• Dr. Neha Seth

To understand the dynamics of business and analyse its operations one needs to be aware of various domains of knowledge and skill sets. When executives move to managerial roles, they should be equipped with multidisciplinary skill sets, and accountancy is one of them. This course is designed in a way that even learners with no prior knowledge of accountancy will be able to prepare and analyse various accounting statements after completing this course.The course encompasses a comprehensive curriculum designed to provide a deep understanding of accounting principles and practices. Key topics include the scope and conceptual framework of accounting, the fundamental accounting process, and the preparation of financial statements. Students will gain expertise in preparing financial accounts for companies and analyzing the classification of costs. The course also introduces advanced costing techniques, activity-based costing, cost-volume-profit analysis, and budgeting and budgetary control. Additionally, learners will explore variance analysis, interpretation of annual reports, and specialized areas such as human resource accounting and forensic accounting. This holistic approach ensures that students develop the skills required for effective financial management and decision-making in diverse organizational contexts.

• Prof. Dhanesh Kumar Khatri

About The Course : This course provides a comprehensive coverage of all the essential and basic concepts of financial management and provides required basic knowledge of Finance to all the students, as this is a core course. Students who want to learn more about Finance can choose Finance as their specialization and learn Finance in more detail. This course, Financial Management (MMPC014) teaches you with the essentials of Financial Management that are required by all the students who need to learn basics of finance. This course is divided into 5 Blocks and contains 15 Units. Block-1, Financial Management - An Overview, consists of four units provide an introduction on the overview of financial management. The first unit explains the basic concepts, role of financial manager in business organizations, various functions, and major decisions besides the organization structure of finance function. It also explains how the wealth maximization objective is superior to profit maximization objective of the firm. The second unit explains the concept of time value of money and illustrates the computation of the implied rate of interest, principal amount and annuities in borrowing and lending transactions. The concepts of risk and return, types of risks and the factors affecting risk and measurement of risk and return are discussed in unit three. Unit four presents the valuation of securities and types of approaches of calculation of fixed income securities as well as variable income securities. Block-2, Cost of Capital and Investment Decisions, comprises three units. Unit five provides the conceptual understanding of the cost of capital and its variants. It also illustrates the computation of cost of specific sources of long-term finance and computation of weighted cost of capital. The unit sixth explains the need for investment appraisal and familiarizes the methods of appraising capital projects, and explains their relative merits and demerits. Unit seven describes the concepts and components of working capital, significance, determinants of the size of working capital and major components of current assets explained along with the criteria for efficiency in managing working capital. Block-3, Financing Decisions, contains four units and discusses about the financial markets, sources of finance and capital structure design and the leverage analysis. Unit eight discusses about the nature and characteristics of long-term financial instruments and the significance of financial markets in India. The ninth unit shows the different sources of finance and their merits and limitations. The capital structure importance and the factors that have bearing on determining the capital structure and an appropriate capital structure have been discussed in unit tenth. It also highlights important factors to be considered for determining the capital structure and explain in detail the different approaches to evaluate alternative capital structures. The eleventh unit of this course focuses on the concepts of leverages and leverage analysis to examine the consequences of financial leverage for a business firm and assess the risk implications of financial leverage. Block-4, Dividend Decisions, comprises two units and discusses different theories of dividends and dividend policies. Unit 12 specifically explains the nature and significance of dividend decision and various theories of dividend and their impact on the dividend decisions and on the value of a firm. Unit 13 deals with the dividend policies. The various forms of dividend, factors affecting the dividend decisions and the role of financial manager in dividend decisions are discussed in this unit. Block-5, Emerging Issues in Finance, introduces you to some emerging issues of Finance, viz., Behavioral Finance and Financial Restructuring. Unit-14 discusses the various behavioral aspects of finance. Unit-15 provides an understand of the concepts of corporate restructuring and financial restructuring, diverse methods being followed by the companies in undertaking restructuring and the procedure involved in each of the methods of financial restructuring. It also highlights the merits, demerits, and reasons of each of the options available for restructuring.

• Prof. Anjali C. Ramteke

This course has been designed in such a manner that after having gone through it you will be in a position to manage the working capital at your workplace. Most of the firms carry on their business basically with two kinds of assets, fixed assets and current assets. In many manufacturing units, current assets form more than half of the capital employed. Truly, greater part of the time of the manager is spent in dealing with the issues concerning the management of working capital. The first block attempts to highlight issues pertaining to operating environment and assessing working capital requirements. Operating Environment of Working Capital, covering changes in the monetary and credit policies, financial markets and economic liberalization is discussed. It explains framework for assessing the working capital requirements and the practical aspects of lending by commercial banks. It discusses all the important components of working capital, viz., Receivables, Cash, Marketable Securities and Inventory. Financing of Working Capital block focuses on the theoretical issues governing the determination of working capital and also the practices followed by banks and other financial institutions. It deals with payables management, explaining the significance of payables as a source of finance. It also discusses the impact of different choices of investment and financing on working capital policy. It also deals with the basic concepts and practices relating to borrowings from banks, as they prevail in India. The methods of assessment of working capital needs which are adopted by banks are also explained. It discusses the role and contribution of SMEs in India, the scope and functions of financial management in SMEs. Besides, it also presents the issues relating to the working capital management for small and medium enterprises.

• Prof. Kamal Vagrecha

This course on Capital Investment and Financing Decisions is aimed to develop your understanding of the dynamics governing the financial decisions of corporate. These financial decisions have both long and short term ramification. Business activities when done on large scale with wide geographical spread is often through formal organizational structure known as company. This course aims to introduce how companies operate and manage the financial affairs. In Block 1we discuss about nature of long-term financial decisions, cost of capital and capital structure. In this unit we discuss about Investment Decisions, Financing Decisions & Dividend Policy Decisions and inter relationship among these decisions. Second block deals with Investment decisions under certainty, which refers to the scenario where the cash outflows and inflows over a period of time can be predicted with fair degree of accuracy. These techniques are being widely used in project management. Third block deals with Investment Decisions Under Uncertainty. We start with Capital asset pricing model, which is used to estimate risk adjusted discount rate for making investment decisions. Further we discuss about how to measure Betas, stability of Betas over time, determinants of Betas and discounted cash flow approach. Risk Analysis in Investment Decisions deals with techniques that are especially useful when the firms have multiple objectives and risk and uncertainty associated with each objective has to be evaluated and incorporated into a single model. Fourth block deals with Long Term Financing. We start with discussion on raising of finances through domestic markets. In recent years we have seen many innovations in financial instrument design as well as method of placement of financial instruments. Further we discuss about raising of finances from global markets. Deregulation of financial markets has thrown up new opportunities. Low rate of savings and high cost of intermediation increases the cost of capital; therefore, the companies are increasingly looking towards global financial markets, apart from this listing on global financial markets give these companies high visibility in the international arena. Further we discuss about other modes of financing these modes of financing are leasing and hire purchase, suppliers’ credit, asset securitization & venture capital. Fifth block deals with Strategic Financing Decisions Viz. Capital Restructuring, Financial Engineering, Investors Relations. The rapid change in the economic variables i.e. interest rate, cost of capital, increasing integration of world markets, has put pressure on the companies to change their capital structure. In order to have a low operating and financial cost the companies have to restructure themselves in terms of capital structure, hiving of non core business and by takeovers and mergers. Next, we discuss factors that lead to the growth of financial engineering and what is the financial engineering process. Lastly, we discuss about Investors Relations. In order to make an informed decision the investors, creditors, bankers, government etc. requires information which is not usually disclosed by financial statements therefore the companies are changing the reporting formats and also shifting to universally accepted accounting standards. By providing the full information companies also adhere to code of corporate governance. Apart from information providing quality, services to the investors also form a part of investor’s relations.

• Prof. Kamal Vagrecha

This course on Management Control Systems to develop your understanding of the dynamics governing the operations of companies and organizations. Every organization has certain objectives and goals. How well these objectives and goals are accomplished depends on how well the individuals in groups (units or departments) at various levels in the organization have performed their tasks. Management Control attempts to bring about this integration and is thus vital for the success of any organized human endeavor. The subject of management control draws upon other subjects like Economics, Management Accounting, Management Science and Behavioral Sciences. In this introductory block we introduce you to the basic concepts of management control and management control systems and other related concepts viz., strategic planning and operational control. Further we discuss about strategies and their inter-linkages with management control along with issues involved in designing Management Control Systems. In the second block discuss about the management control structure. We start our discussion with an introduction of the Responsibility Centre, which are the organizational units that are central to the management control process. Thereafter we discuss about the various type of responsibility centre, procedure for establishment and performance evaluation of the responsibility centre. This block deals with Cost Centre/Expense Centre, Profit Centre and Investment centre.

Cost Centre/Expense Centre which are the organizational units which are responsible for cost control. In profit centre, the management control system is concerned with the measurement of both input (expense) and output (revenue) in monetary terms. In an investment centre the control system not only measures the revenue and expenses but also measures the investment base on which these revenues are earned. Next we discuss about Transfer pricing, which is the process of determining price for the purpose of intra company transfer.

Third block deals with management control process. Any control process has three underlying sub processes, Target setting (Budgeting), performance measurement and reward & compensation. Budgeting and budgetary control seek to direct the activities in a certain logical sequence and address some basic issues of control which are essential to the planning and control process. Performance measurement is used to gain insight into and make judgment about the effectiveness and efficiency of programs, processes and people. Reward and Compensation an incentive system is designed to attract employee’s attention and stimulate him to work. Incentives can be both monetary and nonmonetary in nature. Lastly we discuss about Recent Innovations in Management. These innovations in management have leaded the companies to be more cost and quality conscious. Secondly, these techniques have lead to lean and mean workforce.Fourth block deals with management control process in some special organisations. The management control process of any organization is influenced by its role and activities and the process itself is suitably modified and aligned to organizational activities. We start with discussion about management control systems in banks, insurance companies and mutual funds. In all these organisations the focus of management control is on minimisation of risk associated with investments and operations. Next we discuss about multinational organisations. In these organisations the management control process is primarily concerned with designing of a system which yields uniform responses across the countries. Management control of projects, deals with differences in ongoing operations and projects. Later we discuss the control environment for projects and the various phases of project. Last unit deals with management control systems in development organisations, SMEs and knowledge organisations.

• Prof. Dhanesh Kumar Khatri

The primary objectives of learning security analysis and portfolio management are as follows: 1. To understand the fundamental concepts and principles of investment analysis and portfolio management, including the various types of securities, financial markets, and investment strategies. 2. To learn the techniques and tools used to evaluate the intrinsic value of securities and identify undervalued or overvalued securities, such as ratio analysis, financial statement analysis, and cash flow analysis. 3. To develop an understanding of different types of risk and how to measure and manage them, including market risk, credit risk, liquidity risk, and operational risk. 4. To gain knowledge of the various approaches to portfolio management, including passive and active management, strategic and tactical asset allocation, and factor based investing. 5. To learn how to construct a diversified portfolio by selecting securities that complement each other and balance risk and return. 6. To develop critical thinking and analytical skills to make informed investment decisions and manage a portfolio over time. Security analysis and portfolio management are two interconnected fields of study that deal with investment decision-making. Security analysis involves the process of evaluating financial instruments or securities, such as stocks, bonds, and derivatives, to determine their investment value. The aim of security analysis is to identify securities that are undervalued or overvalued in the market and make informed investment decisions based on this analysis. Portfolio management, on the other hand, is the process of selecting and managing a group of securities, known as a portfolio, that meets the investment objectives and risk tolerance of an investor. The primary goal of portfolio management is to maximize returns while minimizing risk by diversifying investments across different asset classes, sectors, and geographic regions. Effective security analysis and portfolio management require a deep understanding of financial markets, economic trends, and risk management strategies. It involves analyzing financial statements, market trends, and macroeconomic factors to identify attractive investment opportunities and create a well-diversified portfolio. Security analysis and portfolio management are critical components of investment decision-making that can help investors achieve their long-term financial goals while managing risk. The course is divided into four blocks and has 15 units in all.

• Prof. Kamal Vagrecha

This course on International Financial Management is aimed to develop your understanding of the dynamics governing international financial flows. In present environment advanced economies have surplus savings as evident from very low interest rates prevailing in these countries. On the other hand developing countries short of savings and investments are looking for funds. This course introduces you to the various aspects of international financial flows.

Block 1 titled International Financial Management discusses the framework in which international financial flow operates. The basic objective of this block is to make you aware of the various factors and variables which operate in international financial environment.

Block 2 titled as Foreign Exchange Market and Risk Management, deals with various underling concepts of forex transaction. Market participants exchange rate quotations, arbitrage and forward markets and forward rate determination. Further we discuss various fundamental factors that influence the exchange rate of currencies, along with Interest Rate Parity and Purchasing Power Parity relationship.

Further we discuss about various derivative instruments in which the underlying asset is a currency along with their applications and how that value of these derivatives is calculated and for what purpose they are used.

Lastly, we discusses about Accounting and Economic Exposure and the different types of exchange rate exposure and the how the risk arising out of these exposures is managed.

Block 3 titled as “International Financing Decision” deals with various instruments which are used by Indian Corporate to raise funds from international markets. Further we discuss about the various types of credit facilities and institutional mechanism which are available to the exporters. Lastly, we discuss about the peculiar features of an MNC from the point of view of cost of capital and how the country specific factors affect the cost of capital.

Block 4 titled as “International Investment Decisions” discusses the various aspects of international investment ranging from working capital to capital investment. We start with discussing the fundamental issues involved in capital budgeting and foreign investment viz. Parent vs. Project cash flows, tax issues and exchange controls. Further we discuss about the factors affecting foreign market entry decision including the host Government policies towards FDI and the taxation issues. Next we discuss how diversification is done through international investment and what are the effects on risk and return through international diversification.

• Prof. Anjali C. Ramteke

The main focus of this course is on financial services, trying to understand some of the macro aspects of the financial services sector. It deals with issues like the role of financial services in the financial system of a country, the players/participants in the financial services sector. Besides this, ‘an important component of the financial system i.e., financial markets is also covered. The concept and importance of financial services, evolution of financial services in India, the various types of financial services the impact of technology on the financial services sector are also discussed here. Fee-based services that are provided by financial firms to enable others to raise capital from the market or exchange financial assets and risk with other participants of the market, are dealt with. It provides a complete idea about Merchant Banking, the role of issue managers, the requirements as per SEBI for their registration etc. Broking and Trading in Equity and the regulations related to broking and trading in equity in India are also explained. The scope, importance and limitations of Credit Rating, the process of credit risk assessment and rating scales is also covered. Philosophy of Mutual Funds, classification of mutual fund schemes under different categories is also given. It describes the complete mechanism of Dematerialization and Rematerialisation. The depository services provided by National Securities Depositories Ltd. (NSDL) and the Central Depository Services Limited (CDSL) are also discussed. It discusses some of the Fund based services which have great significance in today’s business world. Issues such as benefits of leasing, types of leasing, main clauses in a lease agreement etc. have been covered. The unit on Housing Finance describes the Institutional Framework for Housing Finance, highlighting the Role of National Housing Bank and other primary lending agencies. The different modes of acquiring venture capital funds, Regulations issued by SEBI for Indian Venture Capital Funds/Companies as well as Foreign Venture Capital Funds are also covered. The concepts, operational mechanisms and other issues of short-term trade financing such as Factoring, Forfaiting, Bill Discounting and Asset Securitisation are also covered. Other financial services such as Credit Cards, Insurance Services, Crowd Funding, Carbon Finance etc. are also discussed.This course, deals with management of risk in financial services and some important developments in the financial services sector. It discusses elaborately the transformation from traditional and computerized accounting to a totally digital environment. The different payment products like National Financial Switch (NFS), AePS (Aadhaar Enabled Payment System), IMPS, RuPay, etc. and new emerging technologies like Open Banking, Cloud Banking, Block Chain Technology etc. have been covered to a great extent. The Investment Strategies in Portfolio Management, types of portfolio management services, regulatory framework as well as the developments in Indian Market are also discussed here.

• Prof. K. Ravi Sankar

Financial Markets have evolved over several centuries. Investment of financial resources needs to be focused on sustainable growth and development for the benefit of people across all strata of society. Financial engineering and emergence of exchange markets have characterized the development of Global Financial Markets. In this course, we shall cover the different issues relating to equity markets ranging from primary and secondary markets, valuation of securities, portfolio management, Mutual funds and index construction. The course also discusses different investment styles and trading strategies. This course is divided in to 5 Blocks and 14 Units.

• Prof. Anjali C. Ramteke

As the title of the course indicates, this course gives an overview on insurance services. The details of insurance intermediaries and distribution channels for insurance products are also explained. The block on Life Insurance discusses in detail how a life insurance product is designed. It also discusses Medical underwriting, Financial underwriting, Lifestyle Underwriting done to assess the appropriate premium that should be charged. Group insurance provided to the group of individuals having some common attributes through a single policy contract, and the concept of Micro Insurance and its relevance are also explained. Health Insurance which plays a very important role and forms a considerable part of insurance business is covered, providing learners a broad idea about financing health insurance. The role of government especially in social health insurance providing necessary financial support, through the Rashtriya Swasthya Bima Yojana (RSBY) is also covered. Motor insurance being a mix of personal property (own damage to the vehicle) & social liability (liability to third party victim of an accident), warranted a special treatment, and thus taken up separately. You will be able to get an overview of Motor Vehicle Act & highlights of proposed changes in Road Safety Bill. A unit on Property Insurance discusses how in common parlance, Fire Insurance and Property Insurance are used interchangeably. It also provides knowledge about fire insurance coverage and processes. Agriculture insurance today is very important for economic and social development for a county like India, has been covered extensively. The last block focuses on Managerial Issues of Insurance Sector. It touches upon some of the macro aspects related to governance of the insurance sector. Corporate governance framework in India, in relation to the Insurance Sector is elaborately covered. Need for Corporate Social Responsibility (CSR) in Insurance Sector and the provisions of the Companies Act 2013, CSR Reporting, CSR Policy etc. has also been dealt with. The various aspects related to Solvency and Asset Liability Management has also covered. The role and responsibility of the Insurance Regulatory and Development Authority of India (IRDAI) has also been covered. The Government has set up several schemes to improve the lives of communities and individuals who have been treated unequally, ensuring greater opportunity for people who have not had this in the past. In light of this the various ‘Financial Schemes of Government of India’ are discussed in the end.