Introduction to Financial Accounting
Financial Accounting is a fundamental branch of accounting that focuses on recording, classifying, summarising, and reporting the financial transactions of a business. It provides a systematic framework for preparing financial statements such as the Trading Account, Profit and Loss Account, and Balance Sheet. These statements help determine the profitability, financial position, and overall performance of an organisation.
This introductory chapter familiarises students with the basic concepts, objectives, functions, principles, and importance of financial accounting. It also explains the accounting process, accounting cycle, users of accounting information, and the fundamental accounting equation. A clear understanding of these concepts provides a strong foundation for studying advanced topics such as journal entries, ledger accounts, trial balance, final accounts, and financial statement analysis.
- Teacher: Dr. Lokesh Gupta
This subject introduces students to the basic principles and techniques of legal drafting, focusing on the correct format, structure, and language of various legal documents commonly used in business and professional settings. Students will learn to draft simple legal documents such as notices, affidavits, contracts, agreements, and declarations with clarity and legal accuracy. Emphasis is placed on understanding legal terminology, logical organization, and compliance with legal standards. The subject aims to build foundational skills in legal writing that are essential for careers in commerce, banking, insurance, and management.
- Teacher: Ruddhi Wadadekar
This course provides a comprehensive understanding of the Indian financial system and its key components. It begins with an overview of the financial system, covering its meaning, features, roles, and the functions it performs in the Indian economy. The course delves into the structure of the Indian financial system, including financial institutions, markets, instruments, services, and regulators, while tracing its evolution and exploring major international financial institutions. Learners will analyze the challenges faced by the Indian financial system and examine the reforms, growth, and development it has undergone. A detailed study of financial markets—including capital, money, foreign exchange, commodity, and derivative markets—is included, with a focus on their structure, sub-segments, roles, and participants. The course also covers the classification and characteristics of various financial instruments, including emerging ones. In the section on financial regulators, students will understand the need for regulation and the specific roles and powers of key regulators like the RBI, SEBI, PFRDA, IRDAI, NABARD, NHB, and the ombudsman systems in banking and insurance. This course is ideal for students seeking to build foundational knowledge in finance and understand the dynamic regulatory and institutional framework that supports India's financial system.
- Teacher: Prasanna Choudhari