Advanced Accounting

Paper Code: 
24AAF413
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

Course Objectives:

This course will enable the students to acquire the conceptual knowledge of corporate accounting and to understand the various techniques of accounting and preparing financial statements for different forms of companies.

Course Outcomes (COs):

Course

Course Outcomes

Learning and teaching strategies

Assessment Strategies

Course Code

Course Title

 

 

 

 

 

 

 

 

 

24AAF413

 

 

 

 

 

 

 

 

 

Advanced Accounting

(Theory)

CO133: : Examine the conditions for internal reconstruction and perform accounting for internal reconstruction under alteration and reduction of share capital

CO134: Determine the nature of amalgamation and apply the appropriate methods for accounting for amalgamation

CO135: Examine the items under various lists for preparation of statement of affairs for companies going under liquidation and prepare liquidator’s statement.

CO136: Manage and prepare the accounts of insurance companies.

 CO137: Manage and prepare Financial Statements of Banking Companies.

CO138: Contribute effectively in course-specific interaction.

Approach for teaching:

Interactive Lectures, Discussion, Tutorials

 

Learning activities for the students:

Assignment, presentations, group discussions

 

 

Class test, Semester end examinations, Quiz, Solving problems, Assignments,  Individual and group projects

 

9.00
Unit I: 
Internal and External Reconstruction:

• Alteration of Share Capital, Conversion of Fully Paid Shares into Stock and Stock into Shares.
• Objectives of Capital Reduction, Procedure, Accounting Arrangement

9.00
Unit II: 
Amalgamation:

• Forms of Amalgamation, Motive for Amalgamation, Calculation of Purchase Consideration, Methods of Accounting for Amalgamation: Pooling of Interests Method, Purchase Method
• Distinction between Pooling of Interests Method and Purchase Method.
• Accounting for Amalgamation (Excluding Inter Company Investments)

9.00
Unit III: 
Liquidation:

• Meaning of Liquidation, Winding up by Court, Voluntary Winding Up, Preferential Payments,
• Preparation of Statement of Affairs, Deficiency/Surplus Account
• Liquidator’s Final Statement of Account, Receiver for Debenture Holder
• B List of Contributories

9.00
Unit IV: 
Accounts of Insurance Companies:

• Meaning of Insurance, Financial Statement of Insurance Companies, Accounts of Life Insurance Business.
• Accounts of General Insurance Business

9.00
Unit V: 
Banking Company Accounts:

• Meaning of Banking, Types of Banks.
• Requirement as to strong financial management
• Preparation and Presentation of Financial Statements of Banks
• Collection of Bills of Exchanges of Customers, Discounting of Bills of Exchange of Customer, Rebate on Bills of Exchange Discounted,
• Classification of Assets

Essential Readings: 

1. Advance Accountancy- Jain, Khandelwal, Pareek (Ajmera Book Company)
2. Modern Accountancy- A. Mukharjee & M. Hanif (Tata McGraw Hill)
3. Advanced Accountancy-S.N Maheshwari (Vikas Publishing House Pvt Ltd)

References: 

1. Corporate Accounting -S.N. Maheshwari and S.K. Maheshwari (Vikash Publishing House Pvt. Ltd)
2. Advanced Accounting-R.L Gupta, M Radhaswamy (S. Chand & Sons New Delhi)
3. Accounting Theory-L.S Porwal (Tata,McGraw Hill)
4. Advanced Accounts-Shukla, Grewal, Gupta (S.Chand)

E- Content:
1. http://vipss.yolasite.com/resources/PCC_BOOKS/Advanced%20Accounting%20Vo...
2. Financial Accounting for Management, 6e
Elibrary.in.pearson.com
3. Financial Accounting for Managers, 3e
Elibrary.in.pearson.com
Reference Journals:
1. The Indian Journal of Commerce
2. IUP Journal of Accounting Research
3. FIIB Business Review
4. IUP Journal of Accounting Research and Audit Practices

Academic Year: 
2024-2025
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