M.COM Sem-2
BUSINESS ENVIRONMENT AND POLICY
| Course Code: LMM0201 | Course Title: Business Environment and Policy (4 Credits) |
| Program Objective:- The M.Com program aims to develop proficient professionals with expertise in commerce, finance, and business management through quality, bilingual education. It enhances analytical, research, and strategic decision-making skills while fostering leadership and entrepreneurial abilities to prepare students for successful careers and innovation in the corporate and academic sectors.
Course Objectives: – Ø Develop profound understanding of cost concepts and classifications Ø Master various costing methods and their applications Ø Learn to analyze and control costs effectively Ø Understand strategic cost management techniques Ø Acquire skills in decision-making using cost information |
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Course Content
| Unit | Unit Description | Learning Outcome |
| 1 | Fundamentals of Cost Analysis
Cost concepts and classifications, cost behavior patterns, Cost-Volume-Profit (CVP) analysis, break-even analysis and profit planning, and multi-product break-even analysis. |
Analyze different cost types, cost behavior, and their impact on profit planning using CVP and break-even analysis. (BL 4: Analyzing, BL 5: Evaluating) |
| 2 | Cost Accumulation Systems
Job costing systems, process costing systems, operation costing, hybrid costing systems, and service department cost allocation. |
Apply job, process, and hybrid costing methods, and evaluate their effectiveness in different industries. (BL 3: Applying, BL 5: Evaluating) |
| 3 | Standard Costing and Variance Analysis
Setting standards for materials, labor, and overhead, computation and analysis of variances, disposition of variances, and reporting and investigation of variances. |
Analyze cost variances, establish standards, and design corrective measures for effective cost control. (BL 4: Analyzing, BL 6: Creating) |
| 4 | Budgetary Control Systems
Types of budgets, preparation of functional budgets, fixed and flexible budgeting, zero-based budgeting, and performance budgeting. |
Develop and evaluate budgetary control systems, including flexible and zero-based budgeting techniques. (BL 3: Applying, BL 5: Evaluating) |
| 5 | Advanced Cost Control Technique
Activity-Based Costing (ABC), target costing, life cycle costing, Kaizen costing, and value chain analysis. |
Implement Activity-Based Costing, target costing, and life cycle costing for continuous cost improvement. (BL 3: Applying, BL 4: Analyzing) |
| 6 | Strategic Cost Management
Strategic positioning analysis, cost driver analysis, strategic cost reduction, competitive advantage through cost leadership, and strategic pricing decisions. |
Analyze cost drivers, strategic positioning, and cost leadership strategies for competitive advantage. (BL 4: Analyzing, BL 5: Evaluating) |
| 7 | Decision Making using Cost Information
Relevant costing principles to make-or-buy decisions, product mix decisions, pricing decisions, and capital investment decisions. |
Apply relevant costing principles to make-or-buy, pricing, product mix, and investment decisions. (BL 3: Applying, BL 5: Evaluating) |
| 8 | Quality Cost Management
Quality cost concepts, including prevention costs, appraisal costs, internal and external failure costs, and quality cost reporting and control. |
Analyze quality cost components and implement quality improvement programs for cost efficiency. (BL 4: Analyzing, BL 5: Evaluating) |
| 9 | Cost Control in Manufacturing Environment
Just-in-Time (JIT) systems, Total Quality Management (TQM), lean manufacturing principles, supply chain cost management, and inventory control systems. |
Apply JIT, TQM, and lean manufacturing techniques to optimize costs in manufacturing. (BL 3: Applying, BL 4: Analyzing) |
| 10 | Service Sector Costing
Characteristics of service sector costs, service sector cost allocation, customer profitability analysis, service quality costs, and pricing strategies in the service sector. |
Develop pricing strategies, customer profitability analysis, and cost control methods for service operations. (BL 3: Applying, BL 4: Analyzing) |
| 11 | Environmental Cost Management
Environmental cost identification, measurement, allocation, reporting, and sustainability cost management. |
Identify, measure, and evaluate environmental costs and sustainability initiatives. (BL 4: Analyzing, BL 5: Evaluating) |
| 12 | Performance Measurement System
Balanced Scorecard, Key Performance Indicators (KPIs), responsibility accounting, transfer pricing, and performance evaluation methods. |
Implement balanced scorecards, KPIs, and performance evaluation methods for cost management. (BL 3: Applying, BL 5: Evaluating) |
| 13 | Cost Information System
Cost accounting information systems, Enterprise Resource Planning (ERP), cost databases, cost reporting systems, and integration with financial accounting systems. |
Develop cost accounting information systems and integrate them with ERP and financial systems. (BL 3: Applying, BL 4: Analyzing) |
| 14 | Contemporary Issues in Cost Management
Digital transformation in cost management, Artificial Intelligence (AI) in cost control, blockchain applications, big data analytics in cost management, and emerging trends in cost analysis. |
Evaluate digital transformation, AI, blockchain, and big data applications in cost management. (BL 4: Analyzing, BL 5: Evaluating) |
| Textbook References:
1. Cost Accounting: Principles and Practice by Dr. B.K. Mehta 2. Advanced Cost Accounting by M.N. Arora 3. Cost Analysis and Control by Dr. S.N. Maheshwari and Dr. Suneel K. Maheshwari 4. Cost and Management Accounting by Dr. M.C. Shukla & T.S. Grewal 5. Advanced Cost & Management Accounting by Dr. R.K. Sharma & Dr. K. Gupta
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(Bloom’s Taxonomy: BT level 1: Remembering; BT level 2: Understanding; BT level 3: Applying; BT level 4: Analyzing; BT level 5: Evaluating; BT level 6: Creating)
MANAGEMENT ACCOUNTING
| Course Code: LMM0202 | Course Title: Management Accounting (4 Credits) |
| Program Objective:- The M.Com program aims to develop proficient professionals with expertise in commerce, finance, and business management through quality, bilingual education. It enhances analytical, research, and strategic decision-making skills while fostering leadership and entrepreneurial abilities to prepare students for successful careers and innovation in the corporate and academic sectors.
Course Objectives: – Ø Understand the concepts and frameworks of management accounting and differentiate it from other accounting systems. Ø Analyze financial statements and ratios to interpret organizational performance. Ø Evaluate various budgeting and cost-control techniques to enhance decision-making. Ø Apply marginal costing, standard costing, and cost-volume-profit analysis for solving managerial problems. Ø Develop solutions to complex managerial issues using relevant costs and working capital management strategies. |
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Course Contents
| Unit | Unit description | Learning Outcome |
| 1 | Introduction-Management Accounting, Financial Accounting Information, Techniques of management accounting, Comparison of financial and management accounting. | Students will be able to define management accounting, explain its techniques, and differentiate it from financial accounting. (BT Level 1 & 2 – Remembering & Understanding) |
| 2 | Role of cost in decision making- Comparison of Management Accounting and Cost Accounting, types of cost, cost concepts, | Students will be able to compare management accounting with cost accounting and explain different types and concepts of cost. (BT Level 2 – Understanding) |
| 3 | Elements of cost– Materials, Labour and overheads and their allocation and apportionment, Preparation of Cost Sheet, Methods of Costing, Reconciliation of Cost and Financial Accounting. | Students will be able to identify the elements of cost (materials, labor, and overheads), apply cost allocation methods, and reconcile cost and financial accounting. (BT Level 2 & 3 – Understanding & Applying) |
| 4 | Process Costing- Cost flow in process costing, cost accumulation in process costing, process costing for decision making and cost control. | Students will be able to analyze cost accumulation and flow in process costing and apply it for cost control and decision-making. (BT Level 3 & 4 – Applying & Analyzing) |
| 5 | Marginal Costing: Marginal Costing versus Absorption Costing, Cost-Volume-Profit Analysis and P/V Ratio Analysis and their implications, Concept and uses of Contribution & Breakeven Point and their analysis for various types of decision-making like single product pricing, multi-product pricing, replacement, sales etc. | Students will be able to evaluate marginal costing and absorption costing, perform cost-volume-profit analysis, and use break-even analysis for decision-making. (BT Level 2 & 4 – Understanding & Analyzing) |
| 6 | Differential Costing and Incremental Costing: Concept, uses and applications, Methods of calculation of these costs and their role in management decision making like sales, replacement, buying etc. | Students will be able to compute differential and incremental costs and apply them in management decisions related to pricing, replacement, and sales. (BT Level 3, 4 & 5 – Applying, Analyzing & Evaluating) |
| 7 | Budget-Definition, classification of budget and budget procedure. | Students will be able to define budgeting, classify different types of budgets, and explain the budget preparation process. (BT Level 2 & 3 – Understanding & Applying) |
| 8 | Budgetary Control-Budgetary control, Fixed and flexible budgeting, revision of budgets, zero-based budgeting, Performance report. | Students will be able to analyze budgetary control methods, evaluate fixed and flexible budgeting, and apply zero-based budgeting techniques. (BT Level 4 & 5 – Analyzing & Evaluating) |
| 9 | Standard Costing-Standard cost, Estimated cost, establishing cost standards, budgetary control and standard costing | Students will be able to develop cost standards, differentiate between estimated and standard costs, and create budgetary control systems. (BT Level 5 & 6 – Evaluating & Creating) |
| 10 | Material Variances and Labour Variances-Material price variance, Usage Variance, total material variance, Labour Variance-Rate Variance, Efficiency variance, Total labour variance. ` | Students will be able to calculate material price and usage variances, analyze labor variances, and apply variance analysis for performance evaluation. (BT Level 2, 3 & 4 – Understanding, Applying & Analyzing) |
| 11 | Overhead Variance and Sales Variance-Variable overhead variance, Volume variance, Sales margin Price Variance, Sales margin volume variance. | Students will be able to compute variable overhead, volume, and sales variances and apply variance analysis for business decision-making. (BT Level 2, 3 & 4 – Understanding, Applying & Analyzing) |
| 12 | Activity Based Costing-Traditional costing system, Steps in overhead allocation, activity based costing system. | Students will be able to differentiate between traditional and activity-based costing systems and analyze the steps in overhead allocation. (BT Level 3 & 4 – Applying & Analyzing) |
| 13 | Responsibility Accounting- Concept and various approaches to responsibility accounting, cost centre, profit centre, investment center, responsibility centre. | Students will be able to evaluate responsibility accounting approaches, differentiate between cost, profit, and investment centers, and create responsibility accounting frameworks. (BT Level 5 & 6 – Evaluating & Creating) |
| 14 | Transfer Pricing-Methods of transfer pricing and general rule for transfer pricing. | Students will be able to define transfer pricing, explain its methods, and understand the general rules governing transfer pricing decisions. (BT Level 1 & 2 – Remembering & Understanding) |
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Textbook References: 1. Shah Paresh, Management Accounting, Oxford Higher Education Other References: 1. Horngren, Charles T., Datar, Srikant M., & Rajan, Madhav V. Cost Accounting: A Managerial Emphasis. Pearson Education. 2. Khan, M.Y., & Jain, P.K. Management Accounting: Text, Problems and Cases. McGraw Hill Education. 3. Maheshwari, S.N., & Mittal, S.N. Cost Accounting and Financial Management. Sultan Chand & Sons. 4. Drury, Colin. Management and Cost Accounting. Cengage Learning. 5. Bhattacharya, Ashish K. Cost Accounting for Business Managers. Elsevier. |
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(Bloom’s Taxonomy: BT level 1: Remembering; BT level 2: Understanding; BT level 3: Applying; BT level 4: Analyzing; BT level 5: Evaluating; BT level 6: Creating)
MARKETING MANAGEMENT
| Course Code: LMM0203 | Course Title: Marketing Management (4 Credits) |
| Program Objective:- The M.Com program aims to develop proficient professionals with expertise in commerce, finance, and business management through quality, bilingual education. It enhances analytical, research, and strategic decision-making skills while fostering leadership and entrepreneurial abilities to prepare students for successful careers and innovation in the corporate and academic sectors.
Course Objectives: – Ø Understand comprehensive and practical introduction to marketing management. Ø Improve their ability to make effective marketing decisions. Ø Assessing marketing opportunities Ø Developing marketing strategies and implementation plans. |
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| Unit | Unit description | Learning Outcome |
| 1 | Introduction: Understanding marketing in modern contexts, defining marketing tasks, and adapting to new market realities. | Students will be able to define marketing in the modern business environment and explain key marketing tasks. (BL 1 & 2 – Remembering & Understanding) |
| 2 | Marketing Concepts and scope: Exploring the scope of marketing, fundamental marketing concepts, and emerging marketing trends. | Students will be able to describe the scope of marketing, understand core marketing concepts, and apply knowledge to analyze new marketing realities. (BL 1, 2 & 3 – Remembering, Understanding & Applying) |
| 3 | Developing Marketing Strategies and Plans: Strategic planning at corporate, division, and business levels to align with market objectives. | Students will be able to develop marketing strategies and plans by integrating corporate, division, and business-level strategic planning. (BL 3 – Applying) |
| 4 | Marketing Process: Strategic marketing planning, customer value creation, and enhancing satisfaction and loyalty. | Students will be able to explain the strategic marketing process and apply techniques for building customer value, satisfaction, and loyalty. (BL 2 & 3 – Understanding & Applying) |
| 5 | Conducting Marketing Research: Understanding the scope of marketing research, its processes, and techniques for measuring marketing effectiveness. | Students will be able to analyze the scope of marketing research, evaluate research methodologies, and assess marketing productivity. (BL 3, 4 & 5 – Applying, Analyzing & Evaluating) |
| 6 | Analysing Consumer Market: Examining consumer behavior and the key factors influencing purchasing decisions. | Students will be able to analyze consumer behavior and identify key factors influencing buying decisions. (BL 4 – Analyzing) |
| 7 | Buying Decision Process: Understanding organizational buying behavior, key participants, and the stages of the purchasing process. | Students will be able to assess the organizational buying process, evaluate participants involved, and analyze different buying stages. (BL 4 & 5 – Analyzing & Evaluating) |
| 8 | Building Strong Brands: Identifying market segments, targeting audiences, developing brand positioning, and managing brand equity. | Students will be able to segment markets, target customers, position brands, and evaluate strategies for managing brand equity. (BL 3 & 5 – Applying & Evaluating) |
| 9 | Creating value through product: Exploring product characteristics, classifications, differentiation strategies, product life cycle, and related marketing approaches. | Students will be able to design product differentiation strategies, classify product characteristics, and develop marketing strategies based on the product life cycle. (BL 6 – Creating) |
| 10 | Creating value through price: Formulating and implementing effective pricing strategies and programs. | Students will be able to formulate pricing strategies and programs to maximize market value and competitiveness. (BL 6 – Creating) |
| 11 | Managing Marketing Channels: Understanding channel functions, levels, flow, and decision-making in channel design. | Students will be able to analyze the roles, functions, and design decisions involved in marketing channel management. (BL 4 & 5 – Analyzing & Evaluating) |
| 12 | Designing Integrated Marketing Communication: Defining the role of marketing communication and crafting effective communication strategies. | Students will be able to develop effective marketing communication strategies and evaluate their role in brand positioning. (BL 5 & 6 – Evaluating & Creating) |
| 13 | Managing Integrated Marketing Communication: Overseeing the integrated marketing communication process, including advertising, sales promotions, events, and public relations. | Students will be able to analyze the integrated marketing communication process and evaluate advertising, sales promotion, events, and public relations strategies. (BL 4 & 5 – Analyzing & Evaluating) |
| 14 | Managing digital communication: Leveraging online, social media, and mobile platforms for effective digital marketing. | Students will be able to evaluate online, social media, and mobile marketing strategies for effective digital communication. (BL 4 & 5 – Analyzing & Evaluating) |
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Text book References: – · Kotler, P. and Keller, K.L. (2016), “Marketing Management”, 15th Edition, New Delhi: Pearson Education. · Saxena, Rajan. (2019), “Marketing Management”, 6th Edition, McGraw Hill Education
Other References · Grewal, D. and Levi, M. “Marketing,” 5th Edition, Chennai: McGraw Hill Education. · Kotler, P., Jain, D.C. and Measincee, S. (2002), “Marketing Moves: A New Approach to Profit Growth and Renewal”, Boston: Harvard Business School Press. NOTE: All learning outcomes are based on six levels of Bloom’s Taxonomy. |
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(Bloom’s Taxonomy: BL level 1: Remembering; BL level 2: Understanding; BL level 3: Applying; BL level 4: Analyzing; BL level 5: Evaluating; BL level 6: Creating)
BUSINESS ENVIRONMENT AND POLICY
| Course Code: LMM0204 | Course Title: Business Environment and Policy (4 Credits) |
| Program Objective:- The M.Com program aims to develop proficient professionals with expertise in commerce, finance, and business management through quality, bilingual education. It enhances analytical, research, and strategic decision-making skills while fostering leadership and entrepreneurial abilities to prepare students for successful careers and innovation in the corporate and academic sectors.
Course Objectives: – Ø To develop students’ comprehensive understanding of business environment components and their ability to analyze the complex interplay between internal and external environmental factors affecting business operations. Ø To enable students to interpret and evaluate the impact of various government policies (industrial, fiscal, monetary) and regulatory frameworks on business operations, with specific emphasis on the Indian context and economic reforms. Ø To enhance students’ understanding of international business dynamics, including the role of multinational corporations, international economic institutions, and the impact of globalization on business operations across borders. Ø To cultivate students’ ability to apply various environmental scanning techniques and analytical tools for effective business decision-making, including competitive analysis and environmental forecasting methods. Ø To develop students’ appreciation of socio-cultural and demographic factors in business operations, including social responsibility, ethical considerations, and the unique characteristics of Indian business systems in the global context. |
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COURSE CONTENT
| Unit | Unit Description | Learning Outcome |
| 1 | Business Environment: Concept, significance and Scope of business environment. | Explain the concept, significance, and scope of business environment in contemporary organizations. (BL 2: Understanding) |
| 2 | Elements of Business environment -internal and external; Techniques of environmental scanning and monitoring. | Analyze different techniques of environmental scanning and monitoring for effective business operations. (BL 4: Analysing) |
| 3 | Economic Environment of Business: Significance and elements of economic environment; Economic planning in India; | Evaluate the impact of economic planning and various economic elements on business operations in India. (BL 5: Evaluating) |
| 4 | Government policies -industrial policy, fiscal policy, monetary policy; Economic reforms, liberalization and structural adjustment programmes. | Analyse the implications of industrial, fiscal, and monetary policies on business operations in the context of economic reforms. (BL 4: Analysing) |
| 5 | Political and Legal Environment of Business: Critical elements of political environment; Government and business; | Examine the relationship between government and business in the context of political environment.(BL 4: Analysing) |
| 6 | Changing dimensions of legal environment in India; Competition Act, FEMA and licensing policy. | Apply the principles of Competition Act, FEMA, and licensing policy in business scenarios. (BL 3: Applying) |
| 7 | Socio-Cultural Environment: Critical elements of socio-cultural environment; Social institutions and systems. | Analyse the critical elements of socio-cultural environment and their impact on business operations.(BL 4: Analysing) |
| 8 | Demographic environment population size, migration and ethnic aspects, birth rate, death rate and age structure. | Evaluate demographic factors affecting business decisions including population dynamics, migration patterns, and age structure. (BL 5: Evaluating) |
| 9 | Social values and attitudes; Social groups; Middle class; Dualism in Indian society and problems of uneven income distribution; Emerging rural sector in India; Indian business system; Social responsibility of business. | Analyse the impact of social values, attitudes, and income distribution on Indian business systems. (BL 4: Analysing) |
| 10 | International Environment: Multinational corporations; Foreign collaborations and Indian business. | Examine the role of multinational corporations and foreign collaborations in Indian business context. (BL 4: Analysing) |
| 11 | International economic institutions – WTO, World Bank. IMF and their importance to India; Foreign Trade Policies. | Evaluate the significance of WTO, World Bank, and IMF in relation to Indian business environment. (BL 5: Evaluating) |
| 12 | Globalization & its impact: Meaning, objectives, importance & scope of Globalization Effect & challenges of Globalization, Review, Impact and implication Globalization. | Analyse the impact, implications, and challenges of globalization on business operations. (BL 4: Analysing) |
| 13 | Environmental Analysis: Meaning and importance – Techniques of Analysis-Verbal and Written Information Search and scanning, Spying, Forecasting, Limitations of these techniques, Competitions analysis – Rivalry Amongst existing firms, threat of new entrants threat of substitutes – Bargaining power of suppliers and buyers, Global Environment Natural, Social, Cultural, Demographic and Technological environment and its impact on world trade. | Create comprehensive environmental analysis using various techniques and competitive analysis frameworks. (BL 6: Creating) |
| 14 | Business Environment with reference to India. | Evaluate the unique characteristics and challenges of Indian business environment in the global context. (BL 5: Evaluating) |
| Textbook References:
1. Adhikary, M: Economic Environment of Business, Sultan Chand & Sons. New Delhi. 2. Ahluwalia, I.J: Industrial Growth in India, Oxford University Press, Delhi. 3. Alagh, Y.K: Indian Development Planning and Policy, Vikas Pub, New Delhi. 4. Aswathappa, K: Legal Environment of Business, Himalaya Publication, Delhi. 5. Chakravarty, S: Development Planning, Oxford University Press, Delhi. 6. Ghosh, Biswanath: Economic Environment of Business, Vikas Publication, New Delhi. 7. Ramaswamy, V.S. and Nama Kumari: Strategic Planning for Corporate Success, Macmillian, New Delhi. 8. Sengupta, N.K: Government and Business in India, Vikas Publication, New Delh.
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(Bloom’s Taxonomy: BL level 1: Remembering; BL level 2: Understanding; BL level 3: Applying; BL level 4: Analyzing; BL level 5: Evaluating; BL level 6: Creating)