Description

Financial Accounting

 

TYBAF Semester VI

 

Syllabus

 

1. Final Account For Electricity Company
Final Accounts as per Double Account System
– Final Accounts as per Electricity Rules
– Receipt & Expenditure on Capital Account
– General Balance Sheet
– Contingency Reserve
Disposal of Surplus (As per Electricity Rules): Norms regarding Disposal of Surplus Replacement of Assets
Simple Practical Problems

2. Final Accounts For Co-Operative Society
(Co-Operative Housing Society & Consumer Co-Operative Society)
Provisions of Maharashtra State Co-Operative Societies Act and Rules. Accounting provisions including appropriation to various funds
Format of Final Accounts – Form N
Simple Practical Problems on preparation of Final Accounts of a Co-Operative Housing Society & Consumer Co-Operative Society

3. Investment Accounting (w.r.t. Accounting Standard – 13)
For Shares (Variable Income Bearing Securities)
For Debentures / Preference Shares (Fixed Income Bearing Securities)
Accounting for Transactions of Purchase and Sale of Investments with Ex and Cum Interest Prices and Finding Cost of Investment Sold and Carrying Cost as per Weighted Average Method (Excluding Brokerage)
Columnar Format for Investment Account

4. Mutual Funds
Introduction, Historical Background SEBI Guidelines, Organisation, NAV Scheme, Types of Mutual Fund Schemes, FOF Scheme, Load or Non-Load Scheme, Investment Valuation Norms, Pricing of Units, Contents of Balance Sheet and Revenue Account, Evaluation of Mutual Funds, Disposal of Investments, Recognition of Income, Accounting Policies and Entries

5. Introduction to IFRS and Ind – AS
Accounting Standards : Role/Objectives of Accounting Standards, Development of Accounting Standards in India – Requirements of International Accounting Standards – International Organisations engaged in Accounting Harmonisation – IASB – FASB – Role of IASB in developing IFRS, Applicability, Interpretation, Scope and Compliance of Accounting Standards
Indian Accounting Standards (Ind AS) :
Introduction, Road Map, First time adaptation of Indian Accounting Standard, Conceptual Framework
Comparison of Ind AS, IFRS and AS
IFRS : Introduction, Scope, Purpose and Objectives of Financial Statement – its Frame work – its assumption, Characteristics, Element, Recognition and Measurement, first time of adoption of IFRS
Convergence of Ind-AS and IFRS