b com 6th sem value education question paper 2020

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6.1 BUSINESS REGULATIONS 

OBJECTIVE:  

To introduce the students to various Business Regulations and familiarize them with common issues  of relevance. 

UNIT 1: INTRODUCTION TO BUSINESS LAWS 06 Hrs 

Introduction, Nature of Law, Meaning and Definition of Business Laws, Scope and Sources of  Business Laws. 

UNIT 2: CONTRACT LAWS 18Hrs 

Indian Contract Act, 1872: Definition of Contract, essentials of a valid contract, classification of  contracts, remedies for breach of contract. 

Indian Sale of Goods Act, 1930: Definition of contract of sale, essentials of contract of sale,  conditions and warrantees, rights and duties of buyer, rights of an unpaid seller. 

UNIT 3: COMPETITION AND CONSUMER LAWS: 14 Hrs 

The Competition Act, 2002: Objectives of Competition Act, Features of Competition Act, CAT, offences and penalties under the Act, Competition Commission of India. 

Consumer Protection Act, 1986: Definition of the terms consumer, consumer dispute, defect,  deficiency, unfair trade practices and services. Rights of the consumer under the Act, Consumer  Redressal Agencies – District Forum, State Commission, National Commission. 

UNIT 4: ECONOMIC LAWS 12 Hrs 

Indian Patent Laws and WTO Patent Rules: Meaning of IPR, invention and non-invention, procedure  to get patent, restoration and surrender of lapsed patent, infringement of patent,  FEMA 1999: Objects of FEMA, salient features of FEMA, definition of important terms: authorized  person, currency, foreign currency, foreign exchange, foreign security, offences and penalties. 

UNIT 5: ENVIRONMENTAL LAW 06 Hrs 

Environment Protection Act, 1986: Objects of the Act, definitions of important terms: environment,  environment pollutant, environment pollution, hazardous substance and occupier, types of pollution,  rules and powers of central government to protect environment in India. 

SKILL DEVELOPMENT  

∙ Prepare a chart showing sources of business law and Indian Constitution Articles having economic  significance. 

∙ Draft an agreement on behalf of an MNC to purchase raw materials indicating therein terms and conditions  and all the essentials of a valid contract. 

∙ Draft an application to the Chief Information Officer of any government office seeking information about  government spending. 

∙ Draft digital signature certificate. 

∙ Draft a complaint to District Consumer Forum on the deficiency of service in a reputed corporate hospital  for medical negligence. 

∙ Collect leading cyber-crimes cases and form groups in the class room and conduct group discussion. ∙ Draft a constructive and innovative suggestions note on global warming reduction. 

BOOKS FOR REFERENCE: 

• K. Aswathappa, Business Laws, HPH, 
• Bulchandni, Business Laws, HPH. 
• K. Venkataramana, Business Regulations, SHBP.  
• Kamakshi P & Srikumari P – Business Regulations, VBH.  
• N.D. Kapoor, Business Laws, Sultan chand publications. 
• S.S Gulshan – Business Law 
• S.C. Sharma: Business Law I.K. International Publishers  
• Tulsion Business Law, TMH.

6.2 PRINCIPLES AND PRACTICE OF AUDITING 

OBJECTIVE: 

This subject aims at imparting knowledge about the principles and methods of auditing and their  applications. 

Unit 1: INTRODUCTION TO AUDITING 12 Hrs Introduction – Meaning - Definition – Objectives – Differences between Accountancy and Auditing – Types of Audit - Advantages of Auditing – Preparation before commencement of new Audit – Audit  Notebook – Audit Working Papers – Audit Program, Recent Trends in Auditing: Nature & Significance of Tax Audit – Cost Audit - Management Audit. 

Unit 2: INTERNAL CONTROL 10 Hrs Internal Control: Meaning and objectives. Internal Check: Meaning, objectives and fundamental  principles. Internal Check as regards: Wage Payments, Cash Sales, Cash Purchases. Internal Audit: Meaning - Advantages and Disadvantages of Internal Audit – Differences between Internal Check and  Internal Audit. 

Unit 3: VOUCHING 12 Hrs Meaning - Definition – Importance – Routine Checking and Vouching – Voucher -Types of Vouchers  – Vouching of Receipts: Cash Sales, Receipts from debtors, Proceeds of the sale of Investments. Vouching of Payments: Cash Purchases, Payment to Creditors, Deferred Revenue Expenditure. 

Unit 4: VERIFICATION AND VALUATION OF ASSETS AND LIABILITIES 12 Hrs Meaning and Objectives of verification and valuation– Position of an Auditor as regards the  Valuation of Assets – Verification and Valuation of different Items: Assets: Land & Building, Plant &  Machinery, Goodwill – Investments - Stock in Trade. Liabilities: Bills Payable - Sundry Creditors – Contingent Liabilities. 

Unit 5: AUDIT OF LIMITED COMPANIES AND OTHERS 10 Hrs Company Auditor – Appointment – Qualification - Powers - Duties and Liabilities – Professional  Ethics of an Auditor. Audit of Educational Institutions – Audit of Insurance Companies- Audit of Co operative societies. 

SKILL DEVELOPMENT: 

∙ Collect the information about types of audit conducted in any one Organization ∙ Visit an audit firm, write about the procedure followed by them in Auditing the books of accounts  of a firm. 

∙ Draft an investigation report on behalf of a Public Limited Company 

∙ Record the verification procedure with respect to any one fixed asset. 

∙ Draft an audit program. 

• P N Reddy & Appannaiah, Auditing, HPH 
• TR Sharma, Auditing, Sahitya Bhavan  
• BN Tandon, Practical Auditing, Sultan Chand  
• Dr. Nanje Gowda, Principles of Auditing, VBH  
• Dr. Alice Mani: Principles & Practices of Auditing, SBH.  
• K. Venkataramana, Principles And Practice Of Auditing, SHBP.  
• MS Ramaswamy, Principles and Practice of Auditing.  
• Dinakar Pagare, Practice of Auditing, Sultan Chand  
• Kamal Gupta, Practical Auditing, TMH 
• R.G Sexena - Principles and Practice of Auditing, HPH

6.3 INCOME TAX - II 

The Objective of this subject is to make the students to understand the computation of Taxable  Income and Tax Liability of individuals. 

Unit 1: PROFITS AND GAINS FROM BUSINESS OR PROFESSION 16 Hrs Meaning and Definition of Business, Profession – Vocation - Expenses Expressly Allowed – Allowable Losses – Expenses Expressly Disallowed – Expenses Allowed on Payment Basis - Problems on Business relating to Sole Trader and Problems on Profession relating to Chartered  Accountant, Advocate and Medical Practitioner. 

Unit 2: CAPITAL GAINS 16 Hrs Basis of Charge – Capital Assets – Transfer of Capital Assets – Computation of Capital Gains – Exemptions U/S 54, 54B, 54D, 54EC, 54F– Problems on Capital Gains. 

Unit 3: INCOME FROM OTHER SOURCES 10 Hrs Incomes – Taxable under the head Other Sources – Securities – Kinds of Securities – Rules for  Grossing Up – Ex-Interest Securities – Cum-Interest Securities – Bond Washing Transactions – Problems on Income from Other Sources. 

Unit 4: DEDUCTIONS FROM GROSS TOTAL INCOME 06 Hrs Deductions u/s: 80 C, 80 CCC, 80 CCD, 80 D, 80 G, 80 GG, 80 GGA, and 80 U. (80 G & 80 GG together should not be given in one problem)  

Unit 5: SET-OFF & CARRY FORWARD OF LOSSES AND ASSESSMENT OF  INDIVIDUALS 08Hrs Meaning –Provision for Set-off & Carry forward of losses (Theory only). 

Computation of Total Income and Tax Liability of an Individual Assessee (Problems– in case of  income from salary & house property- computed income may be given).  

SKILL DEVELOPMENT 

∙ Table of rates of Tax deducted at source. 

∙ Filing of IT returns of individuals. 

∙ List of Enclosures for IT returns. 

BOOKS FOR REFERENCE 

• Dr. Vinod K. Singhania: Direct Taxes – Law and Practice, Taxmann publication. 2. B.B. Lal: Direct Taxes, Konark Publisher (P) ltd. 
• Dinakar Pagare: Law and Practice of Income Tax, Sultan Chand and sons. 4. Gaur & Narang: Income Tax, Kalyani 
• B.B. Lal: Income Tax, Central Sales Tax Law & Practice, Konark Publisher (P) Ltd. 6. Singhania: Income Tax 
• Dr. H.C Mehrothra : Income Tax, Sahitya Bhavan 
• 7 Lecturer Income Tax – VBH

6.4 MANAGEMENT ACCOUNTING 

The objective of this subject is to enable the students to understand the analysis and interpretation of  financial statements with a view to prepare management reports for decision-making. 

UNIT 1: INTRODUCTION TO MANAGEMENT ACCOUNTING 12 Hrs 

Management Accounting: Meaning – Definition – Objectives – Nature and Scope– Role of  Management Accountant – Relationship between Financial Accounting and Management Accounting,  Relationship between Cost Accounting and Management Accounting.  

Analysis of Financial Statements: Types of Analysis – Methods of Financial Analysis – Problems on  Comparative Statement analysis – Common Size Statement analysis and Trend Analysis. 

UNIT2: RATIO ANALYSIS 14 Hrs 

Meaning and Definition of Ratio, Classification of Ratios, Uses & Limitations – Meaning and types of  Ratio Analysis – Calculation of Liquidity ratios, Profitability ratios and Solvency ratios.  

UNIT 3: FUND FLOW ANALYSIS 10 Hrs 

Meaning and Concept of Fund – Meaning and Definition of Fund Flow Statement – Uses and  Limitations of Fund Flow Statement – Differences between Cash Flow Statement and Fund Flow  Statement - Procedure for preparation of Fund Flow Statement – Statement of changes in Working  Capital – Statement of Funds from Operations – Statement of Sources and Applications of Funds – 

Problems.  

UNIT 4: CASH FLOW ANALYSIS 14 Hrs 

Meaning and Definition of Cash Flow Statement – Concept of Cash and Cash Equivalents - Uses of  Cash Flow Statement – Limitations of Cash Flow Statement – Provisions of Ind AS-7 (old AS 3) – Procedure for preparation of Cash Flow Statement – Cash Flow from Operating Activities – Cash  Flow from Investing Activities and Cash Flow from Financing Activities – Preparation of Cash Flow  Statement according to Ind AS-7 (old AS 3) (Indirect Method Only). 

UNIT 5: MANAGEMENT REPORTING 06 Hrs 

Meaning of Management Reporting – Requisites of a Good Reporting System – Principles of Good  Reporting System – Kinds of Reports – Drafting of Reports under different Situations. 

∙ Collection of financial statements of any one organization for two years and preparing comparative  statements 

∙ Collection of financial statements of any two organization for two years and prepare a common Size  Statements  

∙ Collect statements of an Organization and Calculate Important Accounting Ratio’s ∙ Draft a report on any crisis in an organization. 

• Dr. S.N. Maheswari , Management Accounting  
• Sexana, Management Accounting 
• SudhindraBhat- Management Accounting  
• Dr. S.N. Goyal and Manmohan, Management Accounting 
• B.S. Raman, Management Accounting 
• Sharma and Gupta, Management Accounting 
• M Muniraju& K Ramachandra, Management Accounting 
• PN Reddy &Appanaiah, Essentials of Management Accounting. 
• J.Made Gowda - Management Accounting 

Business Regulations

Previous Year Question paper

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Principles and Practice of Auditing

Income Tax – II

Management Accounting

ACCOUNTING & TAXATION GROUP (Elective)

FINANCE GROUP (Elective)

INFORMATION & TECHNOLOGY GROUP (Elective)

BANKING & INSURANCE GROUP (Elective)

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