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B-COM-FINANCE-TAXATION in Finance Taxation at KMM College of Arts & Science
Ernakulam, Kerala
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About the Specialization
What is Finance & Taxation at KMM College of Arts & Science Ernakulam?
This Finance & Taxation program at KMM College of Arts & Science focuses on equipping students with comprehensive knowledge in financial management, accounting practices, and the intricate Indian taxation system. It delves into both direct and indirect taxes, preparing graduates for dynamic roles in India''''s rapidly evolving financial sector. The program emphasizes practical skills for compliance and strategic financial decision-making, aligning with industry demand for tax and finance professionals.
Who Should Apply?
This program is ideal for fresh graduates from commerce or science backgrounds seeking entry into finance, accounting, or tax advisory roles. It caters to those aiming for careers as tax consultants, financial analysts, or accountants in Indian companies. Working professionals seeking to specialize in tax laws or financial planning can also benefit, as can career changers aiming to transition into the burgeoning Indian financial and taxation industry.
Why Choose This Course?
Graduates of this program can expect diverse India-specific career paths such as Tax Consultants, Financial Accountants, Auditors, Investment Analysts, and GST Practitioners. Entry-level salaries typically range from INR 2.5 Lakhs to 4.5 Lakhs per annum, with significant growth trajectories in Indian MNCs, startups, and public sector banks. The curriculum also aligns with foundational knowledge required for professional certifications like CA, CS, and CMA.
Student Success Practices
Foundation Stage
Master Core Accounting & Economic Principles- (Semester 1-2)
Focus intensely on understanding fundamental accounting concepts, economic theories, and business laws taught in the first two semesters. Regularly practice journal entries, ledger postings, and financial statement preparation. Form study groups to discuss complex topics and clarify doubts early on.
Tools & Resources
Textbooks, solved examples, accounting software tutorials (e.g., Tally introduction), online quizzes on principles of economics
Career Connection
A strong foundation ensures easier understanding of advanced topics like corporate accounting and taxation, crucial for future finance roles and competitive exams.
Develop Communication & Quantitative Skills- (Semester 1-2)
Utilize common courses in English and additional language to enhance written and oral communication. Actively participate in presentations and debates. Simultaneously, hone quantitative abilities through business statistics and quantitative techniques, practicing problem-solving daily.
Tools & Resources
Toastmasters clubs (if available), English language labs, Khan Academy for statistics, Excel for data analysis
Career Connection
Effective communication and analytical skills are vital for financial reporting, client interaction, and data-driven decision making in any business environment.
Explore Business & Management Fundamentals- (Semester 1-2)
Beyond classroom learning, read business newspapers and magazines like The Economic Times and Business Today. Understand basic management principles and entrepreneurial concepts to grasp the broader business context in which finance and taxation operate.
Tools & Resources
Business newspapers, industry blogs, ''''Principles of Management'''' by Koontz & O''''Donnell, NPTEL lectures on entrepreneurship
Career Connection
A holistic business understanding helps in appreciating the strategic importance of finance and taxation, making graduates more valuable to employers.
Intermediate Stage
Deep Dive into Corporate Accounting & Taxation Basics- (Semester 3-5)
From Semester 3, actively engage with Corporate Accounting and the introduction to Income Tax. Solve numerous practical problems related to share capital, debentures, and income calculation for individuals. Attend workshops on Tally ERP.9 for practical accounting software skills.
Tools & Resources
Syllabus-prescribed tax law books, Tally ERP.9 software (trial/educational version), online tutorials for accounting software
Career Connection
These skills are directly applicable in financial accounting and tax compliance roles, making you job-ready for accounting firms and corporate finance departments.
Seek Industry Exposure through Internships/Projects- (Semester 4-5)
Look for short-term internships during semester breaks or pursue mini-projects focusing on financial analysis, market research, or business plans. This practical experience is crucial for understanding real-world applications of theoretical knowledge.
Tools & Resources
College placement cell, LinkedIn, Internshala, local CA firms, small businesses for project opportunities
Career Connection
Internships provide hands-on experience, build professional networks, and significantly enhance employability in competitive Indian job market.
Participate in Finance & Commerce Competitions- (Semester 3-5)
Join college-level or inter-collegiate competitions like stock market simulations, budget analysis challenges, or business quizzes. This builds confidence, tests knowledge under pressure, and develops teamwork and analytical thinking.
Tools & Resources
Virtual stock market platforms, financial news websites, college commerce association
Career Connection
Such participation adds value to your resume, showcases initiative, and hones problem-solving skills highly valued by employers in the finance industry.
Advanced Stage
Specialize in Advanced Taxation & Financial Management- (Semester 6)
Dedicate significant effort to master advanced topics in Income Tax (assessment of various entities), GST, Cost Accounting, and Financial Management. Practice case studies and complex problem-solving. Consider pursuing certifications relevant to tax and finance.
Tools & Resources
Advanced tax manuals, financial modeling tools, NISM certifications (e.g., Equity Derivatives, Mutual Funds)
Career Connection
Specialized knowledge directly prepares you for roles as tax advisors, financial analysts, and management accountants in top Indian companies.
Focus on Placement Preparation & Networking- (Semester 6)
Actively engage with the placement cell. Prepare a professional resume, practice group discussions, and mock interviews. Network with alumni and industry professionals through LinkedIn or college events to explore job opportunities and gain insights.
Tools & Resources
College placement services, LinkedIn, online interview preparation platforms (e.g., InterviewBit, MockAI)
Career Connection
Robust preparation and a strong network are key to securing desirable placements in leading Indian firms and MNCs.
Undertake a Comprehensive Project & Research- (Semester 6)
Execute the final semester project with utmost dedication, choosing a topic relevant to Finance & Taxation. Focus on primary research, robust data analysis, and professional report writing. This project demonstrates your ability to apply theoretical knowledge to real-world scenarios.
Tools & Resources
Research methodologies books, statistical software (e.g., SPSS, R for basic analysis), academic databases
Career Connection
A well-executed project is a significant resume builder, showcasing your research capabilities and analytical rigor, which is highly valued for both jobs and higher studies.
Program Structure and Curriculum
Eligibility:
- Plus Two or equivalent examination from any recognized board/university with Commerce subject or Science with Mathematics as a compulsory subject. Students must have a minimum of 45% marks in aggregate (40% for SC/ST/OBC).
Duration: 6 semesters / 3 years
Credits: 120 Credits
Assessment: Internal: 20%, External: 80%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ENG1CCA01 | Common Course English I: From Language to Literature | Common | 4 | Fundamentals of Communication, Literary Devices, Short Stories, Poems and Appreciation, Grammar and Usage |
| MLY1CLG01 | Common Course Additional Language I: Malayala Sahithyam | Common | 4 | Malayalam Grammar, Poetry and Prose, Literary Movements, Creative Writing, Communication Skills |
| B.Com1CR01 | Core Course I: Financial Accounting I | Core | 4 | Introduction to Accounting, Accounting Concepts and Conventions, Journal and Ledger, Trial Balance and Rectification of Errors, Final Accounts of Sole Proprietorship |
| B.Com1CR02 | Core Course II: Business Regulatory Framework | Core | 4 | Indian Contract Act 1872, Sale of Goods Act 1930, Negotiable Instruments Act 1881, Consumer Protection Act 2019, Indian Partnership Act 1932 |
| B.Com1CP01 | Complementary Course I: Principles of Economics | Complementary | 4 | Introduction to Economics, Consumer Behaviour, Theory of Production and Cost, Market Structures, National Income |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ENG2CCA02 | Common Course English II: Texts and Contexts | Common | 4 | Literary Criticism, Essays and Speeches, Rhetoric and Argumentation, Intercultural Communication, Research and Presentation Skills |
| MLY2CLG02 | Common Course Additional Language II: Rachanayum Vyakaranavum | Common | 4 | Advanced Malayalam Grammar, Essay Writing, Translation Techniques, History of Malayalam Literature, Contemporary Literary Trends |
| B.Com2CR03 | Core Course III: Financial Accounting II | Core | 4 | Departmental Accounts, Branch Accounts, Hire Purchase and Installment Systems, Royalty Accounts, Insolvency Accounts |
| B.Com2CR04 | Core Course IV: Business Statistics | Core | 4 | Introduction to Statistics, Measures of Central Tendency, Measures of Dispersion, Correlation and Regression, Index Numbers |
| B.Com2CP02 | Complementary Course II: Principles of Management | Complementary | 4 | Introduction to Management, Planning and Decision Making, Organizing and Staffing, Directing and Controlling, Motivation and Leadership |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ENG3CCA03 | Common Course English III: Literature and the Contemporary World | Common | 4 | Literary Theory, Post-Colonial Literature, Environmental Literature, Gender Studies, Media and Society |
| MLY3CLG03 | Common Course Additional Language III: Drishyakala Padanavum Kavyasasthravum | Common | 4 | Classical Malayalam Literature, Modern Poetry and Prose, Literary Criticism, Cultural Studies, Folk Arts of Kerala |
| B.Com3CR05 | Core Course V: Corporate Accounting I | Core | 4 | Share Capital, Debentures, Redemption of Preference Shares, Redemption of Debentures, Amalgamation and Reconstruction |
| B.Com3CR06 | Core Course VI: Marketing Management | Core | 4 | Introduction to Marketing, Product and Pricing Decisions, Promotion and Distribution Channels, Marketing Research, Digital Marketing |
| B.Com3CP03 | Complementary Course III: Quantitative Techniques for Business | Complementary | 4 | Matrix Algebra, Differential Calculus, Integral Calculus, Linear Programming, Network Analysis |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ENG4CCA04 | Common Course English IV: Language and Linguistics | Common | 4 | Phonetics and Phonology, Morphology and Syntax, Semantics and Pragmatics, Sociolinguistics, Psycholinguistics |
| MLY4CLG04 | Common Course Additional Language IV: Malayala Gadya Sahithyam | Common | 4 | Malayalam Short Story, Novel and Drama, Travelogues and Biographies, Film Studies, Journalism and Media |
| B.Com4CR07 | Core Course VII: Corporate Accounting II | Core | 4 | Accounting for Banking Companies, Accounting for Insurance Companies, Investment Accounting, Valuation of Goodwill and Shares, Financial Statements Analysis |
| B.Com4CR08 | Core Course VIII: Entrepreneurship Development | Core | 4 | Concept of Entrepreneurship, Role of MSMEs in India, Business Plan Preparation, Sources of Finance for Startups, Government Support to Entrepreneurs |
| B.Com4CP04 | Complementary Course IV: Business Research Methods | Complementary | 4 | Introduction to Business Research, Research Design, Data Collection Methods, Sampling Techniques, Data Analysis and Interpretation |
Semester 5
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| B.Com5CR09 | Core Course IX: Cost Accounting | Core | 4 | Introduction to Cost Accounting, Material Cost Control, Labor Costing, Overheads, Cost Sheet Preparation |
| B.Com5CR10 | Core Course X: Income Tax Law and Practice | Core | 4 | Basic Concepts of Income Tax, Residential Status and Tax Incidence, Heads of Income (Salary, House Property), Profits and Gains of Business or Profession, Capital Gains and Other Sources |
| B.Com5CR11 | Core Course XI: Financial Management | Core | 4 | Introduction to Financial Management, Capital Budgeting Decisions, Cost of Capital, Leverage Analysis, Working Capital Management |
| B.Com5CR12 | Core Course XII: Auditing and Corporate Governance | Core | 4 | Introduction to Auditing, Types of Audit, Audit Planning and Internal Control, Vouching and Verification, Corporate Governance Principles |
| B.Com5OP01 | Open Course: Capital Market Operations | Open | 3 | Introduction to Capital Market, Primary Market Operations, Secondary Market Operations, Regulatory Framework (SEBI), Investment Avenues |
Semester 6
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| B.Com6CR13 | Core Course XIII: Management Accounting | Core | 4 | Introduction to Management Accounting, Financial Statement Analysis, Fund Flow Statement, Cash Flow Statement, Budgetary Control |
| B.Com6CR14 | Core Course XIV: Goods and Services Tax (GST) | Core | 4 | Introduction to GST, GST Council and Administration, Registration under GST, Levy and Collection of GST, Input Tax Credit |
| B.Com6CR15 | Core Course XV: Computerised Accounting with GST | Core | 4 | Introduction to Tally ERP.9, Company Creation and Ledgers, Inventory Management in Tally, Accounting Vouchers with GST, Payroll and Reports in Tally |
| B.Com6CR16 | Core Course XVI: Project Report and Viva Voce | Core | 4 | Project Identification and Formulation, Data Collection and Analysis, Report Writing and Presentation, Viva Voce Examination, Research Ethics |
| B.Com6EL01.10 | Elective Course I: Income Tax - Assessment of Various Entities | Elective | 3 | Assessment of Individuals, Assessment of Hindu Undivided Family (HUF), Assessment of Partnership Firms, Assessment of Companies, Assessment of Co-operative Societies |
