal, John A. Quelch & V. Kasturi Rangan - Marketing Management, Tata McGraw Hill.

Information Technology for Finance (ITF)

Paper Code: 303
Scheme of Evaluation

1.
2.

Objective of the Paper

Continuous evaluation in the form of assignments, surprise

30%
quizzes, and, Case presentations
End term
70%
Total Marks
100
To keep abreast the learners the effective use of the various methods and
tools as available in the area of ICT for financial planning and analysis.
This will help the professionals in planning and decision making.

Contents
Unit I
Application of Spreadsheet in Finance
Introduction to Spreadsheet and its uses, Navigating the Worksheet (Selecting a Range of Cells, Entering
Text and Numbers, Formatting and Alignment Options, Number Formats, Entering Formulas, Copying
and Moving Formulas, Mathematical Operators, Parentheses and the Order of Operation), Using MsExcel Built-in Functions (Range Names, Lookup Functions, The Index Function, Date Functions).
Pictorial Representation of Financial Data
Introduction, Basic Concepts, Frequency Tables and Histograms, Analyzing Relationship with Scatter
plots, Exploring Data with Pivot Tables, Case Studies.
Unit II
Capital Budgeting using Excel
Estimating the Cash Flows, Making the Decision (The Payback Method, The Discounted Payback
Period, Net Present Value, The Profitability Index, The Internal Rate of Return, Problems with the IRR,
The Modified Internal Rate of Return), Sensitivity Analysis.
Applications of Tally in Finance
Case Studies using Accounting Software Tally, Basic accounting concepts, Double Entry System,
Ledgers, Groups, Trial Balance, Balance Sheet, Profit and Loss Statement, Cash Flow / Fund Flow
Statements, Statement of Accounts, Case Studies.
Tally in Inventory Management
Creation of Stock Items, Units, Cost Centers, Reorder Level, Stock Registers, Case Studies
Unit III
Regression Analysis: Estimating Relationships
Introduction, Scatter plots: Graphing Relationships, Correlations: Indicators of Linear Relationships,
Simple Linear Regression, Multiple Regression, Modeling Possibilities, and Validation of the Fit etc.
Optimization using Excel Solver
An Introduction to Optimization with the Excel Solver, Using Solver to Determine the optimal Product
Mix, Using Solver to Solve Transportation on Distribution Problems, Using Solver to Schedule Your
Workforce, Using Solver for Capital Budgeting, Using Solver for Financial Planning.
Unit IV
Evaluating Performance with Financial Ratios
Liquidity Ratios (The Current Ratio, The Quick Ratio), Efficiency Ratio (Inventory Turnover Ratio,
Accounts Receivable Turnover Ratio, Average Collection Period, Fixed Asset Turnover Ratio, Total
Asset Turnover Ratio), Leverage Ratios (The Total Debt Ratio, The Long-term Debt Ratio, The Longterm Debt to Total Capitalization Ratio, The Debt to Equity Ratio, The Long-term Debt to Equity Ratio),
Coverage Ratios (The Times Interest Earned Ratio, The Cash Coverage Ratio), Profitability Ratios (The
Gross Profit Margin, The Operating Profit Margin, The Net Profit Margin, Return on Total Assets,
Return on Equity, Return on Common Equity etc.) Case Study using Software.

Application of Statistical Tools (SPSS / SAS / Statpro)

Books and References
1.
2.
3.

AlBright Winston Zappe, Data Analysis & Decision Making with Microsoft Excel, Duxbury Press,
1999.
Timothy R. Mayes / Toss M. Shank, Financial Analysis for Windows, Dryden Press, 1997.
Wayne L. Winston, Microsoft Excel Data Analysis and Business Modeling, Prentice Hall of India,
2004

Business Statistics (BS)

Paper Code : 304
Scheme of Evaluation

1.
2.

Objective of the Paper

Continuous evaluation in the form of assignments, surprise

quizzes, and, Case presentations
End term
Total Marks
To enable the participants to use basic statistical techniques.

30%
70%
50

Classification and Tabulation of Data

1.
2.
3.
4.
5.

6.
7.

Measures of central tendency and dispersion.

Correlation and regression (linear and bivariate only).
Probability and expected value.
Elements of theoretical distribution: binomial, poison, normal.
Concept of standard error, interval estimation, determination of sample size, tests of hypotheses for
proportions, means including means of paired data, independence of attributes, one population
variance, equality of two variances, analysis of variance.
Time series and forecasting.
Index numbers
Books and References

1.
2.
3.

Statistics for Business and Economics, David Anderson, Denis J Sweeney and Thomas A Williams,
Thomson South-Wester.
Business Mathematics and Statistics by AP Verma, Asian Books.
Business Statistics by JK Sharma 2nd Edition, Pearson Education 2007, New Delhi.

Research Methodology (RM)

Paper Code: 305
Scheme of Evaluation

1.
2.

Objective of the Paper

Continuous evaluation in the form of assignments, surprise

30%
quizzes, and, Case presentations
End term
70%
Total Marks
50
This course of research methodology is for imparting the knowledge of
different areas of research to the students. On the basis of this
knowledge one can solve any real life problem, which will arise during
the service life.

Contents
Unit I
Problem Definition: Nature and purpose of scientific enquiry; Parameters of research; Definition of
construct and variables; Introduction to Research; Research Process; Steps in Research Process.
Unit II
Research Design: Concepts and type of research design, Design of research on the basis of applicationpure and applied. Design of research on the basis of Techniques/Methodology-Exploratory and
Descriptive. Descriptive Research-Qualitative and Quantitative. Quantitative-Field Studies, Field
experiments and laboratory experiments. Design of research on the basis of area of research research
in Social sciences and Physical sciences. Sampling and Data collection: Population and samples,
techniques of sampling-random, stratified, systematic, multistage sampling, primary and secondary
sources of data. Design of questionnaire.
Unit III
Statistical Hypotheses and Test of Significance: Procedure for testing of hypothesis. Determining levels
of significance. Type I and Type II errors. ANOVA: One Way, Two Way, Three Way, Four Way, Five
Way. Chi square test and its application. Students t distribution; Non-parametric statistical technique
(Chi-Square Test, Binomial Test, Runs Test, One-Sample Kolmogorov-Smirnov Test) Parametric
statistical tests, Correlation and Regression Analysis.
Unit IV
Tabulation and Analysis of Data; Selection of appropriate statistical techniques; Interpretation:
Statistical data analysis. Advance techniques in analyzing associative data. Case study Approach:
Identification, analysis and development of case. Report Writing. Application of Statistical Software in
Research Using SPSS.
Books & References
1.
2.
3.

David A. Aaker, (2000): Marketing Research: John Wiley and Sons, USA.
Luck and Rubin, (2001): Marketing Research: Prentice Hall of India, New Delhi.
Tull and Hawkins, (2001): Marketing Research Management and Method: 6th Ed., Prentice Hall of India, New
Delhi.
4. Srivastava, Shenoy and Sharma, (2001): Quantitative Techniques for Managerial Decision: New Delhi.
5. Hair, (2000): Marketing Research: Tata McGraw Hill, New Delhi.
6. Cooper: Business Research Methods: Tata McGraw Hill, New Delhi.
7. Kothari, C. R.: Research Methodology
8. Paneersalvam, R: Research Methodology
9. Marketing Research: Text and Cases : Boyd, Westfall & Stasch (7th edition).
10. Marketing Research an applied orientation : Naresh K Malhotra (4th edition).

Elective
Accounting in Government and Not for Profit Organizations (AG&NPO)
Paper Code : 306
Scheme of Evaluation

Objective of the Paper

1. Continuous evaluation in the form of assignments, surprise

30%
quizzes, and, Case presentations
2. End term
70%
Total Marks
100
: To provide theoretical and practical knowledge about Government
Accounting and Accounting for Non-Profit Organizations

Contents
Unit I
1.
2.
3.
4.
5.
6.
7.
8.

9.
10.
11.
12.
13.
14.

Features of Government Accounts Introduction

Accounting in Govt. - Origin, development & departmentalization of accounts
Accounting system in Non-Civil Ministries / Departments : Railways, Defence, P&T.
Financial Administration in Government An overview
Structure and form of Government Accounts, Consolidated fund, Contingency fund and Public
Accounts
Classification in Govt. Accounts (LMMH), including practical
Deposits, Reserve Fund : Concept and Accounting procedures including practical
Payment systems
Function of DDOs & Controlling officers, preparation of bills
Pre-check of bills and payment in the PAO, methods of payment
Banking arrangements, focal point banking system
Personal account, concept and accounting procedure
PAO 2000 (A Software developed by the O/O CGA)
Electronic payment system
Unit II
Revenue Accounting - Tax & Non-Tax Revenue
Schematic flow of transactions
CG ( receipt & payment rules)
Adjustments through transfer entries including rectification of errors (with practical)
Compilation and Consolidation of accounts - Monthly Accounts, Annual Provision Accounts
Reconciliation of Accounts
Unit III

15. Operation of suspense heads concept and special features including practical. Inter Government
settlement
16. Review of balances and scrutiny of adverse balances
17. Finance accounts - purpose, use, compilation and consolidation
18. Appropriation accounts - purpose, use, compilation and consolidation
19. Reading and analysis of Governments accounts with special reference to the accounts of Railways,
Defence & P&T.
20. Combined finance and revenue account - purpose and use
Unit - IV
21. Accounts Reporting and Reforms; Accrual Accounting in Govt. Issues, problems and Solutions; Tasks
involved in the conversion of Accounts from Cash to Accrual. Cash based Budget vis-a-vis Accrual
based Accounts
22. Accounting for Non-Profit Organizations and Autonomous bodies including universities, Port Trusts
and Urban local bodies
23. Salient features of their Accounts
24. Receipt & Payments account and its preparation; Preparation of Cash flow statements
25. Income and Expenditure account and its preparation
26. Balance Sheet and its preparation

27. Accounting of grants from Govt. and other Institutions

28. Accounting of Earmarked funds and sponsored projects
29. Accounting Standards; Accounting Policies
Books and References

1. Civil Accounts Manual

2.
3.

List of Major and Minor Heads

Central Government Accounts (Receipt &
Payment) Rules
4. Government Accounting Rules
5. Suspense manual
6. Constitution of India
7. Appropriation Accounts Central (Civil)
8. Union Government Principles and Practices
9. Govt. Accounts Principles and Practices
10. Effective Govt. Accounting
11. Report of the Committee of Experts on Uniform
Format of Accounts for Central Autonomous Bodies
12. Report of the Task force on Accounting and Budget
formats for urban local Bodies

Govt. publication
Govt. publication
Govt. publication
Govt. publication
Govt. publication
Govt. publication
Govt. publication
Govt. publication
R. Ramanathan
A. Premchand
November 2000
C&AG India

Elective
Enterprise Management
Paper Code: 307
Scheme of Evaluation

1.
2.

Objective of the Paper

Continuous evaluation in the form of assignments, surprise

30%
quizzes, and, Case presentations
End term
70%
Total Marks
100
The objective of this paper is to prepare the participants for proper
appreciation of the enterprises vis--vis the development objectives
facing the country. The role of public sector and the role of private
sector is equally and uniquely important. Besides, the role played by the
micro, small and medium enterprises is extraordinarily important in the
process of development, depending on the creation of infrastructure,
employment, and generation of income in a broad-based manner. At the
end of the course the participants are expected to have understood the
dynamism of the enterprises facing the overall economic and business
environment.

Unit - I
General Framework
Industrial Developmental Philosophy and Policies
Industrial Organization and Corporate Environment
Regulation of Enterprises in India Legal Aspects, Strategy, Operations, Competitive Environment,
Industrial Policy
Enterprise Policy and Issues in Management
Specific Framework
Public Enterprises India Perspective
Purpose
Organization
Management
Performance
Resources (Financial, Physical, Technological and Human)
Infrastructure
Global-Interface
Specific Policies and Contemporary Issues Concerning Problems and Challenges
Private Enterprises India
Medium and Small Enterprises
Rural Enterprises
Cooperative Enterprises
Micro Enterprises
Unit - II
Planning
Process Planning
Capacity and Location Planning
Enterprise Resource Planning
Management
Management of Change
Project Management in Enterprises
Production and Operations Management Supply Chain Management
Lean Management

Unit - III
Control
Process of Financial Control
Capital Budgeting
Developmental Aspects
Research, Training and Development in Enterprises
Personnel Management
Wage Policy and Wage Administration

Unit IV
Strategic Aspects
Marketing
Tendering and Contracting
Negotiation Skills and Strategies in Enterprises
Turnaround Strategies
Financial Aspects
Measures of Financial Health Financial Performance
Role of Financial Institutions
Books and References
1.
2.

Annual report of Department of Public Enterprises

IDBI Report

FOURTH TRIMESTER

Security Analysis and Portfolio Management (SAPM)

Paper Code : 401
Scheme of Evaluation

1.
2.

Objective of the Paper

Continuous evaluation in the form of assignments, surprise

30%
quizzes, and, Case presentations
End term
70%
Total Marks
100
The objective of the paper is to provide a good understanding of the field
of investments while stimulating interest in the subject. The
understanding can be quite valuable because each of us must make
various investment decisions during our lifetimes definitely as
individuals, and possibly in our chosen careers. The goal is to help the
participants to gain an appreciation of what is involved in (1)
understanding what the investment opportunities are, (2) making good
investment decisions, and (3) recognizing where investment problems
and controversies arise and knowing how to deal with them.

Contents
Unit I
Understanding Investments and Securities Markets
The Investment Decision Process
Investment vs. Speculation
The Indian Securities Market: Constituents, Regulations and Trading
Investment Alternatives: Marketable and Non-marketable Securities
Returns and Risks
Measurement of Risk and Return: Ex-post and Ex-ante
Risk and Return in a Portfolio Context : up to three Securities
Unit - II
Portfolio Theory
Introduction to Portfolio Theory
Diversification and Risk
Markowitz and Efficient Frontier
Asset Pricing Models
The Capital Asset Pricing Model (CAPM)
Security Market Line
Arbitrage Pricing Theory
Other Multifactor Models
Market Efficiency
Various Forms of Efficient Markets
Tests and Implications of Various Efficiency Levels

Unit III
Fundamental Analysis
Economic Analysis: Global and Domestic Economic Indicators, Business Cycles
Industry Analysis: Analysis of Industry and Sectors, Life Cycle and Competitive Analysis, Industry
Forecasts
Company Analysis: Analysis of Company Strategies, Interpretation of Financial Results, Earnings
and Profitability Estimation
Fixed Income Securities
Pricing and Valuation

 Interest rate risk and Bond Prices

Duration and Immunization
Bond Portfolio Management
Valuation of Equity
Discount Models (Dividend & Free Cash Flow)
Relative Valuation methods (PE, P/BV, MV/BV etc.)
Issues and Perspectives on Valuation

Unit IV
Technical Analysis
Conceptual Framework
Charting Techniques
Technical Indicators
Moving Averages and Stochastic Indicators
Portfolio Management
Specification of Investment Objectives
Portfolio Selection and Strategies
Portfolio Rebalancing
Application of Derivatives in Portfolio Management
Evaluation of Performance
Measures of Return
Risk Adjusted Measures of Performance
Market Timing
Other Issues in Performance Evaluation
Books and References
1.
2.
3.
4.
5.
6.
7.
8.

Jones, Charles P. Jones, Investment Management, 6th edition, John Wiley, New Delhi, 2002.
Reilly, Frank K., Keith C. Brown, Investment Analysis & Portfolio Management, 6th Edition,
South-Western College, USA, 2001.
Chandra, Prasanna, Investment Analysis and Portfolio Management, 2nd Edition, Tata McGraw
Hill, New Delhi, 2005.
Bodie, Zvi , Alex Kane and Alan J. Marcus, Investments 6th Edition, Tata McGraw Hill, 2006.
Gordon J. Alexander, F. Willian Sharpe and V. Jeffery Bally, Fundamentals of Investments, 5th
Edition, Prentice Hall, 2001.
Damodaran, Aswath, Valuation: Security Analysis for Investment and Corporate Finance, Latest
Edition, John wiley, New York, 1994.
Elton, Edwin J. and M.J.Gruber, Modern Portfolio Theory and Investment Analysis, 4th Edition,
John Wiley and Sons, 1991.
Francis, J.C., Investments : Analysis and Management, 5th Edition, Tata McGraw Hill, 1991.

Journals:
The Analyst
The ICFAI Reader
Portfolio Manager
Money & Finance
Journal of Portfolio Management

Production & Operations Management (P&OM)

Paper Code 402
Scheme of Evaluation

1.
2.

Objective of the Paper

Continuous evaluation in the form of assignments, surprise

30%
quizzes, and, Case presentations
End term
70%
Total Marks
100
The course is designed to acquaint the students with decision making in
planning, scheduling and control of production and operations functions
in both manufacturing and services; productivity improvement in
operations through layout engineering and quality management etc;
effective and efficient flow replenishment and control of material with
reference to both manufacturing and services organizations.

Unit- I
Introduction nature and scope of production and operations management historical evolution types of
manufacturing systems difference between manufacturing and service operations role of production
and operations manager.
Unit II
Production, Planning and Control (PC): Stages in PPC, PPC in mass batch and job order manufacturing
industry, aggregate planning, capacity planning and maintenance planning.
Unit III
Plant location facility location and layout planning types of layouts material handing equipments,
material handing principles, models used in lay out designs.
Unit IV
Productivity: factors affecting productivity, job design, process flow charts methods study, work
measurement engineering and behavioural approaches.
Unit - V
Material management: costs associated with inventory economic order quantity ABC analysis materials
requirement planning (MPP), just in time (JIT) production, total quality management (TQM),
acceptance sampling, control charts, quality circle zero defects programmes, ISO 9000, Application of
Computer in Production & Operations Management.
(Case studies)
Books and References
1.
2.
3.
4.
5.
6.
7.
8.
9.

Panner Selvem - Production and operations management, Prentice Hall of India

Upendra Kachru - Operations management - Excel Publications.
Martin K. Starr: Production & Operations management, Wilery India, New Delhi.
Chunnawals - Production & operations management, Himalaya Publications.
Kanishka bedi-Production & operations management, Oxford University Press.
Adam EE & EBERT RJ - Production and operations management, 6th ed., Prentice hall of India.
Chary, S.N. - Production & Operations management, New Delhi, Tata McGraw Hill
Manoj Kumar Sarkar - Production & Operations Management, Jaico Publisher.
P. Rama Murthy - Production and Operations Management, new age international.

Treasury and Risk Management (TRM)

Paper Code: 403
Scheme of Evaluation

1.
2.

Objective of the Paper

Continuous evaluation in the form of assignments, surprise

30%
quizzes, and, Case presentations
End term
70%
Total Marks
100
The objective of the paper is to make the participants understand the
various treasury functions and the associated aspects that contribute to
protecting or enhancing shareholder value, reducing risk or securing the
organizations cash flow. It also wishes to make the participant
understand the importance of appropriate treasury systems and controls.
In addition to it the course also wishes to make the participants aware of
the modern tools to manage risks with specific focus on derivates.

Contents
Unit I
Scope and Function of Treasury Management
Corporate Finance and its linkages with other Management Areas
Role of the Chief Financial Officer(CFO)
Treasury Department: Integration of Funds Management, Forex Management and Risk
Management
Financial Forecasting
Forecasting Techniques
Performa Financial Statements
Growth and External Funds Requirement
Short Term Financial Planning
Importance of Short-Term Financial Planning
Cash Budgeting & Cash Management Models (Baumol, Miller & Orr)
Forecasting and Solvency
Unit II
Banks and Banking Instruments
Forms of Bank Finance
Short Term Borrowing and Investing
Cash Concentration and Cash Disbursement Systems
Electronic payment and transfer systems (RTGS, CHIPS, SWIFT)
Money Market
Indian Money Market: Structure, Players and Regulations
Impact of Monetary Policy,
Use of Money Market Instruments (Call money, Treasury Bills, Repo, Commercial Paper, Certificate
of Deposit, Collateralized Debt Market Obligations (CLBO), Money Market Mutual Funds and Gilt
Funds) for Treasury Operations
Other Short Term and Long Term Sources of Finance
Treasury Management and Taxation
Corporate Tax and Treasury Management
Integrating Tax Planning and Treasury Management
Unit III
Corporate Governance and Treasury Controls
Treasury systems and procedures
Role of Technology in Treasury
Operational Risk and Control in Treasury Department
Information system and Reporting of Transactions

 Measuring Treasury Performance

Corporate Governance in Treasury Management
Introduction to Risk Management & Derivatives
Risk: Elements, Measurement and Sources
Types of Risk
Derivative Markets: Structure, Clearing, Trading and Settlement Procedures
Derivative Products: Forwards, Futures, Options and Swaps
Treasury & Risk management in Government
Unit IV
Forwards and Futures
Characteristics, Markets and Type
Pricing of Futures and Forwards
Aspects of Futures Contract: Margining, Mark to Market, Basis and Convergence
Using Futures & Forwards to Manage Risk
Futures Market in India: Recent Trends and Developments
Options
Options Markets: Trends and Regulations
Types of Options
Option Strategies and Payoffs
Option Pricing Models
Risk Management with Options
Swaps
Types of Swaps: Interest rate, Currency and Commodity Swaps
Applications and Quotations
Using Swaps to Manage Risk

Books and References:

1.
2.

Ross, D,, International Treasury Management3rd edition, Euromoney Publications, London, 1987.
Smithson, C.W., Managing Financial Risk: A Guide to Derivative Products 3rd edition, McGrawHill, New York, 1998.
3. Risk Books, Financial Risk and the Corporate Treasury : New Developments in Strategy and
Control Latest Edition, Risks Books, 1997.
4. Cuthbertson, K. And D. Nitzsche, Financial Engineering : Derivatives and Risk Management Latest
Edition, John Wiley, Chichester, 2001.
5. Shapiro, A.C., Multinational Financial Management, 8th Edition, John Wiley & Sons, London,
2006.
6. Saunders. A., Financial Institutions Management: A Modern Perspective 3rd Ediition, Irwin
McGraw-Hill, Boston, 2006.
7. Maness, Terry S. and John T. Zietlow, Short-Term Financial Management, 2nd Edition, Southwestern Thomson College Publishing 2002.
8. Higgins, David P, Essentials of Treasury Management, 2nd Edition, Association for Financial
Professionals, www.AFPonline.org, 2007.
9. Dhandapani, Alagiri, Treasury Management: Trends and Developments, Latest Edition, ICFAI
University Press, October 2008.
10. Hull, J., Options, Futures and Other Derivatives, 6th edition, Upper Saddle River, N. J., Prentice
Hall, 2006.
11. Chance, D., An Introduction to Derivatives, 5th Edition, Harcourt, 2001
12. Dubofsky, David A, Thomas Miller, Derivatives: Valuation and Risk Management, Latest Edition,
Oxford University Press, 2007.

International Financial Management

Paper Code: 404
Scheme of Evaluation

1.
2.

Objective of the Paper

Continuous evaluation in the form of assignments, surprise

30%
quizzes, and, Case presentations
End term
70%
Total Marks
100
To acquaint the participants with conceptual clarity in the area of
international financial management, and equip them with necessary
skills in the applied and functional areas of International Financial
Management.

Contents:
Unit I
Environment of International Financial Management
Introduction: Multinational Enterprise and Multinational Financial Management
The Determination of Exchange Rates and Central Bank Intervention
The International Monetary System and European Monetary System
Parity Conditions in International Finance and Currency Forecasting
The Balance of Payments and International Economic Linkages

Unit II
Foreign Exchange and Derivatives Markets and Foreign Exchange Risk Management
The Foreign Exchange Market
Currency Futures and Options Markets
Swap and Interest Rate Derivatives
Foreign Exchange Risk Management: Measuring and Managing Translation, Transaction and
Economic Exposure
Unit III
Financing the Multinational Corporation
International Financing and the Euromarkets
The Cost of Capital for Foreign Investments and Multinational Capital Structure
International Portfolio Investment
Corporate Strategy and Foreign Direct Investment

Unit IV
Foreign Investments Analysis and Multinational Working Capital Management
Capital Budgeting for the Multinational Corporation
Country Risk Analysis
Financing Foreign Trade
Current Asset Management and Short-Term Financing
Managing the Multinational Financial System

Recommended Readings:
1.
2.
3.
4.
5.
6.
7.

Jain P K, Peyrard Josette, and Yadav S S : International Financial Management: Macmillan India
Limited, New Delhi, 1999.
Jain P K, Peyrad Josette, and Yadav S S : Foreign Exchange Markets-Understanding Derivatives and
Other Instruments : Macmillan India Limited, New Delhi, 2001.
Rajwade A V : Foreign Exchange, International Finance and Risk Management : Academy of
Business Studies, New Delhi, 1998.
Adrain Buckley, Essence of International Money : Eastern Economy Edition, 2000.
Madhu Vij : Multinational Financial Management : Anmol Publications, New Delhi, 2000.
Vij, Madhu : International Finance : New Delhi : Excel Books, 1997 177p.
Buckley Adrian : Multinational Finance: 3rd Edition : New Delhi : Prentice Hall of India, 1996,
606p.

Projects and Infrastructure Management : Financing, Implementation and Control

(P&IM:FI&C)
Paper Code: 405
Scheme of Evaluation

1.
2.

Objective of the Paper

Continuous evaluation in the form of assignments, surprise

30%
quizzes, and, Case presentations
End term
70%
Total Marks
100
The participants are expected to develop competencies to manage all
aspects of a project with efficiency and proper coordination in
competitive and challenging environment. Specific areas of focus will
include (a) Understanding strategic implications in choosing projects (b)
Develop ability to identify investment opportunities (c) Formulating the
project after doing the necessary feasibility analysis (d) Find out the cash
flows of the project including the forecasting of the incremental cash
flows (e) Calculate an appropriate cost of capital keeping in mind the
risk nature of the project (f) Evaluate the investment decision using
appropriate evaluation techniques (g) Be able to incorporate risk
sensitivity in the project appraisal decision (h) Develop an
understanding of projects in the public domain with special reference to
social cost benefit analysis and public private partnerships.

Contents
Unit I
Introduction
Project: Definition, features, types
Infrastructure creation: Features, Significance, Bottlenecks
Resource Allocation Framework
Value chain analysis of the project
Project Costing & Appraisal
Breakdown structure of the project
Factors affecting the cost of the project
Life cycle costing and Activity Based Costing
Costing with alternative configuration/specifications
Appraisal: Marketing, Technical, Political, Financial, Social
Preparation of detailed project report
Unit II
Financial Analysis
Estimation of cost of project & Means of financing
Estimates of sales and production
Working capital requirement and financing
Projected cash flows of project
Basic principles of measurement of cash flows
Appraisal Criteria
NPV
BCR
PI
Payback and Discounted Payback
IRR & MIRR
Accounting rate of return
Investment appraisal

Cost of Capital
Types & Measure of risk
Sensitivity & Scenario Analysis
Special decision situations
Calculation of cost of Capital : CAPM, Inflation
Weighted cost of capital: Book Value & Market Proportions
Unit III
Social Cost Benefit Analysis
Rationale
UNIDO
Little and Mirlees Approach
Case Studies in the Indian scenario
Arrangement of Funds
Traditional sources of financing (Equity shares, preference shares, Debentures/bonds, loan from
financial institutions)
Alternative sources of financing (Foreign Issues, FDI & FII, ECB, Private Equity, Securitization,
Venture Capital etc.)
Public Private Partnerships: Forms, Guidelines, Problems, Issues
Unit IV
Project Implementation
Project contracts: Principles, Practical and Legal aspects
Tendering Process, Escrow
Other aspects: Insurance, Human Resource
Network analysis: CPM, PERT
Project Review and Control
Time and Cost control
Performance review
Project control system and MIS
Project Audit, Termination and Abandonment Analysis
Government Projects: Auditing and Control

Book and References:

1.

Chandra Prasanna : Projects Planning, Analysis, Financing, Implementation, and Review : 5th
Edition, Tata McGraw Hill, 2002
2. Choudhary S., Project Management, Mc-Grawhill, 2006
3. Desai, Vasant, Project Management, Himalaya Publishing House, 2006
4. Esty, Benjamin C., Modern Project Finnace : A Casebook, Wiley, 2003
5. Gopalkrishnan P. & V E Ramamoorthy, Textbook of Project Management, Macmillan, 1993
6. Harvey, Maylor, Project Management, Pitman Publishing, 1996
7. N. Janardhan Rao & Amit Singh Sisodiya, Public Private Partnership Model in India : Concepts,
Issues and Outlook, Icfai University Press, 2009
8. Nagarajan K, Project Management, New Age International (P) Ltd., 2007
9. Narendra Singh, Project Management & Control, 2nd Edition, Himalaya Publishing House,
2000
10. Patel, Bhavesh M., Project Management, Vikas Publishing, 2000
11. Yescombe, E.R., Public-Private Partnerships: Principles of Policy and Finance, Elsevier, 2007

Elective
Mergers and Acquisitions
Paper Code: 406
Scheme of Evaluation

1.
2.

Objective of the Paper

Continuous evaluation in the form of assignments, surprise

30%
quizzes, and, Case presentations
End term
70%
Total Marks
100
The purpose of this course is to sensitize the students about the need for
corporate restructuring for achieving fast growth and maximize
shareholders value in the context of ever increasing competition thrown
up by liberalization and globalization of Indian economy. It is expected
that after pursuing this course the students will be able to develop
competencies in identifying opportunities/areas for mergers, demergers,
amalgamations and takeovers etc., carrying out valuations involved
therein, building up strategies for them and evaluating the post
restructuring performance of the enterprise.

Contents
Unit - I
Introduction to Corporate Restructuring
Introduction, Scope & Types: Expansion, Downsizing and Restructuring
Objectives & Motivations of Mergers, Takeovers, Acquisitions & Demergers
Historic and Recent Trends including Cross Border acquisitions: (Global and Indian view)
Strategic alliances and Joint Ventures as alternatives to acquisitions
Strategy, Diversification, Types & Characteristics
Analytical framework for Generic & Corporate Strategies
Economic Rationales for major types of mergers
Managerial, Financial & Organizational Synergy
Due Diligence Process & Value chain analysis
Unit - II
Valuation- The Financial Methodology
Definition and Measurement of Cash Flows;
Valuation Models; Valuation of listed and unlisted companies, Modes of valuation
Fixing price for acquisition
Determination of share exchange ratio on merger, Share Swaps
Feasibility analysis for cash acquisition
Valuation practices in India
Sources of financing for Acquisitions
Unit - III
Restructuring Techniques and Procedures
Techniques of and Procedure for organizing takeover bids
Search for acquisition of Target Company
Procedure for Takeovers and Acquisitions (Public announcement, Offer Documents, Minority
shareholders, Bailouts, Merchant Bankers & Advisors including Financial Institutions & Banks)
Role and Responsibility of Advisors
Code of conduct, SEBI Takeover Regulations
Anti-trust regulation and Competition policy
Downsizing
Demergers & Reverse Mergers
Divestitures

Spin offs, Split-ups & Split offs

Equity carve out; Master Limited Partnerships
Leveraged buyout and Management buyout

Unit - IV
Financing, Defence and Bid Strategies of Mergers
Toehold, bid premium and bid outcome
Defensive & Ant-takeover strategies & Cost of Such strategies
Methods of financing and financing alternatives for defensive strategies
Accounting & Taxation
Accounting rules for business combinations
Accounting for goodwill
Tax aspects of M&A
Accounting and Tax implications: Indian scenario
Evaluating the success of acquisitions
Books and References:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.

Arzac R. Enrique, Valuation for Mergers, Buyout and Restructuring, John Wiley & Sons Inc., 2005
DePamphilis, Donald, Mergers, Acquisitions, and Other Restructuring Activities, 4th Edn.,
Academic Press Advanced Finance Series, Elsevier, 2008.
Gaughan A. Patrick, Mergers Acquisitions, and Corporate Restructurings, Wiley John & Sons, New
York, 1996.
Koller, Tim, Mark Goedhart and David Wessels, Valuation: Measuring and Managing the Value of
Companies, John Wiley & Sons, 2005
Krishnamurti Chandrashekar and Vishwanath R S., Mergers, Acquisitions and Corporate
Restructuring, Sage Publications, 2007.
Machiraju, H.R., Mergers Acquisitions and Takeovers, New Age International (P) Ltd., 2003
Pramanik Kumar Alok, Das Bhagaban(edited), Merger and Acquisition: Indian Scenario, Kanishka
Publishers, Distributors, July 2007.
Ramajunam, S., Mergers Et Al: Issues Implications & Case Laws in Corporate Restructuring, Lexis
Nexis Butterworths Wadhwa, Nagpur, 2007
Ramu, Shiva S., Corporate Growth through Mergers And Acquisitions, Sage Publications Pvt. Ltd,
1998.
Sudarsanam Sudi, Creating Value from Mergers and Acquisitions, Pearson 2003.
Titman, Sheridan, John D. Martin and V. Ravi Anshuman, Valuation: The Art and Science of
Corporate Investment Decisions, Pearson 2008
Vadapalli, Ravindher, Merger, Acquisitions and Business Valuation, Excel Books, 2007
Weston, J. Fred, Kwang S. Chung and Juan S. Siu, Takeovers, Restructuring, and Corporate
Governance, 3rd Edn, Prentice Hall Finance Series, Upper Saddle River, New Jersey, 1998
Weston, J. Fred, Mark, L. Mitchell and J. Harold Mulherin, Takeovers, Restructuring, and
Corporate Governance, 4th Edn, Prentice Hall Finance Series, New Jersey, 2003.

Elective
Microfinance and Insurance
Paper Code: 407
Scheme of Evaluation

Objective of the Paper

1.

Continuous evaluation in the form of assignments, surprise

quizzes, and, Case presentations
2. End term
Total Marks
The course is aimed at evolving clear understanding of role of
Microfinance and Insurance in addressing the problem of
poverty and income generating activities to the poor people.
The participants will be equipped with Microfinance concepts,
functions, products and strategies that will help in pertinent
policy making in their respective departments/organizations.
They will be equipped with the tools and techniques of
development analysis and planning of Developmental Financial
Resource Decisions. This subject is designed to give the
participants a hands-on opportunity to develop leadership
skills by tackling complex social issues from a policy
perspective. The participants would be sensitized to appreciate
the Microfinance Institutions (MFIs) and NGOs as partners in
socioeconomic development process of the poor. The course
will focus on microfinance as a vehicle for reducing poverty.
Participants who complete this course will also have analyzed
the various reasons for the existence of MFIs, and the
challenges MFI managers face.

30%
70%
100

The subject format provides participants to spend time in

studying an issue in the classroom , followed by experiential
project-based testing through field survey visits.
Contents
Unit - I
Poverty
Sources and Consequences of Poverty, Informal Sector. The Nature of the Market Failure - Credit
provision to the poor, collateral, borrowing, repayment, social collateral, peer networks Overview of
Microfinance: Indian Rural financial system, introduction to Microfinance, Microfinance concepts,
products, (savings, credit, insurance, pension, equity, leasing, hire-purchase service, Microfinance in
kind, Micro-remittances, Micro-Securitization, franchising etc.), Microfinance models
( Generic
models viz. SHG, Grameen, and Co-operative, variants SHG NABARD model, SIDBI model, SGSY
model, Grameen Bangladesh model, NMDFC model, credit unions etc. unbranded primitive models)
Emerging practices of Microfinance in India state wise cases, Emerging Global Microfinance practices.
Need of Microfinance.
Microfinance, Development, Income generating activities and Micro Enterprise
Market (demand) analysis, financial analysis including sources. Technological analysis, Socio-economic
analysis, Environmental analysis. Logical framework, Implementation & Monitoring
Credit Delivery Methodology : Credit Lending Models
Associations; Bank Guarantees Community Banking, Cooperatives, Credit Unions, Grameen Model,
SHG, Individual, Intermediaries, Could be individual lenders, NGOs, micro credit programmes, and
Commercial banks)

Unit - II
Catalyst Role of NGOs
Educating and formation of SHGs, Linkages
with Banks & Markets, Liaisoning with Govt. Dept.
Capacity building of SHGs members about value additions, record keeping etc.
Pricing of Microfinance Products
Purpose base, Activity base, Economic class base Open biding, etc. Pricing saving products, Amount of
savings base, Attendance at periodical meeting Adding to corpus.
Gender issues in Microfinance and Conflict resolution in Microfinance -Client impact studies measuring
impact of Microfinance and Micro enterprises
Unit - III
Commercial Microfinance
MFIs: Evaluating MFIs- Social and performance metrics, fund structure, value-added services The Rise
of Commercial Microfinance-: Transforming NGOs. Structure of Microfinance Industry and Constraints
on MFI Growth. The partnership model MFI as the servicer
Investing in Microfinance
Sources of capital, profit vs. non-profit investing-Accessing Capital Markets for funds
Managing MFIs
Management talent, corporate governance, ownership
Viability of MFIs
Subsidy dependence and sustainability of MFIs-Role of effective interest rates on viability-Operating
Self-sufficiency- Financial Self-sufficiency
Credit Rating of MFIs
Need and basic criteria/indicators for rating MFIs-Credit rating agencies in India and abroad-CAMEL
ACCION rating tools : An introduction
Monitoring parameters including risk monitoring and Delinquency Management
Follow-up methods- Recovery of loan-Provisions for Loan-loss reserve
Risk Management
Asset Liability Management- operating risk management - Portfolio management, Public Policy and
MFIs: Banking regulation, multilateral institutions
Unit - IV
Strategic Issues in Microfinance: Sustainability, Going to Scale and Managing the Last 100 Meters,
Opening New Markets, Gender, Finance Plus, Housing Finance
Microinsurance: products, eligibility, insurance premium and claim administration systems, regulatory
guidelines, relevant cases
Field visits and surveys

Books and References:

1.
2.
3.
4.
5.

Beatriz Armendariz and Jonathan Morduch, The Economics of Microfinance, Prentice-Hall of

India Pvt. Ltd. Delhi, 2005.
Joanna Ledgerwood, Microfinance Handbook : an institutional and financial perspective, The
World Bank, Washington, D.C.
Malcolm Harper, Practical Microfinance A training Guide for South Asia, Vistaar Publication,
New Delhi.2003.
C.K. Prahalad, "The Market at the Bottom of the Pyramid," 2006, The Fortune at the Bottom of the
Pyramid, Wharton School Publishing
Jorritt De Jong, et al Edited Microfinance in Access to Government Cambridge, 2008

The websites
http://www.microfinancegateway.org/Microfinance Gateway contains research and publications, news,
events and job listings for the microfinance industry.
http://www.mixmarket.org/MIX Market provides financial information on microfinance institutions.
http://www.kiva.org/about/microfinance,What is Microfinance? includes FAQs about microfinance,
lists of websites, organizations and books.
http://www.devdir-microfinance.org/Directory of Development Organizations for microfinance.
http://www.yearofmicrocredit.org/International Year of Microcredit 2005 describes the UN program of
2005.
http://aede.osu.edu/programs/RuralFinance/Rural Finance Program - The Ohio State University includes
publications and links.
http://www.uncdf.org/english/index.phpUnited Nations Capital Development Fund is the Microfinance
arm of the UN.
http://www.accion.org/Page.aspx?pid=191Accion International
http://bouldermicrofinance.org/The Boulder Institute of Microfinance
http://www.sksindia.com/SKS Microfinance
http://www.cgap.org/p/site/cCGAP is a consortium of microfinance investors, home of many articles on
emerging trends within microfinance.
Journals
1.
2.
3.
4.
5.

International Public Management Journal

Journal of Economic Perspective,
The Economic Journal
Economic and Political Weekly
Kurukshetra

FIFTH TRIMESTER

Strategic Management (SM)

Paper Code: 501
Scheme of Evaluation

1.
2.

Objective of the Paper

Continuous evaluation in the form of assignments, surprise 30%

quizzes, and, Case presentations
End term
70%
Total Marks
100
to understand the process of Strategic Management;
to be able to understand and evaluate the environment in which a
business organization/form operates (internal & external);
to be able to evaluate a companys resources & competitive
capabilities;
to be able to learn how to formulate and implement strategies;
to be able to review and evaluate the strategies implemented in a
firm; and
(an implicit objective is to help participants to understand the case
method of learning).

Unit - I
The Strategic Management Process
Meaning and Nature of Strategic Management, Its importance and relevance
Characteristics of Strategic Management
The Strategic Management Process
Relationship between a Company Strategy and its Business Model.
The Strategic Process
Strategy formulation: Developing Strategic vision and Mission for a company
Setting Objectives: Strategic Objectives and Financial Objectives
Balanced score card, Company Goals and Company Philosophy
The hierarchy of Strategic Intent: Merging the Strategic Vision Objectives and Strategy into a
Strategic Plan.
Unit - II
Industry and Competitive Analysis
Analyzing a companys External Environment The Strategically relevant components of a
companys external environment
The Methods of Industry and Competitive Analysis
Porters dominant economic features: Competitive Environment Analysis & Porters five force
model
Industry driving forces key success factors, concept and implementation.
Evaluating Company Resources & Competitive Capabilities
Analyzing a companys resources and competitive position
Analysis of the companys present strategies
SWOT Analysis, Value chain Analysis & Bench marking.
Strategy & Competitive Analysis
Generic Competitive Strategies: Low cost, Differentiation, Best cost ,
Focused Strategies
Strategic alliances, Collaborative partnerships , Mergers
and acquisition,
Joint Ventures Strategies, Outsourcing Strategies, International Business level strategies.
Unit III
Matching Strategy to Companys Situation
Formulating long term and Grand Strategies
Tailoring Strategy to fit specific Industry and company situation

Long term objectives for Grand Strategies- Innovation, Integration and diversification:
Conglomerate Diversification, Retrenchment, Restructuring and turnaround
GE nine cell planning grid and BCG Matrix.
Implementing Strategy
Strategy Implementation: Operationalizing strategy, Annual Objectives
Developing Functional strategies, Developing and communicating concise
policies.
Institutionalizing the strategy: Structure, Leadership and Culture.
Ethical Process and corporate social responsibility.
Unit IV
Strategic Review and Audit
Strategic control guiding and evaluating strategies
Establishing Strategic controls, Operational Control Systems
Monitoring performance and evaluating deviations
Challenges of strategy Implementation.
Cases in Strategic Management
Strategy in single Business Companies
Strategy in Diversified Companies
Mergers & Acquisitions as Business Strategy
Implementing and Executing Strategy
Books and References:
1.
2.
3.
4.
5.
6.

Roy Dilip, Strategic Management, Gyan Publishing House, New Delhi, 1997.
Cherunilam Francis, Strategic Management, Himalaya Publishing House, Mumbai.
hompson Arthur & Jr. A.J. Strickland III, Strategic Management Concepts and Cases 10th Edn.,
Irwin McGraw-Hill, 1998.
Prasad R, Strategic Management Concepts and Cases Published by ICFAI, Nagarjuna Hill,
Hyderabad, India, 1st Edn., 2003.
L Thompson John, Strategic Management Awareness and Change, 3rd Edn., 1997.
R. David Fred, Concepts of Strategic Management, 6th Edn., United States of America 1997.

Financial Services (FS)

Paper Code: 502
Scheme of Evaluation

1.
2.

Objective of the Paper

Continuous evaluation in the form of assignments, surprise 30%

quizzes, and, Case presentations
End term
70%
Total Marks
50
To enable participants understand intricacies of financial services in
order to equip them with working knowledge applicable to the
industry.

Contents
Unit - I
Service Sector in India: overview of Financial Services in India-Nature Scope and Types of Financial
Services: fund based and non-fund based financial services.
Venture capital: concept and types, regulatory framework How Venture Capitalists Evaluate Potential
Venture Opportunities-- Managing Risk and Reward in the Entrepreneurial Venture- New Venture
Financing -Risk & Return in venture capital: Theory
Unit - II
Merchant Banking Issue: Management, SEBI Guidelines, Institutional & Operational Framework,
Regulation of Merchant Banking Activities, Obligations of Merchant Bankers.
Factoring: concept, types, delivery network, comparison and contrast with other similar services,
Financial and Service charges, Growth and Trend of factoring service in India, Case of SBI factors.
Forfeiting: concepts and delivery network, forfeiting and risk management, forfeiting and export
finance, forfeiting in India.
Unit III
NBFC: introduction, RBI act framework-asset-liability management system
Housing Finance: introductions, housing finance system, Mortgage-based securitization, Guidelines for
extending equity support to housing finance companies.
Loan Syndication and Loan Consortium: Domestic and External
Investment banking: difference between investment bank and traditional banks, structure of an
investment bank- Functions investment banks - types of groups within the investment banking
division- hierarchy within the investment bank do?
Unit IV
Lease and Hire purchase: Meaning and Types of leasing Legislative-frameworks Matters on
Depreciation and Tax Problems on leasing Hire Purchasing- Concepts and features Tax and
Depreciation implications Problems on Hire Purchasing.
Credit rating and Securitization : Definition and meaning- Process of-credit rating of financial
instruments- Rating methodology-Rating agencies Rating symbols of different companies
Securitization of debt- Meaning-Features- Special Purpose Vehicle- Pass Through Certificate &
mechanism Benefits of Securitization Issues in Securitization
Stock Broking: introduction, bodies Regulating Stock Broking Firms-Functions of Stock Broking Firms
Mutual fund: Types Mutual Funds Advantages of mutual funds - Exchange Traded Funds Hedge
funds- Regulations on mutual funds

Books and References:

1.
2.
3.
4.

Khan, M. Y. Financial Services, New Delhi: Tata McGraw-Hill, 4th edition 2008.
V.K. Bhalla, Management of Financial Services, New Delhi, Anmol Publication, 2nd edition 2005
Payne, Adrian. The Essence of Services Marketing,. New Delhi: Prentice Hall of India, 1993
Verma, J.C. Bharats Manual of Merchant Banking: Concepts, Practices and Procedures. 4th ed.
New Delhi: Bharat Law House. 1996. 1568p.

Corporate Governance and Business Ethics (CG&BE)

Paper Code: 503
Scheme of Evaluation

Objective of the Paper

1.

Continuous evaluation in the form of assignments, surprise 30%

quizzes, and, Case presentations
2. End term
70%
Total Marks
50
:
Corporate Governance deals with the system in which a company is
governed, by acts and traditions affecting the performance of a
company. It consists of acts governing the formation of corporations;
the bylaws evolved and adopted by the corporation. The system
exhibits the, structure, procedures, acts and rules for decision making
on firms affairs. it also provides guidance to how to set company
objectives and ways and means of achieving the objectives and
controlling the performance towards attaining the objectives. After
completing the course the participant is expected to have in-depth
understanding of corporate governance concept, principles, and its
application for the better performance of the company; fully aware of
works of various committees and authorities for best corporate
governance practices; and acquaint with Bhutans corporate
environment, business laws, statutory instruments and guidelines.

Contents
Unit - I
Market Economy and Corporate Form of Organization
Economic Liberty.
Benefits of Free Trade and Private Enterprise.
Results of Economic and financial Boom of 1990s.
Business Corporation an Integral Part of Capitalism.
Company Form of Organization Conductive to Efficiency.
Managerial Capitalism. Market Globalization.
The Companies act of the Kingdom of Bhutan
Unit - II
Nature and Systems of Corporate Governance
Definition and Scope, Benefits of Corporate Governance.
Theoretical models of Corporate Governance
Corporate Governance and Economic Performance
OECD Principles.
Development of Corporate Governance Laws and Emerging Global Corporate Governance Practices
Reforms in USA
Reforms in U.K. Cadbury Committee (1991)
Combined Code and Turnbull Guidance (1999)
Committee on Corporate Governance (1999)
Committee on Auditors Role in Corporate Governance (2003)
Recommendation of Corporate Governance Committee on Corporate Audit and Governance (2003)
GREEN Committee 1995 UK
KINGs Committee 1998 South Africa
HIGGS Committee Report
TYSON committee Report
Unit III
London Stock exchange Common Code Guidelines
Birla Report-1999
Audit Committee-2000 (India)- Vijay Kelkar and Narayan Murthy

 Committee recommendation
Comparative Case studies on Bhutanese corporate practices
Clause 49 of Listing Agreement
Corporate frauds
Enron
Satyam
Governing Instruments
Determinants of board effectiveness
Evaluating Board performance
Ethics and Board Governance
Audit Committee: Role of Audit Committee.
Accounting Standards and Financial Reporting.
Review of Information of Audit Committee.
Corporate Social Responsibility (CSR)
Unit IV
Relevant Acts and Guidelines (Bhutan)
Labour Act
Taxation Act
Audit Act
Environment Act
Anticorruption Act
Guidelines for Boards of Government Corporations and for Government (MOF)
Negotiable instrument Act
Financial Institutional Act (prudential regulation act, RMA)
Stock exchange regulation and listing mechanism (Bhutan)
Books and Reference
1.
2.
3.
4.
5.
6.

Corporate Governance Putting Investors First, Scott C. Newquist, Max B. Russell. Jaico Publishing
House, Delhi.
Corporate Governance, H.R. Machiraju Himalaya Publishing Houses, Delhi, India. (CG-HRM)
Corporate Governance, Responsibilities, Risks and Remuneration, Kevin Keasey and Mike Wright,
John Wiley & Sons, Singapore.
Corporate Governance in Global Capital Markets, Edt. By Jains Sarra, UBC press. Vancouver.
Corporate Governance, Robert A G moks & Nell Minow, Blackwell Business 2003
Corporate Governance in Global Capital Markets, Edt. By Jains Sarra, UBC press. Vancouver.

Websites
1.
2.
3.
4.
5.

Corporate Governance Network, http://corpgov.net

The corporate library, http:// www.thecorporatelibarary.com/
Corporate Board member Magazine, http://www.boardmemeber.com
Global Corporate Governance forum http://www.gcgf.org
An encyclopedia about corporate gov. http://www.encycogov.com

Articles
1.
2.

Chartered Secretary Journal, New Delhi, India

Journal of Business Ethics, Springler Publication

Elective
Information Technology (IT) Security
Paper Code: 504
Scheme of Evaluation

1.
2.

Objective of the Paper

Continuous evaluation in the form of assignments, surprise

30%
quizzes, and, Case presentations
End term
70%
Total Marks
100
This paper addresses the urgent need to secure our system and gain an
insight into the minds of the cyber criminals. It will empower the
learner to safeguard his/her systems, information and networks.

Contents
1.

2.

3.
4.

5.

6.

7.

Unit I
Introduction to Information Security: Introduction, need, Security Attacks (Active, Passive),
Interruption, Interception, Modification, Fabrication, Active Attach (Masquerade, Replay,
Modification of Messages contents, Denial-of-service (DoS) etc.), Passive Attach (Release of Message
contents, Traffic Analysis etc.) Security Models (Bell-La Padula Confidentiality Model, Biba
Integrity Model, Clark Wilson Security Model), Intruders Types (Clandestine user, Misfeasor,
Masquerader), Local Security vs Domain Security.
Organizational Policy & Security: Security Policies, Standards and Guidelines, Information Policy,
Physical Security, Social Engineering, Security Procedures, Network Security Planning, Disaster
Recovery (Policies and Procedures), Protecting Storage Media, Security in Software Applications,
Operating Systems.
Unit - II
Systems Security: Operating System vulnerabilities and threats, Viruses, Worms & Trojans,
Firewalls, DMZ, hardening of Operating System, Anti Spy Wares.
Network & Internet Security: Network and Internet Vulnerabilities, The Internet Society, ICANN
(Internet Corporation for Assigned Names and Numbers) Spyware/Malicious Software, Network
Scanners, Simple Network Management Protocol (SNMPv2), E-mails Security (PGP,
Secure/Multipurpose Internet Mail Extension), IP Security, Port Scanning, Web Security (SSL,
Transport Layer Security, Secure Electronic Transaction, IP sec
Unit III
Cryptography & Public Key Infrastructure: Introduction to cryptography, Conventional vs Modern
Encryption Methods, Hashing, Cryptographic Algorithms-Symmetric Algorithms/Public Key
Cryptography, Asymmetric Algorithms/Public Private Key pairs, Digital Certificate, Types of
Certificate, Public Key Substitution Risk, Public Key Infrastructure (PKI), Third Party AssuranceCertificate Authority.
Security & Legal Policies: Regulations in India, Information Technology Act-2000, Offences &
Penalties under the Information Technology Act.
Unit IV
Security Tools: Wireshark (Ethreal), aport, ipscan (Angry IP Scanner), Castalia Socket Tester
(Socket is combination of IP & Port), PC Scanner, Retina, Dnstuff, Samspade (Spam Checker),
Tenable Nessus (Network Vulnerability Scanner).

Books and References

1.
2.
3.
4.
5.
6.
7.
8.
9.

Network Security Essentials by William Stallings, Pearson Education

Network Security by Ankit Fadia, Macmillan India Ltd.
Information Security by Rajat Khare, BPB Publications
Internet Security Guidebook, Juanita Ellis & Timothy Speed, Academic Press
Computer Security, First Edition, 1999, by Gollmann, Dieter Wiley & Sons Ltd.
Handbook of Information Security Management, by Micki Krause, Harold F. Tipton, Auerbach
Publications.
Computer Security Basics by Debby Russell, T. Gangemi, Sr., OReilly Publications.
Web Security, Privacy Commerce, by Simson Garfield, OReilly Publications
Computer Crime and Computer Forensics by Dr. R. K. Tiwari, P. K. Sastri, K. V. Ravikumar, Select
Publishers.

Recommended Websites
1. www.mit.gov.in
2. www.securityfocus.com
3. www.cerias.purdue.edu
4. www.ietf.org
5. www.w3c.org
6. www.sans.org

Elective
E-Commerce
Paper Code: 505
Scheme of Evaluation

1.
2.

Objective of the Paper

Continuous evaluation in the form of assignments, surprise

30%
quizzes, and, Case presentations
End term
70%
Total Marks
100
To acquaint the participants with the basic knowledge of Electronic
Commerce, role of independent third parties, Regulatory Environment,
EDI, Electronic Commerce and the Internet, Internet Security
Standards, Electronic Commerce Payment Mechanism and ECommerce Applications.

Contents
1.

2.

3.

4.

5.

6.
7.

8.

Unit I
Introduction to Electronic Commerce: Definition of Electronic Commerce, Potential benefits of
Electronic Commerce, The Internet and WWW as enablers of Electronic Commerce, Impact of
Electronic Commerce on Business Models, Variance of E-Commerce.
Electronic Commerce and role of independent third parties: Introduction, Electronic Commerce
Integrity and Security Assurance, Electronic Commerce systems reliability assurance, Risk
Assessment Assurance, Third party assurance of web based electronic commerce (Trustee, Verisign,
CA), Implications for accounting professional.
EDI, Electronic Commerce and the Internet (Introduction of EDI Systems, Data Transfer and
standards, Financial EDI, EDI Systems and Internet).
Unit II
Regulatory Environment: Introduction, Cryptography issues, Privacy issues, Domain name issues,
International Tax issues, Electronic agreements and digital signatures, IT Act 2000, Implications for
Finance Profession.
Internet Security Standards & PKI Standard Setting issues and Committees, Security Committees
and Organizations, Security Protocols and languages, Messaging Protocols, Cryptography and
authentication Messaging security issues; Encryption techniques; Key management, Digital
Signatures and Digital Certificates.
Unit III
Electronic Commerce Payment Mechanism The SET Protocol, The payment gateways, Certificate
Issuances, Certificate Authorities and Hierarchy.
E-Commerce Applications e-Procurement, e-Governance, Web based marketing, Advertisements
on the net, Intelligent Messaging System, Developing Databases on the Web.
Unit IV
Language on the Web
HTML, Case Study using Front Page, Wondercrypt.

Books & References

1.
2.
3.
4.
5.

Greenstein M. and Feinman M Todd (2000) Electronic Commerce: Security, Risk Management
and Control, Irwin McGraw-Hill, New Delhi.
Janardhan N. (1997), Electronic Commerce Speed and certainty in order fulfillment, Indian
Institute of Foreign Trade, New Delhi.
Johnson, Marc. (1998) Winning Long-term Consumer Attention, Online Advertising.
Kalakota, R and Winston, AB, 1996, Frontiers of Electronic Commerce, Addision-Wesley
Publishing Company Inc, reading, USA.
Mansell, R, 1996, Designing Electronic Commerce, in R Mansell and R Silverstone (ed.),
communication by Design: The Politics of Information and Communication Technologies,
Oxford University Press, Oxford.

SIXTH TRIMESTER
Project Work