To develop a conceptual understanding of financial accounting system and their application in business.
COURSE OUTCOMES (COs):
Course |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
|
Paper Code |
Paper Title |
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ATG 216 |
Functional Accounting |
CO68:Analyze the aspects for solving practical problem in the field of Royalty business. CO69:Interpretation of Financial Statements in the case of Department Accounts. CO70:Analyze the concept of Branch Accounts and applying them in preparation of accounts of national or international branch. CO71:Develop an insight for applying fundamental principles of Investment Analysis and evaluation of firm’s financial performance and also under the concept of Insurance claim. CO72:Analyze the Concept of Hire Purchase System and its calculations. |
Approach in teaching: Explanations, Discussion, Project, Solving Questions
Learning activities for the students: Field activities, Presentation, Giving tasks |
Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects, Observation. |
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: Theoretical Concepts of 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
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