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Financial Accounting TYBCOM Semester V

Financial Accounting TYBCOM Semester V


Financial Accounting


Semester V


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)


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 including 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 the 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 ?




Additional Information

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ISBN-13 978-93-89293-84-5
AUTHOR Ainapure & Ainapure
YEAR 2020
ED Third
SUBJECT Financial Accounting TYBCOM Semester V

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