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Bangalore University - B.Com 4th Sem - Corporate Accounting II


CORPORATE ACCOUNTING II
OBJECTIVES:
This course enables the students to develop awareness about Corporate Accounting in conformity with the Provision of Companies' Act and latest amendments thereto with adoption of Accounting Standards that are likely to be introduced from time to time.
Unit 1: AMALGAMATION OF COMPANIES 15 hours
Calculation of Purchase consideration - Take over basis- Net payment basis adopting Accounting Standards 14 and other relevant standards - treatment of fractional shares - liquidation expenses met by Purchasing Company - Passing of Journal Entries - of Ledger Accounts din the books of Vendor - Net Asset Method - Passing of Journal Entries and preparation of ledger accounts - In the books of Purchasing Company - passing incorporating entries - finding out Goodwill or Capital Reserve - treatment of inter- company debts - stock and investment - incorporation expenses - preparation of Balance Sheet.
Unit 2 : ABSORPTION 15 hours
Calculation of Purchase consideration of Purchase Consideration under Net Payment and Net Asset Methods adopting AS-14 and other relevant Accounting Standards as introduced from time to time - treatment of dissolution expenses met by Purchasing Company - Assets and liabilities not taken over - intrinsic value of shares - Fractional shares - Passing of Journal Entries - Preparation of Ledger Accounts in the books of Vendors - Incorporation entries - treatment of Security Premium - Preparation of Balance Sheet after absorption in the Purchasing Company.
Unit 3: EXTERNAL RECONSTRUCTION 10 hours
Calculation of Purchase Consideration under Net Payment and Net Asset methods - Passing Journal Entries - Ledger preparation in the books of Vendor and preparation of Balance Sheet after reconstruction incorporating all the concepts mentioned in absorption.
Unit 4: INTERNAL RECONSTRUCTION OR CAPITAL REDUCTION 10 hours
Meaning - Objective - Procedure - form of reduction - accounting arrangements - passing of Journal Entries - Preparation of Balance Sheet after Reconstruction.
Unit: 5 LIQUIDATION 10 hours
Voluntary Liquidation - Preparation of Liquidator's Statement of affairs - order of payment - calculation of commission on Assets Realized - payment to unsecured creditors - payment to unsecured creditors other than preferential creditors - calculation of pro rata- treatment of uncalled capital - liability of contributors.
SKILL DEVELOPMENT
- Calculation of Purchase consideration with imaginary figures
- List any 5 cases of amalgamation / absorption of Joint Stock Companies
- Preparation of Liquidator's final statement of accounts with
- Imaginary figures assuming yourself as a liquidator.
- Identify the legal provisions with respect to internal reconstruction.
- Arrange a Mock court to discuss the need for internal reconstruction.
- Prepare a draft scheme for absorption or merger.
- Discuss the result of scheme prepared in the open class.
- Prepare a SWOT analysis of a Company
BOOKS FOR REFERENCE:
1. S.N. Maheswari , Financial Accounting.
2. RL Gupta, Advanced Accountancy.
3. SP Iyengar, Advanced Accountancy.
4. Patil Korlahalli, Financial Accounting.
5. Jain and Narang, Corporate Accounting.
6. Tulsian, Advanced Accounting.
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