National Institute of Financial Management
National Institute of Financial Management
The Programme titled Post Graduate Diploma in (Financial) Management is a two-year full time Programme for senior executives from the Government, public and the private corporate sector. The Programme is duly recognized by the All India Council of Technical Education (AICTE) and has also been recognized as equivalent to a Master’s programme in Management by the Association of Indian Universities (AIU).
The programme, designed under the overall guidance of a high level Academic Advisory Committee, features the contents of similar programmes run by the best ‘B-schools’ of national and international repute within India and abroad. The programme sensitizes the participants to the contemporary concerns facing the Government and the Corporate Sector, as also the country as a whole
This programme has factored in the inputs that would capture the latest approach of the Government to enter into various ventures with private partners. This has thrown open new vistas of challenge for the private corporate sector and requires the private corporate sector to understand and appreciate the business environment on different footings. Accordingly, the understanding of fiscal and financial functioning of the Government would be of great significance for the executives of corporate sector in meeting the challenges of corporate financial management.
The programme addresses the key issues in Public Financial Management. It has been designed with care to capture the myriad issues that impact governance and the corresponding delivery by the public authorities. As Governments, in the various States as well as the Centre, are increasingly concerned for timely and quality delivery, the requisite managerial skills and capacity development become critical.
The Programme is therefore, designed to facilitate capacity development in the Government as well as in the corporate sector to meet the emerging economic and social aspirations.
The effective delivery of the programme requires proper appreciation of ‘Applied Information Technology’ by all participants. The institute facilitates the participants towards application of Information Technology in various papers not only by having designed the appropriate curriculum but also by providing the best possible IT infrastructure
Syllabus
FIRST YEAR
101 Accounting for Managers
102 Managerial Economics
103 Information and Communication Technology for Managers
104 Management of Organization and People
105 Business Mathematics
106 Corporate Communication
107 Public Financial Administration
Second Trimester
201 Management Accounting
202 Financial Markets and Institutions
203 Direct and indirect Taxes : Planning and Control
204 Business and Corporate Laws
205 Financial Reporting Standards
206 Financial Management –
207 Business Data Network
Third Trimester
301 Human Resource Management 3 40 34
302 Marketing Management 3 40 35-36
303 Information Technology (IT) for Finance 3 40 37-38
304 Business Statistics 1 ½ 30 39
305 Research Methodology
306 Financial Management – II
Electives
307 Accounting in Government and Not for Profit Organizations or
308 Enterprise Management
SECOND YEAR
Fourth Trimester
Code Title of the Paper Credits Sessions Page (s)
401 Security Analysis and Portfolio Management
402 Production and Operations Management
403 Treasury and Risk Management
404 International Financial Management
405 Projects and Infrastructure Management: Financing,Implementation and Control
Electives406 Mergers and Acquisitions
or
407 Microfinance and Insurance 65-68
Fifth Trimester
501 Strategic Management
502 Financial Services
503 Corporate Governance and Business Ethics
504 Term Paper
Electives
505 Information Technology (IT) Security
or
506 E – Commerce
Training Placement
a. International Attachment Two weeks
b. Domestic Placement One week 3
c. Reporting Writing/Presentation One week
d. Viva-voce 3
e. Commencement of Project Work after the training placement – One Month
Sixth Trimester
601 Project Work
Unit – I
1. Conceptual Framework of Accounting: Users of Financial Statements; Capital of a Firm; Structure of Business Firms; Objectives of Corporate Financial Reporting; Components of Financial Statements; Accounting Conventions; Qualitative Characteristics of Financial Statements; True and Fair View; and Accounting Policy and Accounting Standards; Accounting Standards Disclosure of Accounting Policies (AS 1).
2. Accounting Records and Systems: (Journal, Cash Book, General Ledger, Trial Balance) and Bank Reconciliation Statement.
3. Balance Sheet: Accounting Equation; Balance Sheet Structure; Assets; Current Assets; Non-Current Assets; Classification of Assets; Liabilities; Current Liabilities; Non-Current Liabilities; Secured and Unsecured Liabilities; Classification of Liabilities; Accounting Standards Contingencies and Events Occurring after the Balance Sheet Date (AS-4).
Unit – II
4. Structure of Profit and Loss Account: Nature of Profit and Loss Account; Expenditure and Expenses;Income; Accrual Basis of Accounting; Structure of Profit and Loss Account; Extraordinary Items; Prior-Period Items; Accounting Standards; Net Profit or Loss for the period, prior period items and changes in Accounting Policies (AS 5).
5. Cash Flow Statements: Preparation of Cash Flow Statement; Presentation of Cash Flow Statement;Operating Activities; Investing Activities; Financing Activities; Foreign Currency Cash Flows; and Analysis; Accounting Standards Cash Flow Statement (AS 3).
Unit – III
6. Inventory Valuation: Definition; General Principles; Inventory Costs; Use of Standard Cost Method and Retail Method; Cost Formulas; and Net Realizable Value (NRV); Accounting Standards; Valuation of Inventories (AS 2).
7. Revenue Recognition: Introduction; General Principles; Measurement of Revenue; Collectibility of Revenue; Matching Principle; Sale of Goods; Service Revenues; Sales of Real Estate; Interests and Dividends; Constructions Contracts; and Revenue Recognition under Indian GAAP; Accounting Standards Revenue Recognition (AS 9). 8. Asset Accounting: Depreciation Accounting; and Fixed Assets Accounting (including a brief introduction to Impairment); Accounting Standards Depreciation Accounting (AS 6); Accounting Standards Accounting for Fixed Assets (AS 10).
Unit – IV
9. Financial Statements of Limited Companies: Legal Requirement relating to preparation of Financial Statements of Companies (including Schedule VI of the Companies Act); Note to the Accounts and Significant Account Policies and other Financial Reports and the contents of Annual Report.
10. Analysis of Financial Statements: Introduction; Accounting Policy and Quality of Earning; Earnings Management; Potential Red Flags; Common-size Financial Statement; Ratio Analysis; An Introduction; Measurement of Overall Performance of a Firm; Decomposing Roic and Roce; Turnover of Assets and Profitability; Decomposing Roer Gross Gearing; Effect of Financial Leverage and Spread; Assessing the Operating Management; Assessing the Solvency and Liquidity; Ratios at a Glance; Uses of Ratios for Internal Management; and Capital Market-Based Ratios; Accounting Standards Net Profit and Loss for the period, prior period items and changes in Accounting Policies (AS 5).
Post Graduate Diploma in Management (Financial Management)
