COURSE OUTCOMES (COs):
Course outcomes
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Learning and teaching strategies |
Assessment Strategies |
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On completion of this course, the students will be able to: CO11: Analyze the various aspects of royalty accounts and apply them in practice CO12: Compare and contrast departmental and branch accounts; different methods of allocating departmental expenses. CO13: Evaluate Investment and consignment by preparing their accounts CO14: Determine performance of joint venture by applying various methods. CO15: Estimate claims under fire insurance policies, loss of stock and loss of profit |
Interactive Lectures, Discussion, Tutorials, Practical Cases, Power point presentation and Solving Questions.
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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
• Meaning and advantages 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
• Accounting for consignment in the books of consignor and consignee
• Normal Loss and Abnormal Loss of good sent on consignment,
• Accounting for Goods sent on consignment at mark-up price
• Valuation of Closing Stock
• Del Creder Commission and Bad Debts
• Features of Joint Venture
• Methods of Keeping Accounts
Accounting for Investment
• Fixed Income bearing Securities, Variable Income Bearing Securities
• Accounting Arrangement of fixed income bearing securities
• Purchase / Sale of Investment on the date of payment of interest
• Purchase/ sale of Investment before the date of payment of interest
• Claims under fire insurance policies
• Claim for Loss of Stock
• Claim for Loss of Profit
• Gupta, R.L. & Gupta, V.K. Financial Accounting. Sultan Chand & Sons
• Mukharjee, A., Hanif, M. Modern Accountancy. Tata Mc- Graw-Hill
• Sehgal, A. & Sehgal, D. Fundamentals of Financial Accounting . TaxMann’s
• Jain. Khandelwal & Pareek. Financial Accounting. Ajmera Book Company
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