Master of Commerce (M.Com.) Financial Planning Syllabus - Mumbai University

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Syllabus for Financial Planning

Mandatory course · Semester 4 · M.Com. Banking and Finance · 4 credits · 100 marks

Module I: Fundamentals of Financial Planning (2 Credits)

Unit 1 Introduction to Financial Planning
1 Definition and Importance of Financial Planning
o Explain the concept of financial planning with real-life examples.
o Discuss its importance in achieving financial goals for individuals, households, and businesses.
o Emphasize the role of financial planning in wealth creation and management.
2 Steps in the Financial Planning Process (Practical)
Detail the 6-step financial planning process (establishing goals, gathering data, o
analyzing the data, developing a plan, implementing the plan, and monitoring
progress).
o Discuss practical applications for each step using case studies or scenarios.
o Introduce students to the importance of aligning plans with financial goals.
3 Ethical and Legal Considerations in Financial Planning
o Overview of ethical issues like conflict of interest, fiduciary responsibility, and confidentiality.
o Explore legal frameworks affecting financial advisors, including regulatory
requirements and consumer protection laws.
o Conduct discussions on professional standards and their impact on client relationships.
Unit 2 Budgeting and Cash Flow Management
1 Creating and Managing Budgets(Practical)
o Teach techniques for creating personal and corporate budgets.
o Focus on categorizing income and expenses into fixed, variable, and discretionary components.
o Provide hands-on activities to prepare and manage budgets using tools like spreadsheets.
2 Analysing Income, Expenses, and Savings(Practical)
o Instruct students on identifying and evaluating income sources and expense patterns.
o Emphasize the significance of savings and its impact on financial health.
o Conduct exercises to calculate and interpret key metrics like savings ratios.
3 Tools for Tracking and Optimising Cash Flow(Practical)
o Introduce cash flow management software and mobile applications.
o Discuss strategies to improve cash flow, such as expense reduction and income enhancement.
o Assign practical projects requiring students to optimize hypothetical cash flow scenarios.

Module II: Investment and Risk Management (2 Credits)

Unit 3 Investment Planning(Practical)
1 Overview of Investment Vehicles
o Explain the characteristics, benefits, and risks of different investment options
like stocks, bonds, mutual funds, and real estate.
o Compare these vehicles to help students understand their suitability for different financial goals.
o Incorporate real-world data to teach the process of evaluating investment instruments.
2 Principles of Asset Allocation and Diversification
o Explain the concepts of asset allocation and portfolio diversification.
Teach techniques for allocating investments based on age, risk tolerance, and o
financial goals.
o Analyze sample portfolios to demonstrate the impact of diversification on risk reduction.
3 Risk and Return Analysis
o Introduce risk assessment techniques, such as beta and standard deviation.
o Discuss the trade-off between risk and return using historical data.
o Conduct activities where students analyze the risk-return profiles of different investment instruments.
Unit 4 Risk Management and Insurance Planning(Practical)
1 Identifying and Assessing Financial Risks
o Discuss different types of financial risks: market risk, credit risk, liquidity risk, and inflation risk.
o Teach methods to assess and quantify these risks.
o Analyze case studies on managing financial risks effectively.
2 Role of Insurance in Financial Planning
o Explain the importance of insurance in mitigating financial risks.
o Discuss how insurance supports long-term financial stability and protects assets.
o Share examples of how insurance plays a role in comprehensive financial planning.
3 Types of Insurance: Life, Health, Property, and Liability
o Provide an overview of key insurance types and their coverage.
o Discuss the criteria for selecting the right insurance policies.
o Conduct role-playing activities where students act as financial planners
recommending insurance plans to clients.

References

1 George Rejda, "Principles of Risk Management and Insurance."
2 Gitman & Joehnk, "Personal Financial Planning."
3 Robert Brokamp, "The Only Investment Guide You'll Ever Need."
4 Government and industry reports on financial planning practices.
5 Case studies and research papers on financial planning strategies.

Reproduced from the University of Mumbai syllabus for M.Com. (Banking & Finance) under NEP 2020, in force from the academic year 2023-24. Wording is as printed in that syllabus. Module numbering is as printed there too.

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