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Financial Accounting SYBAF Semester III

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Financial Accounting

Manan Prakashan

SYBAF

Semester III

1. Partnership Final Accounts based on Adjustment of Admission or Retirement / Death of a Partner during the Year
Simple final accounts questions to demonstrate the effect on final Accounts when a partner is admitted during the year or when partner Retires / dies during the year
Allocation of gross profit prior to and after admission / retirement / death when stock on the date of admission / retirement is not given and apportionment of other expenses based on time / Sales /other given basis
Ascertainment of gross profit prior to and after admission / retirement / death when stock on the date of admission / retirement is given and apportionment of other expenses based on time / Sales / other given basis
Excluding Questions where admission / retirement / death takes place in the same year

2. Piecemeal Distribution of Cash
Excess Capital Method only
Asset taken over by a Partner
Treatment of past profits or past losses in the Balance sheet
Contingent liabilities / Realization expenses / amount kept aside for expenses and adjustment of actual
Treatment of secured liabilities
Treatment of Preferential Liabilities like Govt. dues / labour dues etc.
Excluding: Insolvency of Partner and Maximum Loss Method

3. Amalgamation of Firms
Realization method only
Calculation of purchase consideration
Journal/ledger accounts of old firms
Preparing Balance sheet of new firm
Adjustment of goodwill in the new firm
Realignment of capitals in the new firm by current accounts / cash or a combination thereof
Excluding : Common transactions between the amalgamating firms

4. Conversion / Sale of a Partnership Firm into a Ltd. Company
Realisation method only
Calculation of New Purchase consideration, Journal / Ledger Accounts of old firms.
Preparing Balance Sheet of new company

5. Accounting of Transactions of Foreign Currency
In relation to purchase and sale of goods, services and assets and loan and credit transactions.
Computation and treatment of exchange rate differences
Note: Relevant Law/Statute/Rules in force and relevant Accounting Standards in force on 1st April immediately preceding commencement of Academic Year is applicable for ensuring examination after relevant year.

Additional Information

BOARDMaharashtra State Board
ISBN-13978-93-88626-48-4
AUTHORAinapure & Ainapure
PUBLISHERManan Prakashan
EDAll
PAGES512
SUBJECTFinancial Accounting SYBAF Semester III
LANGUAGEEnglish
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