B.Com. (Accounting and Finance) Corporate Financial Reporting I Syllabus - Mumbai University

This is the TY BAF syllabus under NEP 2020, in force from the academic year 2026-27. The University still sets the earlier Choice Based syllabus below alongside it for ATKT candidates, so check which scheme your exam form names before you revise.

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Syllabus for Corporate Financial Reporting - I

Major elective · Semester 5 · TY BAF · 4 credits

Module I: Introduction to Corporate Financial Reporting & Regulatory Framework Introduction to Corporate Financial Reporting

Meaning, objectives, and scope of corporate financial reporting.
Importance of financial reporting for stakeholders.
Limitations of corporate financial reporting
Role of corporate governance in financial reporting Conceptual Framework of Financial Reporting
Definition and objectives of the conceptual framework
Elements of financial statements: assets, liabilities, equity, income, expenses
Role of statutory bodies: Ministry of Corporate Affairs (MCA), Securities and Exchange Board of India (SEBI), Institute of Chartered Accountants of India (ICAI)
Companies Act provisions relating to financial reporting
SEBI guidelines for listed companies
International regulatory bodies: IASB, IFRS Foundation

Module II: International Financial Reporting Standards (IFRS) and Ind AS

Introduction to Ind AS: Need, objectives, and convergence with IFRS
Generally Accepted Accounting Principles in India
Accounting Standards, their applicability, interpretation, scope and compliance in India
Introduction to IFRS, Ind AS Overview of Ind AS Applicability of Ind AS Ind AS 1: Presentation of Financial Statements
Components of financial statements
Fair presentation and compliance with Ind AS
Going concern, accrual basis, consistency
Structure and content: balance sheet, P&L, OCI, equity, cash flows, notes
Current vs. non-current classification
Disclosure requirements (judgments, assumptions, policies) Practical Applications:
Case studies on classification (assets/liabilities)
Examples of disclosure notes

Module III: Ind AS 2

A. Ind AS 2: Inventories
Measurement: cost vs. net realizable value (NRV)
Cost formulas: FIFO, weighted average
Exclusions (e.g., construction contracts, financial instruments)
Disclosure requirements Practical Applications:
Numerical problems on valuation
Case studies on NRV adjustments

Module IV: Ind AS 16 Ind AS 16: Property, Plant, and Equipment

Scope and definitions (PPE, costs, subsequent expenditure)
Recognition criteria (probable future benefits, reliable measurement)
Initial measurement (cost, directly attributable costs, dismantling/restoration obligations)
Subsequent measurement:
Cost model vs. revaluation model
Depreciation methods and useful life
Component accounting
Derecognition (disposal, retirement)
Disclosure requirements
Practical Applications:
Numerical problems on depreciation and revaluation
Case studies on component accounting

Reference Books

1 Corporate Financial Reporting and Analysis: A Global Perspective – S. David Young, Jacob Cohen, Daniel A. Bens (covers GAAP, IFRS, and regulatory aspects) 10 2. Taxman’s Indian Accounting Standards (Ind AS) – Comprehensive reference with IFRS comparisons
3 Taxman’s Illustrated Guide to Indian Accounting Standards (Ind AS) by B.D. Chatterjee & Jinender Jain
1 Conceptual Framework for Financial Reporting – Financial Accounting Standards Board (FASB)
2 Illustrated Guide to Indian Accounting Standards (Ind AS) – B. D. Chatterjee & Jinender Jain
3 Advanced Accounts by Shukla & Grewal, S. Chand and Company (P) Ltd., New Delhi
4 ICAI CA Final Module of Financial Reporting External, Semester End Examination 11 Internal Continuous Assessment: 40% 60% Individual Passing in Internal and External Examination 12 Continuous Evaluation through: Semester End External – 60 Marks Sr. Time – 2 Hours Assessment/Evaluation Marks No. Attempt any 4 out of 6 questions Class Test during the lectures. (Physical/Online Mode) (Short No. Question Marks 1 Notes/ MCQs/ Match the 20 Q.1 Practical/Theory 15 Pairs/ Answer in one sentence/ Puzzles/ Numerical) Q.2 Practical/Theory 15 Participation in Workshop/ Q.3 Practical/Theory 15 Conference/ Seminar/ Q.4 Practical/Theory 15 2 10 Assignment & Viva Q.5 Practical/Theory 15 (Physical/Online Mode) Q.6 Practical/Theory 15 Group Presentation/ Role Play/ Note Case Study Participation / 1. Equal Weightage is to be given to all the 3 10 Certificate Course modules. (Physical/Online Mode) 2. 15 marks question may be subdivided into 8 marks + 7 marks, 10 marks + 5 marks and 5 marks + 5 marks + 5 marks. Internal options may be given however, it is not mandatory.
3 Use of a simple calculator is allowed in the examination.
4 Wherever possible more importance is to be given to the practical problem. Sem V Vertical - 4 VSC (2) Syllabus B.Com. (Accounting and Finance) (Sem.- V)

Reproduced from the University of Mumbai syllabus for B.Com. (Accounting & Finance) under NEP 2020, in force from the academic year 2026-27. Wording is as printed in that syllabus. Module numbering is as printed there too.

The complete syllabus

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