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Financial Accounting TYBCOM Semester V

Financial Accounting TYBCOM Semester V

Description

Financial Accounting

TYBCOM

Semester V

Syllabus

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
PAGES 504
SUBJECT Financial Accounting TYBCOM Semester V
LANGUANGE English

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