SSF or special studies in finance is one the elective offered in Semester 5 of the BMS course along with Special studies in marketing and E-commerce. There is a clear bifurcation of BMSites: the ones comfortable with theory go for SSM and the ones who are comfortable with practical subjects go for SSF; E-commerce is the subject which colleges rarely offer and even if they do, the number of students who take it up are very limited.
Since you are reading this post, I am sure you happen to be of the type who loves practical subjects. The calculator is your favourite weapon and the pencil and ruler are like your right hand men, the length of the answers is inversely proportional to the quotient of your happiness and same applies to the thickness of your textbook, the thinner the book the happier you feel!
The SSF confusion and how I got it sorted!
So like every study guide I wanted to start this post with an introduction about the subject but strangely, I just couldn’t find one! It was very difficult to understand what exactly do I say and so I dialled the finance helpline, meaning all my friends who happen to be Finance guru’s and asked them what exact definition can I give here and the reply I got from everyone was that you can’t have one definition as SSF is a combination of a lot many things.
But even though there are many things there has to be one particular way to explain all of it collectively, SSF is a lot like the basics of accountancy that we have learnt in the past two years of BMS, only on a more elaborate level.
It teaches you quite a lot of things and as BMS Topper Nimesh Shah correctly said, “All of this is important you can’t possibly ignore things like hire purchase, lease accounting, underwriting, mutual funds, public issues and term loans can you?” and that question answers why you should study this subject. It teaches you so many important concepts, theories and explores a lot many aspects of accountancy that missing this subject would be a big loss for someone who wishes to make this into a future career opportunity.
Is it a Difficult subject?
No, SSF is comparatively easier than FM and can be learnt and understood quickly. The advantage is that the concepts are not tricky and sums even though lengthier than the past are easy to solve once understood.
Do I need to join a Coaching class for this subject?
No. Smita Rao, BMS alumni says,” SSF can be studied easily using self-study provided your college professor is good and you attend lectures regularly. Also, the choice of textbook matters as much, if you have a textbook that is complicated then get it exchanged immediately.”
Theory lovers or practical lovers who is this subject for?
If you thought this was going to be all sums, then you are mistaken, because SSF has quite a lot of theory too! “SSF has majority of theory, the sums are in bits and parts around that theory” says Nimesh.
What is the syllabus for this subject?
The syllabus for SSF has been divided into 4 modules as follows:
module-1 – economic value addition
module 2-Appraisal of term loan
module 3- Accounting for effect o changes in foreign exchange rate- AS.11
module 4- Financial services
You get the detailed syllabus HERE – SSF Syllabus!
Where can I get Reference notes for this subject?
What sort of a Career can I make after this subject?
A career as an accountant is a possible option if you wish to take up something directly post BMS, or you can, so your MBA in finance or a C.A, ICWA, CFA, CFP and go ahead with a finance based career.
A few guidelines by Nimesh Shah on the important aspects of SSF
- As I said earlier SSF is majorly theory with bits and parts of it having sums intervened.
- AS 22 and AS 11 are the important chapters for sums that you can’t miss out on.
- The theory comprises of topics like hire purchase, lease accounting, underwriting, mutual funds, public issues, trem loans, etc.
- Term loan has a practical aspect to it too! It basically delas with the entire details of loan repayment. The important part is the loan amortization schedule.
- Project appraisal teaches you about the financial feasibility, technical feasibility, etc of the project.
- Hire purchase is when you buy something and pay in instalments . Deals with how to make journal entires for hire purchase and hire purchase amortization schedule.
- Theory wise: Share markets, capital markets, SEBI, role of SEBI, underwriting is important.
- AS 11 deals with accounting for effective changes in foreign exchange.
- For AS 11 practise is a must
- Segmental reporting is very easy you can devote 1 day to it practical
- AS 22 accounting for taxes on income, difference between domestic and foreign markets which leads to difference.
- MAT: minimum alternative tax which is the total tax expenses.
The SSF Experience:
Juhi Jagtani, BMS alumni adds; “I am a SSF student of the batch 2013-2014. SSF was one of the easiest subjects amongst the whole semester. It has more of a practical concept as compared to theory. So people who don’t like theory should surely go for it. Thats the subject for you, trust me what rumours say and what you experience is really different. I was scared what would happen but when I saw my scores I was shocked as it was more than 85.If you are attentive in your college lectures ,you definitely don’t need classes. This subject is full of finance and its diff parts .Trust me and chose it, you will never regret.
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