COMMERCE HONS.

/RESEARCH FYUGP RANCHI UNIVERSITY

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SEMESTER V
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I. MAJOR COURSE- MJ 9:
COST ACCOUNTING

Marks: 25 (5 Attd. + 20 SIE: 1Hr) + 75 (ESE: 3Hrs) = 100 Pass Marks: Th (SIE + ESE) = 40

(Credits: Theory-04) Theory: 60 Lectures

Course Objectives:
The course aims to develop understanding among learners about contemporary cost concept and rational approach towards
cost systems and cost ascertainment. The course also aims to provide knowledge about various methods of cost
determination under specific situations and to acquire the ability to use information determined through cost accounting
for decision making purpose.
Course Learning Outcomes:
1. After completion of the course, learners will be able to:
2. Determine various types of cost of production;
3. Compute unit cost and total cost of production and prepare cost statement;
4. Compute employee cost, employee productivity, and employee turnover;
5. Determine cost under job costing, batch costing, process costing,
6. contract costing and service costing;
7. Apply activity-based costing for cost determination.

Course Content:

UNIT- I: Concept and Nature of Cost Accounting

1. Concept of cost and costing, Importance and features of costing, Cost classification, Concept of cost
unit, cost center, meaning of ‘unit’ from the view point of producer, Establishment of an ideal cost
accounting system, Cost Reduction, Cost Control.
2. Installation of Costing System, Application of IT in Cost Accounting.
3. Preparation of Cost Sheet for manufacturing and service sector.
4. Material Cost - Direct and indirect material, Valuation of materials, Principles of valuation of material
as per AS2/ Ind AS- 2; CAS- VI, Material control, purchases, Objectives and functions of purchase
department, Inventory control: Meaning and techniques including latest techniques like Just in Time
(JIT) Inventory Management, Kanban, Kaizen, Determination of Economic Order Quantity (EOQ).
5. Treatment of waste, scrap, spoilage, defective and obsolesce.

UNIT-II: Employee Cost and Overheads

1. Meaning and classification of employee cost, Requisite of a good wage and incentive system, Time and
piece rate plans, Profit sharing, Employee productivity and cost. Labor cost control – techniques,
Employee turnover, Remuneration and Incentive schemes (Rowan & Halsey Plan only).
2. Definition and classification, Production overheads – allocation and apportionment of cost, Meaning
and Methods of cost absorption, Treatment of over- absorption& under absorption of overheads,
Administration and selling & distribution overheads – methods of ascertainment, Treatment of Research
& Development cost in Cost Accounting.
UNIT-III: Methods of Costing: Job Costing, Batch Costing and Process Costing
1. Meaning of Job Cost, its application and accounting, Preparation of Job cost sheet.
2. Meaning of Batch Cost and its application in today’s industry.
3. Meaning and application of process costing, Methods of determination of cost in process costing,
Normal and abnormal loss and gain, inter process costing and profit ascertainment.
4. Choice between process and job costing.

UNIT-IV: Methods of Costing: Contract Costing and Service Costing

1. Meaning, features and types of contracts, Methods of cost determination in contract costing, Escalation
clause and cost-plus contract.

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2. Meaning and scope of service costing, Factors in ascertaining service cost, Ascertainment of service
cost of following services:
3. i. Transport ii. Hospital iii. Canteen iv. Toll v. Education institution vi. IT industry vii. Hotel
4. Any other contemporary service industry.

UNIT-V: Activity Based Costing (ABC)

1. Concept, significance, and salient features; Stages and flow of costs in ABC; Basic components of ABC
- resource drivers and cost drivers; Application of ABC in a manufacturing organisation and service
industry.
Practical Exercises: The learners are required to:
1. Prepare a cost statement for manufacturing and/ or service organisation.
2. Identify the items to be included and excluded in the cost system.
3. Apply different price determination methods to assess sales price.
4. Prepare a cost statement for different processes.
5. Suggest ideal cost system.
6. Calculate impact of material consumption, usage and wastages on total material cost.
7. Prepare of different format of acquisition of material and storage.
8. Determine total labour cost.
9. Suggest suitable cost system for different types of services organisation.
10. Analyse Research& Development cost in pharmaceutical &similar industry.
11. Visit industries to understand process costing, ABC concept.

Reference Books:
1. Banarjee, B. (2014). Cost Accounting – Theory and Practice. New Delhi: PHI Learning Pvt. Ltd.
2. Kishor, R. M. (2019). Taxman’s Cost Accounting. New Delhi: Taxmann Publication Pvt. Ltd.
3. Lal, J., & Srivastava, S. (2013). Cost Accounting. New Delhi: McGraw Hill Publishing Co.
4. Mowen, M. M., & Hansen, D. R. (2005). Cost Management. Stanford: Thomson.
5. J Sonar, K A N Shah-deo & M. Kumar, Agra (U.P.), Shiksha Sagar Publisher and Distributors.

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II. MAJOR COURSE- MJ 10:

HUMAN RESOURCE MANAGEMENT

Marks: 25 (5 Attd. + 20 SIE: 1Hr) + 75 (ESE: 3Hrs) = 100 Pass Marks: Th (SIE + ESE) = 40

(Credits: Theory-04) Theory: 60 Lectures

Course Objective:
The course aims to acquaint the learners with the techniques and principles to manage human resources of an organisation
for better performance and workplace environment

Course Learning Outcomes:

After the completion of the course, the learners will be able to:
1. demonstrate necessary skills to design an HR policy that improves the work environment.
2. analyse job requirements and prepare a Human Resource Plan;
3. match the skills with the job requirement and preparation of report on job analysis;
4. organize an onboarding programme in an organisation;
5. describe and apply the use of different kinds of training and development strategies in real life situations;
6. organize counselling sessions for employees for better psychological health;
7. create incentive schemes for diverse job roles to enhance satisfaction and improve retention of employees;
8. design HR policies for employee engagement and experience; grievance redressal,
9. employee health, safety, welfare, and social security, for employees to attain stress-free work life balance.

Course Content:

Unit 1: Introduction to Human Resource Management

Concept and functions; Role, status, and competencies of HR manager; HR policies; Evolution of HRM;
Emerging challenges of HRM- Workplace diversity, empowerment, downsizing, VRS, work life balance.

Unit 2: Procurement of Human Resource

Human resource planning- Quantitative and qualitative dimensions; Job analysis – Job description and job
specification; Recruitment – concept and sources; Selection – concept and process; Test and interview;
Placement, induction and socialization; Retention of employees.

Unit 3: Upgrading Employees: Training and Development

A. Concept and significance; Role specific and competency-based training; Training and development methods
– Apprenticeship, understudy, job rotation, vestibule training, case study, role playing, hands on, shadowing, e-
learning, sensitivity training, In-basket, management games, conferences and seminars, coaching and
mentoring, management development programs; Training process outsourcing.
B. Scope of training; On board, soft skills, technical skills, product & service, quality, antiharassment, legal.
Unit 4: Performance Appraisal and Compensation Management
Performance appraisal- Nature, objectives and process; Performance management; Methods of performance
appraisal; Potential appraisal; Employee counselling; Job Transfer and promotion. Compensation - Concept and
policies, Base and supplementary compensation; Individual, group and organisation incentive plans; Fringe
benefits; Performance linked compensation; Employee stock option; Pay band compensation system; Job
evaluation.

Unit 5: Employee Maintenance, Engagement and Emerging Horizons

Employee health and safety; Employee welfare; Social security (excluding legal provisions); Employer-
employee relations; Grievance handling and redressal; Industrial disputes: Causes and settlement machinery,
Stress-free environment, Rejuvenation breaks and leisure activities. Emerging Horizons; Redundant manpower,
e-HRM; Human Resource Information System (HRIS); HR Audit, Emerging job opportunities, Talent
management, Employee burnout, Work life balance, Work from Home.

Reference Books:
1. Amar kumar Chaudhary & Rakhi Gupta, Human Resource Management, Agra (U.P.), Shiksha Sagar Publisher
and Distributors.
2. Aswathappa, K. & Dash, S. (2021). Human Resource Management-Text and cases, B Ninth Edition, Tata
McGraw-Hill.

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3. Chhabra, T. N. & Chhabra, M. (2020). Human Resource Management. Delhi: Sun India Publications.
4. Decenzo, D.A., & Robbins, S. P. (2009). Fundamental of Human Resource Management. New Jersey; Wiley.
5. Dessler G. & Varrkey B. (2020). Human Resource Management, Sixteenth Edition Pearson Paperback.
6. French, W. L. (2006). Human Resource Management. Boston: Houghton Mifflin.
7. Gupta, C. B. (2018). Human Resource Management. Delhi: Sultan Chand & Sons.
8. Pattanayak, B. Human Resource Management, 6th ed. PHI learning
9. Prasad, L.M. (2018). Human Resource Management, Delhi: Sultan Chand & Sons
10. Rao, V. S. P. (2020). Human Resource Management. Delhi: Second edition, Taxmann's.
11. Sengupta, A. (2018), Human Resource Management, Sage Textbook
Note: Learners are advised to use the latest edition of readings.
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III. MAJOR COURSE- MJ 11:

GOODS AND SERVICES TAX -LAW AND PRACTICES

Marks: 25 (5 Attd. + 20 SIE: 1Hr) + 75 (ESE: 3Hrs) = 100 Pass Marks: Th (SIE + ESE) = 40

(Credits: Theory-04) Theory: 60 Lectures

Course Objectives:
The course aims to provide understanding about salient features of GST law and implications of its various
provisions for different classes of suppliers. It also aims to provide an understanding of compliances and
procedures laid down in GST law.

Course Learning Outcomes:

After the completion of the course, the learners will be able to:
1 Explain concept, need, and utility of indirect taxes;
2 Understand and analyse the taxable event, i.e., supply under GST;
3 Describe the provisions relating to levy of GST;
4 Identify exemptions for different types of goods and services;
5 Examine implications of input tax credit;
6 Explain the various procedures under GST;
7 Analyse provisions regarding penalties and interest; 8. Prepare and file GST return online.

Course Content:

UNIT- I: Introduction
1 Concept and features of Indirect Taxes, Difference between Direct and Indirect Taxes, Concept of GST,
Relevant Definitions under GST law, Constitutional aspects of GST
2 GST Council: Constitution, Structure, and functioning.

UNIT-II: Concept of Supply under GST law and Levy on GST

1 Concept of supply including composite and mixed supply, Place, Time, and Value of taxable supply,
Significance of consideration.
2 Basis of Charge of GST, Inter-State Supply, Intra-State supply, GST rates notified for supply of various
goods and services, Reverse charge mechanism, Composition levy
3 Exemptions from GST, Power to grant exemptions, Exempted goods under exemption notifications,
Exempted services under exemption notifications.

UNIT-III: Input Tax Credit under GST law

1 Meaning, Eligibility and Conditions for taking Input Tax Credit, Apportionment of credit and blocked
credits, Availability of credit in special circumstances, Taking Input Tax credit in respect of inputs and
capital goods sent for job work.
2 Manner of distribution of credit by Input Service Distributor, Manner of recovery of credit distributed
in excess.

UNIT-IV: Registration under GST law

1 Threshold Limits for Registration, Persons liable for Registration, Persons not liable for Registration,
Compulsory Registration in Certain Cases, Procedure for Registration, Deemed Registration, Special
Provisions relating to Casual Taxable Persons and Non-resident Taxable persons, Amendment of
registration, Cancellation of Registration, Revocation of Cancellation of Registration.

UNIT-V: Other Procedures under GST

1. Tax invoice credit and debit notes, Different GST returns, electronic liability Ledger, Electronic credit
Ledger, Electronic cash ledger, Different assessments under GST, Interest applicable under GST
(Period), Penalty under GST.
2. Various provisions regarding e-way bill in GST, Mechanism of tax deducted at source (TDS) and tax
collected at source (TCS)
3. Audit under GST

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Practical Exercise: Learners are required to:

1. Fill up online application for registration under GST for hypothetical firm.
2. Fill up online various forms of GST Returns for hypothetical firm.
3. Prepare e-Way bill for hypothetical firm.
4. Practical problems on computation of input tax under reverse charge for hypothetical firm.
5. Practical problems on computation of input tax credit for hypothetical firm.
6. Practical problems on payment of tax and interest, if any, for hypothetical firm.

Reference Books:
1. Ahuja, G., & Gupta, R. (2020). Direct Taxes Ready Reckoner. New Delhi: Wolters Kluwer India Private Limited.
Mehrotra, H.C., & Agarwal, V. P. (2019). Goods and Services Tax GST. Uttar Pradesh: Sahitya Bawan
Publications.
2. Singhania, V. K., & Singhania, M. (2020). Students’ Guide to Income Tax Including GST. New Delhi: Taxmann
Publication. Singhania, V. K., & Singhania, K. (2020). Direct Taxes: Law & Practice. New Delhi: Taxmann
Publication.
3. The ICAI Study Material for Final Course Group-II, Paper-8: Indirect Tax Laws [Module 1, 2, and 3]
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MINOR COURSE-1C (SEM-V)
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III. MINOR COURSE- MN 1C:
ELEMENTARY MICRO ECONOMICS

Marks: 25 (5 Attd. + 20 SIE: 1Hr) + 75 (ESE: 3Hrs) = 100 Pass Marks: Th (SIE + ESE) = 40

(Credits: Theory-04) 60 Lectures

Course Objective:
This course is designed to expose the students to the principles of Microeconomics in the field of consumption, production,
equilibrium under different market forms, distribution and welfare economics.

Course Learning Outcome:

On completion of course, the student will be able to understand the basic principle of microeconomics in the optimizing
behavior of consumer, producers and firm. They will be able to apprehend the process by which factors of production are
priced and also the welfare aspects of distribution of income in an economy.

Course Content:
Unit 1: Introduction
1.1 Definition of Economics; Scope of Economics.
1.2 Central problems of an Economy.
1.3 Economic Systems (Socialism & Capitalism).
1.4 Micro and Macro Economics.
1.5 Production Possibility Curve.

Unit 2: Market Forces: Demand & Supply

2.1 Demand – Meaning & Determinants; Law of Demand; Individual demand and Market demand Curve.
2.2 Elasticity of Demand – Meaning; Types; Measurement.
2.3 Supply – Meaning and Determinants, Law of Supply, Individual Supply and Market Supply Curve, Elasticity
of supply

2.4 Market Equilibrium will the help of Demand & Supply.

Unit 3: Consumer Behavior
3.1 Utility – Cardinal and Ordinal.
3.2 Cardinal Utility Analysis – Total and Marginal Utility, Law of Diminishing Marginal Utility, Law of Equi-
Marginal Utility & Consumers equilibrium.
3.3 Indifference Curves (Ordinal Utility Analysis) – Meaning; properties; Budget line; Consumer Equilibrium.
3.4 Price Effect; Income Effect; Substitution Effect (Hicks & Slutsky).
3.5 Consumer’s Surplus.

Unit 4: Production, Cost and Revenue

4.1 Product function – Concept and Types.
4.2 Law of Variable Proportions.
4.3 Isoquants – Meaning and Properties.
4.4 Optimum factor combination and Expansion Path.
4.5 Returns to Scale.
4.6 Concept of cost; Cost Curves - Short run and long run; Relationship among Cost Curves.
4.7 Concept of Revenue; Revenue curves under P.C. & Monopoly; Relationship among Revenue curves.

Unit 5: Market Forms & Equilibrium

5.1 General Analysis of Firm’s Equilibrium.
5.2 Market Classification and Firm’s Revenue Concepts.
5.3 Concept of Market, perfect Market and Imperfect Market.
5.4 Perfect competition - Characteristics, Concept of Firm and Industry; Short Run and Long Run Equilibrium
of firm under Perfect competition; Industry Equilibrium.
5.5 Monopoly – Meaning & Characteristics; Equilibrium in Short Run and Long Run.
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Unit 6: Factor Pricing / Distribution

6.1 Factor of production & Rewards of the factors.
6.2 Theories of Distribution; Rent – Concept; Ricardian Theory of Rent, Modern Theory of Rent.
6.3 Wage – Concept; Classical Theory; Marginal Productivity Theory
6.4 Interest; Profit – Concept; Risk & Uncertainty Theory of Profit, Innovation Theory of Profit

Suggested Readings:
1. Koutsoyiannis A. (1975). Modern Micro-economics (2nd edition). London Macmillan Publishers Ltd.
2. Ahuja, H.L., “Advance Economic Theory”, S. Chand & Company Pvt. Ltd (English & Hindi medium).
3. Jhingan, M.L., “Micro Economics”, Vrinda Publication Pvt. Ltd. (English & Hindi medium).
4. Verma, K.N. (2014). Micro Economic Theory (2nd edition). Vishal Publishing Co., Hindi Medium.
5. Dwivedi, D.N. (2006). Micro-economics Theory & Application Pearson.
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