Financial Accounting IV detailed syllabus for Commercial Practice (CP) for 2021 revision curriculum has been taken from the SITTTRs official website and presented for the Commercial Practice students. For course code, course name, number of credits for a course and other scheme related information, do visit full semester subjects post given below.
For Commercial Practice 4th Sem scheme and its subjects, do visit Commercial Practice (CP) 4th Sem 2021 revision scheme. The detailed syllabus of financial accounting iv is as follows.
Course Objectives:
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Course Outcomes:
On completion of the course, the student will be able to:
- Prepare Profit and Loss Appropriation Account and Capital account of Partnership Firm.
- Prepare accounts on reconstitution of Partnership Firm.
- Prepare accounts in connection with dissolution of Partnership Firm.
- Explain issue of shares and prepare final accounts of a Joint Stock Company as per Companies Act 2013.
Module 1:
Introduction to Partnership accounting: Basic concept – Fixed Capital and Fluctuating Capital method – Interest on capital – Interest on drawings – Methods of valuing goodwill -Average profit method – Weighted Average Method – Super Profit Method – Capitalization Method – Present Value of Super Profits Method – Change in profit sharing ratio.
Module 2:
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Module 3:
Dissolution of partnership: Meaning of dissolution – Dissolution of partnership and dissolution of partnership firm – Reason for dissolution – Realization account – Accounting procedure on dissolution of firm – Meaning of Insolvency – Garner vs. Murray case -Principles laid down in the ruling on Garner vs. Murray case.
Module 4:
Introduction to Company Accounts: Shares and Share capital – Classes of shares – Types of share capital – Procedure of issue of shares – Journal entries of issue of shares under various situations – at par and at premium – Meaning of ASBA – pro-rata allotment of shares – Adjustment of calls in advance and calls in arrears – Forfeiture and reissue of shares.
Final Accounts of Companies – Preparation of final accounts according to revised schedule III – Form and contents of Balance Sheet (Vertical form with notes), Profit and Loss account (Vertical form with notes) – Solve simple problems of final accounts of company.
Text Books:
For the complete syllabus, results, class timetable, and many other features kindly download the iStudy App
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Reference Books:
- M.C. Shukla & T.S. Grewal. Advanced Accounts Volume 1 .S. Chand Publishing.
- B.S. Raman. Financial Accounting – Volume 2. United Publishers, Mangalore.
- S.N. Maheswary. Financial Accounting .Vikas Publishing House.
- Dr. S. M. Shukla. (2020). Advanced Financial Accounting .Sahithya Bhawan Publications.
Online Resources
For the complete syllabus, results, class timetable, and many other features kindly download the iStudy App
It is a lightweight, easy to use, no images, and no pdfs platform to make students’s lives easier..
For detailed syllabus of all other subjects of Commercial Practice (CP), 2021 revision curriculum do visit Commercial Practice 4th Sem subject syllabuses for 2021 revision.
To see the syllabus of all other branches of diploma 2021 revision curriculum do visit SITTTR diploma all branches syllabus..
To see the results of Commercial Practice (CP) of diploma 2021 revision curriculum do visit SITTTR diploma Commercial Practice (CP) results..
For all Commercial Practice academic calendars, visit Commercial Practice all semesters academic calendar direct link.