Description
Minor in Accounting & Finance Paper – II
(Accounting For Partnership Firms)
Vertical 2 : Minor
SYBAF Semester III
Syllabus (As Per NEP 2020) w.e.f. the Academic Year 2025-26
1. Amalgamation of Firms 15 Hours
♦ Types of Amalgamation – Merger and Purchase
♦ Accounting for Amalgamation – Pooling of Interest Method and Purchase Method
♦ Computation of Purchase Consideration
♦ Journal / Ledger Accounts of Old Firms
♦ Preparing Balance Sheet of New Firm
♦ Treatment of Goodwill Arising on Amalgamation
2. Conversion / Sale of a Partnership Firm Into a Ltd. Company 15 Hours
♦ Realisation Method only
♦ Calculation of New Purchase Consideration, Journal / Ledger Accounts of Old Firms
♦ Preparing Balance Sheet of New Company
3. Piecemeal Distribution of Cash 15 Hours
♦ Introduction to Piecemeal
♦ Methods of Piecemeal Distribution – Maximum Loss Method and Highest Relative Method (Theory)
♦ Asset taken over by a partner
♦ Treatment of past profits or past losses in the Balancesheet
♦ Contingent liabilities / Realisation expenses / amount kept aside for expenses and adjustment of actual
♦ Treatment of secured liabilities
♦ Treatment of preferential liabilities like Govt. dues / labour dues etc.
♦ Excluding Insolvency of partner and Maximum Loss Method
♦ Practical Sums should be based only on Highest Relative Method
4. Accounting for Limited Liability Partnership 15 Hours
♦ Meaning of Term Limited Liability Partnership, its Need, Scope and Advantages
♦ Relevant Definitions Under Section 2 of the LLP Act, 2008
♦ Incorporation of LLP, Partners and their Relations
♦ Financial Disclosures
♦ Conversion of Partnership Business into Limited Liability Partnership
♦ Differences with Other Forms of Organization
♦ Preparing Final Accounts of Limited Liability Partnership
Reviews
There are no reviews yet.