Financial Accounting TYBCOM Semester V Manan Prakashan

Financial Accounting TYBCOM Manan Prakashan
Semester VFinancial Accounting TYBCOM Semester V Manan Prakashan

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

Adjustment for –

1. Closing Stock

2. Depreciation

3. Outstanding Expenses and Income

4. Prepaid Expenses and Pre-received Income

5. Proposed Dividend and Unclaimed Dividend

6. Provision for Tax and Advance Tax

7. Bill of Exchange (Endorsement, Honour, Dishonour)

8. Capital Expenditure included in Revenue Expenditure and vice versa e.g. – Purchase of Furniture included in Purchases

9. Unrecorded Sales and Purchases

10. Good Sold on Sale or Return Basis

11. Managerial Remuneration on Net Profit Before Tax

12. Transfer to Reserves

13. Bad Debt and Provision for Bad Debts

14. Calls in Arrears

15. Loss by Fire (Partly and fully insured goods)

16. Goods Distributed as Free Samples

17. Any other adjustments as per the prevailing accounting standard

2. Internal Reconstruction

Need For Reconstruction and Company Law Provisions

Distinction Between Internal and External Reconstructions

Methods include alteration of Share Capital, Variation of Shareholder Rights, Sub-division, Consolidation, Surrender and Re-issue / Cancellation, Reduction of Share Capital with relevant Legal Provisions and Accounting treatment for same.

3. Buy Back of Shares

Company Law / Legal Provisions (including Related Restrictions, Power, Transfer to Capital Redemption Reserve Account and Prohibitions)

Compliance of Conditions including Sources, Maximum Limits and Debt Equity Ratio. Cancellation of Shares Bought Back (excluding Buy Back of Minority Shareholding)

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 – What is the Link Between Law, Corporate Governance, Corporate Social Responsibility and Ethics?

What does the Accounting Profession mean by Ethical Behaviour?

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

Ethics in the Accounting Work Environment – A Research Report

Implications of Unethical Behaviour for Financial Reports

Company Codes of Ethics

The Increasing Role of Whistle-Blowing

Why should Student Learn Ethics?