ADVANCED ACCOUNTANCY I

Course Objectives

At the end of this course the learner is expected to

  • Understand the basic accounting concepts and their application in business.
  • Apply the dual-entry recording framework to a series of transactions that results in a balance sheet.
  • Gain knowledge on the preparation of financial statements Develop the skills needed to analyze financial statements effectively
  • Students will be exposed to take decisions on depreciation method to be adopted

UNIT - I

Branch Accounts - Dependent branches - Independent branch (foreign branches included).

UNIT - II

Consignment and Joint Venture – Meaning – Terms in Consignment and joint venture

UNIT - III

Departmental Accounts – Inter departmental transfer at cost price and invoice price – Hire purchase and Installment purchase.

UNIT - IV

Admission of a Partner - Retirement of a Partner - Death of a partner – Admission cum retirement.(Advanced Problems).

UNIT - V

Dissolution and Insolvency of a Partnership - Piecemeal distribution – Maximum Loss – Garner Vs Murray Case.

REFERENCES

  • Maheswari S.N., Vikas Publishing House, New Delhi,2014 “Advanced Accountancy-II”.
  • Gupta R.L. and Radhaswamy M., New Delhi, Sultan Chand and Co, 2010 “Advanced Accounts”.
  • Jain & NarangKalyani Publishers, New Delhi “Financial Accounting”.
  • Reddy & Murthy, (2008), Margham Publication, Chennai, Financial Accounting.

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