Chinmaya Vishwavidyapeeth

Module 1: Regulatory Environment, Professional and Ethical Considerations 

Module 2: Quality Management

Module 3: Planning and Conducting an audit of historical financial institutions

Module 4: Completion, review, reporting and other assignments

Module 5: Current issues and Developments 

Modules 

Module 1: Revenue Recognition (Ind AS 115) (12 Hours) Unit 1: Applicability of IFRS 15 Revenue Recognition – important definitions - Understand the principles of recognising revenue of the business – measurement of revenue of the business – identification of transactions - revenue recognition for goods, services, interest, royalty and dividends – concept of deferred income and accounting thereof-disclosure. 

Module 2– Application of Ind AS: (12 Hours) Unit 1: IAS 36 Impairment of Assets -IAS 40 Investment Property -IFRS 6 non-current assets held for sale- IFRS 13 fair value measurement IAS 12 Income Taxes - IAS 10 events after reporting period - IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors.- IAS 20 Government Grants – IAS 37 Provision- IFRS 16 Lease- IFRS 9 Financial Instrument 

Module 3: Preparation of Financial Statements (Ind AS Complied Companies) (12 Hours) Unit 1: Preparation of Financial Statements –SOPL along with Statement of Comprehensive Income -Statement of Changes in Equity -SOFP(BS) - Notes to Accounts -Disclosures

Module 4: Interpretation of Financial Statement using Ratio Analysis (12 Hours) Unit 1: Ratio Analysis – meaning and definition – objectives/importance of accounting ratios – limitations of ratio analysis – classification of ratios –calculation of key accounting ratios – profitability ratios -liquidity ratios – efficiency ratios -position ratios-interrelationship between ratios – presentation of interpretation based on the ratios to the end users. 

Module 5 - Consolidated Financial Statements (12 Hours) 

Unit 1: Concept of Group accounts – meaning and definition of group concept– definitions: parent company -subsidiary company & associate company - concept of group accounts- single economic entity concept – consolidated financial statements under the single entity concept – Ind AS relevant to the preparation of consolidated financial statements – exempted parent companies from the preparation of groups financial statements- basic principle of a consolidated financial statements. 

Unit 2: Fair Value Method of preparation of consolidated financial statements -mechanism of consolidation – group structure – pre and post -acquisition reserves-cost of investment – non controlling interest - goodwill/capital reserve on acquisition – group reserve -group retained earnings – some important adjustment on consolidation: Interest on loan between parent & subsidiary – provision for unrealized profit – mid-year acquisition – change in the method of depreciation – inter-company sales & Owings -Preparation of consolidated statement of Profit & Loss - Preparation of consolidated statement of financial position. 

Readings: 

1.  Bhattacharya, K Ashish. Corporate Financial Reporting and analysis. PHI learning, Delhi. 

2. Lal, Jawahar & Sucheta, Gauba, Financial Reporting and Analysis. Himalaya Publishing House, Mumbai. 

3. Sapra, Ritu, Kaur, Kamaldeep & Chawla Kanika. Financial Reporting and Analysis. Wisdom Publications, Delhi. Additional Resources 

4. George J. Benstonet. Al, World Financial Reporting, Oxford University Press. 

5. Gibson, C. H., Financial reporting and analysis. Nelson Education. 

6. Lawrence Revsine, Daniel W. Collins, W. Bruce Johnson, H. Fred Mittelstaedt. Financial Reporting and Analysis. McGraw Hill Education