Download master of finance and control

MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
MASTER OF FINANCE AND CONTROL
(SEMESTER SYSTEM)
(Applicable to University College of Commerce & Business Management,
Osmania University, w.e.f. 2007-‘08)
SYLLABUS
..
FACULTY OF COMMERCE
OSMANIA UNIVERSITY, HYDERABAD
April 2007
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MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
MASTER OF FINANCE AND CONTROL (MFC) COURSE STRUCTURE
FIRST SEMESTER
Code
Name of the Paper
MCF 101
MCF 102
MCF 103
MCF 104
MCF 105
Cost and Management Accounting
Management and Organization Behaviour
Marketing Management
Financial Management
Business Environmental and Policy
Seminar
Total
SECOND SEMESTER
MCF 201 Management Control and Information
Systems
MCF 202 Security Analysis and Asset Management
MCF 203 Financial Institutions and Markets
MCF 204 IT and E – Commerce
MCF 205
PPW
5
5
5
5
5
2
27
Exam
Hrs
3
3
3
3
3
Sem.
Exam
80
80
80
80
80
IA/PR
Total
20
20
20
20
20
100
100
100
100
100
500
5
3
80
20
100
5
5
3
3
3
80
80
56
20
20
14IA
30LB
20
100
100
100
5 (3T
+ 2P)
Financial Services
5
3
80
100
Seminar
2
Total
27
500
THIRD SEMESTER
MCF 301 Quantitative Techniques for Business
5
3
80
20
100
Decisions
MCF 302 Project Management
5
3
80
20
100
MCF 303 Marketing of Financial Services
5
3
80
20
100
MCF 304 Elective Paper: 304 BAN/304 INS
5
3
80
20
100
MCF 305 Elective Paper: 305 BAN/305 INS
5
3
80
20
100
Seminars
2
Total
27
500
FOURTH SEMESTER
MCF 401 Tax Planning and Audit Control
5
3
80
20
100
MCF 402 International Finance
5
3
80
20
100
MCF 403 Elective Paper: 403 BAN/403 INS
5
3
80
20
100
MCF 404 Elective Paper: 404 BAN/404 INS
5
3
80
20
100
MCF 405 Project Work
5
GR
Seminars
2
Total
27
500
Notation:
PR – Practical; IA – Internal assessment;
GR – Grading (out of 100 marks); LAB – Lab
Practical Examination.
Notes:
i) Teachers are advised to handle/analyze at least 3 or 4 cases in the subject in the classroom on
any topics outlined wherever feasible.
ii) A, B, C, and D grades are awarded for project work on the basis of marks secured as per the
directive given by the University. Refer Project work guidelines for details.
iii) For each paper there will be semester examination for 80 marks and 20 marks for internal
assessment [15 marks for tests (average of the two tests) and 5 marks for assignment in the
subject].
iv) In paper 204 theory examination is for 56 marks, Internal Assessment is for 14 marks and
Computer Lab Practical examinations is for 30 marks.
v) Seminars are meant for the students’ micro presentations and guest lectures by the external
faculty/industry expert.
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MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
SEMESTER – I
COST AND MANAGEMENT ACCOUNTING - 101
OBJECTIVES: To familiarise the student with the basics of Cost and Managerial Accounting and
acquaint the student with practical knowledge in application of Cost and Managerial accounting
Techniques.
UNIT-I: INTRODUCTION TO COST AND MANAGEMENT ACCOUNTING:
Cost Accounting – Objectives – Importance – Cost concepts – Methods and Techniques of Cost
Accounting – Cost Classification – Overheads costing including Activity Based Costing (ABC) (Theory
only).
Management Accounting – Meaning - Management Accounting its relationship with Financial Accounting
and Cost Accounting – Techniques of management accounting – Limitations of Management Accounting
(Theory Only).
Accounting Standards – Concept – Types of Accounting Standards – An overview of accounting
standards in India (Theory only).
UNIT-II: MARGINAL COSTING, DIFFERENTIAL COSTING AND CVP ANALYSIS:
Absorption Costing and Variable Costing – Comparison – Preparation of income statements – Marginal
and relevant costs for decision making – Cost – Volume – Profit Analysis – break Even Analysis CVP
analysis – Multi product BEP – Differential Costing – Decision making under Marginal and Differential
Costing (Including Problems).
Managerial Decision Making – Pricing decisions – Product decision - Profit planning Level of Activity Dropping a product line - Introducing a new product line - Product /Sales mix decision – Make or Buy
decisions Key - Limiting Factors (Including Problems).
UNIT-III: RESPONSIBILITY ACCOUNTING AND INFLATION ACCOUNTING:
Responsibility Accounting: Concepts – Steps – Responsibility Centre – Types of Responsibility Centers:
Cost Centre, Revenue, Profit Centre and Investment Centre (Including Problems).
Inflation Accounting: Concept – Limitations of historical based-cost financial statements – Methods of
Inflation Accounting - Current Purchasing Power Method – Current Cost Accounting Methods (Including
Problems).
UNI-IV: FINANCIAL MEASURES OF PERFORMANCE AND CASH FLOW STATEMENT:
Introduction – Return On Investment (ROI) – Concept – Uses and Limitations – Economic Value Added
(EVA) – Concept – Significance of EVA – Measurement of EVA (Theory only).
Balanced Score Card (BSC) – Concept – Objectives – Perspectives of BSC - Multiple Scorecard
Measures to a Single Strategy (Theory Only).
Cash Flow Statement: Meaning - Preparation of Cash Flow Statement as per Accounting Standard No. 3
(Including Problems).
UNIT-V: REPORTING OF FINANCIAL DATA:
Concepts of Financial reporting – Development in Financial reporting - Trueblood Report – The
Corporate Report (UK) - Objectives of Financial Reporting – Qualities of Financial Reporting – Specific
issues in corporate reporting - Social Reporting - Segment Reporting – Interim Reporting and Human
Resource Accounting (HRA) - Harmonization in Financial Reporting - Concept - Obstacles in
Harmonization - Recent trends in corporate reporting in India (Theory only).
SUGGESTED READINGS:
1. “Management Accounting” – Sharma RK & Shashi K. Gupta, Kalyani Publishers
2. “Management Accounting” – Hansen & Mowen, Thomson 2007
3. “Accounting Theory” – Lele & Jawaharla, Himalya Publishing Company
4. “Managerial Accounting”- Louderback, Thomson 2005
5. “Accounting Theory & Management Accounting” - Jain S.P. & Narang K.L., Kalyani Publishers
6. “Management Accounting” – Atkinson, 3e Prentice-Hall of India Private Limited
7. “Accounting Standards” - Rawat D.S., Taxmen Allied Services Private Limited
8. “Management Accounting” - Rustagi R.P, Galgotia Publishing Company
9. “Accounting Standards and Corporate Accounting Practices” - Ghosh T.P, Taxmann
10. “Financial Accounting” – Antle, with GAAP, Thomson, 2005.
11. “Advanced Accountancy” - Gupta R.L & Radhaswamy Sultan Chand & Sons
12. “Financial Accounting: Reporting & Analysis” - Stice, 7e, Thomson, 2007
13. “International Accounting” - Saudagaran, Thomson, 2007
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MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
MANAGEMENT AND ORGANISATION BEHAVIOUR – 102
Objective: To facilitate the students to understand the concepts relating management &
organization behavior.
Unit-I: An Overview of Management and Organizational Behaviour:
a) Management - Definition – Function – Role – Skills Levels – Effective Vs Sucessful Managerial
Activities
b) Organization - Definition – Organization theories – Classical Theory – features – Limitations New Classical theory – features – limitations – modern organization theory – features – system
approach – contingency approach.
c) Organizational behaviour (OB) – features – scope – fundamental concepts of OB – challenges
and opportunities for OB – contributing disciplines to the OB.
Unit-II: Understanding Individual and Group Behaviour:
a) Individual Behavior: Personality – Determinants – Major Personality Attributes Learning –
Theories. Perceptions – Process – Factors influencing perception attitudes – Functions –
components – attitudes formation – attitude change.
b) Group Behavior: Group and Teams – Concepts – Features – Group cohesiveness Factors
influencing group cohesiveness – group norms – Group decision making – Factors influencing group
effectives.
Unit-III: Motivation, Morale and Culture:
a) Motivation: Theories of Motivation – Motivational Processes - Content Theories ( Maslow,
Herzberg, Mc Cleland) – Process Theories (Adam, Victor, Vroom and Lawler and Porter) – Learning
and Reinforcement Theory.
b) Morale: Factors influencing Morale
c) Organisational Culture: Concepts – Forming a Culture – Sustaining Culture – Changing Culture.
Unit-IV: Organisational Power and Politics & Conflict and Negotiations:
a) Power and Politics: Power Bases – Dependency – Individual Vs Organizational Power – Power
tactics – Power in groups – Politics in the context of organization - Political behavior in Organization
– Factors contributing – Techniques of Organisational Politics – Managing Political Behaviour.
b) Conflict – Transition in Conflict Thought – Functional and Dysfunctional Conflict – Process of
Conflict – Managing Conflict.
c) Negotiations – Process – Approaches – Issues in negotiations.
Unit-V: Leadership and Change:
a) Leadership: Introduction – Leadership and Management – Leadership Styles
b) Theories of Leadership: Traits – Behavioral Model (Managerial Grid) – Contingency (Fielder, Path
goal, Tri-dimensional, Life Cycle) – Inspirational approaches.
c) Change factor contributing to change – Resistance to Change – Approaches – Contemporary
Issues in change.
SUGGESTED READINGS:
1. Hellriegel: Organisational Behaviour, 10e, Thomson 2006.
2. Robins P.Stephen & Judge: Organizational Behavior, 12/e PHI, New De1hi.2007
3. Daft: Organisation Theory and Design, Thomson 2005
4. Fred Luthans: Organizational Behavior, Me Graw Hill, New Delhi.
5. Nelson: Organisational Behaviour, 3e, Thomson 2006
6. Daft: The New Era of Management, 7e, 2007.
7. Aswathappa: Organizational Behavior, Himalaya Publisher.
8. Hodgetts: Modern Human Relations at Work, Thomson 2007.
9. Jones G R :Organizational Theory, Pearson Education, New Delhi
10. Shashi Gupta & Rosy: Organisation Behaviour—Kalyani Publication.
*****
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MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
MARKETING MANAGEMENT – 103
Course Objectives : The course aims to develop skills in the analysis and resolution of
management problems related to the marketing process;
Unit-I: Marketing Basics (Only Concepts):
An Overview of Marketing - Production concept - Product concept - Marketing myopia - Selling
concept - Marketing Concept - Societal dimension of marketing - Importance and scope of
marketing. Rural Marketing , Rural Markets VS Urban Markets - Marketing Management tasks Types of demand - Marketing mix - marketing Objectives - Marketing Planning and Strategy Mega Marketing - Service Marketing
Unit-II: Market Segmentation and Target Marketing and Consumer Behavior:
Market segmentation: Concept of Target market - Concept - Types - Patterns - Benefits Requirements for effective segmentation - Basis for market segmentation - market
segmentation analysis for given products - Product positioning.
Concept of consumer behavior - Major factors influencing consumer behavior: Cultural - Social Economic - Psychological & Personal - Consumer decision process - Post purchase behavior Marketing Research - Steps.
Unit-III: Product & Price Management:
Concept of product - Product mix and product line decisions - new Product Development
Process - Product Life Cycle Stages and implication for marketers - Branding - Packaging and
labeling strategies.
Role of price in marketing mix - Pricing concept – Pricing – Methods and Strategies.
Unit-IV: Channel & Promotion Management:
Channels: Nature of marketing channels - Types – Channel Structure and Participants – Supply
Chain Management.
Promotion Management: Role of promotion in marketing - Promotion mix - A view of the
Communication Process - Advertising - Need - Objectives - Types of advertising - Major
decisions in advertising - Objectives - Budget - Strategy - Evaluation - Advertising and Social
Marketing - Sales Promotion - Personal Selling - Publicity - Public Relations.
Unit-V: E-Marketing:
E-Marketing - promises and challenges - Benefits of E-Marketing - Customers Database- kiosk
marketing - building E-mail addresses database - Internet related Marketing mix - Internet
Related marketing techniques - Online advertising mechanisms - Issues in Web site design Attracting customers to the Web site - Choosing the ISP - Customer Relationship Management.
SUGGESTED READINGS:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
Philip Kotler: Marketing management Analysis, Planning & Control, 9th edn.- Person Education
Philip Kotler: Principles of Marketing
Joel R. Evans Barry Berman: Marketing
E. Jerome McCarthy William D. Pearreault: Basic Marketing
W.J. Stanton: Fundamentals of Marketing
J.C. Gandhi: Marketing Management
Loudon & Della Bitta: Consumer Behavior Concepts and Applications
Schiffman & Kaunuk, Consumer Behavior, Prentice hall
Lovelock: Managing Services, marketing Operations and Human Resources, 5th Edition/7th Edition
Electronic commerce–Security, Risk Management & Control, Greenstein and Feinman, Irwin
Electronic Commerce, Managerial perspective, Efraim Turban et al, Addison Wesley, New Delhi
Services marketing – Ram Mohan Rao – prentice Hall
Services Marketing – Lovelock – Pearson Education.
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MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
FINANCIAL MANAGEMENT - 104
OBJECTIVES: To introduce the subject of Financial management; and to acquaint the student with various
techniques of Financial Management.
UNIT-I: FINANCIAL MANAGEMENT - BASIC CONCEPTS:
Financial Management – Meaning - Goals - Objectives – Functions of a finance manager - Financial
decision – making - Concept and relevance of Time Value of Money - Compounding technique –
Discounting technique (Simple applications of the time value of money).
UNIT-II: LONG TERM INVESTMENT DECISIONS (CAPITAL BUDGETING):
Nature of Investment decision - Features and significance of Capital budgeting - Types of Capital
budgeting decisions - Capital budgeting process - Cash flows estimation - Methods/Techniques of
Evaluation - Traditional techniques - Payback period method Accounting Rate of Return (ARR) method Discounted Cash Flows (DCF) methods/techniques - Net Present Value (NPV) method - Internal Rate of
Return (IRR) method - Reciprocal Rate of return method – Profitability Index - Criteria for Selection of a
project - Evaluation and Interpretation of all the methods – Issues in Capital budgeting (Including
problems).
UNIT- III: RISK ANALYSIS IN CAPITAL BUDGETING AND COST OF CAPITAL:
Risk: meaning and nature - Risk adjusted discount rate - Certainty Equivalent (including problems) Statistical Techniques to handle risk - Probability Assignments - Standard Deviation and Coefficient of
Variation - Probability Distribution approaches - Decision Tree Analysis (theory only).
Cost of Capital: Concepts - Importance - Specific cost of capital for various sources of finance - Cost of
Debt - Cost of Preference Capital - Cost of Equity Capital - Cost of External Equity - Cost of Retained
Earnings - Weighted Average Cost of Capital - Book Value and Market Value Weights and Marginal Cost
of Capital (including problems).
UNIT–IV: FINANCING AND DIVIDEND DECISIOINS:
Concept of Leverages: Operating Leverage - Meaning and measurement – Financial leverage - meaning
and measurement – Degree of Financial and Operating Leverages - Combined Leverage – Meaning Measurement and importance EBIT- EPS Analysis with different financing patterns – Indifference
point/level of EBIT. (including simple problems).
Capital structure: Meaning - Determinants of Capital Structure' - Optimum Capital Structure - Capital
Structure Theories - Net Income Approach. Net Operating Income approach -Traditional view M.M.Hypothesis (theory only).
Dividend decisions: Concept and significance – Types - Dividend policy and value of the firm Determinants of dividend decision – Relevance of dividend decision (Walter’s Model – Gordon’s Model) –
Irrelevance of dividend policy (Residuals theory of dividends, MM Approach – Dividend policy and share
value – Legal and procedural considerations. (Including Simple Problems on approaches to Dividend
policy).
UNIT-V: WORKING CAPITAL MANAGEMENT:
Concepts of Working Capital - Determinants of Working Capital - Optimum level of current assets Liquidity Vs. Profitability - Risk Return Trade off - Estimating Working Capital needs (including Simple
Problems).
Objectives and importance of Cash Management - Receivables Management and Inventory Management
(including problems on cash management and receivables management).
SUGGESTED READINGS:
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2.
3.
4.
5.
6.
7.
8.
9.
10.
Financial Management - Van Horn, James C, Prentice Hall of India (P) Ltd.
Fundamental of Financial Management - Eugene Brigham & Erhardt, 10e Thomson, 2006.
An Introduction to Financial Management - Solemen Ezra & Pringle John. J:, PHI.
Financial management - Khan M.Y. & Jain PK, Tata Mcgraw Hill Publishing.
Financial Management - Pandey I.M, Vikas Publishing House (P) Ltd.
Financial management - Chandra Prasanna, Tata Mcgraw Hill Publishing
Financial Management - Kulkarni P.V, Himalaya Publishing House.
Corporate Finance - Erhardt & Brigham, A Focused Approach, Thomson, 2005.
Essential of Business Finances - Srivatsava R.M, Himalaya Publishing House, Mumbai.
Practical Financial Management - Lasher:, Thomson 2005.
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MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
BUSINESS ENVIRONMENT AND POLICY - 105
OBJECTIVE: To acquaint the student with the national and global environment
pertaining to business.
UNIT-I: COMPONENTS OF BUSINESS ENVIRONMENT:
Business environment: micro environment - macro environment.
Policy environment: industrial policy - industrial policy resolution 1956 – new industrial
policy 1991 - shift in focus.
UNIT-II: LIBERALIZATION AND GLOBALIZATION:
New economic policy: economic reforms - liberalization.
Globalization: meaning – stages – factors facilitating and impeding globalization in India
– consequences of globalization for India.
UNIT-III: PUBLIC SECTOR AND PRIVATIZATION:
Public sector: changing role of public sector - relevance of public sector – public Sector
reforms.
Privatization and disinvestments: concepts – forms.
Regulatory framework with reference to insurance – power and telecom sectors.
UNIT-IV: FOREIGN CAPITAL:
Foreign direct investment: policy - trends -problems - consequences – FEMA Multinational corporations - entry strategies - role - growth – problems - Consequences.
Mergers and acquisitions: reasons – trends – advantages and disadvantages.
UNIT-V: WTO AND TRADE POLICY:
WTO agreements: Agreement on Agriculture (AOA) – Multi Fiber Agreement (MFA) Trade Related Intellectual Property Rights (TRIPS) - Trade Related Investment
Measures (TRIMS) - General Agreement on Trade in Services (GATS) - Barriers to
trade.
Trade policy changes consequent to WTO - recent Exim policy - consequences of WTO
for India.
SUGGESTED READINGS:
1. Globalization, liberalization and privatization of public enterprises - Prof. Laxmi Narain, Sultan Chand.
2. Economic Environment of Business, S.K.Misra & V.K.Puri, Himalaya Publishing House.
3. Indian Economy, I S.K.Misra &V.K.Puri, Himalaya Publishing House.
4. Global Economy and Business Environment, Francis Cherunilam, Himalaya Publishing House.
5. Business Environment - Text and Cases - Francis Cherunilam, Himalaya Publishing House.
6. Business Environment, Aswathappa, - Himalaya Publishing House.
7. Indian Economy - Dutt and Sundharam.
8. Indian Economy – Ray, PHI 2007.
Reports:
1. World Development Report;
2. Human Development Report;
3. India Development Report;
4. Pre-budget economic Survey.
Periodical:
Economic and Political weekly; Business India; Business World; Business Today; Finance India;
Business standards.
*****
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MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
SEMESTER - II
MANAGEMENT CONTROL AND INFORMATION SYSTEMS - 201
OBJECTIVES: To know the necessary dimensions of developing systems to become effective
management professionals in Finance/Accounting areas. It also provides practical knowledge of
computerized accounting packages.
UNIT-1: MANAGEMENT CONTROL STRUCTURE:
Nature of Control – Control in Organizations – Planning and Control Processes - Overview of
Management Control Systems – Management Control Information.
Responsibility Centers: Investment Centers – Revenue Centers – Expense Centers – Discretionary
Expense Centers – Administrative Centers – Development Centers – Marketing Centers – Profit Centers
– Other Profit Centers – Measuring Profitability - Transfer pricing: Meaning and Objectives – Methods.
UNIT-II: MANAGEMENT CONTROL PROCESS:
Management Control Process – Programming - The Process of Programming – Principal Steps in
Programming Process.
Budget Preparation – Budget Vs. Forecasts – Types of Budgets (Expensive Budget, Revenue Budget,
Profit Budget) – Review of and approval of Budgets – Budget administration – Behavioral aspects of
Budget.
Analyising and reporting of financial performance - Analysis of variances (revenues variance, cost
variance) - reporting variances - Factors affecting performance appraisal – Financial measures – The
profit budget in performance appraisal – Tight Vs. Loose delegation – Other financial performance
Measures – Non-budgetary techniques – Non-financial measures.
UNIT-III: INFORMATION SYSTEMS IN ORGANIZATIONS:
Information Systems – Organization - Management & Strategy; Information needs of management at
various levels of organization - flow of Information in the organizations – Top down – Bottom up –
Integration Information Systems – meaning – nature – Role.
Current Issues in Information Systems – Role of Intranet and Internet in the development of financial
information system for a Business organization – E-Commerce – Enterprise Resource Planning – SCM –
CRM – Integration planning of the above with financial system (Concepts only).
UNIT-IV: APPROACHES AND TYPES OF INFORMATION SYSTEMS:
Approaches of Information Systems – Technical – Behavioral – Social-technical - Approaches – Types of
Information Systems in Business Organizations – Decision Support System – MIS – Expert System –
Knowledge Management System – Transaction Processing System – Importance of Information Systems
in supporting various levels of Business Strategy formulation and decision making – Software and
Hardware requirements for developing efficient Information System.
UNIT-V: COMPUTERISED ACCOUNTING AND ACCOUNTING PACKAGES:
Computerized Accounting – Features – Advantages and Disadvantages – Computerized Accounting and
Manual Accounting – Creation of Company – Grouping of Accounts – Creation of Accounts and Inventory
– Entering transactions – Vouchers – Types – Numbering deleting and editing vouchers – Opening and
closing balances – Stock valuation.
Reports generation: Trial balance – Profit and Loss Account – Balance Sheet – Balance Reconciliation –
Stock Report – Budget Variance Report - Transaction list – Customer /Supplier Report – Value Added
Tax (VAT) – Register – Report – Service Tax – Register – Report.
Lab work: Accounting Package – Tally and others.
SUGGESTED READINGS:
1. Management Control Systems - Anthony and Dearden, TMH.
2. Principles of Information Systems - Stair, 8e – Thomson.
3. Introduction to Information Technology – Turban, Wiley India.
4. Introduction to Information Systems - O’Brien, 4e, TMH.
5. I.T - Inside and Outside – Cyzanshy, Pearson Education.
6. Handbooks and documentation of the relevant package for UNIT-V.
8
MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
SECURITY ANALYSIS AND ASSET MANAGEMENT - 202
OBJECTIVE: To familiarize the student with the principles and practice of Risk-Return
analysis, Asset and Portfolio Management.
UNIT-I: SECURITIES MANAGEMENT:
Money market securities – Bonds and debentures – Equity shares – Convertible
securities – Primary market – secondary market – Market Indexes – Construction of an
Index – Arbitrage.
Assets Security Management – Investment Assets (Treasury Management, Bond
Management) - Funded assets – Loan and advances - Non-funded assets – Customer
acceptance and obligations.
UNIT-II: EQUITY AND BOND VALUATION:
Fundamental analysis – Capitalizing earnings – Price – Earnings (PE) Ratio –
Economy, Industry and firm – Charting and technical analysis – Market Interest rates –
Yield spreads – Yield to maturity – Yield curve – Interest rate swaps and bond swaps –
spot Efficient Market Hypothesis (EMH).
UNIT–III: RISK-RETURN RELATIONSHIP:
Risk management - Risk of Securities - Systematic Risk - Interest Rate Risk - Market
Risk – Purchasing Power Risk - Unsystematic Risk - Business Risk - Financial Risk –
Efficient Market Theory.
Measurement of Risk and Return - Expected Return - Standard Deviation and Variance
of Securities (Including simple problems).
UNIT-IV: PORTFOLIO MANAGEMENT:
Diversification - Portfolio Analysis - Traditional Vs Modern - Rationale of Diversification
- Asset allocation and Portfolio design - Markowitz Diversification - Effect of Combining
two securities - Measurement of Expected Return of Portfolio - Portfolio Risk – Capital
Assets Pricing Model (CAPM) (including simple Problems).
UNIT –V: DERIVATIVES:
Futures and Options – Index Futures – puts and calls – Applications of derivatives –
Hedging and speculation (Theory only).
SUGGESTING READINGS:
1. A Guide to Indian Capital Market - Agarwal, New Delhi.
2. Risk Management and Derivatives – Stulz, Thomson 2007.
3. Indian Capital Markets – Avadhani, Himalaya Publishing House.
4. Investment Analysis and Portfolio Management – Reilly, Thomson.
5. Portfolio Management – Devin, PHI.
6. Investment – Mayo, 7e , Thomson.
7. Fundamentals of Investments - Alexander & Sharpe, PHI.
8. Investments – Gangadhar.
9. Working of Stock Exchanges in India – Machiraju, New Age.
10. Strong: Derivatives: An Introduction, Thomson.
11. Investment Management - Preeti Singh, Himalaya Publications.
12. Investment Management - Bhalla, S. Chand & Company.
13. Futures and Options in Risk Management – Whatsham, Thomson.
9
MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
FINANCIAL INSTITUTIONS AND MARKETS - 203
OBJECTIVES: To provide the students with an exposure and thorough understanding of Financial
Institutions and Markets and its components. The focus is given m ore on the Stock market
operations, regulatory provisions, financial institutions and markets.
UNIT-I: INTRODUCTION:
Financial Institutions - Meaning - Characteristics - Broad Categories - Money market institutions Capital market institutions - Indian Financial institutions - Financial Markets - Meaning - Definition Role - Functions - Constituents - Financial Instruments - Capital Market Instruments - Indian Money
and Capital Markets – Global Financial Markets.
UNIT-II: SEBI AND REGULATIONS OF PRIMARY AND SECONDARY MARKETS:
Securities and Exchange Board of India (SEBI) - Primary Market - Regulations of Public Issues Guidelines for Debentures - Issue of Shares - Underwriting - Employee Stock Option Scheme - Issue
of Shares through OTC exchange of India - Book Building - Secondary Market - Registration of
Members of Stock Exchange - Stockbrokers and Sub-brokers Regulations - Prohibition of Fraudulent
and Unfair Trade Practices - Monitoring of Price Manipulation - Surveillance and Enforcement Insider Trading.
UNIT-III: MONEY MARKET AND CAPITAL MARKET:
Money Market - Meaning - Characteristics - Objectives - Importance - Functions - Segments Financial Institutions - Money market and Capital Market - Global Money Market - Call Money Market
- Meaning - Features - Benefits - Indian Call money market - nature of dealings - Participants Modes of operation - Call money market rates - Commercial Bill Market - Meaning - Features Satellite Dealers - Capital market - Meaning - Indian Capital Market - New Financial Instruments Capital Market Doldrums - Harshad Factor - Measures of Rejuvenation - Recent initiatives in the
Indian Capital Market.
UNIT-IV: CLEARING, CREDIT RATING & TRADING INSTITUTIONS:
Clearing Corporation of India Limited (CCIL) - Settlement risks - Settlement method – risk
management system - Managing specific risk - Benefits - Modern technology - Outlook for the future Credit Rating and Information Services of India limited ('CRISIL) - Range of Services - Strategic
Alliance - Strengths - Achievements - Discount and Finance House of India Limited (DFHIL) Financial resources - Objectives - Operations - Achievements - Challenges ahead.
Investment Information and Credit Rating Agency of India Limited (ICRA) - Genesis - Range of
Services - Corporate Governance Rating services - Mutual funds rating - Corporate review Achievements - Securities Trading Corporation of India Limited (STCI) - RBI Support - Current
Activities - Money Market - Money Market Instruments.
UNIT-V: CAPITAL MARKET INSTRUMENTS, DEPOSITORY SYSTEM & INTERNET STOCK TRADING:
Capital Market Instruments - Preference shares - Equity shares - non-voting equity shares Convertible cumulative preference shares - Company fixed deposits - Warrants - Debentures and
Bonds - Global debt instruments - Capital Market reforms - General Capital Market reforms - Primary
market reforms - Secondary market reforms.
Depository system - National Securities Depository Limited (NSDL) - Promoters - Objectives Benefits of depository system.
Internet Stock Trading - Meaning - Features - Current Scenario - Internet Trading alternatives Regulating internet stock trading - IPOs on the internet - Indian experience.
SUGGESTED READINGS:
1. Indian Financial System - Machiraju, H.R, Vikas Publishing House Pvt. Ltd.
2. Financial Markets and Institutions - Gursamy S, Thomson (2004).
3. Indian Financial System - Vasant Desai, Himalaya Publishing House.
4. Financial Services and System - Gurusamy S. Thomson.
5. Financial Institution and Markets – Madura, Thomson 2007.
6. Financial Services - M.Y.Khan.
7. Investment Management - Preeti Singh, Himalaya Publishing House.
10
MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
IT & E-COMMERCE - 204
OBJECTIVES: To make students know and learn about Information Technology through its
applications and acquaint with the technology implementation in Banking and systematic progress of ECommerce.
UNIT-I: INTRODUCTION TO INFORMATION TECHNOLOGY:
Data - Information and knowledge and IT - Changing decision-making scenario - Quality of information IT Applications in various sectors - such as Banking - Insurance - Finance - Health care - Medical field –
education - Transport - traffic - Manufacturing and retail and distribution.
UNIT-II: DATA ACQUITSITION AND ORGANISATION:
Acquisition of Textual Data - Acquisition of Pictures-Storage Formats for Pictures, Image Compression
Fundamentals, Image Acquisition with Digital Camera, Exercises, Acquisition of Audio Data - Basics of
Audio Signals and their acquisition and their storage - Compression of Audio Signals – Exercises Acquisition of Video-Capturing a moving image with a Video Camera - Compression of Video data MPEG Compression – Exercises - Procession Multimedia - Data-Graphics Processing - Audio Signal
Processing - Exercises.
UNIT-III: MS OFFICE PROGRAMMES (Word, Excel, Access and Power Point):
Importance of MS Office - MS Word-Parts of window – Mouse - Mouse operations - Key board
operation - Important key - Formatting features - Toolbars and their icons - Creating a
document/Template - Mail merge - Macros-Exercises - MS Excel Entering and Editing text - Entering
formula - Centering across cells - Entering date – Menus - commands - toolbars and their icons Currency format - Data sorting - Data filters Functions – Round - SQRT - Average Max - Min COUNT - SUM – IF – SUMIF – ABS – CELL - TODAY - FINANCE FUNCTIONS – SLN - SYD – PV –
NPV - IRR - IPMT - FV DB DDB - VDB - CUMPRINC – CUMIPMT – AMORDEGRC - Exercises MS Power point-Uses - Toolbars and their icons & commands – Navigating - Preparing a presentation
- content Wizard - Exercises.
UNIT-1V: E- COMMERCE, INTERNET AND E-BANKING:
Introduction - Concept of E-commerce - Elements of E-Commerce - Impact of Internet on e-commerce e-commerce in Indian Scenario - Economic Potential of e-commerce e-commerce concerns & M
Commerce.
Implementing E-Commerce - Creating an E-Commerce Website - E-Commerce Implementation Technology - Constraints in implementation of E-Commerce - ECommerce - Distinct Advantages &
Business Models of E-Commerce.
Introduction to Internet - Growth of Internet - Internet-Gateway to Digital World - Internet Governance World Wide Web - Dynamics of Internet Banking - Internet Banking-A critics Viewpoint - Intranet Portal Intranet Portals - A new way to Bank - E-Sourcing – E-Trading - Net Telephony - Advertisement and
Marketing through Internet - M-Banking - Data Warehousing and Data Mining.
UNIT-V: NET WORK AND INFRASTRUCTURE FOR E-PAYMENT SYSTEMS, E-CHEQUES, EPAYMENT CHANNELS AND SECURITY:
Basic Networking Infrastructure - Networking Standards - Electronic Payment Gateways - Additional
Requirements for E-Commerce - Web Technology Products.
Banking Network in online Commerce - Electronic Cheques - Electronic Cash - Electronic Credit Electronic Purse - Smart Cards – SWIFT - ECS, etc., - Designing Electronic Payments and Settlement
Systems and Operational Risks and Legal Issues.
Security concerns of E-Banking - Encryption Techniques and Digital Signatures - Public Key
Infrastructure - Digital Copyrights and Electronic Commerce - Firewalls and Network Security - Secure
Socket Layer and Secure Electronic Transaction.
LAB WORK: MS Office - MS Word, MS Excel, Power Point; Applications under MS Excel and
Access; Acquisition of data- Textual, Audio and Video.
SUGGESTED READINGS:
1. Management Information Systems – Effy Oz, 5e, Thomson 2007
2. Introduction to Information Technology – V. Rajaraman, Prentice Hall of India Pvt. Ltd.
3. A first course in Computers – Sanjay Saxena, Vikas Publishing House.
4. Understanding Computers – Morely, Thomson 2007.
5. MIS, Oragnaisation and Technology – Laudon & Laudon, MC Grawhill.
6. Principles of Information Systems – Stairs, 8e, 2007.
7. Electronic Commerce – Schneider, Thomson 2007.
11
MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
FINANCIAL SERVICES - 205
OBJECTIVES: To acquaint the student with Innovative financial services offered to met the
varied requirement of both the corporate and individual customers.
UNIT-I: AN OVERVIEW OF FINANCIAL SERVICES:
Financial Services: Meaning – Classifications – Traditional Activities – Financial sector reforms
and Financial Innovations in India – Banking and Non-Banking services.
Financial products and services: Merchant Banking - Loan Syndication – Leasing - Mutual
Funds factoring – Forfeiting - Venture capital - Custodial services - Corporate - Advisory
services - Depository services – Securitization - Under-writing services ( Banks and Insurance) banking services – Bank assurance services - Credit rating - Credit cards - Derivatives Mergers
- Acquisitions and Amalgamation – Services in Forex Market - Lines of Credit – Innovative
Finance Instruments – Micro Credit Finance – Importance and different products/schemes –
Challenges facing the financial services sector.
UNIT-II: LEASE, HIRE PURCHASE AND HOUSING FINANCE:
Leasing – Financial lease and Operating lease – Differences between Lease and Hire purchase
– Types of financial leasing – Advantages of leasing – Consideration under lease Vs. Buy
decision-leasing in India – Problems of Leasing companies – RBI guidelines on leasing and
finance companies.
Hire Purchase – Terms of the agreement under hire purchase – types of hire purchase –
Advantages.
Housing Finance – Housing Finance policy and Role of National Housing Bank (NHB) –
Housing and Urban Development corporation (HUDCO) – Role of Housing Finance
Corporations and the housing schemes – Recent Developments.
UNIT-III: MUTUAL FUNDS:
Mutual fund – fund unit Vs. Equity share – Importance of Mutual funds – Types of Mutual funds main features of the close ended funds – Open ended funds Income funds Growth funds –
Risks involved – Organization of firm – Facilities available to investors – guideline from the
government of India – Recent reforms in mutual funds – Banks providing MF services – Factors
to be considered in selection of fund – reasons for commercial banks to offer mutual funds –
Scenario of Mutual funds in India – Problems in future prospects.
UNIT-IV: DISCOUNTING FACTORING AND FORFEITING:
Discounting factoring – Modus Operandi of factoring scheme – Terms and conditions in
factoring agreement – function of factoring services - Types of factoring – Role of Banks in
providing discounting, factoring and forfeiting services , Cost of factoring and pricing of factoring
services – Benefit to the clients – Export factoring – Edifactoring - Forfeiting – factoring Vs.
Forfeiting – Advantages and limitations of forfeiting – Forfeiting in India.
UNIT-V: SECURITISATION OF DEBT:
Meaning and Concept of Securitization – Structured securities Vs. Conventional Securities –
Securitization Vs. Factoring – Operational mechanism of securitization – Types of securitized
assets – Securitization and Role of Banks – Advantages and limitation of securitization – Future
prospects of securitization.
SUGGESTED READINGS:
1.
2.
3.
4.
5.
6.
7.
Financial Markets and Services – Gordon, 2e Himalaya 2003.
Financial Services and Markets – Gurusamy, Thomson 2005.
Financial Systems and Services, Thomson.
Marketing of Financial Services – Avadhani, Himalaya 2004.
Financial Institution & Markets – Madura, Thomson 2007.
Financial Markets and Services – Pathak, Pearson 2005.
International Trade and Finance –Akbar Ali Khan & Sudershan, HPH 2006.
12
MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
SEMESTER - III
QUANTITATIVE TECHNIQUES FOR BUSINESS DECISIONS - 301
OBJECTIVE: To impart inferential skills to the student by using quantitative Techniques for business
decisions.
UNIT-I: STATISTICAL ESTIMATION AND HYPOTHESIS TESTING:
Introduction to Hypothesis testing - Meaning of Population - sample and sampling distribution parameters and statistics - Central limit theorem - Concept of Standard Error - Confidential limits Estimation of population parameters - properties of a good estimator - Point and interval estimation Hypothesis Formulation and testing procedure - Type I and Type II errors - one tail and two tail tests
(Theory only) Sampling of Attributes - Estimation and testing Number and Proportions of Successes Difference between two proportions (including problems).
UNIT-II: SAMPLING OF VARIABLES:
Large Samples: Difference between large and small samples - Estimating population mean - testing the
significance of Mean - Significance of the difference between means of two samples - Significance
between the standard deviations of two samples (Including problems).
Small samples: 't' test - fixing fiducial limits to population mean - testing the significance of the mean testing the significance of the difference between two independent means - testing the significance of the
difference between two dependent means (Including problems).
UNIT-III: ANALYSIS OF VARIANCE AND STATISTICAL QUALITY CONTROL:
F test: meaning - Applications of F test - ANOVA - Assumptions - Procedure - one way and two-way
analysis of variance (including problems).
Statistical Quality Control (SQC): Introduction - Chance and Assignable Causes of Variation Uses of SQC
- Process Control and Product Control- Control Charts - Control Charts for Variables - X Chart - Range
chart - Standard deviation chart - Control charts for attributes - C chart - P chart - NP chart.
UNIT-IV: NON - PARAMETRIC TESTS:
Association of Attributes - Meaning – Distinction between Correlation and Association – Methods of
Studying Association – Interpretation of Results.
Meaning and application of Non-parametric Tests: Chi Square Test: Definition – Conditions for Appling
Chi Square Test – Yates’s Correction – Uses and Limitations of Chi Square Test – Chi Square Test for
Testing the Independence of Attributes – Chi Square Test for Goodness of fit ( Including Problems).
One Sample Tests: Kolmogorov-Smirov One Sample Test – Runs Test for Randomness One Sample
Sign Test.
Two Sample Tests: The sign test Mann-Whitney - U Test and Wilcoxon Matched –Paired Signed Rank
Test.
K Sample Tests: Median Test and Krusdkal – Wallis Test.
UNIT-V: LINEAR PROGRAMMING:
Linear Programming: Meaning - Requirements for application of linear programming - assumptions
advantages - application of LP - Formulation of LP problems (including simple problems).
Graphical solutions of Linear Programming problems with two variables only (including simple problems).
SUGGESTED READINGS:
1. Quantitative Approaches in Management – Levin and Rubin, Pearson Education / PHI.
2. Fundamental of Statistic – S.C.Gupta, Himalaya Publishing House.
3. Quantitative Methods for Business Decision – Anderson, 8e Thomson.
4. Quantitative Analysis for Management – 1.Barry, 2. Ralph M. Stair Jr., 3. Michael E. Hanna, 9e PHI.
5. Quantitative Techniques for Decision Making (Introduction to Management Science) – Anderson,
6. Quantitative Methods and Operational Research – G. Gopikuttan, Himalaya Publishing House.
7. Statistics – D.C Sancheti & V.K. Kapoor, Sultan Chand & Sons.
8. Quantitative Techniques for Decision Making – Anand Sharma, Himalaya Publishing House.
9. Introduction to Probability and Statistics – Mendenhall, 12e, Thomson.
10. Quantitative Techniques for Managerial Decisions – Shenoy.G.V, New Age.
13
MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
PROJECT MANAGEMNET – 302
OBJECTIVES: To enable the students to gain basic knowledge about the concept, life-cycle, appraisal,
preparation stages and costs - benefits determination and financing, monitoring and implementation
techniques of project management.
UNIT-I: BASICS OF PROJECT MANAGEMENT:
Concept of Project Management - Project environment - Types of Projects - Project life cycle - Project
proposals - Monitoring project progress - Project appraisal and Project selection - Causes of delay in
Project commissioning (External causes and Internal constraints) - Remedies to avoid overruns Strategic Issues and variables involved in Project identification and its commissioning.
Introduction to Use of Software in project management - Software development Process - Selection of
software packages for Project management.
UNIT-II: PROJECT IDENTIFICATION AND FEASIBILITY:
Identification of Investment opportunities - Sources of new project ideas - preliminary screening of
projects - Feasibility studies and reports - Stages of Project feasibility study - Components for project
feasibility studies - Broad aspects of appraisal - Market feasibility (Market survey - Categories of Market
survey - steps involved in conducting market survey - Demand forecasting techniques, sales projections) Technical feasibility (Production technology, materials and inputs, plant capacity, site selection, plant
layout, site preparation, civil works and structures, details of machines and equipment, specifications and
cost determination) - Operational feasibility (Heads of cost, estimates of cost of production, Breakeven
point, economics of working) - Managerial Feasibility Project organization and responsibilities.
UNIT-III: FINANCIAL ANALYSIS:
Capital Expenditure - Criteria and Investment strategies - Capital Investment Appraisal Techniques (Non
DCF and DCF) - risk analysis.
Cost and financial feasibility - Cost of project and means of financing - Project Life Cycle Costing (LCC) Objectives and significance of LCC - Estimation of cash flows - Estimation of Capital costs and operating
costs - Revenue estimation – Income determinants - Forecasting income - Preparation of detailed
financial projections - Use and preparation of CMA Reporting Formats - Bank appraisal of the Project
finance - Submission of statement - Periodical follow up - Terms and conditions.
Project cost reduction methods (Value engineering, TQM, Standardization, Project Inventory, SubContracting, Judicious Time Management, Maintainability and Others).
UNIT-IV: PROJECT MONITORING AND CONTROL:
Network Concept (Concept of event, activity, ladders, numbering of events) - Objectives of network Rules for drawing a network - Advantages of network planning/scheduling - Development of
Programme Evaluation & Review Technique (PERT) - Benefits of PERT - Assumptions in PERT
modeling - Construction of PERT (Project duration and valuation, slack and critical activities , critical
path interpretation) - Critical Path Method (CPM) - Difference between PERT and CPM - Assumptions
in CPM modeling - Aspects of Time - Cost Trade-offs - Effective Project cost control - Resource
Planning - Resource allocation and control.
UNIT-V: LEGAL ASPECTS OF PROJECT MANAGEMENT:
Legalities - Basic legal provisions - Agency and Power of Attorney - Sale of Goods Act - Central Sales
Tax - Transfer of Title - Negotiable Instruments - Bailment - Indemnity - Excise duty - VAT.
Letter of Credit - Bill of Lading - Mode of transportation - Carriage of Goods and the provisions thereof.
Insurance for projects - Important risks in projects and relevant insurance policies.
(Note: Financial appraisal techniques of Non-DCF and DCF are covered in the subject Financial
Management. They will not be taught in this paper. Similarly, market survey and steps involved in
conducting market survey are covered in marketing management subject. They will not be taught in
detail in this paper.)
SUGGESTED READINGS:
1.
2.
3.
4.
5.
6.
7.
8.
Effective Project Management – Gido, 2e, Thomson 2007
Project, Planning, Analysis, Selection, Financing, Implementation and Review – Prasanna Chandra, TMH
Corporate Finance – Damodaran, Johy Wiley Publication.
Principles of Corporate Finance – Erhardt & Brigham, Thomson 2006.
Project Evaluation and Management – Singh M.K.
Principles and practice of Cost Accounting- Prasad, N.K.
Project Financing - Pahwa, HPS
Project Management, the Managerial Emphasis: Clifford,F.Gray, Erik W.Larson:, McGraw Hill-2000.
14
MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
MARKETING OF FINANCIAL SERVICES - 303
OBJECTIVES: To acquaint the students about the marketing mix of Banking and Insurance
services and strategies for marketing of Banking and insurance services.
UNIT-I: SERVICES - AN OVERVIEW:
Services - Importance of service marketing - Services marketing environment (Political, legal,
economic, social, cultural, technological and others) - Reasons for the growth of service
sector - Differences between goods and services and their classification - Trends in the
development of services in the Post reforms period.
UNIT-II: CONSUMER BEHAVIOUR AND MEASURING THE QUALITY OF SERVICES:
Consumer Buying Process - Segmentation - Target market selection - Position services Services marketing mix (Product, Price, Promotion, Place, Channels of distribution, Process,
people).
Service Quality dimensions – Strategies of to deal with service quality dimensions - Internal
marketing - definition - aspects - approaches - value and practices - External Marketing Interactive marketing - introduction - design - development – methods - Relationship
marketing - definition - application - customer relationship - Usage of technology in services
marketing.
UNIT-III: MARKETING OF FINANCIAL SERVICES :
Introduction to Marketing of Financial Services - New Challenges - Special features of service
marketing - Basic bricks for marketing strategies - Marketing services in banking field Marketing services in Mutual Funds - Marketing services in Insurance - Need for meeting
global competition - Customer Satisfaction.
UNIT-IV: MARKETING OF BANKING SERVICES:
Introduction - Marketing of Banking services - Marketing mix of Banking services (Product,
Product Development, Promotion, Pricing, Place or Distribution Channels, Process, People) Insurance based product marketing - Corporate segmentation marketing - Retail marketing Internet marketing - Consumer oriented marketing - Ancillary services marketing.
UNIT-V: INSURANCE MARKETING:
Introduction to Insurance marketing - Marketing of Insurance Products - Direct Marketing Salesmanship in Insurance - Marketing mix of Insurance - Intermediaries and distribution
channels – Bank assurance – Bank assurance schemes / products - The Marketing mix of
insurance services (Product, Product Development, Promotion, Pricing, Place or Distribution
Channels, Process, People) - Client servicing in Marketing - Critical success factors for
Insurance Marketing - Marketing strategies of Insurance Players in India - Marketing strategies
of prominent Insurance players.
SUGGESTED READINGS:
1.
2.
3.
4.
5.
6.
7.
8.
Service Marketing Concepts, Applications and cases – M.K. Rampal, S.L. Gupta (2002), Galgotia
Service Marketing – Hoffman, 3e, Thomson 2007.
Financial Services (Text, Cases and Strategies) – Mohan Rao, R.L. Hyderabad, Deep and Deep
Financial Services and Markets – Gurusamy, Thomson 2005.
Marketing Life Insurance – J. Owen Stalson, Mc Cahan Foundation Publications.
VA: Marketing of Financial Services – Avadhani, Himalaya Publishing House.
Course material of Institute of Banking and Insurance Institute of India.
Financial Services – M.Y. Khan.
*****
15
MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
SEMESTER - IV
TAX PLANNING AND AUDIT CONTROL - 401
OBJECTIVE: To acquaint the student with theoretical and practical knowledge of Tax
Planning and Auditing techniques.
UNIT-I: INTRODUCTION TO TAX PLANNING:
Nature of tax - Essential components in levy of tax - Legal principles of taxation laws
- Five basic Rules of interpretation of statutes - Law Lexicon and Legal Maxims Concepts of Tax Avoidance - Tax Evasion - Tax planning and Tax management
(Only Theory).
UNIT-II: TAX PLANNING - INDIVIDUALS:
Planning with reference to all five heads of Income for Individuals - Salaries, House
Property, Profits from Business & Profession, capital gains and other sources
(Theory and Simple Problems).
UNIT-III: TAX MANAGEMENT DECISIONS:
Tax considerations arising with regard to specific management decisions, such as
make/buy, own/lease, export/local sale, shut down/continue, Expand or Contract,
Merger and Amalgamations and New Capital Investment - Guidelines to Tax
planning - Relief's - Concessions - Rebates - Deductions - Incentives Payment of
Advance Tax - Filing of Returns - Refunds - Penalties for non-compliance, (Problems
on tax planning with reference to tax liability of Firms and Companies should be
worked out) (Theory and Simple Problems).
UNIT-IV: AUDITING:
Meaning - definition - Objectives - Types of audit - Internal audit - statutory audit Government audit - Balance sheet audit - Periodical audit - Position of an auditor in
case of fraud - Generally accepted audit in practices with special reference to Banks
and Insurance - advantages and limitations of audit – Person - qualities of an
auditors.
UNIT-V: AUDIT PLANNING AND CONTROL:
Determining the scope of audit - Audit programme and planning - Internal control meaning - importance Internal check - Internal audit - Vouching of cash transactions
and trading transactions - Verification an valuation of assets and liabilities - Audit of
sole trader and partnership firms.
Auditing Procedure in Banks - Auditing Procedure in Insurance.
SUGGESTED READINGS:
1. Taxmann’s Indirect Tax Lawa – Vinod K. Singhania.
2. Direct Tax Laws and Practices Reading Material – Bhagawathi Prasad, Published by ICAI.
3. Indirect Taxes – V.S. Datey, Taxmann Publications.
4. Contemporary Auditing – Kamal Gupta.
5. Auditing – N.D. Kapoor.
6. Practical Auditing – T.N. Tandon.
7. Principles and Practices of Auditing – Jagdish Prakash.
8. Course material of Insurance Institute of India and Institute of Banking in India.
16
MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
INTERNATIONAL FINANCE - 402
OBJECTIVE: To acquaint the student with International Finance environment, channels of
International financial flows, different sources of international financing, exchange rate exposure
& risk, currency futures and option markets, modes and methods of foreign trade financing.
UNIT-I: AN OVERVIEW OF INTERNATIONAL FINANCIAL MANAGEMENT AND FOREIGN
EXCHANGE RATE MECHANISM:
Need – Meaning - Nature and scope of International Finance – International Financial
Management – International Finance Vs Domestic Finance (Theory Only).
Foreign Exchange Rate Mechanism - Exchange rate quotations – Determination of exchange
rate in the spot market – exchange rate determination in forward market – Factors influencing
Exchange rate (Including Problems).
UNIT-II: CURRENCY FUTURES AND OPTION MARKET:
Introduction to derivatives market – Types of financial derivatives – Distinctive features of
derivatives market – Traders in derivatives market – Currency futures – Future contracts Vs.
Forward contracts – Pricing futures – Futures trading strategies (Hedging, speculative trading
and arbitrage strategies) – Currency options – Salient features and types of options – Futures
Vs. Options – Pricing options ( Black Scholes option Pricing Model) – Opting trading strategies –
Derivatives trading in India (Theory Only).
UNIT-III: FOREIGN EXCHANGE EXPOSURE AND RISK:
Nature of exposure and risk – Exchange rate and interest rate volatility – Foreign exchange and
risk – Classification of foreign exposure and risk – Transaction exposure – Operating exposure
– Accounting treatment – Management of foreign exchange exposure risk through hedging
(Including Problems).
UNIT-IV: INTERNATIONAL FINANCIAL INSTRUMENTS:
Channels of International Flow of funds – Euro currency market – Euro credit – Euro Bonds –
Types of Euro Bonds – Euro currency deposits – Certificate of deposits and other instruments –
Euro notes – Types of notes – Euro issues – Foreign Currency Convertible Bonds – Depository
Receipts – Global Depository Receipt (GDR’s) – GDR issue mechanism – American Depository
(Theory only).
UNIT-V: FINANCING OF FOREIGN TRADE:
Introduction to foreign Trade financing – Export financing – Pre-shipment and Post-Shipment
finance – Documentation formalities and procedures for the grant of packing credit –
Documentation formalities and procedure for the grant of Post-Shipment finance – Modes and
sources of import finance – Methods of payment – Role of Letter of Credit in import finance
(Theory only).
SUGGESTED READINGS:
1.
2.
3.
4.
5.
6.
7.
Multinational Financial Management – Shapiro, PHI.
International Corporate Finance – Madura, 8e, Thomson 2007.
International Financial Management – Sharan, PHI.
International Finance – Clark, 2e, Thomson 2006.
Indian Financial Management – Bharati V Pathak, Pearson.
Foreign Trade Finance and Risk Management – Jeevanandam, Sultan Chand.
International Finance – Avadhani, Himalaya Publishing House.
17
MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
ELECTIVE: BANKING
SEMESTER- III
BANKING PRINCIPLES – 304 (BAN)
OBJECTIVE: To provide basic knowledge on Banking systems and functions and to
help in understanding all aspects of banking the course in designed.
UNIT-I: INDIAN FINANCIAL SYSTEM:
Structure and Characteristics of Banking and Financial Systems - Classification of
Banks - Role and Functions of Commercial Banks in India - Regulatory
provisions/enactments governing Banks - RBI major Functions - Development Banks
and Financial Institutions in India - Indian Capital Markets and Regulatory Body Legislations.
Role and Functions of Mutual Funds - Insurance Companies - IRDA - Bank assurance Retail Banking - International Banking.
UNIT-II: FUNCTIOINS OF BANKS:
Relationship between Banker and Customer - obligations and rights KYC Norms Types of Constituents - Deposit Products - and other ancillary services - Types of Loan
Products and its features.
UNIT-III: NEGOTIABLE INSTRUMENTS ACT:
Payment and Collection of Cheques - Duties and Responsibilities of paying and
Collecting Banker - Endorsements and Crossings of Cheques - Bouncing of Cheques
and its implications - Banking Regulation Act Reserve Bank of India Act.
UNIT-IV: BANKING TECHNOLOGY:
Bank Mechanization - Core Banking Solutions - WAN and LAN systems - On Line
systems - Main Frame Networking Systems - Electronic Payment Systems - Cash
Dispensers - ATMs - Anywhere Anytime Banking – EFT - Plain Messages and
Current Trends in Information Technology.
UNIT-V: REFORMS IN BANKING SECTOR:
Social Banking - Nationalization of Banks - Branch Licensing - Liberalization Policies
- Adoption to International Standards - New Generation Banks - Committees
recommendations.
SUGESSTED READINGS:
1. Banking Theory Law and Practice – Sundharam and Varshney.
2. Indian Institute of Banking and Finance- Associate Examinations Syllabus.
3. Management of Banking – McDonald, Thomson 2007.
*****
18
MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
BANKING PRACTICES AND OPERATIONS – 305 (BAN)
OBJECTIVE: This course is aimed at providing bird's eye view of the different aspects
of bank practices and operations management. Indeed, a bank is a very important
engine of growth and its mismanagement can lead not only to economic disruptions but
have social repercussions. In the last decade or so, it has been seen that Banking has
increasingly become a knowledge oriented sector rather than a compliance-related
activity.
UNIT-I: FUND MANAGENT:
Managing the cost of Funds - Bank capital and Liquidity - Composition of Bank
Liabilities (Small and Large) - Calculating Transaction Cost and Cost of Funds Marginal Cost Analysis - Borrowings from Market - Risk based Capital Standards Capital Planning - Bank Capital Structure - Effect of Capital Requirements on Bank
Policies - Objectives of cash management - Legal Reserve Requirements - Managing
Float Money - Liquidity Planning and Measures of Liquidity.
UNIT-II: EXTENDING CREDIT TO CUST0MERS:
Credit Policy and Loan Characteristics - Credit process - Evaluating credit requests Credit analysis and Tools of assessment - Terms and Conditions - Evaluating Retail
Loans - Policy Guidelines - Consumer Credit Ratings - Loan Pricing - Types of
Securities and Charges creation thereon.
UNIT-III: RURAL FINANCING AND RURAL BANKING IN INDIA:
Understanding Rural psychology - Credit Delivery Mechanisms - Multi Agency Approach
- Rural Development Bank and other Credit lending institutions - Schemes for rural
lending and evaluation - Govt. Policies - Micro Finance and Self Help Groups and Mass
Banking - Inclusive Growth - Priorities and practices for Inclusive growth.
UNIT-IV: INTERNATIONAL TRADE & FINANCE:
Balance of Payments - Commercial Banks Role - Foreign Exchange Transactions and
Rates - Financing Foreign Trade - Forward Exchange Markets - Exchange Controls International Trade Terms and Agreements.
UNIT-V: MARKETING OF BANK PRODUCTS:
Marketing Management – Meaning - Importance and Functions - Marketing of Services
Planning - Product Research & Development-Testing - Product Life Cycle Modifications - New Product Development – Elimination – Branding – Pricing –
Objectives - Strategies and Methods - Factors influencing and Pricing Decisions
Distribution - Factors influencing - Direct & Indirect Channels - Channel Functions and
Services – Promotion - Promotion Mix and Role of Promotion in Marketing – MIS - Case
Studies on Certain Bank Products.
SUGESSTED READINGS:
1.
2.
3.
4.
Commercial Bank Management – Peter Rose, Irwin Mc Graw Hill.
Management of Banking – McDonald, Thomson 2007.
Asset-Liability Management – T. Ravi Kumar, ICFAI Publication.
Course material of Indian Institute of Banking.
19
MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
SEMESTER – IV
RISK MANAGEMENT IN BANKING – 403 (BAN)
OBJECTIVE: The fundamental objective of Banks is to minimize risk and maximize the
returns for improving the shareholders wealth and also focusing on sustained development.
The objective of this course is to expose the students to identify, assess, monitor and
control risks associated with the financial institutions, in particular Banks.
UNIT-I: ASSET LIABILITY MANAGEMENT (ALM):
Introduction – ALM – Meaning – Significance – Objectives - Analyzing Bank performance
using the Asset Liability Management Techniques – Components of Bank’s financial
Statements – Balance Sheet – Relationship between the Balance sheet and the Income
statements – Return on Equity – Banking Risks and Returns (Profitability, Liquidity,
Solvency, Trade-Off) – Credit Risk – CAMEL Ratings and Financial Statement Manipulation
– Asset Liability Management (ALM) implementation.
UNIT-II: ALTERNATIVE MODELS OF BANK PERFORMANCE:
A critique of Traditional GAAP – Basel Performance Measures – Line of Business
Profitability Analysis - Management of Market Risk and Non-interest Income and No Interest
Expenses - Peer Group Comparison – Total Operative Revenues – Stock Market Risk
Performance – Customer focused Performance.
UNIT-III: MANAGING INTEREST RATE RISKS:
Essentials of Interest Rate Risk – Sources of Interest Rate Risk – Determine of Interest
Rates – Effects of Interest Rate Risk – Measurement of Interest rate risk and the techniques
of interest rate risks measurement – Strategies for controlling interest rate risk – Controls
and supervision of interest rate risk Management – Sound interest rate risk management
practices - Pricing Fixed Income Securities – Features on Securities – GAAP and Earning
Sensitivity – Financial Features – Forward Rates and Agreements.
UNIT-IV: TREASURY MANAGEMENT:
Introduction to Treasury Management – Concepts and Functions – Instruments in the
Markets – Treasury Products – Treasury Risk Management – Controls and Supervision –
Derivative Products – Treasury and Asset-Liability Management.
UNIT-V: CAPITAL MANAGEMENT AND PROFIT PLANNING:
Prudential Norms – Capital Adequacy – Basel II – Asset Classification & Provision Norms –
Profit Planning – Effect of NPA on profitability – Shareholders Value Maximization and EVA
- Profit planning measures to improve performance - Risk Management Systems in Banks
in India - Systems introduced in India – Basel II Recommendations and RBI guidelines.
SUGGESTED READINGS:
1. Financial Risk Management – Dun & Bradstreet, Tata McGraw Hill Publishing
2. Bank Management – Koch Mac Donald – Thomson.
3. Risk Management (Risk Management (for CAIIB) - Indian Institute of Banking &
Finance, The Arcade, World Trade Centre, Cuffe Parade, Mumbai-400005.
4. Indian Banker Journals.
5. Indian Institute of Banking and Finance Reading Books.
20
MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
RURAL BANKING – 404 (BAN)
OBJECTIVE: To acquaint with the structure of rural economy and rural banking, rural
financing and its operations. To equip with necessary knowledge about the emergence and
the growth of micro-finance sector and build perspective.
UNIT-I: BASIC FRAMEWORK OF RURAL ECONOMY:
Rural economy in India - Form sector and economy - Agriculture production - Form technology
in India - Adoption of crop technology and harvest issues - agrarian reforms - Allied activities Review of policies and programmes - Five Year Plan priorities for Rural Development Committees of Government of India - National Policies - Economic reforms and the rural credit
financing.
UNIT-II: ROLE, STRUCTURE AND PERFORMANCE OF FINANCING INSTITUTIONS IN
RURAL AREAS:
Multi agency approach to rural credit - Multi agency Institutions - Role of rural credit
institutions - Cooperative and Commercial Banks finance for Agriculture and Rural
development - Regional Rural Banks - Principles guided by Apex Banks - NABARD Objectives - Functions - Schemes - Role of NABARD in Institutional support for Rural
Development - Techniques of lending in Agriculture - Role of Banks in implementing
Development Programmes - Issues - Problems.
UNIT-III: TECHNO-ECONOMIC-FINANCIAL FEASIBILITY OF RURAL SCHEMES OF
FINANCE:
Techno-Economic-Financial Feasibility of Few Schemes of Finance - Farm sector - Non-farm
sector - Rural Housing - Employment oriented programmes - Ancillary activities financing Agriculture Insurance - The need - Crop Insurance - National crop Insurance scheme Significance of cattle Insurance - Other Rural Insurance schemes.
UNIT-IV: MICRO-CREDIT FINANCE:
Emergency and growth of Micro-finance delivery at global level - Best practices of micro-credit
finance at global level - Emergency and growth of micro-finance sector in India - Best
practices of micro finance delivery in India - Regulatory and legal framework of micro finance
institutions - Micro-credit financing Institutions – Product (loan) designing of Micro-finance
Institutions and interest rate calculation - Emerging issues and challenges.
UNIT-V: SELF-HELP GROUPS (SHGS) AND MICRO-CREDIT FINANCE:
Self-Help Groups (SHGs) Evolution - Objectives - RBI Support Policy - Models of Linkage Credit records and information system for SHGs - Organization and development of SHGs
(Organizational development, group dynamics, team building, leadership, leadership and micro
dialogue communication skills at SHGs level) - Significance of Micro-credit finance for SHGs Procedure for loan documentation – disbursement - post-sanction supervision and follow up Key Issues - Comparative study, specially from third world countries.
SUGGESTED READINGS:
1. Rural Economy – Patel shah, Vimalo, HPH.
2. Rural Banking in India – U.C. Patnaik, R.N. Mishra, Anmol Publication, New Delhi.
3. How and Why of Rural Banks – Khemani and Dr.B. Yerram Raju.
4. Other publications: NABARD publications, Bank Journals, IIB Journals, Yojana.
5. Micro finance needs and concepts – Karmakar, K.G., Rural credit and self help groups,
Sage publications India pvt. Ltd.
6. Financial Services for rural poor in India - Mahajan, Vijay and Bharti Gupta Ramola, Access
and sustainability (Journal of International Development), 8(2), pp.211-224.
7. www.microjournal.com, www.microfinance.com, www.mfc.oW.pl, www.gdrc.org/icm.
21
MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
ELECTIVE: INSURANCE
SEMESTER- III
PRINCIPLES OF INSURANCE – 304 (INS)
OBJECTIVE: To introduce the basic principles of insurance. It provides the
understanding of concepts, conventions and principles of Insurance. It enables the
student to understand the Insurance business in general.
UNIT-I:
The concept of risk - Kinds and classification of risks - Assessment – Transfer - The
concept of Insurance - Classification of Insurance - Types of Life Insurance - Pure
and Terms - Types of General Insurance, Fire, Marine, Motor, Engineering, Aviation
and Agricultural - Insurance of Property, pecuniary interest, liability and person.
UNIT-II:
Basic principles of Insurance - Utmost Good faith - Insurable Interest - Material facts
- Indemnity - Proximate Cause.
Economic principles of Insurance - Sharing - Subrogation – Contribution.
Role of Insurance in the national economy - Current marketing structure and internal
markets.
UNIT-III:
Legal principles of Insurance - The Indian Contract Act 1872 - Insurance Interest Nomination and assignment - Utmost good faith - Indemnity - Subrogation Contribution - Proximate Cause - Financial principles - Premium funds - Investments
- Reserves - Surplus - Valuation of surplus.
UNIT-IV:
Theory of rating - Actuarial principles - Mortality tables - Physical and moral hazard Representations - Warranties - Conditions.
UNIT-V:
Risk Appraisal - Risk selection – Underwriting.
Reinsurance - Introduction - Brief historical background - Nature and functions of reinsurance - Methods of reinsurance (Major forms: Facultative and Treaty, Facultative
reinsurance) - proportional - non-proportional (excess of loss) and Treaty
reinsurance.
SUGGESTED READINGS:
1. Course Material of Insurance Institute of India - Mumbai.
2. Principles of Insurance and Risk Management - Alka Mittal and S.L.Gupta, Sultan
Chand & Sons.
*****
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MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
MANAGEMENT OF LIFE INSURANCE PRODUCTS – 305 (INS)
Objective: To acquaint with the knowledge of insurance products/schemes/coverage
and practices and procedures in managing the life insurance coverage.
UNIT-I:
Life Insurance organization - Important activities - The distribution system - Appointment
of agent - Functions of agents - Remuneration to agents.
Plans of Life Insurance - Need levels - Basic elements - Some popular plans (Limited
payment plan, participating policies, convertible plans, joint life policies, Childrens'
plans, educational annuity plans, variable Insurance plans, riders for the Handicapped,
Miscellaneous).
Annuities - Nature of annuities - types.
UNIT-II:
Group Insurance - Nature of Group Insurance - Types - Group gratuity schemes - Ways
of meeting gratuity liability - Group super-annuation schemes - Other group schemes Social security schemes - Other special need plan - Industrial Life Insurance - Salary
saving schemes - Additional Benefits Married Women's Property Act.
UNIT-III:
Application and acceptance - Principle of good faith - Insurable Interest - Prospectus Proposal forms and other related documents - Medical examination - Age proof Special reports - Specimens of proposal - Medical report.
IRDA Regulations on Management of Life Insurance Services/products.
UNIT-IV:
Policy document and its need - Policy preamble - Schedule - attestation - conditions and
privileges - Alteration - Duplicate policy - Specimen of policy document.
Premium payment Lapse and revival procedure – Premium - surrender values - Nonforfeiture Options – Revival.
Assignment Nomination Loans – Surrenders - Foreclosure.
UNIT-V:
Policy Claims - Maturity Claims - Survival benefits - Death claims - Claim Concession Presumption of Death - Accident benefit and disability benefit - Post-maturity options Settlement options - Valuation and surplus.
Re-insurance - Exchange control regulations - Consumer protection Act - Ombudsman Information Technology.
SUGGESTED READINGS:
1. Insurance Institute of India (Course material).
2. Risk Management and Insurance - Treischmann, Thomson 2007.
3. Principles of Insurance and Risk Management - Alka Mittal and SL Gupta, Sultan
Chand & Sons.
*****
23
MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
SEMESTER - IV
RISK MANAGEMENT IN INSURANCE – 403 (INS)
Objective: To acquaint with the identification of risk, kinds and classification of risks
involved in insurance and its implications; and to acquaint with the risk management
policy, procedure, options and scope.
UNIT-I:
Introduction to risk management and Insurance - Risk and uncertainty - Risk
perceptions and reactions - Risk analysis and management - Risk Concepts - Types
of risks in Insurance - Kinds and classification of risks - Individual risk and the types
of individual risks - Operational risks - Financial risks - Strategic risks - Risk
Management - Subjective risk - Attitude risk - Acceptable risks versus unacceptable
risks - The cost of risks - Handling risks - Role of Insurance brokers in risk
management.
UNIT-II:
Risk management and corporate objectives - Risk management policy - Risk
management and functional management - The scope and objectives of risk management in corporate bodies - nationalized industries - local government and
public utilities - personal risk management.
UNIT-III:
Risk management steps - Risk management process - Risk management of liability
exposures - Risk management of Public liability exposures – Administration.
UNIT-IV:
Risk identification - Losses and causes of loses - Techniques of risk management Loss prevention - Loss retention - Loss control (loss prevention and loss reduction) Procedure - Insurance - Risk evaluation - Statistical methods and probability
concepts - Decision taking under conditions of risk and uncertainty - Risk avoidance
- Risk reduction and loss control - The Factories Act 1948 - Role of Insurance
surveyors in loss prevention - Mutual aid schemes.
UNIT-V:
Risk financing - Risk financing options - Risk retention - Risk transfer - Insurance Benefits and limitations - Partial insurances - Captive insurance companies.
SUGGESTED READINGS:
1. Insurance Institute of India (Course material and books).
2. Risk Management and Insurance – Treischmann, Thomson 2007.
3. Principles of Insurance and Risk Management – Alka Mittal, Sultan Chand & Sons.
4. Principles of Risk Management and Insurance – Rejda, George E (2001), 7th Edition,
Addison Wesley Longman, Inc. Boston.
*****
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MASTER OF FINANCE AND CONTROL
FACULTY OF COMMERCE, OU
MANAGEMENT OF GENERAL INSURANCE PRODUCCTS – 404 (INS)
OBJECTIVE: To acquaint the students with the knowledge of General Insurance Products /
Schemes / Coverages and the practices and procedures in managing the General Insurance
Coverages.
.
UNIT-I: INSURANCE LEGISLATION: The Insurance Act 1938 - General Insurance Business
(Nationalization) Act, 1972 - IRDA - Amendment of Insurance Act - The Insurance Amendment
Act, 2002 - Motor Vehicles Act, 1988 - The Inland Steam - Vessels (Amendment) Act, 1977 Marine Insurance Act, 1963 - The Carriage of Goods Act, by Sea Act 1925 - The Merchant
Shipping Act, 1958 - The Bill of Lading Act, 1855 -The Carriage by Air Act, 1972 - Workers'
Compensation Act, 1923 - Employees State Insurance Act, 1948 - Public Liability Insurance Act,
1991 - The Indian Stamp Act, 1899 - Marine Claims - Overseas Medical Insurance Reinsurance - Consumer Protection Act, 1986 - Insurance Ombudsman.
UNIT-II: INSURANCE MARKET: Corporate Agents - Broker - Function of Insurance Broker Tariff Advisory Committee - Insurance forms - Proposal of Insurance - Cover notes - Motor
Vehicles Act, 1988 - Motor Vehicle Coverage - Fire & Marine Policies and Coverage - Standard
policies - Reinstatement value policies - Declaration policy - Floating policy - Private Insurance
Companies - Insurance intermediaries in overseas market - Comparison between different
products offered by various insurers.
UNIT-III: POLICY DOCUMENT IN GENERAL INSURANCE: Policy document in General
Insurance - Need and format - Policy preamble - Schedule - Attestation - Conditions and
privileges - Alteration - Duplicate policy - Policy renewal procedure - Premium payment lapse
and revival - Assignment - Nomination loans - Surrenders - Foreclosure.
UNIT-IV: MISCELLANEOUS COVERAGES: Miscellaneous coverages - Group Policies Health Insurance - Mediclaim Insurance - Jan Arogya (Bima) Policy - Cancer Insurance Universal Health Insurance Policy - Overseas Medical Policy - Bhavishya Arogya Policy Burglary Insurance – Money Policy - Banker's Indemnity policy - Legal liability Insurance Personal Accident Insurance - Mediclaim Insurance package policies - Householders Insurance
- Shopkeepers Insurance - Property Insurance - Rural Insurance - Engineering Insurance
Coverages - Marine cargo and Hull Insurance - Baggage policy - Fidelity Guarantee Insurance Specialized Insurance - Oil & Gas Insurance - Satellite Insurance - Rating premium - Tariff
Rating - Physical & Moral Hazards - Underwriting of Moral Hazard - Premium - Agreement in the
policy - Declaration policy - Underwriting practice in India and other important Insurance market
Limit of acceptance - Risk Inspection - Insurer's role in risk management - IRDA Regulation2002.
UNIT-V: CLAIMS PROCEDURE: Claims procedure - Preliminary procedure - Investigation and
assessment - Role of Surveyors & Loss assessors - Claims documents - Arbitration - Limitation
- Settlement -Loss minimization and salvage - Practices in UK and USA - Investment and
accounting aspects - Unexpired risk reserves.
SUGESSTED READINGS:
1. Insurance Institute of India, Mumbai (Course material and books)
2. Alka Mittal, SL Gupta:Principles of Insurance and Risk Management
3. Luthardt, Constance M. et.al (1999): Property and liability insurance principles (3rd edition)
4. Bickelhaupt, D.L.(1983): General Insurance (llth edition), Richard D.Irwin
5. Huebner,S.S., K.Black and R.Cline (1982); Property and Liability insurance (3rd edition).
*****
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