Advance Financial Accounting [Syllabus]

B.Com Honours in Accounting: 3 rd Semester 

Core Paper 5: ADVANCED FINANCIAL ACCOUNTING 

 Unit 1: Partnership Accounts: Dissolution of Partnership Firms; Insolvency of Partners (Application of Garner Vs Murray Rule); Insolvency of all Partners; Consideration of private estate and private liabilities; Piecemeal Distribution, Proportionate Capital Method and Maximum Possible Loss Method. 

Unit 2: Hire Purchase and Installment Payment System: Meaning; Distinction between Hire Purchase and Installment System; Calculation of Interest; Calculation of Cash Price; Entries in the Books of Hire Purchaser and Hire Vendor; Full and Partial Repossession; Hire Purchase Trading Account; Stock and Debtors Method; Entries in case of Installment Payment System; Interest Suspense Method. 

Unit 3: Branch and Departmental Accounts: Distinction between branch and departments; Different types of branches; Accounts of various types of branches; Synthetical and Analytical Method; Distinction between wholesale and retail profit at a branch; Departmental Accounts; Allocation of expenses; Inter – Departmental transfers. 

Unit 4: Insurance Claim: Loss of Stock; Consequential loss of profit; Average clause. 

Unit 5: Royalty (including sub-lease): Meaning of Royalty; Lessor and Lessee; Concept of Shortworkings; Recovery of Shortworkings; Minimum Rent or Dead Rent; Accounting entries in the books of lessor and lessee. Unit 6: Miscellaneous: Investment Accounts; Sale or Return; Voyage Accounts.

For 2018-19 as per KNU

Source:KNU