Accounting

Paper Code: 
BCP-211
Credits: 
6
Contact Hours: 
90.00
Max. Marks: 
100.00
18.00
Unit I: 

Formulation of Accounting Standards: Process of formulation of Accounting Standards including Ind ASs (IFRS converged standards) and IFRSs; convergence v/s adoption; objective and concepts of carve outs.

 

Preparation and Presentation of Financial Statements: Framework for Preparation and Presentation of Financial Statements (as per AS).

 

Applications of Accounting Standards:

AS 1 : Disclosure of Accounting Policies

AS 2 : Valuation of Inventories

AS 3 : Cash Flow Statements

AS 4 : Contingencies and Events occurring after the Balance Sheet Date

AS 5 : Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies

AS 10: Property, Plant and Equipment

AS 11: The Effects of Changes in Foreign Exchange Rates

AS 12: Accounting for Government Grants

AS 13: Accounting for Investments

AS 16: Borrowing Costs

AS 17: Segment Reporting

AS 22: Accounting for Taxes on Income

 

18.00
Unit II: 

Company Accounts

  1. Redemption of preference shares;
  2. Redemption of debentures;
  3. Accounting for bonus issue and right issue.
  4. Accounting for tax: Concept of deferred tax asset and deferred tax liability in line with AS 22 “Accounting for Taxes”.
  5. Managerial Remuneration
  6. Preparation of financial statements – Statement of Profit and Loss, Balance Sheet and Cash Flow Statement,
  7. Profit (Loss) prior to incorporation;

 

15.00
Unit III: 

Accounting for Special Transactions:

  1. Investment
  2. Insurance claims for loss of stock and loss of profit
  3. Hire - purchase and Installment Sale Transactions

 

18.00
Unit IV: 

Special Type of Accounting

  1. Departmental Accounting
  2. Accounting for Branches including foreign branches
  3. Accounts from Incomplete Records

 

21.00
Unit V: 

Partnership firms: Dissolution of partnership firms including piecemeal distribution of assets; Amalgamation of partnership firms; Conversion of partnership firm into a company and Sale to a company; Issues related to accounting in Limited Liability Partnership.

 

References: 

Reference Books

 

  1. Modern Accountancy-A Mukharjee,  MHanif.  (Tata Mc- Graw-Hill)
  2. Advanced Accountancy-B.M Agarwal (Suchitra Publication)
  3. Study Material Published by Institute of Chartered Accountants of India
  4. Accountancy- PC Tulsian (Tata Mc- Graw-Hill)
  5. An Introduction to Accountancy- S.N Maheshwari(Vikash Publishers)
  6. Fundamental of Accounting-Dr T P Ghosh,(Sultan Chand& Sons)
  7. Financial Accounting-R.L Gupta, V.K Gupta( Sultan Chand& Sons)
  8. Scanner-Arun Kumar(Suchitra Prakashan (P) Ltd)
  9. Fundamentals of Financial Accounting- Dr Ashok Sehgal, Dr Deepak Sehgal (TaxMann’s)
  10. Scanner-Arun Kumar(Suchitra Prakashan (P) Ltd)

Note- The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless

Academic Year: 
2018-2019
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