202: FINANCIAL
ACCOUNTING II
Total Marks: 80
UNIT-I:
Accounting Standards 20
Brief description
of Indian Accounting Standards (AS 1, AS 2, AS 3, AS 6, AS 9, AS10, AS 14, AS
21); Compliance requirement of accounting standards; Applicability of
accounting standards and their enforcement. International Accounting Standards
Committee Foundation (IASCF) and its objectives and responsibilities;
International Accounting Standards Board and its objectives and
responsibilities; International Financial Reporting Interpretations Committee (IFRIC);
Scope and process of issuing International Financial Reporting Standards
(IFRS).
UNIT-II: Branch
Accounting: 20
Meaning, need and
objectives of branch accounting classification of branches for accounting
purpose, System of Branch accounting; under Synthetic or Debtors system,
analytical system or stock and debtors system; final accounting system and
independent branch including foreign branch –accounting system.
UNIT –III:
Departmental Accounts and Valuation of Goodwill
Meaning,
objectives, system of preparation of departmental trading and profit and loss
accounts, allocation of common expenses, inter-departmental transfer. 10
Meaning and types
of goodwill; need for valuation; methods of valuation, relevant provisions in
Accounting Standards, Problems on valuation of Goodwill. 10
UNIT-IV:
Partnership Accounts: 20
Dissolution of
partnership firms, settlement of accounts on dissolution when one or more
partners are insolvent; Gradual realization of assets and Piecemeal Distribution;
Sale to a company - Determination of purchase consideration, accounting entries
for closing the books of account of a firm on sale or conversion into a
company.
Suggested Books
Financial
Accounting- Ashish Bhattacharya, Prentice Hall, New Delhi.
Financial
Accounting, S.N. Maheshwari, Vikash Publishing House, New Delhi.
Financial
Accounting, K.R. Das, K.M. Sinha, Lawyers Book Stall.
Advanced
Accounts, M.C. Shukla, T.S. Grewal, S.C. Gupta, S. Chand & Co.
Accountancy,
R.L. Gupta, M. Radhaswamy, Sultan Chand & Sons, New Delhi.
Financial
Accounting, B.B. Dam, H.C. Gautam,, and other, Capital Publishing.
S
Das,, Accounting for Government, Oxford University Press, New Delhi.
Bittiya
Hisab Vidya, Oriental Book Co.
Financial
Accounting, Pajaseharam, Pearson Education, New Delhi.
Financial
Accounting, M. Hanif, A. Mukherjee, Tata McGraw Hill, New Delhi.
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