Accounting and Taxation
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Home > Advanced Financial Accounting

Advanced Financial Accounting [1]

Paper Code: 
ATG-421
Credits: 
6
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

The objective this course is to gain expert knowledge of principle and procedure of advance accounting and their application in different practical situations.

 

18.00
Unit I: 

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

18.00
Unit II: 

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

18.00
Unit III: 

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

18.00
Unit IV: 

International Financial Reporting Standards.: Introduction , Convergence of IAS with IFRS, Similarities and Difference of IFRS and IAS

18.00
Unit V: 

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

Essential Readings: 
  1. Advance Accountancy: Jain, Khandelwal, Pareek
  2. Advanced Accounts:R. L Gupta & R Radhaswamy( S.Chand& Sons)
  3. Corporate Accounting-S.N Maheshwari and S.K Maheshwari(Vikash Publishing House Pvt Ltd)

 

 

References: 
  1. Modern Accountancy- A Mukharjee& M Hanif (Tata Mc Graw Hill)
  2. Accounting Theory-L.S  Porwal(Tata,Mc Graw Hill)
  3. Advanced Accounts-Shukla, Grewal, Gupta(S.Chand)
  4. Advanced Accountancy-S.N Maheshwari(Vikas Publishing House Pvt Ltd)

 

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

 

Academic Year: 
2016-2017 [2]

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Source URL: https://accountingtaxation.iisuniv.ac.in/courses/subjects/advanced-financial-accounting-1

Links:
[1] https://accountingtaxation.iisuniv.ac.in/courses/subjects/advanced-financial-accounting-1
[2] https://accountingtaxation.iisuniv.ac.in/academic-year/2016-2017