Amity Online

MBA International Finance

Course Structure
Semester I Relevant ACCA paper
1 Accounting for Managers FA – Financial Accounting (Exempted)
MA – Management Accounting (Exempted)
2 Marketing Management
3 Managerial Economics BT – Business and Technology (Exempted)
4 Statistics for Management
5 Professional Communication
Semester II
1 Business Research Methods
2 Financial Management
3 Human Resource Management
4 Legal Aspects of Business LW – Corporate and Business Law (Exempted)
5 Conflict Resolution and Management
Semester III
1 Strategic Management
2 Professional Ethics
3 Minor Project
4 Performance Management PM – Performance Management (Exempted)
5 Business Taxation TX – Taxation (Exempted)
6 Financial Reporting FR – Financial Reporting (Exempted)
7 International Financial Management FM – Financial Management (Exempted)
Semester IV
1 Management in Action - Social
Economic and Ethical Issues
2 Major Project
3 Digital Marketing
4 Audit & Assurance AA – Audit and Assurance (Exempted)
5 Strategic Business Leader SBL – Strategic Business Leader (Non
Exempted/ACCA Exam)
6 Strategic Business Reporting SBR – Strategic Business Reporting (Non
Exempted/ACCA Exam)
Yellow Highlighted – ISDC Pro access
Green Highlighted – ISDC Pro access and live session by ISDC SME for 20 hours each paper
 Amity Online
MBA International Finance

Legal Aspects of Business

Course Objectives:

1. This course aims to develop in the student an understanding of the core principles of
the laws that regulate business organizations.
2. Course would develop the independent and individual skills needed for students to
take their knowledge further, and to apply it in practice in industry, or business
environment.

Course Contents:

Module I: Commercial Laws

Indian Contract Act: Definition of contract, Nature and kinds of Contracts, essentials
elements and types of a contract, Formation of a contract, performance of contracts, breach of
contract and its remedies. Principles Governing Capacity of Parties and Free Consent,
Legality of Objects, Performance and Discharge of Contract, Breach of Contract and its
Remedies, Quasi contracts, Special contracts of Bailment and Pledge, Indemnity and
Guarantee, Contract Of Agency: Nature of agency, Creation and types of agents, Authority
and liability of Agent and principal: Rights and duties of principal and agents, termination of
agency.

Sale of Goods Act, 1930: Sale and Agreement to Sell, Hire Purchase – Pledge – Mortgage –
Hypothecation Lease. Goods – Different types of Goods, Passing of Property in Goods,
Conditions and Warranties, Doctrine of Caveat emptor, Rights of an unpaid Seller.
Negotiable Instruments Act, 1882: Meaning of Negotiability and Negotiable Instruments,
Nature and requisites of negotiable instruments, Types of negotiable instruments, Cheques
Bill of Exchange and Promissory Note –liability of parties, holder in due course, special rules
for Cheque and drafts, Crossing of Cheques – Endorsement – Dishonour of Cheques,
discharge of negotiable instruments.

Module II Partnership
Indian Partnership Act 1932: Meaning and definitions, Registration of partnerships, Types of
partners, Dissolution,
Limited Liability Partnership Act, 2008– Meaning & definitions, Meaning of designated
partner, Registration of LLP, Conversion into LLP, Dissolution

Module III Companies Act 2013

Companies Act, 2013-Meaning and types of companies, Formation of a company,
Incorporation of companies-Memorandum and Articles of Association, Securities Regulation-
Share Capital and Shareholders, Prospectus, Issue of Shares and Raising of Capital, Buy Back
of Shares, Debentures, Company Meetings and Proceedings, Powers, Duties, Liabilities of
Directors, Merger and Amalgamation and Winding up of Company, MCA21, Corporate
Governance and SEBI-Objectives and Functions

Module IV Consumer Protection Act 1986

Consumer Rights, Procedures for Consumer Grievances Redressal, Types of consumer
Redressal Machineries and Forums.
 Amity Online
MBA International Finance

Module V Miscellaneous Themes

Introduction of IPR – Overview of Law & Procedure relating to Copy rights, Trade marks,
Patent Act, Infringements. Information Technology Act 2008- Scope , Applicability and penal
provisions

Text & References:

• N.D Kapoor, Elements of Mercantile Law, Sultan Chand & Company, India, 2006.
• Akhileshwar Pathak, Legal Apects of Business, Tata Mc Graw Hill, India, 2009.
• P.K Goel, Business Law for Managers, Biztantra Publishers, India,2008.
• P. P. S. Gogna, Mercantile Law, S. Chand & Co. Ltd., India, Fourth Edition, 2008.
• Dr. Vinod, K. Singhania, Direct Taxes Planning and Management, 2008.
• Richard Stim, Intellectual Property- Copy Rights, Trade Marks, and Patents, Cengage
Learning, 2008.
• Balachandran V., Legal Aspects of Business, Tata McGraw Hill, 2012
• Daniel Albuquerque, Legal Aspect of Business, Oxford, 2012
• Ravinder Kumar– Legal Aspect of Business.– Cengage Learning, 2nd Edition-2011.
 Amity Online
MBA International Finance

Business Taxation
Course Objectives:

1. The objective of this course is to acquaint the students with basic principles
underlying the provisions of direct tax laws and to develop a sound understanding of
the tax laws and accepted tax practices.
2. Also to provide understanding of direct tax including rules pertaining to and
application to different business situations but also explain practical aspects of Direct
Tax Laws.

Learning Outcomes:

1. On the successful completion of this course the student will be able to interpret and
analyze personal income tax and understand direct tax laws as prescribed under
different provisions of the Income-tax Act, 1961.
2. A study of this paper will be helpful in taking different financial/managerial decisions
after evaluating and reviewing the impact of direct tax laws.
3. Develop the ability to file individual returns and meet the legal norms and procedures.
4. Student will gain a working knowledge regarding computation of taxable income,
deductions and exemptions for the calculation of tax liability pertaining to
individuals/firms.

Course Contents :

Module I Introduction to Income Tax Law

Brief History of Income Tax, Legal Frame work, Cannons of Taxation – Finance Bill
– Scheme of Income Tax. Definition: Assessee, Person, assessment year, previous
year, income, Gross Total Income, Total Income, Agricultural Income (including
integration of Agricultural Income with Non- Agriculture Income). Revenue and
Capital (a) Receipts (b) Expenditure (c) Loss.

Residential Status and Incidence of Tax.Exempted Incomes U/S 10 (Restricted to

Individual Assessees) : fully exempted and partly exempted incomes, calculation of
taxable income in case of all kind of assessees.

Module II Income from Salary and House property

Income from Salary – Features of Salary Income – Basic Salary – Allowance,
Perquisites section 89(1) – Tax Rebate U/S 88 – Taxability of House Rent
Allowance, Leave Encashment, Commutation of Pension, Death-cum-Retirement
benefits, Gratuity, compensation received on termination of the service. Problems.
Calculation of taxable income from salary.

House property income- Exempted Incomes U/S 10 (Restricted to Individual

Assessees) : fully exempted and partly exempted incomes – Annual value under
different situations – deductions– calculation of taxable income from house property.

Module III Income from Business and Profession

Profits & Gains of Business & Profession – Introduction, Basic Principles, Basic
 Amity Online
MBA International Finance
Principles, Computation of Taxable profits of Business & Profession, deductions,
problems.

Module IV Income under the head Capital gains and Other sources
Income from Capital Gains:-Introduction, Meaning & types of capital assets,
Computation of Capital Gains, Problems. Income from Other Sources:- Introduction,
Meaning, Basis of charge U/S 56, Deductions U/S 57, various incomes and their
treatment, income of a minor child. Computation of taxable income from other \
sources, Problems.

Module V Computation of Total Income and Tax including tax management and
GST
Direct Tax Code, Total Income and Tax Computation:- Income of other persons
included in assessee’s total income, aggregation of income & set off and carry forward
of losses, deduction from gross total income, computation of total income of
individuals and firms. GST - goods and services tax, scope, registration, time and place of
supply of goods, computation of GST, returns, refunds and representations. Filing of
return, penalties & appeals.

Overview of Tax Management:- Time limit of filing of Return of Income- PAN, TAN,
TDS Provisions & Procedures of compulsory online filing of Returns for specified
assessee’s assessment procedures.

Reference books
1. Dr. B.K.Agarwal, Income Tax Law & practice – Sahitya Bhawan Publication, 2014.
Dr. Rajiv Mehrotra, Income Tax Law & Practice, 2014.
2. Dr. Girish Ahuja & Dr. Ravi Gupta Simplified Approach to Corporate Tax Planning &
Management (Bharat Law House), 2014 Systematic Approach to Income Tax.
3. Girish Ahuja and Ravi Gupta Corporate Tax Planning & Management Bharat Law
House 2014. Kaushal Kumar Agrawal, Corporate Tax Planning, , Vol. 1, 2014
4. Rajeev Puri, Corporate Tax Planning and Management, 2014
5. R.N. Lakhotia, Corporate Tax Planning Handbook, 2014 Ghosh, R.K. & Saha, S.,
Income Tax Rules, Taxman ND 2014
6. Singhania V K, 2014, Direct Taxes Planning and Management, Taxmann.
7. Taxmann's statutory manual for chartered accountants, company secretaries, cost and
works accountants, advocates
 Amity Online
MBA International Finance

Performance Management
Course objective:
CO1 This paper underpins the knowledge and skills in the area of management accounting
CO2 Apply the same to evaluate the performance of an entity with the help of budgetary
control and standard costing tools.
CO3 The aim is to set out performance measurement in the context of business objectives.
CO4 Application of risk scenarios in pricing decisions impacting the business
performance
CO5 Students will understand the technology and employability as the need for the hour
relevant with performance management

Learning outcomes:
LO1 Understand & apply modern techniques of management accounting and
performance management in private sector and not-for-profit organisation
LO2 Understand budgeting and standard costing and variance analysis towards better
management
LO3 Understand & apply decision making techniques in the context of resource
optimisation, risk mitigation, promote efficiency
LO4 Divisional performance and transfer pricing and behavioural considerations in
performance management
LO5 Understand technological advancements and employability requirements

Course Content
Module 1: Advanced management accounting techniques
Activity-based-costing – cost drivers, calculation of costs per driver & per unit – Target costing
– derive a target cost in manufacturing & service industry - Life cycle costing – costs involved
at different stages of life cycle –Throughput accounting – theory of constraints –Throughput
Accounting Ratio (TPAR) – application in a multi-product entity; and environmental
accounting – management of environmental costs – accounting for environment costs
Module 2: Advanced budgetary control and standard costing
Budgetary systems such as top-bottom, bottom-up, rolling, zero based, activity based,
incremental budgets, flexed budgets – quantitative analysis using high-low method, applying
learning curve model – Advanced variance analysis with material mix & yield variances, sales
mix & quantity variances, planning & operational variances – performance analysis with
variances – assigning the variances to the managers
Module 3: Pricing and decision making techniques
Concept of relevant costs – determination of relevance with regard to a contextual decision –
opportunity costs – cost-volume-profit (CVP) relationship –Break-even point and margin of
safety – estimation of target profit in single & multi-product scenario – resource optimisation
 Amity Online
MBA International Finance
in light of limiting factors – single or multiple factors – make or buy decisions. Factors affecting
pricing of product or services – price elasticity of demand – demand equation – calculate
optimum selling price with MR = MC equation – pricing strategies such as skimming,
penetration, differential, cost-plus pricing - Explain the uses and benefits of big data and data
analytics for planning, costing, decision-making and performance management - Discuss the
challenges and risks of implementing and using big data and data analytics in an organization
Module 4: Performance analysis and divisional performance
Understand & apply financial & non-financial performance indicators (KPIs) – using Norton’s
Balanced Scorecard model and Fitzgerald & Moon’s Building Block model for performance
measurement – using Value-for-money approach for not-for-profit organisations – economy,
efficiency & effectiveness approach - Mechanism for evaluating the performance of a business
division and the divisional managers – tools such as Return on Investment (ROI), Residual
Income (RI) – impact of transfer pricing on divisional performance – methods of setting transfer
prices
Module 5: Risk analysis in business decisions and behavioural considerations,
Employability and technology
Understand the risk & uncertainty in short term and their impact on business decisions - apply
techniques of maximax, maximin and minimax regret – use of expected value technique –
decision tree – value of perfect & imperfect information - Need to factor external considerations
in performance management such as environment, market conditions and stakeholder impact –
illustrate how behavioural aspects affect the performance of an organisation - External
considerations and the impact on performance. The technical skills and requirements a
professional must be updated with.
Reference Books:

● ACCA reference books by Kaplan

● Performance Management - Dr. C. Appa Rao
● Performance Management - Soumendra Narain Bagchi
● Basic Costing- theory & Practice, By- A. K. Singhal
● Cost & Management Accounting, By- Ravi M. Kishore (taxman)
● Cost management – P.C.Tulsian (Tata Mc Graw Hill)
 Amity Online
MBA International Finance

Financial Reporting

Course objective:

CO1 The conceptual framework that is applicable to corporate entities & the course
underpins the knowledge & understanding of various accounting standards
CO2 Additionally, application of accounting standards in preparation of financial
statement & the students will learn how to prepare financial statements for
individual entities for the use of shareholders.
CO3 The course underpins the knowledge & understanding of various accounting
standards and the conceptual framework that are applicable to corporate entities.
CO4 The students will learn the basics of group entities and how to prepare financial
statements for group entities & introduction to associate investment and
accounting for associates in consolidated financial statements.
CO5 Students will learn to analyse and interpret the financial statement of an individual
and group entity.

Learning outcomes:

LO1 Understanding the conceptual framework

LO2 Understanding the use and application of the accounting standards
LO3 Application of the accounting standards to various business contexts
LO4 Preparation of individual and group financial statements & interpretation and
analysis of financial statements.
LO5 Employability and technology skills

Module 1: Use of IFRS and Ind AS

Understand the application of IFRS in India through the use of Ind AS – the applicability of
Ind AS – the mapping of Ind AS to IFRS – differences between IFRS & Ind AS – the list of
IFRS (Ind AS) – Process of transition to IFRS for the first time-Conceptual & Regulatory
Framework.

Module 2: Application of IFRS (Ind AS) for transactions

Asset based standards such as PPE, Intangible assets, borrowing costs, impairment of assets,
inventory & biological assets, provisions & contingencies, events after reporting period,
accounting policies, estimates & errors, Standards related to Incomes Taxes, cash flows,
Government Grants, effects of changes in foreign exchange rates, investments in associates &
joint ventures, leases, financial instruments (excluding hedge accounting & impairment of
financial assets), earnings per share, investment property, non-current assets held for sale and
fair value measurement, Understand the principles of recognising revenue of the business –
revenue recognition for goods, services, interest and dividends – concept of deferred income
and accounting thereof
 Amity Online
MBA International Finance

Module 3: Preparation & presentation of financial statements

Thorough knowledge of preparation & presentation of financial statements by incorporating

the effects of the accounting standards (covered in module 2& 3 only) - statement of profit or
loss and other comprehensive income – statement of financial position (Balance sheet)
Preparation of statement of changes to equity and cash flow statements for a single entity,
statement of profit or loss and balance sheet with adjustments pertaining to the standards
covered in module 1), concepts and preparation of statement of cash flows

Module 4: Consolidation

Concept of group – concepts of parent, subsidiary & associate – concept of control of parent
over subsidiary – concept of non-controlling interest – basics of consolidation – identify which
entity should prepare consolidated financial statements- Consolidated financial statements
(excluding group cash flow statement) for a simple group with one subsidiary and/or one
associate – computation of fair value of net assets, goodwill and Non-Controlling Interest (NCI)
on date of acquisition -computation of group reserves on date of consolidation – fair value
adjustments on consolidation – effects of intra-group trading on consolidation – effect of
disposal of parent’s investment in subsidiary in parent’s individual financial statements and in
consolidated financial statements

Module 5: Analysis of financial statements

Analyse the financial performance of an entity using the financial statements – use of ratios in
performance evaluation – trend analysis – comparison with competition or industry average-
Concept of integrated reporting – use of integrated reporting by companies – types of capital
used in integrated reporting – principles of integrated reporting

Reference Books:
● ACCA approved study material by Kaplan
● M P Vijay Kumar: Financial Reporting, Snow white.
● S Anil Kumar, V Rajesh Kumar & B Mariyappa: Himalaya Publishing House
● S Raman,: Advance Financial Accounting, United Publishers
 Amity Online
MBA International Finance
Audit & Assurance

Course Outcomes:

CO1 Explain the concept of audit and assurance and the functions of audit, corporate
governance, including ethics and professional conduct.
CO2 Demonstrate how the auditor obtains and accepts audit engagements, obtains an
understanding of the entity and its environment, assesses the risk of material
misstatement and plans an audit of financial statements
CO3 Describe and evaluate internal controls, techniques and audit tests, including IT
systems to identify and communicate control risks and their potential
consequences, making appropriate recommendations. Describe the scope, role
and function of internal audit
CO4 Identify and describe the work and evidence obtained by the auditor and others
required to meet the objectives of audit engagements and the application of the
International Standards on Auditing (ISAs)
CO5 Explain how consideration of subsequent events and the going concern principle
can inform the conclusions from audit work and are reflected in different types
of auditor’s report, written representations and the final review.

Learning Outcome

LO1 Understand the audit framework relating to audit and assurance engagements and
regulation on external audit. Be able to apply the fundamental principles of
professional ethics. Understand and evaluate good corporate governance
requirements.
LO2 Understand the preconditions of an audit. Appreciation of the essential quality of
professional skepticism and use of professional judgment. Be able to assess audit
risk as compared to business risk. Understand the effect of fraud and
misstatement on audit strategy.
LO3 Understand the components of internal control system. Evaluate systems controls
and necessity for evaluation of these controls by the external auditor. Understand
the internal audit function. Learn about various types of internal audit
assignments.
LO4 Be able to design audit procedures for gathering sufficient and appropriate
evidence relating to various elements in the financial statements.
LO5 Understand various audit assertions in relation to transactions and account
balances. Be able to frame substantive and analytical procedures for gathering
audit evidence. Understand the use of automated tools in auditing. Understand
the audit completion and review procedures. Appreciate the format of the
auditor's report and various types of audit opinions.

Module 1: Audit framework & regulation

Concept of audit & assurance – professional ethics of an auditor – scope of internal & external
audit – governance & audit – Ethical threats & Safeguards - discuss the importance and purpose
of engagement letters and their contents
 Amity Online
MBA International Finance
Module 2: Audit planning & risk assessment

Obtaining & planning for audit assignments - identify and explain the need for, benefits of and
importance of planning an audit– understanding the entity & its environment – assessing audit
risk – fraud risk – interim audit and impact of work performed - audit planning &
documentation – audit evidence, documentation, audit sampling and working papers

Module 3: Internal control & audit procedures

Internal control system assessment – control environment, risk assessment procedures,

monitoring of controls – evaluation of internal control system by auditor – test of control –
communication on internal controls-Explain how auditors record internal control systems
including the use of narrative notes, flowcharts, organigrams and internal control
questionnaires.
Module 4: Audit of specific items

Audit of receivables, inventory, payables & accruals, bank & cash, tangible & intangible assets,
share capital & reserves, directors’ remuneration – details of audit checks for these items and
reporting thereof – use of management representation.

Module 5: Audit evidence & reporting

Techniques of collecting audit evidence such as inspection, observation, external

confirmation, recalculation, analytical procedures, and enquiry – quality & quantity of audit
evidence – audit sampling – computer assisted auditing techniques – explain the use of
automated tools and techniques in the context of an audit including the use of audit software,
test data and other data analytics tools – discuss and provide relevant examples of the use of
automated tools and techniques - review procedures including subsequent events, going
concern, written representations – auditor’s report contents & opinion-Explain the overall
objectives and importance of quality control procedures in concluding an audit.- Discuss the
need for auditors to communicate with those charged with governance.

Recommended books

● Audit and Assurance: Kaplan Publishing

● Audit and Assurance: BPP learning media
● Audit and Assurance: Emily Woolf International
● S.K Basu: Auditing Principles & Techniques, Pearson
 Amity Online
MBA International Finance

International Financial Management

Course Objectives

CO1 Understand and apply the role and purpose of finance functions and
management in an organization

CO2 Discuss, evaluate and apply various working capital management

techniques

CO3 Application of principles of different business evaluation techniques and

evaluate alternative sources of business finance.

CO4 To be able to apply various investment appraisal techniques

CO5 Explanation and application of risk management techniques in business.

Learning Outcome

LO1 Understanding the nature, purpose, objective of financial management

function and financial management environment.

LO2 Analyzing the nature, elements and importance of working capital

management and determining working capital needs and funding strategies
LO3 To be able to understand the different sources of finance, capital structure
theories, financing needs and cost of capital. Application of business
valuation models and the concept of behavioral finance.
LO4 To be able to apply various investment appraisal techniques and
understanding of specific investment decisions.

LO5 Understanding the nature, types and approaches to risk management and its
causes. Application of different hedging techniques for foreign currency
risk and interest rate risk.

Course Content

Unit 1: Financial management function & financial management environment

The nature and purpose of financial management, Financial objectives and relationship with
corporate strategy, Stakeholders and impact on corporate objectives, Financial and other
objectives in not for-profit organisations, The economic environment for business, The nature
and role of financial markets and institutions, the nature and role of money markets.
 Amity Online
MBA International Finance

Unit 2: Working capital management

The nature, elements and importance of working capital, Management of inventories,

accounts receivable, accounts payable and cash, determining working capital needs and
funding strategies.

Unit 3: Business finance & Business valuations

Sources of, and raising, business finance, Estimating the cost of capital, Sources of finance
and their relative costs, Capital structure theories and practical considerations, Finance for
small- and medium sized entities (SMEs), Nature and purpose of the valuation of business
and financial assets, Models for the valuation of shares, The valuation of debt and other
financial assets, Efficient market hypothesis (EMH) and practical considerations in the
valuation of shares.

Unit 4: Investment appraisal

Investment appraisal techniques, allowing for inflation and taxation in DCF, Adjusting for
risk and uncertainty in investment appraisal, Specific investment decisions (lease or buy, asset
replacement, capital rationing).

Unit 5: Risk management

The nature and types of risk and approaches to risk management, Causes of exchange rate
differences and interest rate fluctuations, Hedging techniques for foreign currency risk,
Hedging techniques for interest rate risk.

Required references

● ACCA F9: Financial Management material from Kaplan Publishers

● Fundamentals of Financial Management, A.P.Rao (Everest Publishing House)
● Basics of Financial Management, V.K. Saxena and C.D.Vashist (Sultan Chand & Sons)
● Working Capital Management, Theory and Practice, Dr. P. Periasamy (Himalaya
Publishing)
● Financial Management, Shashi K. Gupta and R.K. Sharma (Kalyani Publication)