Wednesday, July 11, 2012

Dibrugarh University - Semester I - Financial Accounting

Total Marks: 100 (End Sem 80 + IA 20)
Preparation of Financial Statements – Use of accounting Standard (AS), Vis-à-vis IFR Standards, Accounting Policies – Disclosure and Change.

Unit-II: Hire Purchase and Installment Purchase system:  CLICK HERE FOR NOTES
Meaning, Features, Advantages and Disadvantages, Rights of Hire Purchaser and Hire Vendor (Including Legal Position), Methods of Calculation of Interest cum Cash price on an asset, Accounting treatment under Hire Purchase and Installment system including Repossession of assets and Hire purchase Trading account.

Unit-III: Branch Accounting:  CLICK HERE FOR NOTES
Meaning, objectives, Need of Branch accounting, Classification of Branches, Accounting Treatment of Branch accounting – Synthetic or Debtors system, Analytical or Stock and Debtors for system, Final Account System including accounting treatment for Independent and Foreign Branch.

Unit-IV: Royalty Accounting:  CLICK HERE FOR NOTES
Meaning, Minimum rent, Shortworking, Recoupment of Shortworking, sub-lease, Accounting for royalty including Sub-lease.

Unit-V: Partnership Accounts:  CLICK HERE FOR NOTES
Amalgamation – Meaning, Types, Accounting Treatment for Amalgamation of one sole proprietorship business with another Sub-proprietor, One sole proprietorship business with partnership firm and amalgamation of one Partnership firm with another partnership firm.
Dissolution of Firms – Meaning, Grounds of dissolution, Settlement of Accounts, Firm’s debts and Private debts, Accounting for closing books of accounts of the firm, Applicability of the Decision in Garner vs. Murray in India.

Text and Reference Books:
1. Maheswari and Maheswari: Advanced Accountancy, Vikas Publishing House, New Delhi.
2. Hanif and Mukherjee: Modern accountancy Vol - I & II., Tata Mc. Graw, New Delhi.
3. Rajaseharam: Financial Accounting, Pearson Education, New Delhi.
4. Dam, BB, Gautam HC & K. Goswami: Financial Accounting, Ashok Publishing, Guwahati.