Discipline Specific Core Course- 4.1(DSC-4.1): Entrepreneurship & New
Venture Planning
CREDIT DISTRIBUTION, ELIGIBILITY AND PRE-REQUISITES OF THE COURSE
Course Credits Credit distribution of the course Eligibility Pre-
title Lecture Tutorial Practical/ criteria requisite & of the Code Practice course (if any) 4 3 1 0 Pass in Class XII NIL Entreprene urship & New Venture Planning
DSC- 4.1
Learning Objective:
This course aims at instituting entrepreneurial skills in the students by giving an overview of entrepreneurship and the competencies that are needed to become an entrepreneur. To enable students to explore and launch entrepreneurial ventures in their own areas of interest.
Learning Outcomes: After completion of the course, learners will be able to: 1. Describe distinct entrepreneurial traits. 2. Recognise the process and nature of entrepreneurship. 3. Identify the different ways in which entrepreneurs manifest in start-ups. 4. Comprehend the entrepreneurial process for initiating new venture creation. 5. Design strategies for the successful implementation of innovative ideas of new ventures.
SYLLABUS OF DSC-4.1
Unit 1: Introduction (9 hours)
Concept and Definitions Entrepreneurship, Entrepreneurial Mind-set, Traits/Qualities of Entrepreneurs,
Entrepreneurship process; Theories of entrepreneurship; Factors affecting the emergence of entrepreneurship; Role of an entrepreneur in economic growth as an innovator; Generation of employment opportunities; complementing and supplementing economic growth; Bringing about social stability and balanced regional development of industries. 111 Unit 2: Types of Entrepreneurs (9 hours)
Classification and Types of Entrepreneurs; Women Entrepreneurs; Social Entrepreneurship; Corporate
Entrepreneurs, Family Business: Concept, structure, and kinds of family firms; Culture and evolution of family firm; Managing Business.
Unit 3: Business plan (9 hours)
Creating Entrepreneurial Venture: Generating Business ideas, Team building, Sources of Innovation, Creativity, and Entrepreneurship; Challenges in managing innovation; Entrepreneurial strategy and Scaling up, Business planning process; Drawing business plans; Failure of the business plan.
Unit 4: Mobilizing Resources (9 hours)
Resource Mobilization for entrepreneurship: Resources mobilization, types of resources, Process of
resource mobilization, Arrangement of funds; writing a Funding Proposal, Traditional sources of financing, Venture capital, Angel investors, Business Incubators.
Unit 5: Managerial Aspects of Business and Government Initiatives (9 hours)
Managing finance; Understanding capital structure; organisation structure and management of human resources of a new enterprise; Marketing-mix; Management of cash; Relationship management; Cost management, Government initiatives for promoting entrepreneurship.
Exercises: The learners are required to: 1. Discuss various cases of entrepreneurship and distinguish between different entrepreneurial traits. 2. Prepare a business plan for a start-up venture in a rural setting after analyzing the various facets of the rural economy. 3. Analyse and present the key initiatives of the government of india for promoting entrepreneurship in the country in a business area. 4. Analyse and interpret case study on business philosophy at Tata Group, Aditya Birla Group, Reliance Industries Limited, and similar organisations. 5. Participate in business plan competition-designing a business plan proposal and identifying alternative sources of raising finance for the start-ups. Suggested Readings:
● Gersick, K. E., Davis, J. A., Hampton, M. M., & Lansberg, I. (1997). Generation to generation: Life cycles of the family business. Boston, United States: Harvard Business School Press. ● Hisrich, R.D., Manimala, M.J., Peters, M.P., & Shepherd, D.A. (2013). Entrepreneurship. Delhi, India: Tata McGraw Hill. ● Kuratko, D.F., & Rao, T. V. (2012). Entrepreneurship: A South-Asian Perspective .Cengage. ● Shukla, M.B. (2007). Entrepreneurship and Small Business Management. Allahabad, India: Kitab Mahal Publishers. ● Nicholls, A. (Ed.). (2006). Social entrepreneurship new models of sustainable social change. London: United Kingdom: Oxford University Press.
112 ● Hishrich, R.D., & Peters, M.P.(2017), Entrepreneurship. Delhi, India: Tata McGraw Hill. ● Scarborough, N. M., Cornwall, J. R., & Zimmerer, T. (2016). Essentials of entrepreneurship and small business management. Boston, United States: Pearson. ● Shankar, R. (2012). Entrepreneurship Theory and Practice. Delhi, India: Tata McGraw Hill.
Note: Suggested readings will be updated by the Department of Commerce and uploaded on the Department's website.
Discipline Specific Core Course- 4.2(DSC-4.2): Cost Accounting
Course Credi Credit distribution of the Eligibi Pre-
title ts course lity requisite & criteri of the Lectu Tutori Practical/ Code a course re al Practice (if any) Cost 4 3 1 0 Pass in Class NIL Accounting XII
DSC- 4.2
Learning Objective: The course aims to develop understanding among learners about contemporary cost concepts and rational approach towards cost systems and cost ascertainment. The course also aims to provide knowledge about various methods of cost determination under specific situations and to acquire the ability to use information determined through cost accounting for decision making purposes.
Learning Outcomes: After completion of the course, learners will be able to: 1. Discuss and analyze the different cost concepts. 2. Determine various components of cost of production. 3. Compute unit cost and total cost by preparing a cost statement. 4. Compute employee cost, employee productivity and employee turnover. 5. Determine cost for different industries using job costing, process costing, contract costing and service costing.
SYLLABUS OF DSC-4.2
Unit 1: Introduction (11 hours )
Meaning, scope, objectives and advantages of cost accounting; Difference between financial and cost accounting. Cost concepts and classifications, Overview of elements of cost and preparation of Cost Sheet for manufacturing sector. Role of a cost accountant in an organisation. Cost Accounting Standards (CAS – 4 on Cost of Production / Acquisition / Supply of Goods / Provision of Services) and (CAS – 22 on Manufacturing Cost) as amended from time to time.
113 Unit 2: Elements of Cost : Material and Employee Cost (9 hours ) (a) Materials: Accounting and control of purchases, storage and issue of materials. Techniques of inventory control, Periodic and perpetual systems of maintaining inventory records, an overview of methods of pricing of materials issues — FIFO, LIFO and Weighted Average price method, Valuation of materials as per CAS – 6 on Material Cost, Accounting treatment of losses— Wastage, scrap, spoilage and defectives (b) Employee (Labour) Cost: Accounting and Control of employee cost. Time-keeping and time- booking. Employee turnover: meaning, methods of measurement and accounting treatment. Concept and treatment of idle time and overtime. Methods of wage payment and Incentive schemes- Halsey, Rowan, Taylor’s differential piece wage.
Unit 3: Elements of Cost: Overheads (9 hours )
Classification, allocation, apportionment and absorption of overheads, Under and over- absorption of overheads; Capacity Levels and Costs; Treatments of certain items in costing like interest and financing charges, packing expenses, bad debts, research and development costs.
Unit 4: Methods of Costing ( 9 hours )
Job costing, Contract costing, Process costing (including process losses, valuation of work-in- progress). Service costing (only transport)
Unit 5: Cost Accounting Book-Keeping Systems (7 hours )
An overview of integral and non-integral systems; Reconciliation of cost accounting profit with financial profits.
Notes : 1. Treatment of various items of cost should be as per the relevant cost Accounting Standards (CAS) issued by Institute of Cost Accountant of India. 2. Use of spreadsheet software should be encouraged for the basic calculation.
Exercises:
The learners are required to:
1. Prepare a cost statement for manufacturing and/ or service organisation. 2. Identify the items to be included and excluded in the material and labour costs. 3. Visit a factory and analyse different elements of overhead costs. 4. Visit industries to understand process costing and prepare a cost statement for any 5. Process industry. 6. Suggest a suitable cost system for different types of services organisation.
Suggested Readings:
● Arora, M.N. (2021). Cost Accounting-principles and practice. Delhi, India: Vikas Publishing House. ● Goel, R. K., & Goel, I. (2019). Concept Building Approach to Cost Accounting for B.Com (Hons.)/B.Com. Delhi, India: Cengage Publications. ● Gupta, S., R., & Prabhakar, R. R. (2021).Cost Accounting for B.Com. Delhi, India: Sultan Chand. ● Maheshwari, S. N., & Mittal, S. N. (2020). Cost Accounting. Theory and Problems. Delhi, India:
114 Shri Mahaveer Book Depot. ● Maheshwari, S. N., Mittal S. K., & Mittal, S.N. (2021). Cost Accounting: Principles & Practice. Delhi, India: Shree Mahaveer Book. ● Mitra, J. K. (2021). Cost and Management Accounting. Delhi, India: Oxford University Press. ● Nigam, B. M. L., & Jain, I. C. (2023). Cost Accounting: Principles and Practice. Delhi, India: PHI Learning. ● Singh, S. (2019). Fundamentals of Cost Accounting. Allahabad, India: Kitab Mahal. ● Tulsian, P.C. (2020). Cost Accounting. Delhi, India: S.Chand.
Additional Resources:
● Drury, C. (2018). Management and Cost Accounting. China: Cengage.
● Horngren, C. T., Foster, G., & Dattar, S. M. (2017).Cost Accounting: A Managerial Emphasis. Delhi, India: Prentice Hall of India Ltd. ● Jain, S.P., & Narang, K.L. (2021). Cost Accounting: Principles and Methods. Jalandhar, India: Kalyani Publishers.
Note: Suggested readings will be updated by the Department of Commerce and uploaded on the Department's website.
Discipline Specific Core Course- 4.3 (DSC-4.3): International Business
Course Credi Credit distribution of the Eligibi Pre-
title ts course lity requisite & criteri of the Lectu Tutori Practical/ Code a course re al Practice (if any) Internation 4 3 1 0 Pass in Class NIL al Business XII
DSC- 4.3
Learning Objectives:
The course aims to impart the core body of knowledge in international business to the students. The course would introduce students to the international trading and investment environment and also create awareness about emerging issues such as outsourcing and sustainable development in the context of international business.
Learning Outcomes: After completion of the course, learners will be able to:
115 1. Analyse the process of globalization and its impact on growth of international business. 2. Evaluate the changing dynamics of the diverse international business environment. 3. Analyse the theoretical dimensions of international trade as well as intervention measures adopted. 4. Analyse the significance of different forms of regional economic integration and the role played by various international economic organisations. 5. Evaluate the forms of foreign direct investment and analyse benefits and costs of FDI.
SYLLABUS OF DSC-4.3
Unit 1: Introduction to International Business (7 hours)
Globalization - concept, significance and impact on international business; international business contrasted with domestic business; complexities of international business; internationalization stages and orientations; modes of entry into international businesses. Unit 2: International Business Environment (11 hours) Role of political and legal systems in international business; cultural environment of international business; implications of economic environment for international business.
Unit 3: International Trade (9 hours)
Theories of international trade – Theory of Absolute Advantage theory, Theory of Comparative Advantage, Factory Proportions theory and Leontief paradox, Product Life Cycle theory, Theory of National Competitive Advantage; Instruments of trade control.
Unit 4: Regional Economic Integration and International Economic Organisations (9 hours)
Forms of regional economic integration; Integration efforts amongst countries in Europe, North America and Asia: EU, USMCA, and SAARC; Cost and benefits of regional economic integration. International Economic Organisations: WTO- functions, structure and scope; World Bank and IMF
Unit 5: International finance and contemporary issues in IB (9 hours)
Types of FDI - Greenfield investment, Mergers & Acquisition, strategic alliances; benefits and drawbacks of FDI Overview of Exchange Rate systems Contemporary issues in international business: Outsourcing and its potential for India; international business and sustainable development.
Exercises: The learners are required to:
1. Demonstrate through case studies the suitability of each mode of entry in international business. 2. Conduct a comparative analysis of countries which are different in terms of political/legal/economic/cultural environment to understand the impact of these dimensions on international business. 3. Analyse data on trade of select countries to examine if trade patterns conform to different trade theories. 4. Conduct an in-depth study of a regional economic arrangement and evaluate its costs and benefits by applying the theoretical knowledge gained during the course 5. Make presentations on developments in contemporary issues affecting international business such as sustainable development.
116 Suggested Readings:
● Bennett, R. (2006). International Business. Delhi, India: Pearson.
● Cavusgil, S. T., Knight, G., & Riesenberger, J. (2006). International Business: Strategy, Management and the New Realities. India: Pearson India. ● Hill, C.W.L., & Jain, A. K. (2011). International Business. Delhi, India: Tata McGraw Hill. ● Chaturvedi, D.D., Jindal, D., & Kaur, R. (2022). International Business. Delhi, India: Scholar Tech Press. ● Daniels, J. D., Radenbaugh, L. H., & Sullivan, D. P. (2016). International Business. Pearson Education. ● Griffin, R. W., & Pustay, M. W. (2014). International Business - A Managerial Perspective. New Jersey, United States: Prentice Hall. ● Joshi, R.M. (2009). International Business. Delhi, India: Oxford University Press. ● Menipaz, E., Menipaz A., & Tripathi S.S. (2017). International Business: Theory and Practice. Delhi, India: Sage Publications India Pvt. Ltd.
Additional Resources
● Economic Survey, various issues.
● RBI Report on Currency & Finance, various issues. ● World Investment Reports, UNCTAD ● Websites: RBI, IMF, WORLD BANK, WTO. ● WTO Annual reports
Note: Suggested readings will be updated by the Department of Commerce and uploaded on the Department's website.
