Bangalore University - B.Com 5th Sem - Advanced Financial Accountancy (Accounting Group)
Dec 23, 2010
ADVANCED FINANCIAL ACCOUNTANCY (Elective Paper - I)
The objective of this course is to expose students to advanced accounting issues and practices. The main focus is on formatted accounting practices.
Unit 1: HOLDING COMPANY 18 hours
Introduction -types of control - legal definition-preparation of accounts - financial year of Holding company and its subsidiary - Rules for preparation of Consolidated Balance Sheet - investments in the subsidiary company - minority interest - cost of control - goodwill or Capital Reserve - Capital Profits - Revenue Profits -Inter company transactions - goods sold on credit - Debtors - Bills Receivable - Creditors - Bills Payable -contingent liabilities - inter company unrealized profits - Revaluation of Assets and Liabilities - dividends - Bonus issue.
Unit 2 : ACCOUNTING OF BANKING COMPANIES 20 hours
Meaning of Banking Company - Accounting treatment of Rebate on bills discounted - ascertainment of non-performing assets - Classifications of advances - Applications of provision of Banking Regulation Act of 1949 as amended from time to time - Preparation of Final Accounts as per the existing Banking Regulation Act.
Unit 3: FINAL ACCOUNTS OF LIFE INSURANCE 10 hours
Meaning - Insurance terms - Premium - Consideration for annuities granted - Policies becoming claims - reinsurance - surrender value and paid-up value - bonus - cash bonus - bonus in reduction of premium - reversionary bonus - valuation - Preparation of Revenue Account applicable for Life Insurance Business -Balance of a Life Insurance Company according to Form 'A" in the First Schedule.
Unit 4 : FINAL ACCOUNTS OF GENERAL INSURANCE 10 hours
Meaning - General Insurance Revenue Account for Fire and Marine - Treatment of reserve or provision to be carried forward - Preparation of Profit and Loss Account in Form B - Preparation of Profit and Loss Appropriation Account in Form C - Preparation of Balance Sheet.
-?Collecting the final accounts of a Public Limited Company and Commenting on the liquidity and profitability.
-?Apply important ratios to analyze the Company's Balance Sheet.
-?Listing any 10 Life Insurance Policies and collecting information relating to bonus rates and guaranteed additions.
-?Collection of Final Accounts of General Insurance Company. Calculating and commenting on the profitability and liquidity.
-?Collection of Final Accounts of Life Insurance Company. Calculating and commenting on the profitability and liquidity.
BOOKS FOR REFERENCE:
1. RL Gupta and Radhaswamy, Advanced Accountancy, Sultan Chand & Sons.
2. SP Jain and Narang, Advanced Accounts, Kalyani Publishers.
3. SP Iyengar, Advanced Accounting, Sultan Chand & Sons.
4. Chakraborthy, Advanced Accountancy, Navbharathi Publishing Company, Calcutta.
5. Mukerjee & Hanif, Modern Accountancy, TMH.
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