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Bge CSC03

This document outlines the syllabus for the Advanced Financial Accounting course at the University of Madras for the 2020-2021 academic year. The objectives of the course are to enable students to understand how to prepare financial statements for different types of organizations and familiarize them with financial reporting standards. The course covers topics like branch accounts, departmental accounts, partnership accounts, and accounting standards for financial reporting. It includes 5 units and provides textbook references and websites for additional reading. The assessment will have a 20:80 ratio of theory to problems questions.

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77 views2 pages

Bge CSC03

This document outlines the syllabus for the Advanced Financial Accounting course at the University of Madras for the 2020-2021 academic year. The objectives of the course are to enable students to understand how to prepare financial statements for different types of organizations and familiarize them with financial reporting standards. The course covers topics like branch accounts, departmental accounts, partnership accounts, and accounting standards for financial reporting. It includes 5 units and provides textbook references and websites for additional reading. The assessment will have a 20:80 ratio of theory to problems questions.

Uploaded by

selvam
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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UNIVERSITY OF MADRAS

B.Com. (GENERAL) DEGREE COURSE


SYLLABUS WITH EFFECT FROM 2020-2021

BGE-CSC03
CORE-III: ADVANCED FINANCIAL ACCOUNTING
Common to BCom(A&F), BCom(CS), BCom(CA) & BCom(ISM)
Inst.Hrs : 6 YEAR: I
Credits : 4 SEMESTER: II

OBJECTIVES
To enable the students to understand the system of preparing financial statements for various
types of organisation
 To familiarize the students with knowledge about financial reporting standards

OUTCOME:
 The students will be able to understand the preparation of financial statements for
business units other than corporate undertaking and their utility.

Unit I: Branch Accounts


Dependent Branches - Stock and Debtors system – Distinction between Wholesale Profit and
Retail Profit – Independent Branches (Foreign Branches excluded)

Unit II: Departmental Accounts


Basis of Allocation of Expenses – Calculation of Profit - Inter-departmental Transfer at cost or
Selling Price.

Unit III: Partnership Accounts


Admission of a Partner – Retirement of a Partner – Death of a Partner.

Unit IV: Partnership Accounts


Dissolution of a Partnership Firm – Insolvency of a Partner – Insolvency of all Partners-
Piecemeal Distribution of cash in case of Liquidation of Partnership Firm.

Unit V: Accounting Standards for financial reporting


Objectives and uses of financial statements for users-Role of accounting standards-
Development of accounting standards in India- Requirements of international accounting
standards - Role of developing IFRS- IFRS adoption or convergence in India- Implementation
plan in India- Ind AS-Difference between Ind AS and IFRS.

Note: Questions in Sec. A, B & C shall be in the proportion of 20:80 between Theory and
Problems.

TEXT BOOK:
1. Lt Bhupinder – principles of Financial Accounting – CENGAGE, New Delhi
2. Raj Kumar Sah –Concepts Building Approach to Financial Accounting - CENGAGE,
New Delhi
3. Gupta, R. L & Gupta, V. K, Advanced Accounting, Sulthan Chand & Sons, New Delhi.
4. Jain & Narang, Financial Accounting, Kalyani Publishers, New Delhi.
UNIVERSITY OF MADRAS
B.Com. (GENERAL) DEGREE COURSE
SYLLABUS WITH EFFECT FROM 2020-2021

SUGGESTED READINGS:
1. Reddy, T. S & Murthy, A. Financial Accounting, Margham Publications, Chennai.
2. Shukla & Grewal, Advanced Accounting, S. Chand & Co., New Delhi.
3. Tulsian P.C.-Financial Accounting.
4. Parthasarathy, S .& Jaffarulla, A. Financial Accounting, Kalyani Publishers, NewDelhi

WEB REFERENCE:
www.accountingcoach.com
www.accountingstudyguide.com
www.futureaccountant.com
www.onlinelibrary.wiley.com

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