The objective this course is to gain expert knowledge of principle and procedure of advance accounting and their application in different practical situations.
Departmental Accounts: Advantage of Departmental Accounting, Allocation of Departmental Expenses, Distinction between Departmental Accounts and Branch Accounts, Cost Based Transfer Price, Market Based Transfer Price, Ascertainment of Departmental Profit
Branch Accounts: -Difference between Branch and Departmental Accounts,
Dependent Branches: Method of Accounting for Branch Transactions, Debtors System, Stock and Debtors System, Final Account System
Independent Branches: Incorporation of Branch Assets and Liabilities, Abridged Incorporation, Foreign Branches
Accounting for Investment: Fixed Income Bearing Securities, Variable Income Bearing Securities, Accounting Arrangement of Fixed Income Bearing Security, Purchase/Sale of Investment on the Date of Payment of Interest
Purchase/Sale of Investment before the Date of Payment of Interest
Adjustment for Equity Shares Investment Account
Insurance Claims-Claims under fire insurance policies, Claim for Loss of Stock, Claim for Loss of Profit
Value Added Accounting-Concept and Technique, Economic Value Added, Market Value Added
Human Resources Accounting-Concept and Methods
Accounting for Price Level Changes: Meaning, Significance and Limitation, Various approaches and methods of accounting under changing price levels
International Financial Reporting Standards.: Introduction , Convergence of IAS with IFRS, Similarities and Difference of IFRS and IAS
Corporate Reporting and Information Disclosures: Concept of adequate disclosures, Methods of Disclosures, Indian Company Law and Disclosure Practice, Reporting for Investor and Employees. Social Responsibility Accounts.
Accounting Standards- Accounting Standards and Guidance Notes on Various Accounting Aspects issued by the ICAI and Advanced Problems thereon
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