Course Details

Standard 11 GSEB (NCERT) 4 subject Combo Pack

Accountancy, Economics, Statistics, Organisation of Commerce & Management

Language

English

Videos

Inclusion

Q&A

Videos

Notes

Reference

Accountancy

The course in accountancy is introduced at plus two stage of senior second of school education, as the formal commerce education is provided after ten years of schooling. With the fast changing economic scenario, accounting as a source of financial information has carved out a place for itself at the senior secondary stage. Its syllabus content provide students a firm foundation in basic accounting concepts and methodology and also acquaint them with the changes taking place in the preparation and presentation of financial statements in accordance to the applicable accounting standards and the Companies Act 2013.

The course in accounting put emphasis on developing basic understanding about accounting as an information system. The emphasis in class Xi is placed on basic concepts and process of accounting leading to the preparation of accounts for a sole proprietorship firm. The students are also familiarized with basic calculations of Goods and Services Tax (GST) in recording the business transactions. The accounting treatment of GST is confined to the syllabus of class XI.

The increased role of ICT in all walks of life cannot be overemphasized and is becoming an integral part of business operations. The learners of accounting are introduced to Computerized Accounting System at class XI and XII. Computerized Accounting System is a compulsory component which is to be studied by all students of commerce in class XI; whereas in class XII it is offered as an optional subject to Company Accounts and Analysis of Financial Statements.

This course is developed to impart skills for designing need based accounting database for maintaining book of accounts.

The complete course of Accountancy at the senior secondary stage introduces the learners to the world of business and emphasize on strengthening the fundamentals of the subject.

Objectives:

1. To familiarize students with new and emerging areas in the preparation and presentation of financial statements.

2. To acquaint students with basic accounting concepts and accounting standards.

3. To develop the skills of designing need based accounting database.

4. To appreciate the role of ICT in business operations.

5. To develop an understanding about recording of business transactions and preparation of financial statements.

6. To enable students with accounting for Not-for-Profit organizations, accounting for Partnership Firms and company accounts.

COURSE STRUCTURE :

Unit Title Marks

Part A: Financial Accounting-1

Unit-1: Theoretical Framework 12

Unit-2: Accounting Process 40

Part B: Financial Accounting-II

Unit-3: Financial Statements of Sole 20

Proprietorship from Complete and Incomplete

Records

Unit-4: Computers in Accounting 08

What you will learn

PART A: FINANCIAL ACCOUNTING - I

Unit-1: Theoretical Frame Work

Introduction to Accounting:

Accounting- concept, objectives, advantages and limitations, types of accounting information; users of accounting information and their needs. Qualitative Characteristics of Accounting Information. Role of Accounting in Business.

Basic Accounting Terms- Business Transaction, Capital, Drawings. Liabilities (Non Current and Current). Assets (Non Current, Current); Fixed assets (Tangible and Intangible), Expenditure (Capital and Revenue), Expense, Income, Profit, Gain, Loss, Purchase, Sales, Goods, Stock, Debtor, Creditor, Voucher, Discount (Trade discount and Cash Discount)

Theory Base of Accounting

• Fundamental accounting assumptions: GAAP: Concept

• Business Entity, Money Measurement, Going Concern, Accounting Period, Cost Concept, Dual Aspect, Revenue Recognition, Matching, Full Disclosure, Consistency, Conservatism, Materiality and Objectivity

• System of Accounting. Basis of Accounting: cash basis and accrual basis

• Accounting Standards: Applicability in IndAS

• Goods and Services Tax (GST): Characteristics and Objective.

Learning Outcomes :

After going through this Unit, the students will be able to:

• describe the meaning, significance, objectives, advantages and limitations of accounting in the modem economic environment with varied types of business and non-business economic entities.

• identify / recognise the individual(s) and entities that use accounting information for serving their needs of decision making.

• explain the various terms used in accounting and differentiate between different related terms like current and non-current, capital and revenue.

• give examples of terms like business transaction, liabilities, assets, expenditure and purchases.

• explain that sales/purchases include both cash and credit sales/purchases relating to the accounting year.

• explain the meaning and objectives of accounting standards.

• appreciate that various accounting standards developed nationally and globally are in practice for bringing parity in the accounting treatment of different items.

• acknowledge the fact that recording of accounting transactions follows double entry system.

• Understand the need of IFRS

• Explain the meaning, objective and characteristic of GST.

Unit-2: Accounting Process

Recording of Business Transactions

• Voucher and Transactions: Source documents and Vouchers, reparation of Vouchers, Accounting Equation Approach: Meaning and Analysis, Rules of Debit and Credit.

• Recording of Transactions: Books of Original Entry- Journal

• Special Purpose books:

• Cash Book: Simple, cash book with bank column and petty cashbook

• Purchases book

• Sales book

• Purchases return book

• Sales return book

Note: Including trade discount, freight and cartage expenses for simple GST calculation.

• Ledger: Format, Posting from journal and subsidiary books, Balancing of accounts

Bank Reconciliation Statement:

• Need and preparation, Bank Reconciliation Statement with Adjusted Cash Book

Depreciation, Provisions and Reserves

• Depreciation: Concept, Features, Causes, factors

• Other similar terms: Depletion and Amortisation

• Methods of Depreciation:

(i) Straight Line Method (SLM)

(ii) Written Down Value Method (WDV)

Note: Excluding change of method

• Difference between SLM and WDV; Advantages of SLM and WDV

• Accounting treatment of depreciation

i. Charging to asset account

ii. Creating provision for depreciation/accumulated depreciation account

iii. Treatment for disposal of asset

• Provisions and Reserves: Difference

• Types of Reserves:

i. Revenue reserve

ii. Capital reserve

iii. General reserve

iv. Specific reserve

v. Secret reserve

Accounting for Bills of Exchange

• Bill of exchange and Promissory Note: Definition, Specimen, Features, Parties.

• Difference between Bill of Exchange and Promissory Note

• Terms in Bill of Exchange:

(i) Term of Bill

(ii) Accommodation bill (concept)

(iii) Days of Grace

(iv) Date of maturity

(v) Discounting of bill

(vi) Endorsement of bill

(vii) Bill after due date

(viii) Negotiation

(ix) Bill sent for collection

(x) Dishonour of bill

(xi) Retirement of bill

(xii) Renewal of bill

• Accounting Treatment

Note: excluding accounting treatment for accommodation bill

• Trial balance and Rectification of Errors Trial balance: objectives and preparation (Scope: Trial balance with balance method only)

• Errors: types-errors of omission, commission, principles, and compensating; their effect on Trial Balance.

• Detection and rectification of errors; preparation of suspense account.

Learning Outcomes :

After going through this Unit, the students will be able to:

• explain the concept of accounting equation and appreciate that every transaction affects either both the sides of the equation or a positive effect on one item and a negative effect on another item on the same side of accounting equation.

• explain the effect of a transaction (increase or decrease) on the assets, liabilities, capital, revenue and expenses.

• develop the understanding of recording of transactions in journal and the skill of calculating GST.

• explain the purpose of maintaining a Cash Book and develop the skill of preparing the format of different types of cash books and the method of recording cash transactions in Cash book.

• describe the method of recording transactions other than cash transactions as per their nature in different subsidiary books.

• appreciate that at times bank balance as indicated by cash book is different from the bank balance as shown by the pass book /bank statement and to reconcile both the balances, bank reconciliation statement is prepared.

• appreciate that for ascertaining the position of individual accounts, transactions are posted from subsidiary books and journal proper into the concerned accounts in the ledger and develop the skill of ledger posting.

• explain the necessity of providing depreciation and develop the skill of using different methods for computing depreciation.

• understand the accounting treatment of providing depreciation directly to the concerned asset account or by creating provision for depreciation account.

• appreciate the method of asset disposal through the concerned asset account or by preparing asset disposal account.

• appreciate the need for creating reserves and also making provisions for events which may belong to the current year but may happen in next year.

• acquire the knowledge of using bills of exchange and promissory notes for financing business transactions;

• understand the meaning and distinctive features of these instruments and develop the skills of their preparation.

• state the meaning of different terms used in bills of exchange and their implication in accounting.

• explain the method of recording of bill transactions.

• state the need and objectives of preparing trial balance and develop the skill of preparing trial balance.

• appreciate that errors may be committed during the process of accounting.

Unit 3: Financial Statements of Sole Proprietorship

Financial Statements

Meaning, objectives and importance; Revenue and Capital Receipts; Revenue and Capital Expenditure; Deferred Revenue expenditure.

Trading and Profit and Loss Account: Gross Profit, Operating profit and Net profit. Preparation.

Balance Sheet: need, grouping and marshalling of assets and liabilities. Preparation.

Adjustments in preparation of financial statements with respect to closing stock, outstanding expenses, prepaid expenses, accrued income, income received in advance, depreciation, bad debts, provision for doubtful debts, provision for discount on debtors, Abnormal loss, Goods taken for personal use/staff welfare, interest on capital and managers commission.

Preparation of Trading and Profit and Loss account and Balance Sheet of a sole proprietorship with adjustments.

Incomplete Records

Features, reasons and limitations.

Ascertainment of Profit/Loss by Statement of Affairs method.

Difference between accounts from incomplete records and Statement of Affairs. Preparation of Trading, Profit and Loss account and Balance Sheet.

Learning Outcomes :

• state the meaning of financial statements the

• purpose of preparing financial statements.

• state the meaning of gross profit, operating profit and net profit and develop the skill of preparing trading and profit and loss account.

• explain the need for preparing balance sheet.

• understand the technique of grouping and marshalling of assets and liabilities.

• appreciate that there may be certain items other than those shown in trial balance which may need adjustments while preparing financial statements.

• develop the understanding and skill to do adjustments for items and their presentation in financial statements like depreciation, closing stock, provisions, abnormal loss etc.

• develop the skill of preparation of trading and profit and loss account and balance sheet.

• state the meaning of incomplete records and their uses and limitations.

• develop the understanding and skill of computation of profit / loss using the statement of affairs method.

Unit 4: Computers in Accounting

• Introduction to computer and accounting information system {AIS}: Introduction to computers (elements, capabilities, limitations of computer system)

• Introduction to operating software, utility software and application software. Introduction to accounting information system (AIS) as a part of Management Information System.

• Automation of accounting process: meaning

• Stages in automation: (a) Accounting process in a computerised environment; comparison between manual accounting process and computerised accounting process, (b) Sourcing of accounting software; kinds of software: readymade software; customized software and tailor-made software; generic considerations before sourcing accounting software (c) creation of account groups and hierarchy (d) generation of reports – trial balance, profit and loss account and balance sheet.

Learning Outcomes :

• state the meaning of a computer, describe its components, capabilities and limitations.

• state the meaning of accounting information system.

• appreciate the need for use of computers in accounting for preparing accounting reports.

• develop the understanding of comparing the manual and computerized accounting process and appreciate the advantages and limitations of automation.

• understand the different kinds of accounting software.

Economics

Economics is one of the social sciences, which has great influence on every human being. As economic life and the economy go through changes, the need to ground education in children’s own experience becomes essential. While doing so, it is imperative to provide them opportunities to acquire analytical skills to observe and understand the economic realities.

At senior secondary stage, the learners are in a position to understand abstract ideas, exercise the power of thinking and to develop their own perception. It is at this stage, the learners are exposed to the rigour of the discipline of economics in a systematic way.

The economics courses are introduced in such a way that in the initial stage, the learners are introduced to the economic realities that the nation is facing today along with some basic statistical tools to understand these broader economic realities. In the later stage, the learners are introduced to economics as a theory of abstraction.

The economics courses also contain many projects and activities. These will provide opportunities for the learners to explore various economic issues both from their day-to-day life and also from issues, which are broader and invisible in nature. The academic skills that they learn in these courses would help to develop the projects and activities. The syllabus is also expected to provide opportunities to use information and communication technologies to facilitate their learning process.

Objectives:

• Understanding of some basic economic concepts and development of economic reasoning which the learners can apply in their day-to-day life as citizens, workers and consumers.

• Realisation of learners’ role in nation building and sensitivity to the economic issues that the nation is facing today.

• Equipment with basic tools of economics and statistics to analyse economic issues. This is pertinent for even those who may not pursue this course beyond senior secondary stage.

• Development of understanding that there can be more than one view on any economic issue and necessary skills to argue logically with reasoning.

COURSE STRUCTURE :

Units Title Marks

Part A: Statistics for Economics

1. Introduction

2. Collection, Organisation and Presentation of Data 13

3. Statistical Tools and Interpretation 27

Part B: Introductory Microeconomics

4. Introduction 04

5. Consumer's Equilibrium and Demand 13

6. Producer Behaviour and Supply 13

Forms of Market and Price Determination under 10

perfect competition with simple applications

What you will learn

Part A: Statistics for Economics

In this course, the learners are expected to acquire skills in collection, organisation and presentation of quantitative and qualitative information pertaining to various simple economic aspects systematically. It also intends to provide some basic statistical tools

to analyse, and interpret any economic information and draw appropriate inferences. In this process, the learners are also expected to understand the behaviour of various economic data.

Unit 1: Introduction

What is Economics?

Meaning, scope, functions and importance of statistics in Economics

Unit 2: Collection, Organisation and Presentation of data

Collection of data - sources of data - primary and secondary; how basic data is collected, with concepts of Sampling; Sampling and Non-Sampling errors; methods of collecting data; some important sources of secondary data: Census of India and National Sample Survey Organisation.

Organisation of Data: Meaning and types of variables; Frequency Distribution.

Presentation of Data: Tabular Presentation and Diagrammatic Presentation of Data: (i) Geometric forms (bar diagrams and pie diagrams), (ii) Frequency diagrams (histogram, polygon and ogive) and (iii) Arithmetic line graphs (time series graph).

Unit 3: Statistical Tools and Interpretation

(For all the numerical problems and solutions, the appropriate economic interpretation may be attempted. This means, the students need to solve the problems and provide interpretation for the results derived.)

Measures of Central Tendency- mean (simple and weighted), median and mode

Measures of Dispersion - absolute dispersion (range, quartile deviation, mean deviation and standard deviation); relative dispersion (co-efficient of range, co-efficient of quartile-deviation, co-efficient of mean deviation, co-efficient of variation); Lorenz Curve: Meaning, construction and its application.

Correlation – meaning and properties, scatter diagram; Measures of correlation – Karl Pearson's method (two variables ungrouped data) Spearman's rank correlation.

Introduction to Index Numbers - meaning, types - wholesale price index, consumer price index and index of industrial production, uses of index numbers; Inflation and index numbers.

Part B: Introductory Microeconomics

Unit 4: Introduction

Meaning of microeconomics and macroeconomics; positive and normative economics What is an economy? Central problems of an economy: what, how and for whom to produce; concepts of production possibility frontier and opportunity cost.

Unit 5: Consumer's Equilibrium and Demand

Consumer's equilibrium - meaning of utility, marginal utility, law of diminishing marginal utility, conditions of consumer's equilibrium using marginal utility analysis.

Indifference curve analysis of consumer's equilibrium-the consumer's budget (budget set and budget line), preferences of the consumer (indifference curve, indifference map) and conditions of consumer's equilibrium.

Unit 6: Producer Behaviour and Supply

Meaning of Production Function – Short-Run and Long-Run

Total Product, Average Product and Marginal Product.

Returns to a Factor

Cost: Short run costs - total cost, total fixed cost, total variable cost; Average cost; Average fixed cost, average variable cost and marginal cost-meaning and their relationships.

Revenue - total, average and marginal revenue - meaning and their relationship.

Producer's equilibrium-meaning and its conditions in terms of marginal revenue marginal cost. Supply, market supply, determinants of supply, supply schedule, supply curve and its slope, movements along and shifts in supply curve, price elasticity of supply; measurement of price elasticity of supply - percentage-change method.

Unit 7: Forms of Market and Price Determination under Perfect Competition with simple applications

Perfect competition - Features; Determination of market equilibrium and effects of shifts in demand and supply.

Other Market Forms - monopoly, monopolistic competition, oligopoly - their meaning and features.

Simple Applications of Demand and Supply: Price ceiling, price floor.

Statistics

the learners are expected to acquire skills in collection, organisation and presentation of quantitative and qualitative information pertaining to various simple economic aspects systematically. It also intends to provide some basic statistical tools to analyse, and interpret any economic information and draw appropriate inferences. In this process, the learners are also expected to understand the behaviour of various economic data.

What you will learn

Collection of Data

Origin and Growth of Statistics, Quantitative and Qualitative Data, Primary and secondary Data, Methods of Collecting Primary Data, Direct Inquiry, Indirect Inquiry, Method of Questionnaire, Characteristics of an Ideal Questionnaire, Questionnaire by Post, Questionnaire by Enumerators, Secondary Data, Sources of Secondary Data, Precautions while using Secondary Data.

PresClassification, Types of classification, Classification of quantitative data, Discrete frequency distribution, Continuous frequency distribution, Cumulative frequency distribution, Points for preparing continuous frequency distribution, Classification of qualitative data, Simple classification, Manifold classification Tabulation-types and uses, Guiding rules for tabulation, Diagrams: Importance and limitations of diagrams in statistics, Types of diagrams, One dimensional diagram, Bar diagram, Multiple bar diagram, Simple divided bar diagram, Percentage divided bar diagrams, Two dimensional diagrams, Circle diagrams, Pie diagrams, Pictorial diagrams.

entation of Data

Measures of Central Tendency

Characteristics of good measure of central tendency, Arithmetic Mean or Mean, Combined mean and Weighted mean, Geometric mean Meaning, Measures of positional averages: Median, Quartiles, Deciles, Percentiles, Mode, Graphical Method, Comparative study of mean, median and mode.

Measures of Dispersion

Meaning and characteristics of dispersion, Concept of absolute and relative measures of dispersion, Measures of dispersion: Absolute and Relative Measures, Range, Quartile Deviation, Average Deviation, Standard Deviation, Combined Standard Deviation

Skewness of Frequency Distribution

Meaning of Skewness, Types of Skewness, Concept of Absolute and Relative Measures of Skewness, Methods of obtaining Measures of Skewness and Coefficients of Skewness, Karl Pearson’s Method, Bowley’s Method, Comparison of two methods of Coefficient of Skewness

Permutations, Combinations and Binomial Expansion

Permutation : Meaning, Combination : Meaning, Binomial Expansion : Meaning and Characteristics

Sampling Methods

Population and Sample: Meaning, Population inquiry and sample inquiry, Need for Sampling, Characteristics of an Ideal sample, Points to be considered while determining the sample size, Sampling Methods, Simple Random Sampling, Stratified Random Sampling, Systematic Sampling

Function

Definition, Domain, co-domain, Range, Notations of functions, Types of function, One - one function, Many - one function, Constant function, Equal functions, Real function

Geometric Progression

Meaning, Formula for obtaining n th term, Meaning of series, Three consecutive terms

Organisation of Commerce & Management

The courses in Business Studies and Accountancy are introduced at + 2 stage of Senior Secondary Education as formal commerce education is provided after first ten years of schooling. Therefore, it becomes necessary that instructions in these subjects are given in such a manner that students have a good understanding of the principles and practices bearing in business (trade and industry) as well as their relationship with the society.

Business is a dynamic process that brings together technology, natural resources and human initiative in a constantly changing global environment. To understand the framework in which a business operates, a detailed study of the organisation and management of business processes and its interaction with the environment is required.

Globalisation has changed the way organizations transact their business.

Information Technology is becoming a part of business operations in more and more organisations. Computerised systems are fast replacing other systems. E-business and other related concepts are picking up fast which need to be emphasized in the curriculum.

The course in Business Studies prepares students to analyse, manage, evaluate and respond to changes which affect business. It provides a way of looking at and interacting with the business environment. It recognizes the fact that business influences and is influenced by social, political, legal and economic forces.

Objectives:

• To inculcate business attitude and develop skills among students to pursue higher education, world of work including self employment.

• To develop students with an understanding of the processes of business and its environment;

• To acquaint students with the dynamic nature and inter-dependent aspects of business;

• To develop an interest in the theory and practice of business, trade and industry;

• To familiarize students with theoretical foundations of the process of organizing and managing the operations of a business firm;

• To help students appreciate the economic and social significance of business activity and the social cost and benefits arising there from;

• To acquaint students with the practice of managing the operations and resources of business;

• To enable students to act more effectively and responsibly as consumers, employers, employees and citizens;

COURSE STRUCTURE :

Units Title Marks

Part – A: Foundations of Business

Unit 1: Nature and Purpose of Business 16

Unit 2: Forms of Business Organisations

Unit 3: Public, Private and Global Enterprises 14

Unit 4: Business Services

Unit 5: Emerging Modes of Business

Unit 6: Social Responsibility of Business and 10

Business Ethics

Part B : Finance and Trade

Unit 7: Sources of Business Finance 20

Unit 8: Small Business

Unit 9: Internal Trade 20

Unit 10: International Business

What you will learn

Part A: Foundation of Business

Concept includes meaning and features

Unit 1: Evolution and Fundamentals of Business

• History of Trade and Commerce in India: Indigenous Banking System, Rise of Intermediaries, Transport, Trading Communities: Merchant Corporations, Major Trade Centres, Major Imports and Exports, Position of Indian Sub-Continent in the World Economy.

• Business – meaning and characteristics

• Business, profession and employment- Concept

• Objectives of business

• Classification of business activities - Industry and Commerce

• Industry-types: primary, secondary, tertiary Meaning and subgroups

• Commerce-trade: (types-internal, external; wholesale and retail) and auxiliaries to trade; (banking, insurance, transportation, warehousing, communication, and advertising) – meaning

• Business risk-Concept

After going through this unit, the student/ learner would be able to:

• To acquaint the History of Trade and Commerce in India

• Understand the meaning of business with special reference to economic and non-economic activities.

• Discuss the characteristics of business.

• Understand the concept of business, profession and employment.

• Differentiate between business, profession and employment.

• Appreciate the economic and social objectives of business.

• Examine the role of profit in business.

• Understand the broad categories of business activities- industry and commerce.

• Describe the various types of industries.

• Discuss the meaning of commerce, trade and auxiliaries to trade.

• Discuss the meaning of different types of trade and auxiliaries to trade.

• Examine the role of commercetrade and auxiliaries to trade.

Unit 2: Forms of Business organizations :

• Sole Proprietorship-Concept, merits and limitations.

• Partnership-Concept, types, merits and limitation of partnership, registration of a partnership firm, partnership deed. Types of partners.

• Hindu Undivided Family Business: Concept

• Cooperative Societies-Concept, merits, and limitations.

• Company - Concept, merits and limitations; Types: Private, Public and One Person Company – Concept

• Formation of company - stages, important documents to be used in formation of a company.

• Choice of form of business organization

After going through this unit, the student/ learner would be able to:

• List the different forms of business organizations and understand their meaning.

• Identify and explain the concept, merits and limitations of Sole Proprietorship.

• Identify and explain the concept, merits and limitations of a Partnership firm.

• Understand the types of partnership on the basis of duration and on the basis of liability.

• State the need for registration of a partnership firm.

• Discuss types of partners –active, sleeping, secret, nominal and partner by estoppel.

• Understand the concept of Hindu Undivided Family Business.

• Identify and explain the concept, merits and limitations of Cooperative Societies.

• Identify and explain the concept, merits and limitations of private and public companies.

• Understand the meaning of one person company.

• Distinguish between a private company and a public company.

• Highlight the stages in the formation of a company.

• Distinguish between the various forms of business organizations.

Unit 3: Public, Private and Multinational Company

• Public sector and private sector enterprises – Concept

• Forms of public sector enterprises: Departmental Undertakings, Statutory Corporations and Government Company.

• Multinational Company – Feature. Joint ventures, Public private partnership – concept

After going through this unit, the student/ learner would be able to:

• Develop an understanding of Public sector and private sector enterprises

• Identify and explain the features, merits and limitations of different forms of public sector enterprises.

• Develop an understanding of multinational company, joint ventures and public private partnership by studying their meaning and features.

Unit 4: Business Services

• Business services – meaning and types. Banking: Types of bank accounts - savings, current, recurring, fixed deposit and multiple option deposit account.

• Banking services with particular reference to Bank Draft, Bank Overdraft, Cash credit. E-Banking meaning, Types of digital payments.

• Insurance – Principles. Types – life, health, fire and marine insurance – concept.

• Postal Service - Mail, Registered Post, Parcel, Speed Post, Courier - meaning.

After going through this unit, the student/ learner would be able to:

• Understand the meaning and types of business services.

• Discuss the meaning and types of Business service Banking

• Develop an understanding of difference types of bank account.

• Develop an understanding of the different services provided by banks.

• Recall the concept of insurance Understand Utmost Good Faith, Insurable Interest, Indemnity, Contribution, Doctrine of Subrogation and Causa Proxima as principles of insurance.

• Discuss the meaning of different types of insurance-life, health, fire, marine insurance.

• Understand the utility of different telecom services.

Unit 5: Emerging Modes of Business

• E - business: concept, scope and benefits.

• Business Process Outsourcing (BPO): Concept, need and scope

After going through this unit, the student/ learner would be able to:

• Give the meaning of e-business.

• Discuss the scope of e-business.

• Appreciate the benefits of ebusiness

• Distinguish e-business from traditional business.

Unit 6: Social Responsibility of Business and Business Ethics

• Concept of social responsibility

• Case of social responsibility

• Responsibility towards owners, investors, consumers, employees, government and community.

• Role of business in environment protection.

• Business Ethics - Concept and Elements

After going through this unit, the student/ learner would be able to:

• State the concept of social responsibility.

• Examine the case for social responsibility.

• Identify the social responsibility towards different interest groups.

• Appreciate the role of business in environment protection.

• State the concept of business ethics.

• Describe the elements of business ethics.

Part B: Finance and Trade

Unit 7: Sources of Business Finance

• Concept of business finance

• Owners’ funds- equity shares, preferences share, retained earnings, Global Depository receipt (GDR), American Depository Receipt (ADR) and International Depository Receipt (IDR) – concept.

• Borrowed funds: debentures and bonds, loan from financial institution and commercial banks, public deposits, trade credit, Inter Corporate Deposits (ICD).

After going through this unit, the student/ learner would be able to:

• State the meaning, nature and importance of business finance.

• Classify the various sources of funds into owners’ funds.

• State the meaning of owners’ funds.

• Understand the meaning of Global Depository receipts, American Depository Receipts and International Depository Receipts

• State the meaning of borrowed funds.

• Discuss the concept of debentures, bonds, loans from financial institutions and commercial banks, Trade credit and inter corporate deposits.

Unit 8: Small Business and Enterprises

• Entrepreneurship Development (ED): Concept, Characteristics and Need. Process of Entrepreneurship Development: Start-up India Scheme, ways to fund start-up. Intellectual Property Rights and Entrepreneurship

• Small scale enterprise as defined by MSMED Act 2006 (Micro, Small and Medium Enterprise Development Act)

• Role of small business in India with special reference to rural areas

• Government schemes and agencies for small scale industries: National Small Industries Corporation (NSIC) and District Industrial Centre (DIC) with special reference to rural, backward areas.

After going through this unit, the student/ learner would be able to:

• Understand the concept of Entrepreneurship Development (ED), Intellectual Property Rights.

• Understand the meaning of small business

• Discuss the role of small business in India

• Appreciate the various Government schemes and agencies for development of small scale industries. NSIC and DIC with special reference to rural, backward area.

Unit 9: Internal Trade

• Internal trade - meaning and types services rendered by a wholesaler and a retailer

• Types of retail-trade-Itinerant and small scale fixed shops retailers

• Large scale retailers-Departmental stores, chain stores – concept

• GST (Goods and Services Tax): Concept and key-features

After going through this unit, the student/ learner would be able to:

• State the meaning and types of internal trade.

• Appreciate the services of wholesalers and retailers.

• Explain the different types of retail trade.

• Highlight the distinctive features of departmental stores, chain stores and mail order business.

• Understand the concept of GST

Unit 10: International Trade

• International trade: concept and benefits

• Export trade – Meaning and procedure

• Import Trade - Meaning and procedure

• Documents involved in International Trade; indent, letter of credit, shipping order, shipping bills, mate’s receipt (DA/DP)

• World Trade Organization (WTO) meaning and objectives

After going through this unit, the student/ learner would be able to:

• Understand the concept of international trade.

• Describe the scope of international trade to the nation and business firms.

• State the meaning and objectives of export trade.

• Explain the important steps involved in executing export trade.

• State the meaning and objectives of import trade.

• Discuss the important steps involved in executing import trade.

• Develop an understanding of the various documents used in international trade.

• Identify the specimen of the various documents used in international trade.

• Highlight the importance of the documents needed in connection with international trade transactions.

• State the meaning of World Trade Organization.

• Discuss the objectives of World Trade Organization in promoting international trade.