SYLLABUS THREE-YEARS' PART-TIME MASTER'S DEGREE IN FINANCIAL SERVICES MANAGEMENT (MFSM1 FIRST YEAR - FIRST SEMESTER 1;1.

FOUNDATION COURSE (a) Basic Concepts-Wealth-Income-Price, National Income-Saving-Investment-National/ Income in IndiaDetermination of Price-Concept of Monopoly. Prices-Rent-lnterest-Profit-Wages- (Basic Concepts only)Social Responsibilities of Business Structure of Economy. ,, (b) Definition of Money-Value of Money-General Principles of Measurement and Determination of Value of Money-Inflation-Deflation-Commercial Bank and Credit-Central Bank and Control of Credit-International Agencies-Capital Market-Role of Savings. Taxation Direct and Indirect. 1. 2. 3. 4. 5. Reference Books: India-A Reference Volume, 6. Apple-by A-Modern Business Administration. Govt. of India, Five-Year Plans. 7. B.Ghosh-Economic Environment of Business. Cherunilam- Business Environment. 8. M. C. Vaish - Monetary Theory. Dagli Vadilal-Financial Institutions in India. 9. K. Chidambaram - Business Environment. Peter Drucker- Innovation and Entreprenuership. 10. M. C. Vaish - Macro Economic Theory.

1:2. ORGANISATIONAL BEHAVIOUR OBJECTIVE: Increasing managerial effectiveness through understanding of self & other. SYLLABUS: The Individual Personality-Personality and Behavior- Personality- Structure, ability and emotion - Personality and Environment- Perception, Learning, Interest. Attitudes and Values. Motives. Frustrations and ConflictAdjustment. Adaption and Integration of Personality Management of one to one relationship. 1. J.S. Chandan - Organizational Behavior. Reference Books 2. Green Berg - Organisational Behavior.

1:3. PRINCIPLES OF MANAGEMENT OBJECTIVE: Understanding the basic concepts of Management techniques with reference to the functions of Management. METHODOLOGY: Projects Assignment. Presentation, Continuous assessment. Defining clearly the scope and view of die paper is important: 1. Managerial functions and activities of Management. 2 Concepts and Practices 3. Application of the practice to all functional areas 4. Management concepts & practices and its application to Indian Environment. 5. Management as a Profession. 6. Evolution of Management thoughts. 1 2 J.S. Chandan Reference Books: (A) Management: Concept & Strategies. (B) Management Theory & Practice.

Geoffrey Moss - Managing for Tommorow.

1:4.FINANCIAL ACCOUNTING LEVEL OF KNOWLEDGE: BASIC 1. Financial Accounting Scope and Importance. 2. Understanding of the following items - Net worth-Reserves-Provisions-Intangible Assets-Fictitious Assets- Revaluation of fixed assets and its impact on financial statements. 3. Accounting Mechanics: Basic Records-Understanding of Transactions and related documents-Process leading to preparation of Trial Balance and Financial Statements. 4. Inventory Accounting: Perpetual and Periodic System Accounting and Physical Flow \foluation. 5. Fixed Assets and Depreciation Accounting. 6. Profit and Loss Account and Related Concepts. 7. Balance Sheet and Related Concepts. 8. Inflation Accounting. 9. Mandatory Accounting Standards. 10. Revenue Recognition and Measurement-Revenue Vs. Capital (Receipts and Expenditure). 11. Accounting Methods- Cash, Accrual, Hybrid 12. Overview of External and Internal Audit. 13. Corporate Financial Reporting in India. S. N. Maheshwari Reference Books: (A) Financial Accounting. (B) Corporate Accounting.

1.5. MANAGERIAL ECONOMICS 1 The Meaning, Scope and Methods of Managerial Economics. 2. Economics Concepts relevant to Business, Demand and Supply, Production, Distribution, Consumption and Consumption Function Cost, Price Competition, Monopoly, Profit, Optimisation, Margin and Average Elasticity, Macro and Micro Analysis. 3. Demand Analysis and Business Forecasting, Market Structures, Factors influencing Demand, Elasticities and Demand levels. Demand Analysis for various Products and Situations. Determinants of Demands. Durable and Non-Durable goods. Long run and short run Demand, Derived and Autonomous Demand, Industry and Firm Demand. 4. Cost and Production Analysis, Cost Concepts, Short term and Long term, Cost Output Relationship, Cost of Multiple Products, Economics of Scale, Production Functions, Cost Control, Cost and Profit Forecasting, Breakeven Analysis. 5. Market Analysis, Competition, Kinds of Competitive Situations. Oligopoly and Monopoly, Measuring Concentration of Economic Power. 6. Pricing Decisions, Policies and Practices, Pricing and Output Decisions under Perfect and Imperfect Competition, Obgopoly and Maropoly pricing Methods, Product-line pricing. Specific Pricing Problem, Price Dissemination, Price Forecasting. 7. Profit Management, Role of Profit in the Economy, Nature and Measurement of Profit, Profit Policies, Policies on Profit, Maximisation, Profits and Control, Profit Planning and Control. 8. Capital Budgeting, Demand for Capital, Supply of Capital, Capital Rationing, Cost of Capital, Appraising of Profitability of a Project, Risk and Uncertainty, Economics and Probability Analysis. 9. Macro Economics and Business, Business Cycle and Business Policies, Economic Indicators. Reference Books: 1. 2. D. N. Dwivedi - Managerial Economics. Mannur: International Management:

1.6. INTRODUCTION TO COMPUTERS 1. Introduction to Computer Terminology. 2. Centralised Data Processing System. Hardware: Type of Hardware (Configuration, Peripherals etc) Software: Systems Software (OS, such as DOS, NOVEL, UNIX, O/S Functions) Application Software, instead of Translators, Compilers, Interpreters' Hardware/Software generations and current trends 3. Various programming Languages such as Foxpro, C and their Characteristics. 4. Introduction to Electronic Spread Sheet and Data Base Management Systems, Word Processors. Graphic User Interfaces. 5. Introduction to Foxpro, Writing simple Foxpro programmes 6. Introduction to Relational Data Base Management Systems. 7. Introduction to Advanced Telecom Facilities. Reference Books: 1. 2. Leon & Leon - Computers for Everyone. Sanjay Saxena - A First course in computer 2000 Edition. FIRST YEAR FINANCIAL MANAGEMENT

SECOND SEMETER 2:1 1.

FINANCIAL OBJECTIVES: The ROI Concept in Financial Planning and Control c) Control of Working Capital. d) Accounts Receivables and Inventories.

2. WORKING CAPITAL MANAGEMENT : a) Assessing Working Capital Requirements. b) Financing Working Capital. 3. 4. 5.

CAPITAL EXPENDITURE PROJECTS: Discounted Cash Flow Techniques and its Application. Concept of the Company's Cost of Capital and its Application in Capital Budgeting Decisions SOURCES OF COMPANY FINANCE: Deposits from Public, Term. Loans, Bonds, Preference Capital, other modes and instruments of raising Finance. Financial Institutions in India. 6. NEGOTIATING TERMS LOANS PROPOSALS WITH BANKS: Appraisal of Term Loans by Financial Institutions in India. 7. INTERNAL FUNDS AS A SOURCE OF FINANCE: Dividend Policy and Rate of Retention - Bonus Shares. 8. EQUITY CAPITAL AS A SOURCE OF FINANCE: Rights Issue and Issue at Premium-Government Regulations of Issues of Securities in India - Prospectus for Issue of Securities - Understanding and Interpretation. 9. Basic Valuation Concepts. 10. Corporate Taxation and its Implications on Corporate Financing. 11. Inflation and its Impact on Corporate Finance 1. I.M. Pandey Reference Books: (A) Financial Management. (B) Capital Structure & Cost of Capital

2.2

MANAGEMENT ACCOUNTING ,

Costs and Management Decisions: Various cost concepts influencing short- run and long-run decisions viz. make or buy, sell or process further operation versus shut-down, rent or buy, lease or buy, pricing, product mix and other special decisions relating to inventory and marketing operations. (The role of contribution margin approach as a decision making tool will be demonstrate). Standard Costing and Variance Analysis. Budgeting: Budgeting for control - operations or functional budget: finance budgets, master budgets (budgeted income statement and balance sheet) fixed and flexible budgets, capital budgets, research and development budget, maintenance and repair budget; budgets, key factor; periodic and continuous budgeting, budgeting for return on investment. Break-even analysis and cost-profit-volume relationships, Nature and Scope of Management Control, Meaning of Effectiveness, Efficiency, Responsibility Centres, (Cost, Profit and Investment) Transfer Pricing Methods, Responsibility Budgeting An Overview of Management Control Systems. Reference Books: 1. 2. 3. I. M. Pandey - Management Accounting. M. A. Sahay - Management Accounting, Principals & Practice. Snnivas - Cash & Working Capital Management.

2:3. CORPORATE FINANCIAL POLICY Organisational Problems of (a) Finance Department (b) Finance Department vis-a-vis other functional areas. Perspective planning for working capital management- planning model or working capital management, financial forecasting. Capital budgeting/ Project appraisal: Economic, Technical and Financial feasibility studies-DCG-Risk evaluation and sensitivity analysis; computer simulation, risk evaluation-Measurement of cost of capital and determining minimum rate of return for project decisions-Social cost and social benefit analysis of projectLinear Programming and capital budgeting decisions-Financial Control and follow-up of projects evaluated under DCF techniques. Disinvestments as a financial strategy-exploring opportunities of disinvestments-areas of factors-factors influencing, factors decisions-financial analysis and its report for factors decisions. Expansion: Diversification Strategies: Market, Customer, Product and Process-Developing Conglomerates and Subsidiaries. Financial tax and government policies governing such decisions-mergers and amalgamations-determination of 'Fair Value' of Share-determining premium for shares-Issues of bonus shares and their Financial implications. Consideration governing setting-up venture abroad- Joint sector projects and investment decisions. Role of debt financing in Indian Environment. Developing optimal capitalisation structure. Corporate Planning and Break-even analysis with multiple constraints such as shortage of power and materials, customer and market constraint, export obligation, price control, production mix etc. - application of linear programming to breakeven concept. Basic concepts in International Financial Management-various aspects concerning foreign exchange transactions- International financial markets and institution-Euro-dollars market-Petro-dollar market. 2:4. QUANTITATIVE METHODS IN FINANCE Profit Planning and Budgeting: Break-Even Analysis and Linear Programming. Application of Curvi-Linear Break Even Analysis. Probabilities Profit Budgets. Cost Volume - Profit Analysis Under Conditions of Uncertainty. Budgeting with Network Analysis.

PERT - COST DISCOUNTING: The Time Value of Money : Discrete Compounding i) Compound Future Sums. ii) Future Amounts and their Present Values. iii) Constant Payment Annuities. iv) Compound Sums of Annuity.

v) Calculations for a series of Unequal Payments, vj) Annuities with growing payments, vii) The value additivity principle and NPV criterion viii) Multiple Compounding periods within one year.

The Time Value of Money: Continuous Compounding i) Compound Sums and Prevent Value, ii) Constant Payment Annuities Application of the above in following : i) Pricing of Bonds: a) Calculation of Price given company rate, face value, time to maturity and yield to maturity; b) Calculation of yield to maturity given remaining variables, ii) Pricing of Shares : a) With constant dividends. b) With growing dividends,

iii) Capital Budgeting: Finding Internal Rate of Return.

DIVERSIFICATION: Rate of Return and Risk: 1) Expected Rate of Return: Average of Past return series. ii) Risk: Standard deviation of past rates of return as relativity of the security. iii) Expected rate of return and risk of portfolio of two and three securities; establishing that diversification reduces risk. iv) Verbal explanation about elimination of unsystematic risk in diversified portfolio. Theory of Choice under Uncertainty: i) Utility Functions, ii) Types of Functions: Risk Aversion, Risk Preference and Risk Neutrality.

Investment Analysis Under Uncertainty: -Hentz and Miller Model. Reference Books: 1. 2. I. M. Pandey : Financial Management. Febbozi: Fixed Income Securities.

2:5. BUSINESS ENVIRONMENT OBJECTIVE: To understand the Business Scene & factors & Trend for Strategic Policy formulation TOPICS: Social, Political issues, Ecological issues. Business ethics. Social responsibility, Energy Management Fly. V. S. professional business. Industrial units. Joint Ventures Technology, Transfers. Multi National Corporation, Administrative Pricing, Business resources. Economic Trends.

1. 2.

Reference Books: B. Ghosh - Economic Environment of Business. Chidambaram: Business Environment.

2:6. EFFECTIVE COMMUNICATION 1. Process of Communication. 2. Communication in Organisation : Nature, function & scope. 3. Management of Written & Oral Communication. 4. Barriers to Effective Communication. 5. Report writing. 6. Communication technologies & its impact on office procedures and automation. 1. 2. Reference Books: R. K. Madhukar - Business Communication & Customer Relations. Sharu Rangnekar - In the world of Corporate Managers.

SECOND YEAR SECOND YEAR FIRST SEMESTER 3:1 BUSINESS LAW - I OBJECTIVE: To give exposure to the students to the objectives & broad framework of legislative, enactments within which business operate. CONTENTS: a. Indian Contract Act b. Sales of Goods Act c. Negotiable Instrument Act d. FEMA relevant provisions e. I.T. relevant provisions f. Sick Industrial Co. SP. Provision Act - 1986 BIFR g. Industries Dev. Reg. Act 1951

Reference Books: 1. FEMA and Exchange Manual of R.B.I. 2. Industries (Developments & Regulation) Act, 1951 with Rules. 3. M.C. Kuchhal - Mercantile Law / Business Law. 3:2 HUMAN RESOURCE MANAGEMENT OBJECTIVE: Understanding of Personnel Policies and Practices for effective utilisation of human resources. Syllabus: 1. Personnel Management-Its scope, relationship with other social sciences- inter-disciplinary approach. 2. Organisation of Personnel Functions - Personal Departments, its organisation, policies, responsibilities and place in the organisation. 3. Manpower planning. Job Analysis, Job Description, Job Specification, Recruitment and Selection, Induction, Training & Development, Carrier Planning, Promotion and transfer. 4. Wage and salary administration its objectives, philosophy and elements Remuneration of personnel-Job Evaluation-Employee Benefits and Services.

5. Industrial Relations - Role of Trade unions - Collective Bargaining - Conciliation - Adjudication -Arbitration - Strikes & lockouts - Discipline in Industry - Principle of Natural'Justice - Disciplinary Procedures, Grievance Procedure - Worker's participation in Management. 6. Introduction to Human Resource Development. 7. Labour Law and Practices. Objective - Broad understanding of policies, procedures. Management for effective utilisation of Human Resources. 8. Labour Laws relating to Capital Markets. 1. 2. 3. Reference Books: B. Ghosh - Human Resources Development & Management. Pylee George- Industrial Relations & Personnel Management. Davar- Personnel Management &Industrial Relations

3:3. TAXATION (DIRECT TAXES) The structure and scope of Indian Income-tax Act-Concepts and definitions under the Act: Agricultural Income, Assessee, Assessment Year, Income, Capital and Revenue Expenditure, Previous Year, Person, Residence, Company, Dividend interest. Total Income. Heads of Income: Salaries, Interests on Securities, Income from House Property, Profit and Gain of Business or Professions. Capital Gains, and Income from other Sources-Rebates and Relief-Treatments of Losses- Computation of Total Income and Determination of Tax Liability-Companies (Profit) Sur-tax Act. Domestic and Foreign Corporate Tax Provisions. Relevant provisions of W.T. & Gift Tax. 3:4 PROJECT MANAGEMENT Project Planning Real and Financial Budgeting-Preparation and Appraisal of Project-Implementation. Identification of Projects-Financial and Technical Analysis-Project Profile-Financial Appraisal-Feasibility Studies-Project Management-Cost-Benefit Analysis-Over-run of Cost. Bank and Financial Institutions-Policy Guidelines for Project Evaluation-Policy of Conversion of Loans into Equity-Evaluation of Domestic Cost of the Project. Negotiation of Terms Loans-Relevance of Sources to Financial Projects- Public Deposits, Terms Loans, Bonds and Preference, Capital, Debt-Equity Ratio. Reference Books: 1. Manual for Preparation of Investment Feasibility Studies-IDBI. 2. Prasanna Chandra- Project Preparation, Appraisal, Budgeting and Implementation. 3. Little IMD and J.A. Mirles-Project Appraisal and Planning for Developing Countries. 4. H. R. Machiraju - Project Financial. 5. I.M. Pandey - Financial Management. 6. B.M. Patel - Project Management. 3:5 RESEARCH METHODOLOGY 1. Relevance & Scope of Research in Management. 2. Steps involved in the Research Process. 3. Identification of Research Problem. 4. Identification & Types of research variables. 5. Research Design. 6. Data - Collection methodology, primary data - collection methods/ measurement techniques Characteristics of measurement techniques - reliability, validity etc. -Secondary Data Collection methods Library Research, References - Bibliography. Abstracts etc.

7. Analysis techniques - qualitative & quantitative analysis techniques- Techniques of testing hypothesis Chi-square, T-test, Correlation & Regression Analysis, Analysis of variance, etc - Making choice of an appropriate analysis technique. 8. Research Report Writing. 9. Computer - Aided Research Methodology. Reference Books: 1. Lokesh Kaul - Methodology of Educational Research. 2. C.R Kothari - Research Methodology. 3:6 PRODUCTION MANAGEMENT 1. The Production Function - Nature and scope, interface with other functional areas like Marketing, Finance, Personnel, Materials. 2. Types of Production Systems - Job, Batch and Flow Systems, Assembly lines. Process Plants, Intermittent and Continuous Production. 3. Elementary knowledge of Manufacturing Processes - Assembling, Fabrication, Forming and Heat Treatment, Welding, Machining and similar processes. 4. Plant Layouts - Objectives, Symptoms of poor layouts, types of layouts - functional, line and static product layouts, group layouts, factors influencing layouts, techniques of optimsing layouts. 5. Materials Handling - objectives, principles and methods of efficient handling, introduction to material handling equipment. 6. Problems of Location - types of locational decisions and factors affecting location, location of manufacturing and service units, location of distribution and retail units, location of procurement centres. 7. Inventory Management - types of inventory management systems, detailed mathematical treatment of P, Q and MRP System, Selective inventory control -techniques like ABC analysis, HML analysis, FSN analysis, SDE analysis etc. Make & buy decision. 8. Scheduling - objectives, elements of scheduling, master scheduling, priority planning, facility loading, sequencing problem of scheduling. 9. Network Analysis - Activity Analysis, Network Diagramming, PERT, CPM, Estimation of schedule statistics, earliest and latest / start and finishing times, floats. Cost crashing. Estimation of Probability of completion of project in a given time, applications in industry. 10. Break - Even - Point Analysis - Concept of break - even - point, utility of BEP analysis in short and long term decision. 11. Reliability, Maintenance and Plant Services - Objectives, types of Maintenance -breakdown and preventive maintenance, introduction to estimation of system reliability, Fault tree analysis. 12. Quality Control - Total Quality Control, what is quality, inspection, quality control, introduction to control charts & types of control charts- mean, range, proportion defective (P) and (C) charts. 13. Emerging Trends - Just - In - Tune Manufacturing, Robotics, CAD/CAM/CIM. 14. Concepts of Productivity - Introduction to productivity techniques. Value Analysis, Value Engineering. Reference Books: 1. 2. 3. Goel: Production Management S.N.Chary:Prodution & Operation Management. Chunawala &Patel: Production Management.

SECOND YEAR SECOND SEMESTER 4: 1. INTERNATIONAL BANKING AND FINANCE Objective: To understand the mechanics and application of International Financial Systems. FOREIGN EXCHANGE RATES: Theories of exchange rates, Purchasing Power parity theory. Demand and supply and elasticities in foreign exchange rate determination. Balance of Payments theory. Historical perspective on exchange rate. Gold standard, Inter-war instability, Bretton Woods : fixed exchange rates, fluctuating exchange rates. Case for fixed or fluctuating exchange rates, The changing nature of world money. The rise of private world money. Eurocurrencies, Euro-dollars, European Currency Unit, C.R.U., their mechanics and impact. International capital - flows and shocks, International debt problem, its origin, history and status. International liquidity and SDRs. International Financial Institutions - International Monetary Fund, World Bank, International Finance Corporation, Washington D.C. Asian Development Bank. The basics of Currency trading, Foreign exchange dealers, Clearing, Hedging, Speculation in foreign exchange markets. Forward exchange rate, Forward against spot exchange rate, Factors causing exchange rate fluctuations. BALANCE OF PAYMENTS (Structure and Equilibrium): Balance of Payments definition, Component of Balance of Payments, Current Account, Capital Account. Balance of Payments Models, Basic balance, Disequilibrium in Balance of Payments, Measures to correct disequilibrium in Balance of Payments. FOREIGN EXCHANGE MARKETS: Operations of foreign exchange markets. Modes and mechanism of spot and forward exchange contracts. Exchange trading and position. Syndication Swaps, Options, Offshore banking, International Money. Capita! and Foreign Exchange Markets with reference to New York, London, Tokyo, Hong Kong and Singapore MECHANICS OF FOREIGN EXCHANGE MARKETS: Contracts, Credits and Documentation. Sale and Purchase Contracts. Risks in international transactions Incoterms, their importance and their applicability, Payments under trade contracts. Documentary credits. Types of credits. Important credit clauses, Procedure for establishing credits. Documents in foreign trade. Financial, Commercial, Transport, Insurance and other documents. Arbitration and Conciliation. ECONOMIC UNIONS AND TRADE AGREEMENTS : Theory of Custom Union, Political Economy of trade barriers. Protection in world trade a historical perspective. International Trade Organisation (ITO), General Agreement on tariffs and Trade (GATT). Kennedy Round. UNCTAD, Generalised System of Preferences (GSP), Tokyo Round, New International Economic Order. Brand Commission and economic integration. Uruguay Round. North - South divide and dialogue, European Economic Community (EEC) and integration 1992, Impact of currency blocks on world trade and exchange. Reference Books: 1. H. G. Mannur: International Banking. 2. M. C. Vaish: Monetary Theory. 4:2. THEORY AND PRACTICE OF INVESTMENT MANAGEMENT Techniques of Investment - Channel of Investment - Forms of Investment available. Financial Data and Analysis for Investment Availability and Study of the Published Material - Market Reports - Daily Quotations - Markets Trends and Environment - Research and Consulting Services.

Securities Analysis - Types of Securities - Yields on Securities -Factors influencing Prices and Yields on Securities - Forecasting Techniques. Planning of Investment - Portfolio Management - Investment Strategy - Tax Incentives for Investment -Protection of Investors. Investment Guidance and Advice Reference Books: 1. Yashaswy N. J. Personal Investment and Planning Management Education Services 2. Shanbag A. H. - In the Wonderland of Investment. 3. Graham P. Dod D. L. and Cottle C. Security Analysis Principles and Practices. 4. Coates C. Robert- Investment Strategy. 5. Sharp William- Investments. 6. Colbum Hardy, Investors Guide to Technical Analysis. > Periodicals: 1. CIRCON REVIEW (Fortnightly). 2. Stock Exchange Reports. 3. R.B.I. Publications. 4:3. TAXATION II (INDIRECT TAXES) a) Sales Tax, Modvat b) Excise c) Customs 1. 2. d) Stamp Act e) Octroi

Reference Books: Taxman'sLaw & Practice of Indirect Tax. Bare Acts.

4:4. BUSINESS LAW - II CORPORATE AND ECONOMIC LEGISLATION II 1. SECURITIES CONTRACT (Regulation) Act & Rules 2. Companies Act (Relevant provisions) 3. SEBI Act, Regulation, Notifications 4. Depositories Act 5. Stock lending provisions 6. Monopolies and Restrictive Trade Practices Act Reference Books: 1. Taxman's Publications 2. Kulchhal M.C: Mercantile Laws 4-5 RANKING AND MONEY MARKETS 1. The Indian Financial System: An Overview - Public Ownership of Financial InstitutionsInvestor protection participation in Corporate Management. 2 Commercial Banks - SBI & Nationalised Banks, Private Sector Bank, Co-op. Banks. Housing Finance, Banks Reserve Bank of India and the Regulation of the money markets - Instruments of Monetary control and their effectiveness. 3 Commercial Banking before and after Nationalisation - regulation of Commercial Banks - Lead Bank Scheme - Priority Sector Lending - Lending Policies of Commercial banks. 4. Securities Markets - Role of Stock Exchanges and their Regulation and Control -Listing Requirements Underwriting of Issues. Merchant Banking and the services rendered by them. 5. Financial Instruments in India - Advantages and Disadvantages to the investor -New Instruments of Finance such as Commercial Paper, Certificates of Deposit, Bill - Discounting. 6. Consumer Financing and Housing/Financing Agencies involved and progress achieved. 7. Central Banking & Money Markets.

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Reference Books: K. C. Shekhar - Banking Theory & Practice. H.R. Machiraju - Modem Commercial.

4:6. ANALYSIS OF FINANCIAL STATEMENTS Appraisal of Financial Statements - Director's Report and Auditor's Reports- Balance Sheet - Anncxurc to the Balance Sheet - Profit and Loss Account - Contents and Significance - Relationship between Assets, Liabilities and Owner's Equity. Security of the Published Data from Different View Points - Employers, Workers, Market, Investors, Government and the Society. Financial Analysis - Ratio Analysis - Significance of Ratio - The Basic Concepts- Going Concern - Accrual Concept Assets - Equity Earning Analysis-EPS- Component Analysis - Dividend and Return Policy. Reference Books: 1. 2. 3. I. M. Pandey - Financial Management. Prasanna Chandra - Project Planning, Budgeting and Implementation. N. Mehta - Fiscal Strategies and the Capital Market in India.

Periodicals: 1. Journal of International Banking and Development, (Quarterly) ICICI, Bombay. 2. Journal of Foreign Exchange (Quarterly), NIBN. Poona. 3. Chartered Accountant (Monthly) 4. Management Accountant (Monthly) THIRD YEAR THIRD YEAR FIRST SEMESTER 5:l FINANCIAL SERVICES I Part-A Leasing Introduction TAX, Legal and Accounting Aspects, Financial Evaluation: Leaser and Lessee Points of View Qualitative Factors Lease Structuring Lease Agreement Funding of Leases. Non-Banking Financial- Corporations (NBFC) Nidhis and Chit funds Khanna Committee's Recommendations Venture Capital Emerging Financial Instruments. Part-C Other Financial Services Hire Purchase Factoring / Forfeiting Consumer Finance Assets Credit 1. 2. Part-B Merchant Banking Managing of Public Equity/Debenture Issues Mobilising Fixed Deposits Arranging Inter-Corporate Loans Raising Term Finance and Loan Syndication

Lines of Credit Credit Cards Credit Rating in India and in Foreign Countries Services of Registrars and Transfer Agents Services of Custodians-Central Depository System

Reference Books: I.M. Pandey - Financial Management, Vikas J.C.Verma - Merchant Banking.

5:2 SECURITY ANALYSIS AND PORTFOLIO MANAGEMENT I RISK AND RETURN: i) Simple determination of stock market price using time- value of money:- Simple one period and multiperiod case, ii) Return on common stock under uncertainty for a single stock: Expected Return, Variance of Return, Concept of Probability, Distribution of Returns, iii) Co-movement of Two- Asset returns, Measuring of Covariance, Definition and Simple Numerical Example, Correlation Co-efficient, iv) Two Asset portfolio case. Expected return and variance of returns of a Two-asset Portfolio, Simple Numerical Example and Graphical illustration, v) Diversification of Risk: Systematic and Unsystematic Risk. II MODERN PORTFOLIO THEORY: i) General N-asset Portfolio Problem, Morkowitz Model: Objective Function and Constraints, Meaning of Efficient Frontier/Set, Concept of CML (Capital Market Line), Concept of Market Portfolio, Risk Free Rate, Borrowing and Lending. III SHARPE'S SINGLE INDEX OR MARKET MODEL: i) How Asset Returns move with the market. ii) How concept of Beta measures this variability. iii) Definition of Beta, Measuring Beta. IV. i) ii) iii) iv) v) CAPITAL ASSET PRICING MODEL: Statement of CAPM. Slope of Secu rity Market Line (SML) Properties of any asset on the line. Assumptions and some empirical evidence of CAPM. Arbitrage Pricing Theory - Introduction.

V. EFFICIENT MARKET HYPOTHESIS (EMM): 1) Random walk theory. ii) Weak, Semi-strong & strong form. iii) Empirical Evidence of EM H. iv) Anomalies in the Markets: Firm Size Effect, January Effect, Monday Effect. VI. i) ii) iii) iv) i) ii) iii) iv) PORTFOLIO PERFORMANCE MEASURES: Sharpe Index Treynor Index Jensen's Measure Empirical Test of Mutual Fund Performance & EMH. Reference Books: Jordon & Fischer ; Security Analysis & Portfolio Management. Sharpe & Alexander. Investments Investment Game: Prasanna Chandra Punitavathy Pandian - Security Analysis & Portfolio Management.

5:3 MTTTIIAL FUNDS 1. Trustees 2. Asset Management Co. 3. Schemes Income, Growth. 4. Strategies of Investment 5. UTI, Other Mutual Funds & their Schemes 6. SEBI Regulations with reference to Mutual Funds. 5:4 TECHNICAL ANALYSES Part I: Fundamentals of Technical Analysis: A. Introduction to Financial Markets, An Overview, Two Approaches: Fundamentals & Technical Analysis, Financial Markets and the Business Cycle. B. Introduction to Technical Analysis: Philosophy of Technical Analysis, Assumptions of Technical Analysis, Three Important Trends & Market Cycle Model. Types of Chart and Scales. C. Applications of Technical Analysis: Application of Technical Analysis by Traders and Investors, Application in Stock Markets, Price: The Major Averages - Market Indices, Dow lones Indices, Unweighted Indices. The Shape of Bull and Bear Cycle and Price Movements. D. Traders Psychology & Market Sentiment: The Psychology of Fear, The Psychology of Success. The Mechanics of Success. E. Trading Techniques & Systems: Introduction to Trading Techniques, The Application - What Markets to Trade, Detrading, Setting up the Trading Array & the Rules. When, Where and How much to Trade, Limiting the losses, and Stop-loss Point Simulated Real Trading. F. Market Sentiment & Speculation: Sentiment Indicators, Speculative activity in the stock market. Automated Trading Systems, Putting the indicators together. Part II: Dow Theory, Trend Analysts, Market Momentum and Candlesticks. A. Dow Theory: Evolution & Concepts, The Origin and Evolution of Dow theory. Three Trends, A Condensed Market, Role of Speculators, Dow Theory Defects, Importance of Multiple Averages (DJIA & DJTA). B. Applications of Dow Theory: Dow Theory in Practice. Technical Points, Market Indicators, Quick Market Indicators, Economic Indicators, Market Strength, A Contrarian View, Individual Stocks. C. Stock Market Indices. Need for Indices, BSE Sensitive Index and National Index and 200 Index, RB1 Index for Equity Share - Economic Times, Financial Express, Business Standard, Business Indices, Application of Dow Theory to Indian stock Market Indices, Other Countries Indices. D. Trends. Trend lines and Basics: Basic Trend and Trend lines, Violation of Trend lines. Fan Lines, Trend Channels. Corrective Trends, Major Trend lines and Minor Trend lines Support and Resistance, Trading with Support and Resistance, Trading with

Trend lines and Channels. 5;5. TAX PLANNING OBJECTIVES: The objective of this paper is to test the candidates' prudence and planning ability to keep the incidence of tax to a minimum with the frame work of prevalent tax laws while handling matters affecting corporate management such as business, promotion, expansion, diversification and location. Candidates are expected to possess adequate knowledge of the provisions of the relevant Indian tax laws. CONTENTS: Tax Implication in Planning the Legal Status of Business Unit: Firm, Private Limited Company and Public Limited Company. Tax Implication in (a) Receiving Foreign Collaboration, (b) Giving Collaboration Abroad, i.e. Promoting Indian Business, Abroad Subsidiaries, Outright Sales of Know-how. Equity Participation etc. New Implication establishment and Tax Planning, Tax Aspects of Mergers, Demergers and Amalgamation. Tax Implications of Holding Company Vs. Conglomerate Expansion. Tax Incentives and Export Promotion. Personal Taxation: Foreign and Indian. _ Tax Aspects of Disinvestment. Tax Implications in Developing Capitalization Structure (a) Short term Loans (b) Deposits from Public (c) Term Loans, (d) Bonus Issues (e) Dividend Policy. Taxation of Company in which Public are not Substantially interested -TDS Provisions -DTA Agreements -International Tax Planning. 5:6. STOCK EXCHANGES -1 1. Historical Perspective: Need for organised markets. History and Development of Stock Markets in India. 2. Recognition and Regulations of Stock Exchanges: Historical Review of Regulation of Stock Exchanges. The Securities Contracts (Regulation) Acf, of 1956 and the S.C.R. Rules of 1957 - Important Provisions, Securities and Exchange Board of India, Membership criteria. 3. Organisation: Different Types of Organisation Membership Eligibility, Selection, Governing Board: Composition of Election to Powers of Executive Director and his Role, Rules, Byelaws and Regulations. 4. Issue of Capital: Different Types of Securities. Types of Issues: Public, Right, Bonus. Capital Issues Control Act, Issue Procedure, Fixation of Premium, Prospectus and Letter of Offer-Disclosures, Opening and Closing of Issues, Allotment procedure, Historical Trends in Issue of Capital, SEBI Regulation & Free Pricing of New Issues. 5. Listing of Securities: Listing Guidelines - Important Provisions, Listing Procedure. 6. Trading Mechanism: Types of Transactions: Spot, Hand and Special Delivery. Trading Ring - Market Hours, Trading Method, Players, Odd-Lot Trading. 7. Clearing Corporation, Custodial Services. THIRD YEAR SECOND SEMESTER 6.1. DEVELOPMENT BANKING AND FINANCIAL INSTITUTIONS DEVELOPMENT BANKING 1. The Concept of Development Banking as distinguished from Commercial Banking. Evolution of De velopment Banking and growth and structure of Development Banking institutions in India (All India and State level institutions). Role of Development banking institutions in formulation of appropriate action oriented programmes to achieve national development objectives. Operational guidelines for allocation of resources of Development Banks. 2. Details study of Development Banking Institutions viz. IDBI, IFCI, UTI, State Financial Corporations, HUDCO, IFLS, IFDC, National Highway Dev. Corp., ICICI, IRBI, NABARD. Exim Bank and SIDBI, Study

to cover their objectives, operations, various schemes of financing liquidity and investment, Portfolio management, and resource mobilisation efforts. 3. Appraisal for term lending. Consideration of various aspects of project appraisal viz. Demand and market analysis, technical aspects, financial aspects and socio-economic aspects including social cost benefit analysis. 4. The system of follow up and supervision of assisted projects. Problems faced during Project construction project implementation. Other related questions like guidelines on conversion of loans into equity, appointment of nominee director, etc. 5. The incidence and causes of industrial sickness and turnaround strategies for Potentially viable sick units. Characteristics of rehabilitation finance and formulation of rehabilitation packages. Study of important provisions of Sick Industrial Companies (Special Provisions) Act, 1985 and powers and functions of Board for Industrial and Financial Reconstruction (BIFR). 6. Development of backward areas. Various financial incentives available for setting up of industries in backward areas and concept of growth centres. 7. Application of marketing concept to Development Banking. Characteristics of Banking services, the concepts of 'product' to be marketed and market for the 'product'. Development of marketing strategy and organising the marketing function. 8. Perspective planning in Development Banks. 9. Development role of RBI and Commercial banks. Considerations governing and Techniques of lending to priority sectors such as small industry, agriculture, export business, etc. Credit Planning and Credit Monitoring Arrangement. TEACHING METHODOLOGY: Lectures and Group Assignments. 6.2. STRATEGIC MANAGEMENT OBJECTIVE: The market scenario is undergoing a significant change contributed to by changing consumer life style, increase in inter firm rivalry which is further contributed to by Liberalized Policies of Government of India. The Global changes, advances in technology and travel have brought the world closer today. Such that the national borders have ceased to have any significance. In this context it is this strategic orientation that is going to make firms survive. It is in this context that the objectives of this course are: a) To provide concepts, techniques and tools to the students in strategic management. b) To provide to them and update on the developments in the field of Strategic Management. Since all the students would have by now acquired Knowledge in all the functional areas of management. This course on Strategic Management should integrate all the previous learning in different subjects and must provide to the student a view of the strategy from the top management perspective. CONTENTS: 1. The concepts of strategy - Five P's for strategy - plan, pattern, position, perspective and purpose. 2. The strategic management process, organisation of strategic management function. 3. Environmental Analysis. 4. Mission and Definition of Goals: Corporate Philosophy, Corporate governance. 5. Industry structural analysis and identification of opportunities and threads: Porters Five forces model. 6. Internal analysis - identification of distinctive competencies: Value Chain Analysis. 7. Business Strategy, customer needs and product differentiation/customer groups and market segmentation: Development of competitive strategy' cost leadership strategy/ differentiation strategy/focus strategy. 8. Strategy and Industry Structure - Strategy in fragmented industries, strategy for industries in growth stage: strategy in mature industry and strategies in declining industries. 9 Vertical Integration and Diversification. 10. Global Strategy 11. Strategic implementation - organisations dealing with a problem of organisational structure, systems, culture and power.

12. Managing change. 13. The strategic management in entrepreneurial organisations. Reference Books: 1. Michael Porter - Competitive Advantage/ Competitive Strategy. 2. Samuel C. Certe and J Paul Peter Strategic Management Concepts and Applications 3. Henry Mintzberg and James Brian Quinn Strategic Process Concepts / Contexts, Cases. 4. G. P. Jakhodia - Strategic Financial Management. 5. Venugopal - Contemporary Strategic Management. 6. Ramnarayans & I.M. Pandey - Strategic Management of Public Enterprise in Developing Countries. 7. G. N. Pandey: Complete Guide to Successful Entrepreneurship. 6:3 FINANCIAL SERVICES - II MARKETING AND PROMOTION 1. The distinctive features of the Financial Services Industry from a marketing perspective. 2. Competition, the environment, relevant legislation, effect of demographics, consumerism, components of change and strategic implications, impact of technology on the organisation and customers. 3. Customer behavior and market segmentation, consumer behavior and attitudes, types of market segmentation implications of segmentation. 4. Organisation structure around key markets, branch location and distribution. 5. Product developments and pricing. PROMOTION: 1. Advertising & Communication-Advertising Channels, Promotions & Personal Selling. 2. Background of Today's Advertising - Role of Advertising - Advertising Spiral. 3. Target Marketing - Positioning Segmentation. 4. Marketing Services -Intangibility-Perishability -Difference Between Products & Services. 5. Different Institutions and Services - Financial Sector Public Issues - Credit Cards -ATM - Personalised Banking - International versus Domestic. 6. Financial Services in the Region of Housing - Automobile Finances - Personal Finances - Consumer Boom - Shares and Stocks - Merchant Banking. 7. Managing the Advertising - Advertising Agency - Organising - Full Service Advertising Agency. 8. Creative - Client Brief- Advertising Research - Repositioning. 9. Media - Priority of Markets - Innovative Medium - Television - Press - Radio - Outdoor - Direct Mail. 10. Campaign Development - Creating the Copy - Words and Visuals -Creative Leap. 11. Sales Promotion - to Consumers - to the Field Force. 12. Legal & Other Restraints on Advertising - Economic & Social Aspects on Advtg. 6.4 STOCK EXCHANGES II 1. Settlement Procedure: Specified Shares and Non-specified Securities, What Constitutes Specified Shares, Difference in Settlement Procedure, Carry Forward of Transactions and Badla. Role of Clearing House Good and Bad Delivery Norms, Disputes, Arbitration, Redressal Grievances. Alternative Channels for Investment-Stock Exchange Vs. Bullion Market Vs. Real Estate. 2. Trading Regulation: Regulatory Mechanism available to the Exchange. Instruments Regulation of Trading on Stock Exchange, Futures & Options. 3. Share Price Movements: Factors Influencing Share Prices, Risks involved, Government Policies, Industrial and Economic Performance, Corporate Performance. Marketing Position (over bought/over sold), Market Sentiment.

4. Share Price Index: How to Compile and Use. Important Indices available. 5. Stock Exchange Service: Stock Exchange Services to the Investors - Customer Protection Fund and Investors Services Cell. 6. International Scene: Regulations and Operations on London and New York Exchanges. International Training and Settlement Practices. 7. Rights and Obligation. 8. Sources of Stock Exchange Statistics. 9. Substantial acquisition of shares and takeover Regulations. Regulations for Mergers and Acquisition. Reference Books: 1. Gupta, U. L. - Working of Stock Exchanges in India Thomson Press (India), 1972. 2. B.S.E. - Stock Market in India - A History. 3. B.S .E. - Stock Market in India - Listed Securities. 4. B.S.E. - Stock Exchange - Official Directory. 5. Bagchi - A.K. Private Investment in India, Orient Longman, 1980. 6. Dani H - Practical Investment, Published by the Author. 1972. 7. Fact Book 2001 - National Stock Exchange of India Ltd. Periodicals: 1. Circon Review (Delhi) 2. Stock Exchange Review 3. N.S.E News (monthly). 6.5. BUSINESS ETHICS Evolution of thought of Ethics in Business Culture and Ethics - Overview of Ethics Value Systems, Atti-. tudes, Beliefs & Life Patterns, Social and Economic Values and Responsibilities, Trusteeship Management, Gandhian Philosophy of Wealth Management, Ethics and Indian Management, Basic Framework of Normative Ethics, Ethics and Decision Making, Social Responsibility of Business- Ethical Aspects of Corporate Policy, Morality and Rationality in formal Organisation, Moral relationship between Individual and Organisations. Relationship between Ethics and Corporation Excellence - Approaches for Developing various Orientate Towards Ethical Business Behavior.

6.6. SPECIAL STUDIES IN FINANCIAL SERVICES (PROJECT) The student for the partial fulfillment of the course should prepare a Project on any topic related to Financial Services approved by the guide. The presentation will be followed by viva-voce. Guidelines for Project Preparation. Proforma for submission for final project (100 Marks) * All projects must be typed on A-4 sheets, font size one and half spacing on executive bond paper. * 3 Rexin bound copies must be submitted. * All projects must contain the following minimum requirements. A) PREPARATORY PARTS : * Cover to be labelled with the report title, the writers name (optional) and the submission date (optional). * The project report shall be from the functional areas of management or from the modules of BMS syllabi. * Title page : The Title Page should include 4 blocks of information. 1. Title of the report.

2. Name, address of the College/ Institute that and the student who prepared the report. 3. Name, address of the persons, organisation that authorises the report, (if any). 4. Name and address of the Guide. 5. Date on which the report was submitted. * Project certificate in the Prescribed Proforma to be provided by the Institute. * Table of Contents. * List of Illustions & Visual Aids. * Synopsis or Executive Summary. B) Text of the Report: The project report shall have appropriate Chapter Scheme and be presented in total indicative pages of 130200. Introduction: Body :- It consist of the major sections or chapters (with various levels of headings) that present, analyse, and interpret the findings gathered as part of your investigation. These chapters contain the "Proof: the detailed information necessary to support your conclusions and recommendations. Tools of Data Collection (if used) should be specified. Conclusions:- The writer's analysis of what the findings mean. These are the answers to the questions that led to the report. Recommendations :- Opinions, based on reasons and logic about the course of action that should be taken. C) SUPPLEMENTARY PARTS : Acknowledgements & Bibliography :- You have ethical and legal obligations to give the other people credit for their work. * Acknowledging your sources also enhance the credibility of your Report. By citing reference of Books & Website in the text you demon strate that you have thoroughly researched the topic. Annexure Sample questionnaire (if used). POST GRADUATE DIPLOMA IN INVESTMENT STUDIES (PGDIS) FIRST SEMESTER 1;1. FOUNDATION COURSE; (a) Basic concepts- Wealth-Income-Price. National Income-Saving-Investment- National Income in IndiaDetermination of Price-Concept of Monopoly Prices -Rent-Interest-Profit-Wages (Basic Concepts only)Social Responsibilities of Business-Structure of Economy. (b) Definition of Money-Value of Money-General Principles of Measurement and Determination of Value of Money- Inflation -Deflation-Commercial Bank and credit- Central Bank and control of credit-International Agencies- Capital Markets- Role of Savings. Taxation: Direct and Indirect. (c) Origin and Emergence of Securities Market. Characteristics of Securities. Primary and Derivative Issues. (d) Development Vs. Investment Institution SEBI, RBI, UTI, IDBI/ICICI.IFCI/SCICI and M. Funds, Objectives, Functions, Sources and Development of Funds.

Reference Books: 1. India- A Reference Volume. 2. Govt. Of India- Five Year Plans. 3. F. Cherunilum - Business Environment 4. Dagli Vadilal - Financial Institutions in India 5. Peter Drucker- Innovation and Entrepreneurship. 6. K. Chidambaram- Business Environment, Vikas Publishing House. 7. B. Ghosh- Economic Environment of Business, Vikas Publishing House. &. M. C.Vaish- Monetary Theory, Vikas Publishing House. 9. Agarwal & Kundanlal- Economics of Development & Planning, Vikas Publishing House. 1:2. MONEY AND CAPITAL MARKETS; (a) Money Market: Organised and Unorganised Sectors- Discount Market- Banking Systems- Role of the R.B.I. -Banks and Financial Institutions- Sponsoring Agencies for Development- The integration of Indian Money Market- Banks in relation to the Capital Market- Co-operative Banks- Regulation of the Market-

Efficiency of Money Market. Discount and Finance House of India. (b) Market Segments: Interbank, PSU Bonds, Treasury Bills. UT1- 64 etc. (c) New Instruments: Commercial Paper, Certificate of Deposits. (d) Credit Rating Agencies: CRISIL, CARE & ICRA. (e) Capital Market Institution, Structure- New Issue Market- Unit and Investment TrustsInsurance and Provident Funds-Bullion Market-Stock Market-Development Banks- Land Development Banks and Structure of Interest Rates- Yields of Shares and Securities- Regulation and Efficiency of Capital Market. 1. 2. 3. 4. 5. Reference Books: A.V. Avadhani-Indian Financial System, Jaico, Mumbai. V.R. Dcsai and B.D. Ghoansgi-Monetary Policy & Central Banking in India. H.T. Parekh- Indian Capital Market, Past, Present and Future, A.D. Shroff Memorial Lecture. Eroc Howtey, Financial Systems Today, Manchester UniPress H. R. Machiraju- Indian Financial System, Vikas Publishing House.

1:3. STOCK EXCHANGE-1 1. Historical Perspective: Need for Organised Markets, History and Development of Stock Markets in India. 2. Recognition and Regulation of Stock Exchange: Historical Review of Regulation of Stock Exchange. The Securities Contracts (Regulation) Act, of 1956. And the S.C.R. Rules of 1957-Important Provisions Securities and Exchange Board of India. 3. Organisation: Different Types of Organizations Membership Eligibility, Selection, Governing Board Composition of Election to Powers of Executive Director and His Role. Rules, Bye-Laws and Regulations 4. Issue of Capital: Different Types of Securities. Types of Issues: Public, Right, Bonus. Capital Issues Control Act. Issue Procedure, Fixation of Premium, Prospectus and Letter of Office-Disclosure. Opening and Closing of Issues, Allotment Procedure. Historical Trends in Issue of Capital. 5. Marketing and Management of issues: Marketing of Issues. Merchant Banking Services, Underwriting, Brokers And Bankers To And Issues, Cost of Issue and Commission Rates. 6. Listing of Securities: Listing Guidelines- Important Provisions. Listing Procedures. 7. Trading Mechanism: Types of Transactions: Spot, Hand and Special Delivery Trading Ring- Market Hours, Trading Method, Players. Odd Lot Trading. Reference Books:

1. 2. 3. 4. 5.

Gupta L.C. - Preferences Shares And Company Financing 1FMR Madras. Bombay Stock Exchanges- Present Position Of Stock Market In India. B.S.E.- Profile Of Stock Exchange Activity In India. B.S.E.- Regulating Legislation And Other Statues. S.L.N. Sinha- Investment Management, IFMR, Madras.

1;4 CORPORATE AND ECONOMIC LEGISLATION; 1. The Law Relating to Contracts and Performance on Contracts and Damages in Case of Breach 2. The Law Relating to Sale of Goods, Contracts of Agency, Guarantee and Indemnity. 3. The Negotiable 4nstrumeut Act: Main Provisions. 4. The Companies Act- Main Provisions- Incorporation of a Company- Capital Structure- Dividend Administration- Procedure of Transfer of Shares- Bonus and Rights Issues- Other Provisions Relating to Capital. 5. MRTP Act, 1%0- Main Provisions. 6. FEMA, 1973 Main Provisions. Reference: Books: 1. Mulla And Mulla- Contract Act. 2. Khegamwala- Negotiable Instruments Act. 3. FERA, 1973 and Exchange Mannual of R.B.I. 4. A. Ramaiya- Companies Act (Ameded Upto Date) Wadhwa And Co. 5. Taxman's Income Tax Act and Rules. 6. MRTP Act- Berarwalla. 1:5. INVESTMENT ANALYSIS AND MANAGEMENT Financial Analysis for Investment-Government Security Market-Debenture Market- Types of TransactionTrends of Prices- Technical and Financial Factors Influencing Choice of Investment-Tax Incentives- Need for an Integrated Approach- Disinvestments/Privatisation. Portfolio Management- Principles of Portfolio Management. Effective Diversification-'Analysis of Risk and Return- Efficient Portfolio Construction-Issues Involved. Computer Applications in Stock Market and Portfolio Management- Investment Decision Making Investment Counselling and Advice- Investment Facilities in India and Abroad- Indian Investment Center. Reference Books 1. David A. West- Readings in Investment, International Text-Book CO,. Pennsylvania, 2. Fisher, D.E. and Jordan, R-Security Analysis And Portfolio Management, Prentice Hall. 3. Bolton, S.E. - Security Analysis And Management- Holt Rinchart & Winston. 4. Hayes, Douglas and Scott, B.E.- Investment Analysis And Management. MacMillan, 5. Graham, B. Dodd, D.L. and Cpttle, C.-Investment Analysis Principles and Techniques, McGrawHill. 6 Punitavati P- Security Analysis & Portfolio Management, Vikas Publishing house. 1:6. ACCOUNTING AND FINANCIAL MANAGEMENT 1. Basic Principles of Accounting- Types of Accounts-Basic Principles of Preparing Final Accounts. 2. Preparation of Final Accounts of Trading and Non-Trading Concerns- , (a) Preparation of P & L account and Balance Sheet. (b) Preparation of Receipts and Payment account and Income and Expenditure account and Balance Sheet 3. Final Accounts of Partnership-Piecemeal Distribution and Amalgamation of Partnership Firms. 4. Final Accounts of Limited Companies- Issue of Shares and Debentures- Forfeiture and Reissue of SharesIssue of Bonus Shares- Treatment of Reserves. 5. Accounting Concepts and Conventions Entity Cost Continuity, Realisation, Cost Attach, Periodic Matching of Cost and Revenue, Role of Accounting Standards.

6. Study of Financial Statements- Ratio Analysis- Concept of Working Capital- Statements of Sources and Uses of Funds- Elements of Costing. Reference Books: 1. Principles of Accounts- Glautzier and Underdown (Pitman) 2. Book-Keeping and Accountancy- Spiecer and Pegler. 3. Analysis of Financial Accounting- R.L. Gupta & Dadhaswamy. 4. Introduction of accountancy- S.N. Maheswari. 5. Publications of Professional Institutes of Accounting Concepts and Standard. 6. S N Mahesheshwari. - Introduction to Accounting ,Vikas Publishing House. SECOND SEMESTER 2:1. FINANCIAL SERVICES: Level of Knowledge: Detailed Part-A Leasing: Introduction,Tax,, legal and accounting aspects,Financial Evaluation : Leaser and Lessee Points of View,Qualitative Factors,Lease Structuring, Lease Agreement,Funding of Leases. Part-B Merchant Banking : Managing of Public Equity/Debenture Issues, Mobilising Fixed Deposits, Arranging Inter-Corporate Loans.Raising Term Finance and Loan Syndication. Part-C Other Financial Services: Hire Purchase, Factoring/Forfeiting, Consumer Finance, Assets Credit, Lines of Credit, Credit Cards, Credit Rating in India and in Foreign Countries, Services of Registrars and Transfer Agents, Services of Custodians- Central Depository System. Reference Books: I. M.Pandey - Financial Management, Vikas Publishing House. 2:2. PROJECT FINANCING AND APPRAISAL; Project Planning Real and Financial Budgeting- Preparation Ad Appraisal of Project- Implementation. Identification of Projects- Financial and Technical Analysis- Project Profile- Financial Appraisal-Feasibility Studies- Project Management-Cost-Benefit Analysis-Over Run Of Cost. Bank and Financial Institutions-Policy Guidelines for Project Evaluation-Policy of Conversion of Loan into Equity-Evaluation of Domestic Cost of the Project. Negotiation of Term Loans-Relevance of Sources to Financial Projects- Public Deposits, Terms Loans, Bonds and Preference Capital-Debt-Equity Ratio. Reference Books: 1. Manual For Preparation Of Investment Feasibility Studies- IDBI, Bombay, 2. Prassanna Chandra- Financial Management, Tata Mcgraw Hill, New Delhi. 3. Prassanna Chandra- Project Preparation, Appraisal, Budgeting and In^tenientation,Tato-Mcgraw Hill, New Delhi 4. Little IMD and J.A. Mirles- Project Appraisal and planning for Developing Countries-Heinemann Education Books, London. 5. HR Machiraju- Project Finance, Vikas Publishing House. 2;3. ANALYSIS OF FINANCIAL STATEMENTS

Appraisal of Financial Statements - Director's Report and Auditor's Reports- Balance Sheet - Annexure to the Balance Sheet - Profit and Loss Account - Contents and Significance - Relationship between Assets. Liabilities and Owner's Equity. Security of the Published Data from Different View Points - Employers, Workers, Market, Investors. Government and the Society. Financial Analysis - Ratio Analysis - Significance of Ratio -The Basic Concepts- Going Concern - Accrual Concept Assets - Equity Earning Analysis-EPS- Component Analysis - Dividend and Return Policy. Reference Books: 1. I. M. Pandey - Financial Management. 2. Prasanna Chandra - Project Planning, Budgeting and Implementation. 3. N. Mehta - Fiscal Strategies and the Capital Market in India. Periodicals: 1. Journal of International Banking and Development, (Quarterly) ICICI, Bombay. 2. Journal of Foreign Exchange (Quarterly), NIBN. Poona. 3. Chartered Accountant (Monthly) 4. Management Accountant (Monthly) 2:4 INTERNATIONAL INVESTMENT Investment at home and Abroad - Personal and Institutional Investment- Alternative Choices for InvestorsPortfolio Revision - Evaluation of Perfomance. International Investments - Innovative Features - Motives in International Investment- Multinational Corporations and Investments- World Financial Markets, Parallel Money Markets . Role of Inter national and Collaborations- Movement of Foreign Movement Capital- Regulation of Fonegn Investment. Board Features of International Investment Centres- Centres at London, New York, Tokyo, Paris, Frankfurt and Hong Kong. Raising of Capital in Foreign Market. NRI Investments- Globalisation of Indian Stock Market, NRIs, Country Funds, Hero Issue, Flls.Invcstments By Indian Abroad, Portfolio of Investors in Foreign Countries. Reference Books: 1. Report of the Banking Commission. 2. Hester, D.D - Portfolio Management of Banks, Bombay University. 3. S.L.N. Sinha - International Monetary Reform, Vora & Co., Bombay. 4. Pomoer, C. J.-International Investment - Planning on Intergrted Approach, North 5. Dunning J. H. (Bd.) - International Investment- Selected Readings,Penguin. 6. Dunning J. H.- The Multinational Enterprise, George Alien & Unwin. Holland, Amsterdam Periodicals: 1. Finance and Development - (Quarterly). 2. World Bank Reports - (Annual) 3. IDA Reports - (Annual) * 2.5 STOCK EXCHANGES II 1. Settlement Procedure: Specified Shares and Non-specified Securities, What Constitutes Specified Shares, Difference in Settlement Procedure, Carry Forward of Transactions and Badla. Role of Clearing House Good and Bad Delivery Norms, Disputes, Arbitration, Redressal Grievances. Alternative Channels for Investment-Stock Exchange Vs. Bullion Market Vs. Real Estate. 2. Trading Regulation: Regulatory Mechanism available to the Exchange. Instruments Regulation of Trading on Stock Exchange, Futures & Options.

3. Share Price Movements: Factors Influencing Share Prices, Risks involved, Government Policies, Industrial and Economic Performance, Corporate Performance, Marketing Position (over bought/over sold), Market Sentiment. 4. Share Price Index: How to Compile and Use. Important Indices available. 5. Stock Exchange Service: Stock Exchange Services to the Investors - Customer Protection Fund and Investors Services Cell. 6. International Scene: Regulations and Operations on London and New York Exchanges. International Training and Settlement Practices. 7. Rights and Obligation. . 8. Sources of Stock Exchange Statistics. 9. Substantial acquisition of shares and takeover Regulations. Regulations for Mergers and Acquisition. Reference Books: 1. Gupta, U. L. - Working of Stock Exchanges in India Thomson Press (India), 1972. 2. B.S.E. - Stock Market in India - A History. 3. B.S.E. - Stock Market in India - Listed Securities. 4. B.S.E. - Stock Exchange - Official Directory. 5. Bagchi - A.K. Private Investment in India, Orient Longman, 1980. 6. Dani H - Practical Investment, Published by the Author. 1972. 7. Fact Book 2001 - National Stock Exchange of India Ltd. Periodicals: 1. Circon Review (Delhi) 2. Stock Exchange Review 3. N.S.E News (monthly). 2.6. SECURITY ANALYSIS AND PORTFOLIO MANAGEMENT: 1) Risk and Returns: (a)Simple Determination of Stock Market Price using Time Value of Money- Simple One Period and Multiperiod Case, (b) Return on Common Stock under Uncertainty for a Single Stock: Excepted Return, Variance of Return, Concept of Probability Distribution Returns .(c) Co-Movement of Two Assets Returns, Measuring of Covariance, Definition and Simple numerical example, Correlation Coefficient, (d) Two Asset Portfolio Case, Expected Return and Variance of Returns of a Two Asset Portfolio, Simple Numerical Example and Graphical Illustration, (e) Diversification of Risk: Systematic and Unsystematic Risk. 2) Modem Portfolio Theory : i) General N- Asset Portfolio Problem, Morkowitz Model :Objcctivc Function and Constraints. Meaning of Efficient Frontier/Set, Concept of CML (Capital Market Line), Concept of Market Portfolio, Risk Free Rate, Borrowing and Lending. 3) Sharpe's single index or market model: i) How Asset Returns Move with the Market, ii) How Concept of Beta Measures this Variability. iii) Definition of Beta, Measuring Beta. Capital Asset pricing model: i) Statement of CAPM. ii) Slope of Security Market Line (Sml). iii) Properties of any Asset on the Line, iv) Assumptions and some Erotical Evidence of CAMP.

4)

v) Arbitrage Pricing Theory- Introduction. 5) Efficient Market Hypothesis (EMH) : i) Random walk theory, ii) Weak, Semi Strong & Form iii) Emorical Evidence of EMH. iv) Anomalies in the Markets ; Firm Size Effect, January Effect, Monday Effect.

6) Portfolio Performance Measures : i) Sharpe Index, ii) Treynor Index. iii) Jenson's Measure. iv) Empirical test of mutual fund performance & EMH. Reference Books: i) Jordon & Fischer : Security Analysis & Portfolio Management. ii) Sharpe & Alexander : Investments. iii) Prasanna Chandra: Investment Game. iv) Punitavati P- Security Analysis and Portfolio Management Vikas Publishing House.