Advanced Accounting I

Paper Code: 
25BCP211
Credits: 
06
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

This course will enable the students 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 various business entities

Course Outcomes: 

Course

Learning outcome

(at course level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course

title

25BCP211

Advanced Accounting I

(Theory)

 

CO 37 Analyze the regulatory environment in which the financial statements are prepared and presented. Compare and contrast Ind ASs (IFRS converged standards) and IFRSs.

CO 38 Examine the advanced issues in valuation of inventories, disclosure of accounting policies, cash flow statements, property plant and equipment, Foreign Exchange Rates and Government Grants and Investments as per accounting standards.

CO 39 Construct company’s financial statements as per Schedule III to the Companies Act, 2013 and examine the advanced issues in borrowing costs and leases.

CO 40 Analyze the accounting requirements for re construction of companies and their amalgamations.

CO 41 Preparation of branch accounts including foreign branches.

CO 42 Contribute effectively in course specific interaction.

Approach in teaching:

Interactive Lectures, Discussions, Tutorials, Problem solving sessions, Presentations

 

Learning activities for the students:
Self-learning assignments, Case Study Analysis, Presentations, Group Discussions

 

Continuous Assessment Test, Semester End Examinations, Quiz, Solving Numerical Problems, Assignments, Class Presentations, Individual and group projects.

 

18.00
Unit I: 
Indian Accounting Standards and IFRS
  • Process of formulation of Accounting Standards including Indian Accounting Standards (IFRS converged standards) and IFRSs; Convergence vs. Adoption; Objective and Concepts of carve outs.
  • Framework for Preparation and Presentation of Financial Statements (as per Accounting Standards)
  • Applicability of Accounting Standards to various entities
  • AS 1 Disclosure of Accounting Policies
  • AS 2 Valuation of Inventories

 

18.00
Unit II: 
Accounting Standards
  • AS 3 Cash Flow Statements
  • 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

 

18.00
Unit III: 
Accounting Standards
  • AS 16 Borrowing Costs Leases
  • Company Accounts: Schedule III to the Companies Act, 2013 (Division I), Preparation of financial statements – Statement of Profit and Loss, Balance Sheet and Cash Flow Statement, Buy back of securities

 

18.00
Unit IV: 
Accounting Standards
  • Accounting for reconstruction of companies
  • AS 14 Accounting for Amalgamations (excluding inter-company holdings)

 

18.00
Unit V: 
Accounting Standards

Accounting for Branches including foreign branches

Essential Readings: 
  • Study Material Published by Institute of Chartered Accountants of India

 

SUGGESTED READINGS:

  • Arun Kumar .Scanner Suchitra Prakashan (P) Ltd
  • Tulsian, P. C. Accountancy. Tata Mc Graw Hill.
  • Mukharjee, A., Hanif, M. Modern Accountancy. Tata Mc- Graw-Hill

 

References: 

E-RESOURCES:

 

JOURNALS:

  • The Chartered Accountant Journal /
  • ICAI Student Journal

 

Academic Year: 
2025-2026
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