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Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Upon successful completion, students will have the knowledge and skills to: CO 39:Analyze the regulatory environment in which the financial statements are prepared and presented. Compare and contrast Ind ASs (IFRS converged standards) and IFRSs CO 40:Examine the advanced issues in accounting for inventories, cash flow statements, property plant and equipment. CO 41:Examine the advanced issues in accounting for assets, Foreign Exchange Rates and Government Grants and Investments, Borrowing costs CO 42:Analyze the accounting requirements for a corporate group and construction of company accounts. CO 43:Preparation of company accounts for recording issue of shares and prior period adjustments CO 44:Prepare accounts for special transactions, investment, Insurance, Hire- purchase and Installment sale transactions and from incomplete records. |
Interactive Lectures, Discussion, Tutorials, assignments. Self-learning assignments, Effective questions, giving tasks, Solving numerical problems
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Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Individual projects |
• Process of formulation of Accounting Standards including Ind ASs (IFRS converged standards) and IFRSs; convergence v/s adoption; Course Objectives: and concepts of carve outs.
• Framework for Preparation and Presentation of Financial Statements (as per AS).
• Applications of Accounting Standards:
• AS 1: Disclosure of Accounting Policies
• AS 2: Valuation of Inventories
• AS 3: Cash Flow Statements
• AS 10: Property, Plant and Equipment
• Applications of Accounting Standards:
• AS 11: The Effects of Changes in Foreign Exchange Rates
• AS 12: Accounting for Government Grants
• AS 13: Accounting for Investments
• AS 16: Borrowing Costs
• Company Accounts: Preparation of financial statements – Statement of Profit and Loss, Balance Sheet and Cash Flow Statement;
• Company Accounts: Managerial Remuneration; Profit (Loss) prior to incorporation; Accounting for bonus issue and right issue; Redemption of preference shares; Redemption of debentures.
• Accounting for Special Transactions: Investment; Insurance claims for loss of stock and loss of profit; Hire- purchase and Instalment sale transactions.
• Special Type of Accounting: Departmental Accounting; Accounting for Branches including foreign branches; Accounts from Incomplete Records
Study Material Published by Institute of Chartered Accountants of India
• AMukharjee,MHanifModern Accountancy ,Tata Mc- Graw-Hill
• Tulsian P.C.Accountancy, Tata Mc- Graw-Hill
• Arun Kumar.Scanner, Suchitra Prakashan (P) Ltd
Links:
[1] https://accountingtaxation.iisuniv.ac.in/courses/subjects/accounting-17
[2] https://accountingtaxation.iisuniv.ac.in/academic-year/2022-2023