PGDFM-Government

Post Graduate Diploma in Financial Management (Government) Course details

Course Aims

  • To develop proactive managers with managerial and decision making capability and technical competency.

Learning Outcomes

To develop knowledge and skills to:

  • Be able to constructively analyse and present financial information
  • Manage and assist the management in financial related works
  • Plan and manage auditing activities

Graduate Attributes

PGDFM graduates should possess the following attributes:

1 Discipline  specific knowledge and capabilities appropriate to the level of study related to a discipline or profession
2 Communication skills: using oral, written and interpersonal communication to inform, motivate and effect change
3 Digital literacy using technologies to find, use and disseminate information
4 Creativity, innovative and Entrepreneurship evaluating information using critical and analytical thinking and judgment and creating solutions to authentic (real world and ill-defined) problems
5 Integrity, Honesty and Professional Excellence working and learning independently and in team works, and taking responsibility for personal actions

Units offered in PGDFM (Government)

(For Unit outline details, plz. Visit our website: www.rim.edu.bt /programs)

Term I

  • Public Financial Administration
  • Management Accounting
  • Managerial Economics
  • Management Communication
  • Public Administration
  • Commercial Accounting I

Term II

  • Managerial Statistics
  • Revenue Accounting
  • Corporate Finance
  • Commercial Accounting II
  • Government Accounting I
  • Development Policies and Programmes
  • Dzongkha Communication
  • Tax and Excise

Term III

  • Procurement Management
  • Introduction to Research Methodology
  • Principles of Auditing
  • Tally
  • Government Accounting II, PEMS and MYRB
  • On the Job Training

Unit outlines:

Term I

  1. Public Financial Administration

Unit description and learning outcomes

This unit is designed to impart the knowledge of financial management in Public sector to the students of PGDFM so that they can use various tools and techniques to analyse and make informed financial decisions. This unit will have three parts. Part one will cover the general theories and concepts of public sector finance such as understanding role of public sector in the economy, meaning and scope of public finance, Public Revenue, Public Debt and Public Expenditure. The second part of this unit will cover various tools and techniques and theories of public financial administration based on Royal Government of Bhutan including national budgeting system and the budgeting process. The third part of this unit will comprise of delivery on Public Finance Act of Kingdom of Bhutan.

At the end of this unit, students should be able to understand public sector finance, analyze and interpret the financial performance of the public sector/government in general. Students should also be able to understand public financial management aspects of the Royal Government of Bhutan in relation to the Public Finance Act of Kingdom of Bhutan.

Topics:

Week Topic Sub-Topics
1 Introduction to Public Finance – Role of government in the economy An overview of Public Finance, introduction to the role of government in the economy, meaning and scope of public finance, distinction between public and private finances, public goods vs. private goods and issues of externalities.
2 Fiscal functions of government: An overview An introduction to different fiscal functions of government which includes allocation, distribution, stabilization. Public provision of social goods and equity in distribution
3 Public revenue Revenue Receipt Vs. Capital Receipt Tax and Non-tax revenue, Principles of Taxation, requirement of a good taxation system and objectives of a taxation system
4 Principles of Taxation The impact, incidence and effect of taxes. Classification and choices of taxes
5 Public Debt The meaning of public debt, public debt vs. private debt, Public debt and economic growth, Public debt and inflation, Public debt vs. taxation, burden of debt  and  issues in debt management
6 Public Expenditure Meaning and nature of public expenditure, effects of public expenditure on distribution, expenditure evaluation decision rule
7 Public Financial Administration of Bhutan Introduction to Public Financial Management system of Bhutan, Sources of fund, types of expenditure, fund flow process, banks accounts of government.
8 Public Financial Administration of Bhutan Roles and responsibilities of different agencies for financial management.
9 National Budgeting System of Bhutan Introduction to Budgeting:Historical background of budgeting system in Bhutan, Meaning and definition of budget, Need and purpose of budget, Aims and objectives of budgetary control, Budgeting process – four phases of budget cycle
10 Service Entitlement Rules Identify and understand those entitlements as civil servants with are financial in nature
11 Public Finance Act of Kingdom of Bhutan Public Finance Act of Kingdom of Bhutan
12
13 To wrap and recapitulate the above sessions Selected difficult topics

Lists of required texts/readings

There is no prescribed single textbook for this unit. However, following textbooks will the part of unit reading material. In addition to this weekly additional reading materials will be provided.

  1. Bhatia, H.L. 2006, Public Finance, 25th Edition, Vikas Publishing House Pvt. Ltd., New Delhi.
  2. Musgrave, R.A & Musgrave, P.B. 2004, Public Finance in Theory and Practice, 5th Edition, Tata McGraw-Hill Publishing Company Ltd. , New Delhi.
  3. Bagchi, A. (Editor), 2005, Readings in Public Finance, Oxford University Press, New Delhi.
  4. Herber, B.P. Modern Public Finance, 5th Edition, Laxman Chand Arya , Krishna Nagar, Delhi.
  5. Eshag, E. 1983, Fiscal and monetary policies and problems in developing countries, Cambridge University Press, London.
  6. Additional reading materials provides in the class for the unit including lecture slides.
  7. Procurement Rules of Regulations of Kingdom of Bhutan 2009, Financial Rules and Regulations of Kingdom of Bhutan 2001.
  8. Public Finance Act of Kingdom of Bhutan. 

Details of assessment item

Students will be assessed based on following methods:

Assessment items/methods Percentage Marks
Class participation – class discussion and tutorial participation 5 %
Assignment (individual/group) 10%
Mid-term class test 25%
Presentation (group/individual) 10%
Final examination 50%

2. Management Accounting

Course Objectives:

The Cost Accounting course is designed to impart  various costing techniques to the students as cost information are the only tools to managers within an organization to assist management decision making and managerial control functions. The techniques that students (would be managers)  learn in the MA are very important as it greatly reflects on the managers ability to influence cost  on all activity levels which will lead to significant savings in the cost of producing goods and services. Students are made aware that management control in any system acts as surveillance for cost controls. Students are then shown the various alternative methods of costing and should be able to pick up the method that will lead to better cost information thereby leading to better cost controls and savings. The knowledge gained from the course should enable them to function as internal consultants who create strategies and recommendations to guide management decision making. All the topics are centered around the cycle of good management accounting…..planning…..control and decision making.

 Timetable of learning activities

Sl.No. Topic Sub Topic
1 Overview of Management accounting (Goals of Managerial Accounting) Planning, Control, Decision Making, Comparison of MA and FA
2 Cost concepts Variable cost, Fixed Costs, sunk costs, Opportunity Costs Direct and Indirect Costs Controllable and Uncontrollable costs
3 & 4 Cost Classification for Manufacturing Firms Manufacturing Cost, direct Materials, direct Labour, Mfg overhead Costs Selling Costs, Gen & Adm. Costs, Product and Period Costs
5 Two Key Ideas in MA Decision Making Relies on Incremental Analysis You Get What You Measure
6 & 7 Product cost information in financial Statement Raw Material Inventory, WIP inventory, Finished Goods Inventory
8 & 9 Costing Methods:Overview of Job  Order Costing, Batch costing Direct Materials, Direct Labour Mfg Overhead, assigning overhead to Jobs
10 Operating Costing for Service Companies Comprehensive example
11 Process Costing Product and Cost flows, Direct Materials, Direct Labour, Mfg.
30 Budgetary Control:Use of Budgets in Planning Planning Control,
31 Developing of Budget Budget time Period, Zero base Budgeting
32, 33, & 34 The Master Budget Sales, Production, Direct Material purchase, Direct Labour, Mgf. Overhead, Selling & Adm.
35 & 36 Budgetary control & budgetary variances. Standard Budget, Static Budget Flexible Budget,
37 & 38 Standard Costing:General Approach to Variances Material variances, Direct Labour Varinances, Overhead Variances,
39 Investigation of standard Cost Variances Management by exception, Favourable Vs Unfavourable Variances,
40, Use of Cost Information in Management Decision making Incremental AnalysisIncremental CostIncremental revenueIncremental Profit
41, 42 & 43. Use of Cost Information in Management Decision making Incremental Cost Analysis for decision-makingAdditional processing of a productMake or Buy a productDropping  product line

Evaluation Process:

Class Participation 10%
Individual Assignment 15%
Group Assignment & Presentation 20%
Mid-Term 25%
Final Examination(End term) 30%

Suggested Textbooks:

  • Management & Cost Accounting by Colin Drury, Thomson Publishing house, New Delhi/Singapore.
  • Cost Accounting by M.N. Arora, Vikash Publishers, New Delhi

3. Managerial Economics

Course Objectives: This course is designed to build a foundation on economics concepts and tools for management students at the PGDFM level so that they can use economics tools in analyzing managerial problems and making decisions thereof for their firms and industries. The course will offer an application of economics theory using both qualitative tools and techniques. Topics such as demand/supply analysis and forecasting, production and cost analysis, problems of optimization, pricing policy, understanding markets and their strategies in production and price setting and behavior of firms under different market structures. Basic mathematical tools are used in analyzing and solving managerial problems. Further, the students are exposed to essential macroeconomic concepts in general and national economic scenario in Bhutan.

Student Evaluation: Students will be evaluated based on their performance on assignments/problem solving, class tests, group presentation and final examination.

Teaching materials: Prescribed Reading/ teaching materials:

Core text for Micro economics:

  •  I.C. Dingra: Essentials of Managerial Economics
  • Dominick Salvatore: Theory and problems of Microeconomic Theory (2nd edition)

Core text for Macro economics:

  • Paul Samuelson and William D Nordhaus: Economics
  • Craig Peterson and W. Cris Lewis: Managerial Economics (3rd edition)
  • Shapiro: Macroeconomic Analysis (5th edition)

Additional readings suggested:

  • A.Koutsayiannis: Modern Microeconomics
  • Dornbusch; S.Fisher, Stanley and Startz, Richard ; Macroeconomics
  • Lipsey and Chrystal : Economics (10th edition)
  • Henderson and Poole: Principles of Macroeconomics
  • Heinz Kohler: Macroeconomics

Time table of activities

Session #

Topics

Sub-topics

  Part I. Micro Economics  
03 Introduction to managerial economics and mathematical tools for analyzing managerial decision
  • Similarities and difference between managerial economics and micro economics
  • Basic concepts in economics
  •  Functional relationships: concept of market, total, average and marginal
  • Consumer behavior, cardinal and ordinal utility analysis
  • Basic techniques in calculus, functions, derivatives, partial derivatives and optimization
03 Demand theory and analysis
  • Fundamental demand relationships, determinants of demand and demand function
  • Elasticity of demand
  • Price elasticity
  • Income elasticity
  • Cross elasticity
04 Supply analysis and demand/supply equilibrium
  • Introduction
  • Supply function, Elasticity of supply
  • Determinants of demand supply equilibrium
06 Theory of production
  • Estimating the production function
  • Variable factor productions
  • Production with one variable input/two variable inputs
  • Economics of scale
  • Application of derivatives in production analysis
06 Theory of Cost
  • Economic concept of cost
  • Formulating cost functions
  • Short run functions
  • Long run functions
  • Production and cost
  • Application of derivatives in cost analysis
06 Market Structure and price  determination (Perfect competition, monopoly and imperfect competition)

  • Characteristics
  • Equilibrium price
  • Profit maximizing output: graphical methods/calculus method ( long run/short run)
  • Loss and shut down decision
01 Class test All of the above

Part II, Macro Economics

02 Introduction on macroeconomics concepts and theories
  • National income Accounting concept  and measurement of Gross National Product (GDP)
04 Fiscal policy(FP)
  • General principals of FP

 

04 Monetary Policy(MP)
  • General principles of money supply and demand

 

04 Development Theories
  • Alternative theories of development

 

02 Group Work Presentation

 

4. Management Communication

Unit description or syllabus

The overall objective of this module is to provide students with the needed knowledge and skills of communication and the current methods of academic and workplace communication, of the role and procedures for being effective communicators as public sector managers. The module being useful during their time in RIM will also serve as reference guide in their future career.

Learning outcomes

At the end of the module, students should be able to:

  • Understand the basic roles and fundamentals of effective communication both within and outside an organization.
  • Demonstrate effective written communication skills both for academic and organizational management purpose.
  • Gain experience in understanding and interpreting variety of contexts of communication.
  • Select and use appropriate methods and techniques of effective communication.
  • Acquaint themselves with the challenges and opportunities they face when they communicate with others academically and organizationally.
  • Demonstrate ability to develop and deliver an oral presentation and
  • Learn to acknowledge and appreciate the various communication tools and procedures in today’s workplace.

Timetable of learning activities

Sessions/Objectives Topic Sub-Topics
Session ITo understand the objectives and expectations of the course Introduction to Management CommunicationCourse RationaleStudents expectationsModule objectivesParticipation, assessment and grading Introduction to essential skills of communicationEffective communicationWho is an effective communicatorDiscussing possible criteria for an   effective communicator through students mind maps
Session II Language UsageWritten CommunicationFundamentals of Writing:  Adaptation What is Adaptation?The importance of adaptationHow is it done
Session III Fundamentals of Writing: Word Choice
Fundamentals of Writing –The Sentence
Principle of word choice & plain EnglishSix techniques of determining word choiceWhy Word choice techniques are essential and how they help in making your writing effectivePrinciple of sentence and plain EnglishFour techniques of writing effective sentencesWhy techniques of writing effective sentences if essential?The voice of the sentence

Controlling the sentence length

Session IV Fundamentals of Writing – The ParagraphFundamentals of Writing – The Essay  Introduction to TEE modelPlacement of topic sentencesHow to organize and develop evidence sentence into effective paragraphsPlacing of ending sentencesParagraph unityParagraph length and its effect on readersHow to make paragraphs move forward

Introduction to writing essays

What is a Thesis Statement

Similarities and differences between topic sentence and thesis statement

What makes a good essay

The structure of an essay

The role of writing transitional words or phrases in writing effective essays

Session V Academic Writing: ReferenceIn-text referencing Introduction to referencing and plagiarismTypes of referencingThe APA styleDifferences between APA & MLAParts of referencing skills – APA styleWhy use in-text referencesHow to reference

How to write in-text references

Secondary citations

How to use quotations effectively

Session VI Workplace writing: Letters Introduction to writing effective lettersHow to organize informative and effective lettersHow to organize negative messagesHow to organize a persuasive direct requestHow to organize a persuasive problem-solving messageThe parts of a letterLetter formats

Punctuation

Session VII Workplace writing:

  • Memos

 

 

 

  • Note Sheets

 

  • E-mails
Introduction to writing effective memosHow to organize informative and positive memosHow to organize negative memosHow to organize a persuasive direct requestHow to organize a persuasive problem-solving memoThe key parts of a memoMemo formats

Structure, tone, displaying lists & sub-headings

Introduction to writing effective note sheet

Suggested formats for note sheets

Introduction to writing effective e-mails

The parts of an e-mail

How to create better visual impact

Session VIII Verbal Communication

  • Presentations

 

  • Telephone Skills
Introduction to oral presentationsHow to prepare an effective formal presentationTechniques & processes of effective presentationHow to deliver  the presentationTeam presentation techniquesIntroduction to telephone skillsKey parts of telephone calls

How to effectively handle everyday telephone situations

Session IX Verbal communication:Meetings Workplace meetings: types and purposesHow to organize formal meetingsHow to set agendasHow to chair formal meetingsHow to handle difficult membersHow to prepare minutesConducting successful informal meetings

Understanding the team roles in meetings

Seating arrangements and logistics

Session X Non-verbal Communication Introduction to non-verbal communicationUnderstanding how we communicateForms of non-verbal communication and their importance
Session XI Speech Delivery Speech Delivery by the students as part of the assignment whereby they will be judged on the content of the speech, and on their confidence, body language and tone of the voice
Session XII Other Forms of Communication:

  • Resume
  • Cover Letter
  • Formal Report
Introduction to the resumeTypes of resumeThey key parts of a resumeGuidelines for resumesKey parts of a cover or application letterIntroduction to formal reportsComponents of a formal report

Layout and organization considerations

Session XIII Other forms of communication:Visual AidsListening Skills Introduction to visual aidsUnderstanding the purpose of using visual aidsCommon types of using visual aidsGuidelines for presenting visual aidsWhy listening skillsUnderstanding the importance of active listeningHow to handle obstacles in listening

 

 Required Reading:

 

No separate reading list is recommended for this module. Management Communication for PG Courses authored by James King and Pema Wangdhee (2006) includes all the relevant readings. All the sources in this book are clearly cited and additional materials related to the key learning points in the module will be handed out by the concerned lecturer as and when required.

  Students will be assessed based on the following methods:

Assessment items/methods      Percentage/Marks
Class attendance and participation in the classroom 10%
Article Writing 10%
Speech Presentation  20%
Final Examination (overall assessment)  60%
Total  100%

6. Public Administration

Unit description or syllabus

This unit focuses on concepts and issues relating to administration and management with particular focus on managing public organisations towards providing effective public service delivery. The unit includes the approaches to public administration, the role of the three branches of Government covering the role of the Executive Branch, the Legislature and the Judiciary,  public goods and private goods, the distinction between public, private & Non-Governmental Organizations (NGOs), different approaches to management and their relevance in public administration/management, Organization and its Fit, Transition in public administration including public administration/civil service reforms in selected countries, public service delivery models and mechanism, law and public administration and Ethics and Public Accountability.

This module is designed to encourage participants to develop:

  • a basic knowledge of public administration to prepare them as future administrators and managers of public organizations
  • an understanding of key issues in public administration emerging internationally and capacity to relate these to public administration in Bhutan
  • the academic skills of participants in critical thinking, issue analysis, writing and presentation of materials

 

Learning outcomes:

At the end of the module, participants will be able to:

  1. understand the functioning of public administration from a broader perspectives taking into account the public service at its core and develop knowledge of contemporary issues in governance, management, administration;
  1. inject new skills and knowledge into the effective management of public organizations;
  1. understand and practice ethical management in their public organizations with accountability to self and others;
  1. contribute to improved management practices in the public sector based on the need of the country and taking into account the lessons from other countries; and
  1. develop a continuing interest in issues which impact on public administration. 

Timetable of learning activities

Sessions/Objectives Topic Reading Materials
Sessions 1 – 6To understand the objectives and expectations of the courseTo understand several perspectives on public administration and analyze the pros and cons of each INTRODUCTIONBriefing on the course objectives, assignments and evaluationINTRODUCTION AND APPROACHES TO PUBLIC ADMINISTRATIONManagerial ApproachPolitical ApproachLegal Approach Rosenbloom page 13-27Reading Notes  on the approaches to public administration
Sessions 7-12To understand the importance of public administration, the   emergence of the State, Constitution, the roles and responsibilities of 3 branches of GovernmentTo provide basic understanding of public administration and role of Government Introduction to Public AdministrationThe Role of StateWhat does Government do?The Constitution and the distinct Roles and Responsibilities of the Executive Branch, the Legislature, and the Judiciary Hughes, Chapter 4 “The Role of Government”The Constitution of the Kingdom of BhutanNotes on:The Role of the StateRole of the three branches of Government
Sessions No.13-18To introduce the evolution of management thoughts and its  relevance to public administration MANAGEMENT AND PUBLIC ADMINISTRATIONMANAGEMENT  The Evolution of Management ThoughtsKnowledge and skills related to planning, organizing, leading, and controllingManagement knowledge and skills required at various management levels with special focus on conceptual skills, human skills and technical skillsHow to understand and assess the internal and external environment in order to formulate relevant plans, policies and strategiesThe Role of Bureaucracy in Public Service Delivery including reforms in other countries Robbins and Coulter, Part I: “Introduction”Reading Notes: Classical, behavioural and contemporary approaches to ManagementAlbrow M (1970) and Beetham D (1996), Open University UK, “ Bureaucracy”Dowding Keith, “Hierarchy: Weber and the Old Model”Ferlie, E, Lynn L E. & Pollitt, C (2005),“Bureaucracy in the 21st Century”, Chapter 3.
Sessions 18-23To explore similarities and differences between management and administration in public and private sectors PUBLIC ADMINISTRATION AND PRIVATE MANAGEMENTPublic Goods and Private GoodsSimilarities and differences between public management and private managementThe role of NGOs in delivering public services Rainy G. Hal, “What Makes Public Organizations Distinctive?Ferlie, E, Lynn L E. & Pollitt, C (2005), “NGOs and Contracting”, Chapter 25, and “Public Private Partnerships and Hybridity”, Chapter 15. Ferlie, E, Lynn L E. & Pollitt, C (2005), Public and Private Management Compared, Chapter 4 Feigebaum H, Henig J and Hamnett C, The Political Underpinnings of Privatization
Sessions No. 24-26To understand the types of organizational structure and the search for an appropriate structure for a public sector organization. ORGANIZATION AND ORGANIZATION STRUCTURE:
Principles of organizationRe-structuring structure with technology and environment (internal and external)
Lecture Notes:Organization Structure

 

Sessions 27-31 To familiarize the participants on the salient features of the Bhutanese Legal system and introduce important national Acts and Government Regulations so that participants develop a sound knowledge of these while they serving in the public agencies LAW AND PUBLIC ADMINISTRATIONSalient features of civil and criminal law of BhutanNational Acts covering:DYT and GYT Acts,Wage Act,Citizenship Act,Inheritance Act

Cooperative Act

Anti-corruption Act

Bertelli, M “Law and Public Administration” (in Ferlie, Lynn & Pollitt)Other materials provided
Sessions 37-39Participants are able to apply knowledge and skills of management/public administration in solving selected public issues/problems PRESENTATIONS As per the given guideline given under Assessment

Lists of required texts/readings

Hughes, Owen E (2005) (4th Edition), Public Management and Administration: An Introduction, Palgrave Macmillan, New York

Ferlie, E, Lynn L E. & Pollitt, C (2005), The Oxford Handbook of Public Management, Oxford University Press, Oxford (Main text book of this course)

Feigenbaum, H, Henig J & Hamnett, C Shrinking the State, Cambridge University Press, Cambridge

Gormley, W (1994) Privatization Revisited, Policy Studies Review, Autumn/Winter, 13 (3/4)

Gunn, L (1992) ‘Perspectives on Public Management’ in Kooiman, J & Eliasson, K Managing Public Organisations: Lessons from Contemporary European Experience, Sage, London

Hatch, M Jo (1997), Organization Theory, Oxford University Press, Oxford

Pollitt, C (2003) The Essential Public Manager, Open University Press, Maidenhead.

Robbins, S P. and Coulter, M (1998), Management, Prentice-Hall of India, New Delhi

Rosenbloom, D H (1988), Public Administration: Understanding Management, Politics and Law

in the Public Sector, Random House, New York

Assessment details:

Presentation: 15 marks
Written Assignment 2: 30 marks
Mid-Term Examination 25
Final Examination: 25 marks
Class participation/contribution: 5 marks

 

6. Commercial Accounting I

Unit description and learning outcomes

This unit is designed to build sufficient understanding of commercial accounting and principles underlying financial statements for trainees at the PGDFM level. The trainees will be introduced to the accounting concepts, principles and tools so that they can use the knowledge and skills acquired in maintaining and as well as providing timely information with accuracy for decision making. The course will offer appropriate knowledge and skills in the area of accounting so that the trainees can develop a sound understanding of commercial accounting practices prevailing in the country.

After attending the course on financial accounting, trainees should be able to understand the accounting concepts, principles and assumptions; analyse the business transactions efficiently and preparation of final accounts. Besides, the students are expected to make various decisions of the business through the use of financial statement analysis tools- mainly the Ratio analysis.

Timetable of activities, such as lectures/ tutorials showing key dates and topics

Week Topic Sub Topics Objectives
1 Introduction to Accounting
  • What is accounting?
  • Difference between Accounting and Book-keeping
  • Need and objectives for Accounting
  • Users of Accounting
  • Types of accounting
  • Basic accounting terms

 

Be able to:

  • Describe the function of accounting and the nature and purpose of the information it provides
  • List the main fields of accounting and the activities carried on in each fields
  • State the objectives of accounting
  • Explain the accounting terms
  • Explain the accounting principles
Accounting Concepts ( GAAP)
  • Accrual Vs Cash Concept
  • Business Entity Concept
  • Dual Aspect Concept
  • Money Measurement Concept
  • Going-concern Concept
  • Realization Concept
  • Conservatism Concept
  • Accounting Period Concept
  • Consistency Concept
  • Matching Concept
  • Cost Concept
2 Capital & Revenue (Income, Expenditure & Receipts)
  • Classification of Income
  • Classification of Expenditure
  • Classification of Receipts
  • Understand the accounting equation and use it
  • Understand the effect of transaction on the equation
  • Be able to classify income and expenses depending on their nature
The Accounting Equation
  • Meaning of Accounting Equation
  • Procedure for developing Accounting Equation
  • Effects of Transactions on the Equation
3 Recording Transactions
  • The accounting process
  • Economic events- Business transactions & other (internal) events.
  • The Rules of Debit and Credit
  • Transaction analysis
  • Journal
  • Be able to describe the accounting process
  • Understand the rules in double entry accounting
  • Record in the general journal
  • Understand and differentiate different kinds of books of original entry
  • Prepare different kinds of subsidiary books

 

Book of Original Entry and Book of Final Entry
  • Cash Book
  • Purchases Book
  • Purchases Returns Book
  • Sales Book
  • Sales Returns Book
  • Bills Receivable Book
  • Bills Payable Book
  • Proper Journal
  • Ledger
  • Sub-Ledger
4 Bank Reconciliation Statement
  • Meaning
  • Factors contributing to differences
  • Preparation
  • Appreciate the purpose and importance of Bank Reconciliation statements
  • Explain the methods of preparing BRS
  • Be able to prepare BRS
5 Trial Balance and Rectification of Errors
  • Trail Balance
  • Need and Importance of Trial Balance
  • Disagreement of Trail Balance
  • Types of Errors
  • Locating Errors
  • One-Sided Errors
  • Two-Sided Errors
  • Rectifying accounting entries
  • Be able to prepare Trial Balance and explain its purpose
  • Be aware of the limitations of Trial Balance
  • Be able to locate errors and rectify them
6 Worksheet
  • Introduction to Worksheet
  • Preparing adjusted Trial Balance
  • Transfer information from the worksheet to the Financial Statement formats prescribed by the Rules and Regulations of Income Tax of Kingdom of Bhutan-2001.
  • Understand the need for worksheet
  • Prepare a worksheet from the unadjusted trial balance
  • Prepare adjusted trial balance using the adjusting entries
  • Transfer the data from adjusted trial balance to Income Statement and Balance sheet
  • Prepare the Financial Statements
Financial Statements
  • Income Statement
  • Balance Sheet
  • The Statement of Cash Flows
7 Adjusting the Accounts
  • Need for Adjusting Entries
  • Types of Adjusting entries
  • Prepayments/ deferred items
  • Accruals/ Accrued Items
  • Effects of Adjusting Entries

 

  • Be able to understand the need for adjusting entries
  • Identify the major types of adjusting entries
  • Be able to prepare adjusting entries for prepayments and accruals
  • Understand the process of closing the books
  • Prepare post closing trial balance
Closing the Books
  • Preparing Closing Entries
  • Posting Closing Entries
  • Preparing a Post Closing Trial Balance
8 Inventories
  • Meaning and Objectives of Inventory Valuation/ Importance of proper inventory Valuation
  • Classification of Inventories
  • Items to be included in Inventory
  • Costs included in Inventory Cost
  • Inventory System- Perpetual Inventory & Periodic Inventory System
  • Methods of Valuation of Inventories
  • Valuation of Inventory for Balance Sheet purposes
  • Be able to identify the types of items that should be included in Inventory
  • Understand the methods of managing inventory
  • Understand  the various inventory valuation methods
  • Be able to explain the effects of inventory errors on certain financial statement items
9 Accounting for Plant Assets and Depreciation
  • Plant Assets compared to other type of assets
  • Determination of cost of plant assets
  • Plant assets disposal
  • Meaning of Depreciation
  • Need for depreciation
  • Methods for Depreciation
  • Understand the accounting treatment for Property, Plant and Equipment.
  • Understand the concept of depreciation and its calculation using different methods
  • Explain the accounting treatment for disposal of assets
10 Reserves and Provisions
  • Meaning of Reserves and Provisions
  • Difference between Reserves and Provisions
  • Types of reserves & provisions
  • Accounting for Reserves and Provisions
  • Be able to describe the importance and meaning of reserves and provisions and bad debts.
  • Be able to account for reserves and provisions
  • Be able to prepare entries for bad debts
  • Understand the methods of estimating the amounts of bad debts expenses
Bad Debts
  • Meaning
  • Matching of Bad Debt Expenses with Sales
  • Provision for doubtful debts
  • Provision for discount on debtors
  • Writing off a Bad Debt
  • Estimating the Amount of Bad Debts
11 Tax Accounting
  • Introduction to various taxes levied on Bhutanese business and individuals
  • Introduction to Schedule of Rates
  • Recording of Taxes
  • Remittances of Taxes collected (as prescribed in the Rules and Regulations on INCOME TAX ACT OF KIGDOM OF BHUTAN-2001)
  • Understand the kinds of taxes and their rates in effect in Bhutan
  • Be able to fill in the prescribed remittance forms
  • Be able to prepare and record the payroll for a period
  • Understand the various deductions related to payroll and the accounting treatment of those deductions

 

Payroll Accounting (Bhutanese context)
  • Meaning of Payroll
  • Introduction to the Payroll Journal (2001)
  • Determining the Payroll
  • Components of deductions
  • Employer Contribution to PF
  • Preparation of a Payroll
  • Recording the Payroll
  • Recognizing Payroll Expenses
  • Recording Payment of the Payroll
  • Remittances of Payroll deductions
  • Introduction to the prescribed schedules
12 Financial Statement Analysis
  • Need for Comparative Analysis
  • Ratio Analysis
  • Fund and Cash Flow Analysis
  • Drawing conclusions through analysis

 

  • Understand the use of financial statement analysis
  • Understand the tools for analysis and be able to use them
13  Accounts for Non-Profit Organization
  • Meaning of Non-Profit Organization
  • Introduction to Final Accounts- Receipts and Payments; Income and Expenditure Account; and Balance Sheet
  • Items Peculiar to Non-Profit Organization
  • Understand the accounts prepared by non-profit organisations
  • Be able to prepare accounts for non-profit organisations

 4a           Lists of required texts/readings

  1. Fundamental Accounting Principles by Kermit D. Larson and Paul B.W.Miller, Published by Richard D.Irwin.Inc,USA
  2. Accounting Principles by Jerry J.Weygandt, Donal E.Kieso and Walter G.Kell, Published by John Wiley & Sons, Inc,USA
  3. Financial Accounting: Tools for Business Decision Making by Paul D. Kimmel, Jerry J.Weygandt,  and Donal E.Kieso

 Details of assessment item

Students will be assessed based on following methods:

Assessment items/methods Percentage Marks
Class attendance and participation in the classroom 5%
Class Test 20%
Tutorial Assignments and presentation 10%
Assignment 15%
Final examination (overall assessment) 50%
Total 100%

 

Term II

7. Tax and excise

Unit description and learning outcomes

This Unit is designed to impart the knowledge of tax administration to the trainees at the PGDFM so they can use the acquired knowledge in their workplace in general. Initially, the overview of the national tax system will be offered in order to understand the major forms of taxes. The trainees will be introduced to CIT, BIT, PIT and BST. 

Timetable of activities, such as lectures/ tutorials/ practicals/ field classes, showing key dates and topics (Information might be provided in the form of a table)

Sl # Topic Sub-Topics
1
  • Introduction to Public Finance

 

 

  • Principles of Taxation
  • Functions, categories and objectives of taxation
  • Public and Private Finances
  • Introduction of Taxation.
  • Characteristics of Tax
  • Circular flow of tax
  • Classification of tax
  • Canons of tax
  • Impacts, Incidences and effects of taxation
  • Taxation system in Bhutan.

 

2
  • Tax Evasion
  • Measuring, explaining, and controlling tax evasion
  • lessons from theory, experiments, and field studies

 

ARTICLE ANALYSIS (“Measuring, explaining, and controlling tax evasion: lessons from theory, experiments, and field studies” by James Alm

3 CIT and BIT

  • Definitions
  • Tax Liability
  • Definitions of Key terms
  • Categorization of tax liability
  • Commencement and Cessation of Tax Liability
  • Income
4 CIT and BIT cont…

  • Registration of tax payers and filing of Tax Returns under CIT and BIT
  • Allowable deductions for CIT and BIT

 

  • Registration process
  • Change of Registration
  • Filing of Income Tax Return
  • Correction of Tax  return
  • Postponement of Filing
  • General Principles
  • Books of Accounts to be maintained
  • Allowable deductions
5 CIT and BIT Cont…

  • Not Allowable Deductions
  • Tax Holidays and Incentives
  • Not Allowable Deductions
  • Tax Holidays
  • Tax Incentives
6 and 7 PRACTICE SETS ON BIT AND CIT(Individual and Group work)
8 PIT

  • Tax Liability and Exemption

 

  • Registration and filing of Tax Returns
  • Tax Liability
  • Taxation of categories of People
  • Tax Exemption
  • Registration
  • Change in registration
  • Cancellation  of registration
  • Filing of Income Tax return
  • Correction of tax return
  • Postponement of filing
  • Payment of Tax
9 PIT Cont…

  • Source of income, Deductions and Exemptions
  • Salary Income from employment
  • Income excluded from salary
  • Rental Income
  • Dividend Income
  • Interest Income from Fixed deposits
  • Income from Cash crops
  • Income from Other sources
  • General Deductions
10 PIT Cont…

  • Fines and Penalties
  • Recovery Measures
  • Fines and penalties
  • Recovery measures
11 PRACTICE SETS ON PIT(Group Work)
12 Sales Tax
  • Concept of Sales Tax
  • Bhutan Sales Tax

 

13 REVISION AND MOCK EXAM

4a           Lists of required texts/readings

The prescribed reading for this unit will be the weekly handouts and the Tax Manual (Bhutan).

4b           Materials and equipment

                No special equipment or material will be required.

5b           Details of assessment item

Students will be assessed based on following methods:

Assessment items/methods Percentage Marks
Assignment (individual/group) 20%
Mid-term class test 20%
Final examination 60%

 8. Revenue accounting

Unit description and learning outcomes

       

This course is designed to impart the knowledge and skills of revenue Accounting procedures to the trainees of PGDFM so that the trainees understand the concept of revenue accounting in their workplace.

Initially the overview of the national revenue system will be offered in order to understand the major sources of revenue, classification of tax and non-revenue tax and the revenue trends in the country. It will then be followed by the roles and responsibilities for collecting and depositing agencies, Regional Revenue and customs office and the financial institutions.

Timetable of activities, such as lectures/ tutorials/ practicals/ field classes, showing key dates and topics (Information might be provided in the form of a table)

Week Topic Sub-Topics
1
  • Introduction and overview of the National Revenue System

 

 

  • Roles and Responsibilities
  • Major sources of revenue
  • Classification of tax and non tax revenue
  • Revenue trends
  • RRCO and its jurisdiction

 

  • Collection of revenue
  • Mode of Collection
  • Deposit of Revenue
  • Accounting and maintenance of records
  • Reporting to RRCO
  • Roles and responsibilities for Dzongkhang revenue clerks.

 

2
  • Revenue Accounting Procedures

 

  • Procedures for collections, deposit and Accounting of Government Revenue

 

  • Collection procedure
  • Cancellation of revenue receipts
  • Deposit of revenue, fines and penalties
3
  • Procedures of Accounting and reporting at agency level.

 

  • DRC and RRCO Level Accounting Compilation and reporting Procedures

 

  • Accounting and maintenance of records
  • Reporting to RRCO

 

 

  • Accounting compilation procedures
  • Records to be maintained
  • Reporting to MoF(in case of DRC) and DRC (Head Office, in case of RRCO)
  • Compilation and reporting to MoF monthly and quarterly review.
4
  • Refund and Subsidiary Budget Accounts
  • Procedures for Bank
  • General guidelines on refund
  • Refund procedures for RRCOs
  • Subsidiary Budget Account
  • Refund procedure for DRC, Head office
5
  • Guidelines for requisition, custody and use of revenue depository Challan.
  • General Features for Revenue Money Receipts  and Depositing Challans
  • Maintenance of Stock Accounts for revenue Money Receipts and for Bank Deposit Challans.
  • How revenue money  receipts are issued and depositing challans prepared at different levels.
6
  • Customs and Excise

 

7.13 Revenue Accounting System

4a           Lists of required texts/readings

The prescribed reading for this unit will be the Revenue Accounting Manual of the Kingdom of Bhutan.

4b           Materials and equipment

No special equipment or material will be required.

5b           Details of assessment item

Students will be assessed based on following methods:

Assessment items/methods Percentage Marks
Mid-term class test 40%
Final examination 60%

 9. Commercial Accounting II

Unit description and learning outcomes

This course is designed to provide hands on practice of the accounting principles taught from commercial accounting I unit offered in term one. Trainees will be using the accounting concepts and principles to enable them to apply their knowledge and skills in maintaining books of accounts in their respective workplaces. The trainees are expected to be able to prepare

Timetable of activities, such as lectures/ tutorials showing key dates and topics

Week Topics Learning Objectives
1 Supporting Documents
  • Identify different types of supporting documents
  • Prepare supporting documents for businesses
2 Accounting Vouchers
  • Identify different types of accounting vouchers and their uses
  • Prepare accounting vouchers based on the supporting documents
3 & 4 Accounting Journals
  • Understand the meaning and use of various Journals
  • Prepare Journals from business transactions
5 &6 Accounting Ledgers
  • Understand the various types of Ledgers and their uses
  • Index the accounts
  • Post Journal entries into Ledgers and Sub-Ledgers
7 Payroll Accounting
  • Understand the meaning of Payroll Accounting
  • Understand the implications of various deductions on the various books of accounts
  •  Prepare Payroll Journals
8 & 9 Accounting for TDS
  • Understand the meaning of TDS accounting
  • Understand the implications of various deductions on the various books of accounts
  • Record TDS as and when is it deducted and paid
10 & 11 Worksheet
  • Understand the use of worksheets
  • Prepare worksheets from the Ledgers, and Cash book
12 Preparation of Financial Statements
  • Prepare Trial Balance, Profit & Loss A/c and Balance sheet with the information from worksheet and the various books of Accounts
13 Bank Reconciliation Statement (BRS)
  • Understand the meaning and use of BRS
  • Determine the causes of difference between cask Book and Pass Book
  • Prepare BRS

4a           Lists of required texts/readings

Prescribed reading materials should be available in the library. Hand outs will also be provided.

  1. Fundamental Accounting Principles by Kermit D. Larson and Paul B.W.Miller, Published by Richard D.Irwin.Inc,USA
  2. Accounting Principles by Jerry J.Weygandt, Donal E.Kieso and Walter G.Kell, Published by John Wiley & Sons, Inc,USA
  3. Financial Accounting: Tools for Business Decision Making by Paul D. Kimmel, Jerry J.Weygandt,  and Donal E.Kieso

In addition to the above mentioned text book, trainees will be provided enough copies of the following work sheets; like Journals, Ledgers, Cash Book, Vouchers, Financial Statement formats, work sheets, etc.   

Details of assessment item

Students will be assessed based on following methods:

Assessment items/methods Percentage Marks
Class attendance and participation in the classroom 10%
Class Test 20%
Final examination (overall assessment) 70%
Total 100%

10. Development Policies and Programmes

Unit description and learning outcomes

Civil Service in Bhutan is a very important instrument of socio-economic development. All civil servants are expected to be well versed in the developmental policies and programmes and take ownership in successful implementation. In such background, this unit aims to expand the knowledge base of the participants, get them connected to mainstream development and help them to take on the responsibilities in a more meaningful way.

At the end of the unit, participants will be able to identify critical development policies and programmes, articulate their rationale, apply suitable strategies and take ownership in their implementation.

Timetable of activities, such as lectures/ tutorials/ practicals/ field classes, showing key dates and topics (Information might be provided in the form of a table)

                Session 1:            GNH:  The Bhutanese Development Philosophy

                Session 2:            Development Policies and Planning in Bhutan

                Session 3:            Decentralization and Local Governance

                Session 4:            Employment Policies and Employment Planning in Bhutan

                Session 5:            Education-Policies and Plans

                Session 6:            Industrial Development

                Session 7:            Agricultural Development

                Session 8:            Good Governance and Administrative Reforms

                Session 9:            Privatization and Private Sector Development

                Session 10:          Role of NGO’s in Development

                Session 11:          Policies and Programmes for Health Care

                Session 12:          Environmental Policies and Programmes

4a           Lists of required texts/readings

There is no prescribed text for this unit. Required readings and appropriate materials will be supplied to the students in advance.

Details of assessment item

The essays will be rated using the following criteria:

Assessment Criteria Percentage Marks
Content- comprehensiveness and relevance of the matter being considered 25
Analysis- originality of ideas 25
Evidence of research 20
Demonstrated understanding of the topic being presented 20
Structure of ideas 10

11. Corporate Finance

Unit description and learning outcomes

This unit is designed to impart the knowledge of financial management to the students of PGDFM so that they can use various financial management tools to analyse and make informed financial decisions. Initially, the basic financial management concepts will be offered such as understanding financial statements and ratio analysis techniques to study the financial performance of the firm. It will then be followed by important tools that are used in financial decisions making such as understanding time value of money, risk and return trade-off, capital investment decision, business financing, capital structure and leverage, and cost of capital. Other managerial financial decision making and management tool such as valuations, budgeting, working capital management  and dividend polices will also be included as part of this unit.

At the end of this unit, students should be able to analyze and interpret the financial performance of the corporate entities, take informed financial decisions in corporate set up, and make sound personal financial decisions. Other operational decisions such as working capital management and business financing are also the expected outcomes of this unit.

Timetable of activities, such as lectures/ tutorials/ practicals/ field classes, showing key dates and topics (Information might be provided in the form of a table)

Week Topic Sub-Topics
1 Introduction to Financial Management An overview of Financial Management, Finance functions in the organization, Finance-related goals of corporation. Principles of Financial Management and Business Ethics.
2 Financial Statements: An overview and construction of Financial statementsAnalysis of Financial Statements (Ratio Analysis) Income Statements, Balance Sheet, Cash Flow Statements and Statement of Retained Earnings.Liquidity Ratio, Asset Management Ratio, Debt Ratio, Profitability Ratio and Market Ratios.
3 The Financial Environment Primary markets, secondary markets, Financial Institutions & Interest rates.
4 Time Value of Money PV, FV, Perpetuities, Annuities, Consumer loans, Semi-annual and other compounding approaches. Time value Tables and their construction.
5 Risk and Rate of Return Return:- its measurement, Risks:- its measurement. Stand-alone Risks, Portfolio Risk, Risk measurement tools, Diversifiable and Market Risks & CAPM.
6 Stock Valuation (Valuation of Debt & Equity) Valuation of Debt, Common Stock, Market for common stock, Common stock valuation methods: Net worth, Market Capitalization, Book value method.
7 Capital Budgeting ( capital investment decisions) Determination of cash flows, capital budgeting decision rules, payback period, NPV & IRR, Risks considerations in Capital Budgeting
8 Working Capital Management Working Capital Terminology, Working Capital Cycle, Capital Assets investment policies, Zero Working capital, cash management, cash budget, cash management techniques.
9 Capital Structure and Leverage The target capital structure, determining the capital structure: Equity Financing, Debt Financing or Hybrid Financing.
10 Cost of Capital Weighted Average Cost of Capital (WACC), Cost of Debt, Cost of Preferred Stocks, Cost of Retained Earnings, Cost of Equity (external).
11 Dividend Polices Dividend Vs. Capital Gains, Dividend polices Dividend, Dividend Models Policy in practice.
12 Financial Forecasting Financial Statement Forecasting, the constant ratio method, the AFN formula.
13 To wrap and recapitulate the above sessions Selected difficult topics

4a           Lists of required texts/readings

There is no prescribed single textbook for this unit. However, following textbooks will the part of unit reading material. In addition to this weekly additional reading materials will be provided.

  • Gitman, L.J. 2012,  Principles of Managerial Finance, 11th Edition, Pearson
  • Parrino, R & Kidwell, D. 2009, Fundamentals of Corporate Finance, Wiley India Pvt. Ltd
  • Schall, L.D & Haley, C.W. 1997, Introduction to Financial Management, 6th edition, McGraw-Hill, Inc.
  • Chandra, P. 1997, Financial Managment: Theory & Practice, 4th Edition, Tata McGraw-Hill Publishing Company Ltd. New Delhi.
  • Pandey, I.M. 1996, Financial Management, 7th Edition, Vikas Publishing Houes Pvt. Ltd., New Delhi.
  • Van Horne, J.C. & Wachowicz, Jr. J.M. 1995, Fundamentals of Financial Management, 9th edition, Prentice-Hall
  • Brealey, R.A., Myers, S.C. & Marcus, A.J. 1999, Fundamentals of Corporate Finance,  2nd edition, Irwin/McGraw-Hill 

5b           Details of assessment item

Students will be assessed based on following methods:

Assessment items/methods Percentage Marks
Class participation – class discussion and tutorial participation 5 %
Assignment (individual/group) 15%
Mid-term class test 20%
Final examination 60%

 12. Managerial Statistics

Course Objectives:

This course is designed to build a foundation on statistical concepts and tools for students at the PGDFM level so that they can use these tools in analyzing managerial problems and making decisions. They will be able to analyze international, national and sectoral level statistics on issues that would affect their business and help to make informed decisions. The course will offer an application of theory using both qualitative and quantitative tools and techniques.

Evaluation Process:

Students will be evaluated based on their performance on assignments/problem solving, class tests and final examination.  The class tests will be rated for 20%, assignment/problem solving for 20%, and the final exam for 60%. The Class Test and Final Examination will take place within the planned 40 teaching sessions.

Teaching Materials:

  • Prescribed Reading/teaching materials:
  • Core text I.C
  • Sharma, K.J.: Business Statistics (7th edition), Pearson Education (Singapore) Pte. Ltd. 

Details of Subject Breakdown, Learning Objectives and Teaching Schedule

No. of

Sessions

Topic

Sub Topics

01

Introduction
  • Definition of Statistics
  • Scope, Functions, Limitation and importance of Statistics
  • Collection of Data
  • Classification & Tabulation
  • Graphical representation of frequency distribution

 

03

Measures of Central Tendency and Dispersion
  • Mean, Median & Mode
  • Range, Quartile Deviation, Mean Deviation and Standard Deviation. Relative measures of dispersion.
  • Skewness and Kurtosis

08

Probability and Expected Value
  • Elementary problems of Probability
  • Addition, Multiplication, Baye’s Theorem
  • Random Variable and Mathematical Expectation

03

Statistical Decision Theory
  • Introduction to Decision-Making
  • EMV, Maximax and Minimax Criterion
  • Maximin and Minimin Regret Criterion

04

Theoretical Distribution
  • Binomial, Poisson, Normal and Uniform distribution

10

Sampling and Test of Significance Census Vs Sampling

  • Advantages of Sampling
  • Methods of Sampling – Random, Stratified, Systematic Sampling
  • Sampling Distribution of Means & Proportions
  • Central Limit Theorem
  • Determination of Sample Size
  • Point Estimation and Interval Estimation
  • Test of Significance – Test for Proportions & Means (Large sample, Small sample), both One Population and Two Population

03

Applications of Chi-square
  • Chi – Square Test
    • Independence of Attributes
    • Goodness of Fit
    • Confidence Interval for Variance
    • Test of Significance of Variance of Single Population

03

Test for the Equality (Three or more population means and two population variance)
  • Analysis of variance [ANOVA]

(Only one way classification)

  • Testing equality of variances of two population

04

Correlation and Regression
  • Scatter Diagram
  • Karl Pearson’s Correlation Coefficient
  • Spearman’s rank Correlation Coefficient
  • Regression for two variables
  • Standard Error of Estimate
  • Test of Significance of Regression Coefficients
  • Concepts of r2 and its Statistical Significance

04

Analysis of Time Series and Business Forecasting
  • Definition and Components of Time Series
  • Measurement of Trend and Seasonal Variations
  • Methods of Forecasting

02

Test and Evaluations
  • Test-1 after completion of Topic 5.
  • Final Exam after completion of Syllabus.

Term III

13. Tally

Unit description and learning outcomes

This unit is designed to enable trainees to learn the computerised application of accounting concepts and principles underlying financial statements using the Tally software. This will enable them to use the software and apply the knowledge and skills acquired in this unit in maintaining and as well as providing timely information with accuracy for decision making. The course will offer computerised application in the area of accounting so that the trainees can develop a sound understanding of commercial accounting practices.

Timetable of activities, such as lectures/ tutorials/ practicals/ field classes, showing key dates and topics (Information might be provided in the form of a table)

Week

Topic

Sub-Topics

Objectives

1

Tally 9 Installation and Language Setup

Introduction to Tally 9

Features of Tally

Requirements for installing Tally 9

Procedures for Installing Tally 9

Running/ Loading Tally

Tally Licenses (Single User and Multi User)

Licensing Menu

Tally Upgradation

Language Set up

Opening Screen of Tally

Creating Company

Loading/selecting Company

Shutting a Company

Altering/Modifying a Company

Buttons on the button Panel

Configuring Company

Be able to install Tally 9 by understanding the minimum requirements.

Be able to configure and upgrade the software.

Get Started with Tally by knowing how to create/alter /delete companies.

Be familiar with the buttons and the gateway of Tally

2

Accounting Information

Menu Related to Accounts

Groups

Managing Groups

Expert Usage

Ledgers

Advanced Usage of Ledgers

Expert Usage of Ledgers

Cost Categories and Cost Centre

Cost Centre

Know and understand the usage and creation of Groups, Ledgers and Cost Centers

3

Vouchers in Tally

Vouchers in Tally

Configuring Vouchers

Creating/Customizing Vouchers

Displaying Vouchers

Altering Vouchers

Duplicating a Voucher

Cancelling a Voucher

Pre Defined Vouchers

Understand the usage and creation of different vouchers in tally.

PRACTICE SET 1 (WITHOUT INVENTORY)

4

Inventory Information

Stock Groups

Stock Categories

Stock Item

Godowns

Voucher Types

Units of Measure

Be able to understand and Create Stock Groups, Stock Items, Gwodowns and units of Measures.

5

Pure Inventory Vouchers

Types of Inventory Vouchers

Understand the usage and creation of Inventory Vouchers

PRACTICE SET 2 (WITH INVENTORY)

6

Purchase/Sales Orders and Invoices

Reports

Purchase Order

Sales Order

Viewing Order Position

Invoices

Trial Balance

Balance Sheet

Profit and Loss Account

Stock Summary

Ratio Analysis

Display Menu

Day Book

Bank Reconciliation Statement

Understand the usage and creation of Purchase and sales orders and Invoices.

Understand the usage of Accounting Reports

7

Internet linkage

TDS Module

E-Mail

Web Publishing

Enabling TDS in Tally

Ledgers pertaining to TDS

Creating TDS Voucher Types

Voucher Entry

TDS Reports

Know how to email reports and how to publish reports

Understand and know how to treat TDS and generate reports.

8

PRACTICE SET 3

9

Pay roll Module

Enabling Payroll Module

Payroll Menu

Managing Pay head

Managing Employee Groups

Managing Employees

Salary Details

Managing Units

Managing Voucher Types

Pay roll Reports

Buttons on the button Panel

Payroll Register

Statutory Deductions

Payroll Special Features

Manage the Payroll functions of Tally and generate reports.

10

PRACTICE SET 4

11

PRACTICE SET 5

12

PRACTICE SET 6

13

REVISION

4a Lists of required texts/readings

The prescribed reading for this unit will be :

Tally 9 (Text) by Namrata Agrawal

Reading Materials and Handouts prepared by the unit convener.

5b Details of assessment item

Students will be assessed based on following methods:

Assessment items/methods

Percentage Marks

QUIZ

20%

Mid-term class test

30%

Final examination

50%

Final examination

60%

14. Principles of Auditing

Unit description and learning outcomes
This module is expected to equip the trainees with the knowledge in the fundamental principles of auditing. It is also expected to impart sufficient knowledge to use audit tools and techniques and create awareness of the responsibilities, risk and liabilities of an auditor. Further, this module would familiarize the trainees with latest auditing issues and the international auditing standards.
At the end of this module the trainees should be:

Knowledgeable on principles of auditing and general auditing rules and regulations; and

Appreciate and apply the auditing knowledge to carryout financial audit.

Timetable of activities, such as lectures/ tutorials, showing key dates and topics

Week

Topic

Sub-Topics

Objectives

1

The Nature, Purpose, Scope and Kinds of Audit

Need for Auditing

Meaning of Audit

Objectives, and scope of audit

Kinds of Auditing

Understand the basics of Auditing

Be familiar with Auditing Terminologies

Understand the scope of Auditing

2

Basic Principles of Auditing and Auditing Standards

Skills and competence

Independence of the auditor

Due Audit Care

Responsibility of the auditor

Ethical Code of Conduct

Working papers and Audit evidence

Surprise check

Fraud and errors

Materiality

Work performed by others

Responsibility of joint auditors

Understand the basic principles of Auditing

Understand the various auditing standards applicable to an auditor

3

Audit process and Audit Plan

Appointment of auditor

Engagement letter

Audit Planning

Audit marking

Control over quality of audit work

Audit programme

Audit Note Book

Audit procedure

Audit working papers

Audit files

Audit evidence

Understand audit process; starting from audit appointment to quality control

Understand the steps involved in planning an audit activity

4

Auditing tools and techniques and Audit evidence

Inspection of documents and records

Physical inspection

Observation

Inquiry

Confirmation

Computation and re-tracing book-keeping procedures

Analytical procedures balance

Understand the tools used by auditors to gather evidence and to verify those

Understand the difference between the different tools

Understand the various kinds and sources of audit evidence

Understand the various management assertions and the established criteria

5

Internal Control over Financial Reporting

Internal Control and need for Internal Control

Essential characteristics of IC

Evaluation of Internal controls

Internal Control evaluation questionnaire

Auditors position with respect to internal control

Understand the meaning and need for internal control system

Understand the Components of Internal Control System

Understand the relationship of controls to auditing

6

Internal Audit

What is internal Auditing

Need for Internal Auditing

Internal Auditing standards

Internal Auditing Planning;

Internal Audit Engagement, Internal audit tools and techniques

Communication skills of an internal Auditor

Internal Audit Report Writing

Understand the Objectives of internal auditing

Understand the various standards applicable to an internal auditor

Be able to write and communicate audit findings

7

External Resource Person from RAA to share practical experience on topics like; Audit process and Audit plan, Audit techniques, and Internal Control System

8

External Resource Person from Central Coordinating Agency office, (Internal Audit office) to share practical experience on Internal Auditing in Bhutan

9

Approaches to Auditing and Audit Sampling

Audit Risk and Business Risk

Enterprise Risk Management (ERM) Process

The Audit Risk Model

Approaches to Auditing

Concept of sampling and its relevance for the auditor

Understand the importance of understanding the business and its risk

Understand the ERM process and the use of Audit risk model

Understand the various approaches to Auditing

Understand the need for sampling

10

Vouching and Verification of transactions, Verification and valuation of assets and liabilities

Meaning of vouching

General principles of vouching

Kinds of vouchers

Vouching various types of transactions

Verification and valuation of assets and liabilities

Understand the meaning and importance of vouching and verification

Understand the process of vouching and verification of transactions and assets and liabilities.

11

Company Audit and Audit in EDP environment

Appointment of Company auditors

Qualification and disqualification of auditors

Right and powers of auditors

Liabilities of an auditor

Duties of company auditors under the Companies Act

Auditing around or through the Computer

Approaches to audit under computerized accounting system

Vouching computerized accounting system

Understand the provisions in the Companies Act regarding the appointment and removal and rights and duties of an auditor

Understand the process of auditing of an Electronic Data Processing Environment.

12

Audit Report and Communication, Audit Liability, and Current Auditing Developments/Issues

Meaning and importance of audit report to shareholders and other stakeholders

Basic elements of audit report

The legal environment of Audit liability

The Approaches to mitigate liability exposure

Current issues in auditing

Understand the need for communicating audit findings to the relevant report users

Understand the causes of audit liability and means to mitigate that liability

To understand the current issues and developments in auditing.

13

External Resource Person from Royal Audit Authority to share practical experience on audit techniques, Audit reporting, Audit Liability and Current Auditing Developments/issues.

4a Lists of required texts/readings
Prescribed reading materials should be available in the library. Hand outs will also be provided.

Reference Books:

Fundamentals of Auditing, Kamal Gupta, Ashok Arora (Tata MeCraw-Hill Publication).

Student’s Guide to Auditing and Assurance, Aruna Jha (Taxmann)

Principles and Practice of Auditing, R.G. Saxena (Himalayan Publishing House)

Auditing: Principles and Practice, D.S. Sharma (Taxmann)

5b Details of assessment item
Students will be assessed based on following methods:

Assessment items/methods

Percentage Marks

Class attendance and participation in the classroom

10%

Class Test

25%

Tutorial Assignments and presentation

5%

Final examination (overall assessment)

60%

Total

100%

15. Introduction to Research Methodology

Course Description

“If you could learn only one thing in graduate school, it should be how to do scholarly research” (Garry King)
This course aims impart the knowledge and understanding of research for private trainees of Post Gradtuate Diploma of Public Administration(PGDFM) students. It is aimed at making the students/trainees understand the the research components of both qualititative and quantitative research. Specifically, The course is on getting introduced the aspects and strategies of understanding what research is and how can one get into locating, identifying, critiquing research questions, defining objectives, designing research design and applying methodologies, analyse and to come up with a proposal. This would also help students to conduct research translate these findings into work that can be published in the form of Research report/project in theri future career.
This is a demanding class but one that should reward you handsomely in your work place and your future endeavour in life– from academic and practical perspectives. Theerefore, the unit demands your hardwork and commitment with honesty to assigned readings, exercises and active participation in both class and in feild.

Learning Outcomes

On successful completion of this course, you will be able to:

demonstrate the understanding of knowledge of key terms and concepts commonly used in empirical research; including literature review, identifying interesting research question, objectives, choose proper research design and methodologies to collect datas, analyse and perform basic statistical methods.

Prepare a research proposal with clear statement of the problem, objective setting, hypothesis, identifying clear research type, requirement of data sources and types, design questionnaire for the field research and finally aquire the capacity to academic writing and future researches.

Details of Module:

Week

Date

Topic

Lecturer & Tutor

Week 1-2

23 & 30 May

Introduction and overview:
-Summary of unitoutline and assessment
-What is Research?
-Ojectives/types of research
-Research approaches: qualitative versus quantitative and mix methods
Methods versus methodology

Research process
-What is good relevant research topic and how can we find one (Povitivist versus constructivist)
-Creteria of good research
Research Problem and Proposal:
-definining research problem/questions/issue (could be micro, meso or macro)
-Techniques in defining a problem
-Selecting a problem

K.P Loday & Namgay Dem

Week 3-4

6 & 13th June

Literature Review (LR)
-Purpose of LR
-How does LR inform your Research Questions
-Sources and how to do LR, citation, references
Research Design:
-Types of research designs and Questions,
What is Hypothesis and Measurement (unit of analysis) and testing
-Casual Inferecnes,
Ethical consideration of research

K.P loday & Ugyen Lhendup

Week 5

20 June

Sampling Design:
-Different types of sampling designs (probability and non probality)
– Steps in sampling designs
-Characteristics of good sample designs

Ugyen Lhendup & Namgay Dem

Week 6

27 June

Methods of Data Collections:
-Types of data (primary and secondary)
-survey, interview, questionnaires, content analysis, FGDs etc…
-selcting a appropriate methods for data collection
-guidelines for constructing questionnaire and conducting successful interview
-Difference between Survey Experiment

Ugyen Lhendup & Namgay Dem

Week7- 8

4 & 11July

Measurement and Scaling techniques

Measurement in Research

sources of error in measurement

scaling classification and techniques

Phuntsho & Chonga

Week 9-10

18 & 25 July

Intrepretation, Report Writing and presentation:
-Developing research proposal, its componens and expectations with samples
-Components, steps and layout in report writing and tips for presentation

Ugyen Lhendup & Phuntsho

Week 11-12

1 & 8 August

Analysing Quantitative data:
-Statistics and software (SPSS) in analysis
-defining, interpreting and measuring central tendency, chi/t square, regression and SD analysis.
-testing of hypothesis
-multivariate, bivariate and multivariate analysis

Phuntsho & Chonga

Week 13

15 August

Proposal Presentation

To be evaluated by all concerned faculty

Summary of Assessment

Assessment

Time/Length

Mode of Submission

Due Date/Time

Weight

1. In-class short note test/Quiz

20-30 minutes (covers lecture from week 1-7)

In person after test

Wednesty, July 10: 9.30am-10.00am

10%

2. Individual Project Proposal

2,000-2,500 words

Hard and Soft copy to PA

Friday, August 9: by 5 pm.

20%

3. Individual project report

7,000-10,000 words

Hard and Soft copy to PA

Friday 22, November by 5 pm.

50%

4.Individual PR Presentation

15 minutes with 15 minutes of Q&A

Hard and Soft copy to PA

3rd to 7th December

20%

List of Readings references and Texts:

Week 1 & 2: Introduuction and Overview:

1. Kothari, C.R, ‘Research Methodology:Methods and Techniques’ (2nd revised edition), chapter 1-Research methodology:An Introduction.
2. Bryman, Alan, Social Research Methods. (3d edition) Oxford University Press, 2008, Chapter 1
3. Creswell, John W., Research Design (3 edition). SAGE, 2009, Chapter 1
4. McNabb, David, 2010 ‘Introduction to Qualitative Research Methods’, in
McNabb, D., Research Methods for Political Science (2nd edition), M.E.
Sharpe, Chapters 16, 21

Week 3: Defining Research Problem and Proposal:

Kothari, C.R, ‘Research Methodology:Methods and Techniques’ (2nd revised edition), chapter 2-Research problem.

Writing proposal……………?

Week 4: Literature Review:

Mary Antonesa et al, ‘Researching and Writing your thesis: a guide to PG students’ Chapter 4- Review of Literature

Week 5: Research Design:

Kothari, C.R, ‘Research Methodology:Methods and Techniques’ (2nd revised edition), chapter 3-Research Design.

Creswell, John W., Research Design (3 edition). SAGE, 2009, Chapter 1

Recomended:

Monroe, Alan D. (2000) Essentials of Political Research. Westview,

Chapters 1, 2,

Shively, Craft of Political research, Chapters 2, 3, 4, 5 and 6

Week 6: Sampling Design:

Kothari, C.R, ‘Research Methodology:Methods and Techniques’ (2nd revised edition), chapter 4-Sampling Design.

Week 7: Measurement and Scaling Techniques:

Kothari, C.R, ‘Research Methodology:Methods and Techniques’ (2nd revised edition), chapter 5- Measurement and Scaling Techniques.

Week 8: Methoods of data Collection:

Kothari, C.R, ‘Research Methodology:Methods and Techniques’ (2nd revised edition), chapter 6- Methods of data collections

Miles, Matthew B. and A. Michael Huberman. (1994) Qualitative Data

Analysis: An Expanded Sourcebook. Second ed. Sage, Chapters 1 and 4.

Week 9,10 &11: Analysing quantitative data:

……….?

Week 12: Writing report and presentation:

Kothari, C.R, ‘Research Methodology:Methods and Techniques’ (2nd revised edition), chapter 6- Intrepretation and report writing

Reshef, Nina “ Writing Research Reports”, in Frankfort-Nachmias, Chava

and David Nachmias, Research Methods in the Social Sciences, (7 edition),
Worth Publishers 2008, Appendix B

Yanow, Dvora. (2006) “Qualitative-Interpretive Methods in Policy Research.”

In Frank Fischer, Gerald J. Miller, and Mara S. Sidney, eds., Handbook of
Public Policy Analysis: Theory, Politics and Methods. CRC Press, Chapter 27