To develop a conceptual understanding of financial accounting system and their application in business
Meaning of Minimum Rent, Short Working, Excess Working, Recoupment of Short Workings, Accounting in the books of Lessee and Lessor, Sub Lease
Accounting for Lease: Financial and Capital Lease.
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
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
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
Installment Payment System: Difference between Hire Purchase System and Installment Payment System, Accounting Arrangement, In the Books of Buyer and Seller
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