Advanced Accounting

Paper Code: 
BCP-311
Credits: 
6
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

Course Objectives:

  •  To acquire the ability to apply specific Accounting Standards and legislations to different transactions and     events and in preparation and presentation of financial statements of business entities;
  •  To understand and apply financial reporting and regulatory requirements of Banking Companies and NBFCs.

Course Outcomes (COs):

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

BCP-311

Advanced Accounting
  • CO 83 To develop an understanding of the regulatory environment in which the companies are formed and operate.
  • CO 84 To develop a solid foundation in accounting and reporting requirements and relevant Accounting Standards.
  • CO 85 To enable comprehensive understanding of the basic issues in accounting for assets, liabilities and owner’s equity.
  • CO 86 To develop an ability to account for a range of financial accounting issues.
  • CO 87 An understanding of the accounting requirements for a corporate group and familiarity with the theory underlying the methods used to account for inter-company investments.
  • CO 88 To prepare consolidated accounts for a corporate group.
  • CO 89 An understanding of the principles of accounting for investments in associates.
  • CO 90 The ability to analyze complex issues, to formulate well-reasoned and coherent arguments and to reach well considered conclusions.

Approach in teaching:

Interactive Lectures, Discussion, Tutorials, assignments.

 

Learning activities for the students:

Self-learning assignments, Effective questions,  Giving tasks, Solving numerical problems

 

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments,  Individual projects

 

18.00
Unit I: 
-
  • Application of Accounting Standards:
  • 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 7: Construction Contracts
  • AS 9: Revenue Recognition
  • AS 14: Accounting for Amalgamations
  • AS 17: Segment Reporting
  • AS 18: Related Party Disclosures
  • AS 19: Leases
  • AS 20: Earnings Per Share
  • AS 22: Accounting for Taxes on Income
  • AS 24: Discontinuing Operations
  • AS 26: Intangible Assets
  • AS 29: Provisions, Contingent Liabilities and Contingent Assets.

 

18.00
Unit II: 
-
  • Special Aspects of Company Accounts Accounting for employee stock option plan; Buy back of securities; Equity shares with differential rights.
 
  • Banking Companies and Non-Banking Financial Companies and regulatory requirements thereof.

 

18.00
Unit III: 
-
  • Reorganization and liquidation of Companies Accounting for amalgamation (excluding inter-company holding) and reconstruction; Accounting involved in liquidation of companies.

 

18.00
Unit IV: 
-
  • Consolidated Financial Statements Concept of consolidation and simple problems on Consolidated Financial Statements with single subsidiary (excluding problems involving acquisition of Interest in Subsidiary at Different Dates; Different Reporting Dates of Holding and Subsidiary; Disposal of a Subsidiary and Foreign Subsidiaries).

 

18.00
Unit V: 
-

• 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: 
  • Modern Accountancy-AMukharjee, MHanif.  (Tata Mc- Graw-Hill)
  • Advanced Accountancy-B.M Agarwal (Suchitra Publication)
  • Study Material Published by Institute of Chartered Accountants of India
  • Accountancy- PC Tulsian (Tata Mc- Graw-Hill)
  • An Introduction to Accountancy- S.N Maheshwari(Vikash Publishers)
  • Fundamental of Accounting-Dr T P Ghosh,(Sultan Chand& Sons)
  • Financial Accounting-R.L Gupta, V.K Gupta( Sultan Chand& Sons)
  • Scanner-Arun Kumar(Suchitra Prakashan (P) Ltd)
  • Fundamentals of Financial Accounting- Dr Ashok Sehgal, Dr Deepak Sehgal (Taxman’s)
  • 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 Notes: 1. If either a new Accounting Standards (ASs), Announcements and Limited Revisions to ASs are issued or the earlier one are withdrawn or new ASs, Announcements and Limited Revisions to AS are issued in place of existing ASs, Announcements and Limited Revisions to AS, the syllabus will accordingly include / exclude such new developments in the place of the existing ones with effect from the date to be notified. 2. The specific inclusions/exclusions, in any topic covered in the syllabus, will be affected every year by way of Study Guidelines. The list of applicable Guidance Notes in Accounting will also form part of the Study Guidelines.

Academic Year: 
2020-2021
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