Course No. 301 ADVANCED FINANCIAL
ACCOUNTING (AFAC IX)
Marks: 80 Hours: 40
Objective: The basic aim of this paper
is to acquaint the students with advanced topics in accounting.
Course Contents:
Unit I: Accounts of Banking Companies :Definition
and meaning of banking terms, books to be maintained; classification of
Advances, preparation of profit & loss A/C and Balance sheet. 20 : 10 hrs
Unit II: Accounts of Life Insurance
Companies :Definition and elements of Insurance contract, meaning of various
insurance terms, types of insurance, Books, maintained under life Insurance
Business, Ascertainment of profit in life Insurance Business, Preparation of
Revenue Account, Balance sheet and valuation Balance sheet of life Insurance
company, 20 : 10 hrs
Unit III: Accounts of General
Insurance Companies : Preparation of Revenue Account and Balance Sheet of
General Insurance companies. 20
: 10 hrs
Unit IV: Investment Account : Meaning, meaning of cum-dividend and
ex-dividend transactions, cum-interest and ex-interest transactions, brokerage,
Accounting for investment. 20 : 10 hrs
Text and Reference Books :
1.
Tulsiram: Financial Accounting. Pearson Education, New Delhi.
2.
Rajaseharam: Financial Accounting. Pearson Education, New Delhi.
3.
Mukherji & Hanif: Financial Accounting, Tata Mc. Graw Hill, New Delhi.
4.
Paul: Advanced Financial Accounting, New Central Book Agency, Hyderabad.
5.
Sukla, Grewal and Gupta: Advanced Accounts, S.Chand, New Delhi.
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