Description

Financial Accounting

 

TYBMS Semester V

 

Syllabus

 

1. Preparation of Final Accounts of Companies
Relevant Provisions of Companies Act related to Preparation of Final Account (excluding Cash Flow Statement)
Preparation of Financial Statements as per Companies Act (excluding Cash Flow Statement)
AS 1 in relation to Final Accounts of Companies (Disclosure of Accounting Policies)

2. Underwriting of Shares and Debentures
Introduction, Underwriting, Underwriting Commission
Provision of Companies Act with respect to Payment of underwriting commission
Underwriters, Sub-Underwriters, Brokers and Manager to issues
Types of underwriting, Abatement Clause
Marked, Unmarked and Firm-underwriting applications
Liability of the underwriters in respect of underwriting contract
Practical Problems

3. Accounting of Transactions of Foreign Currency
In relation to purchase and sale of goods, services and assets, loan and credit transactions
Computation and treatment of exchange rate differences

4. 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

5. Ethical Behaviour and Implications For Accountants
Introduction, Meaning of Ethical Behaviour
Financial Reports – Link Between Law, Corporate Governance, Corporate Social Responsibility and Ethics
Need of Ethical Behaviour in Accounting Profession
Implications of Ethical Values for the Principles versus Rule based Approaches to Accounting Standards
The Principal based Approach and Ethics
The Accounting Standard Setting Process and Ethics
The IFAC Code of Ethics for Professional Accountants
Cotents of Research Report in Ethical Practices
Implications of Unethical Behaviour for Financial Reports
Company Codes of Ethics
The Increasing Role of Whistle – Blowing