15MM33T: Elements of Corporate Accounting Office Mgmt 3rd Sem Syllabus for Diploma DTE Karnataka C15 Scheme

Elements of Corporate Accounting detail DTE Kar Diploma syllabus for Modern Office Management (MM), C15 scheme is extracted from DTE Karnataka official website and presented for diploma students. The course code (15MM33T), and for exam duration, Teaching Hr/week, Practical Hr/week, Total Marks, internal marks, theory marks, duration and credits do visit complete sem subjects post given below. The syllabus PDFs can be downloaded from official website.

For all other office mgmt 3rd sem syllabus for diploma c15 scheme dte karnataka you can visit Office Mgmt 3rd Sem Syllabus for Diploma C15 Scheme DTE Karnataka Subjects. The detail syllabus for elements of corporate accounting is as follows.

Pre-requisites:

Detailed Accounting Knowledge relating to Corporate Entities.

Course Objectives:

The students shall be able to:

1. Understanding the Theoretical Framework pertaining to Raising of Corporate Finance.
2. Understand various Accounting Entries as followed in Raising of Corporate Finance.
3. Compute the Value of Goodwill of Corporate Entities by making use of Various Methods.
4. Calculate the Intrinsic Value of Shares of Corporate Entities by applying different Available Methods.
5. Understanding the Theoretical Framework pertaining to Final Accounts of Corporate Entities.
6. Prepare the Final Accounts of the Corporate Entities in Prescribed Format.

Course Outcomes:

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UNIT 1: RAISING OF CORPORATE FINANCE- I:

Meaning of Share- Kinds of Shares – Accounting Entries on Issue of Shares, Allotment and Calls on Shares – Calls in Arrear and Calls in Advance – Under Subscription and Over Subscription of Shares – Pro-rata Allotment – Issue of Shares on Par, at Premium and at Discount – Forfeiture of Shares -Reissue of Forfeited Shares. 08 Hours

UNIT 2: RAISING OF CORPORATE FINANCE- II

Problems on Issue of Shares, Allotment and Calls on Shares – Problems on Calls in Arrear and Calls in Advance – Problems on Under Subscription and Over Subscription of Shares – Pro-rata Allotment – Problems on Issue of Shares on Par, at Premium and at Discount – Problems on Forfeiture of Shares & Reissue of Forfeited Shares – Relevant Entries in the Balance Sheet. 08 Hours

UNIT 3: VALUATION OF GOODWILL:

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UNIT 4: VALUATION OF SHARES

Meaning of Valuation of Shares – Circumstances necessitating the Valuation of Shares – Factors affecting the Value of Shares – Problems on Valuation of Intrinsic Value of Shares under Net Assets Method, Yield and Earning Capacity Method. 10 Hours

UNIT 5: FINAL ACCOUNTS OF CORPORATE ENTITIES – I:

Components of Final Accounts of Corporate Entities – Format of Profit and Loss Account, Profit and Loss Appropriation Account and Prescribed Format of Balance Sheet.
08Hours

UNIT 6: FINAL ACCOUNTS OF CORPORATE ENTITIES – II:

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Text Books:

1. Corporate Accounting by Goyal & Goyal – PHI Learning.
2. Corporate Accounting by Dr.P.C.Tulsian – S.Chand & Company
3. Advanced Accounts Vol – II by M.C.Shukla – S Chand & Company
4. Accountancy Vol II by B.S. Raman
5. Accountancy Vol II by Kadkol
6. Advanced Accountancy By S.K.R.Paul

Reference Books:

1. www.brau.in/images/3rdyear-syllabus-papers/bcom/syllabus.pdf
2. www.futureaccountant.com/accounting-process/study-notes/financial
3. www.unipune.ac.in/Syllabi_PDF/commerce/S.Y.B.Com Syllabus.pdf

Course Delivery:

The course will be delivered through lectures and Power point presentations/Video.

Model Question Paper:

(CIE)

1. The Capital of Corporate Company consists of 20000 Equity Shares of ? 10 each fully paid. The Annual profit of the Company is ? 20000 which is expected to be maintained even in future. The normal Rate of Return on the paid up value of shares for similar type of business is 8% p.a. Compute the value of each Equity Share by using Yield Basis Method on profit Basis. 5 Marks
2. From the following particulars extracted from the Books of a Corporate Entity, Compute the value of Goodwill of the Corporate Entity under Annuity Method.
1. Expected Future Profit: ? 25000
2. Maintainable Profit/Average Profit 😕 15000
3. Super Profit: ? 10000
4. No. of Years over which Super profit is to be paid: 5 years
5. Rate per cent p.a.: 5 %.
3. What do you understand by ‘Share’? Briefly describe the different methods of Valuation of Shares?
4. What is meant by ‘Goodwill’? How do you Classify Goodwill?

Note to IA verifier:

The following documents to be verified by CIE verifier at the end of semester

1. Blue books ( 20 marks)
2. Student suggested activities report for 5 marks and should be assessed
3. Student feedback on course regarding Effectiveness of Delivery of instructions & Assessment Methods.

Model Question Paper:

PART-A

(Answer any SIX Questions from this Section)

1. Distinguish between Calls in Arrear and Calls in Advance. 5 Marks
2. What is meant by ‘Goodwill’? How do you Classify Goodwill? 5 Marks
3. What are the different Stages of Collecting Money when shares are issued by a Public Company? 5 Marks
4. What do you understand by ‘Share’? Briefly describe the different methods of Valuation of Shares? 5 Marks
5. The profits of a Corporate Company for the last 4 years were as under:

[Year Profit]

1. 211 Rs12000
2. 212 Rs15000
3. 213 Rs16000
4. 214 Rs20000

Compute the value of Goodwill of the Corporate Company on the basis of 3 years Purchase of Weighted Average after assigning Weights 1,2,3,and 4 serially to the given profits. 5 Marks

6. The Capital of Corporate Company consists of 20000 Equity Shares of Rs 10 each fully paid. The Annual profit of the Company is Rs 20000 which is expected to be maintained even in future. The normal Rate of Return on the paid up value of shares for similar type of business is 8% p.a

Compute the value of each Equity Share by using Yield Basis Method on profit Basis. 6 Marks

7. Abhiram Kumar Company Limited issued 10000 Equity Shares of Rs 10 each at a premium of Rs 2 per share payable as follows:
1. Rs 3 on Application
2. Rs 4 on Allotment (including premium)
3. Rs 3 on First Call and
4. Rs 2 on Final Call

All the shares were subscribed and all the calls were made and the money was realized.
You are asked to pass necessary journal entries in the Books of the Company. 5 Marks

8. From the following particulars extracted from the Books of a Corporate Entity, Compute the value of Goodwill of the Corporate Entity under Annuity Method.
1. Expected Future Profit: Rs 25000
2. Maintainable Profit/Average Profit :Rs 15000
3. Super Profit: Rs 10000
4. No. of Years over which Super profit is to be paid: 5 years
5. Rate per cent p.a.: 5 %. 5 Marks
9. What do you mean by Balance Sheet and what are its contents 5 Marks

PART-B

(Answer any SEVEN Questions from this Section) 10 x 7 = 70 Marks

1. Following particulars have been extracted from the Books of Sasha Aras Company Limited:

[PARTICULARS Rs]

1. Equity Share Capital: (25000 Shares of Rs 10 each fully paid. Rs 2,50,000
2. Goodwill Rs 61,250
3. 9% Debentures Rs 1,00,000
4. Sundry Creditors Rs 65,000
5. 8% Preference Share Capital: (2000 Shares of Rs 100 each fully paid. Rs 2,00,000
6. Fixed Assets Rs 3,50,000
7. Investments Rs 30,000
8. Current Assets Rs 2,40,000

From the above particulars, you are asked to compute the Intrinsic Value of Shares under Net Assets Method. 10 Marks

2. Shruthi Company Limited issued 25000 Equity Shares of Rs 25 each at a Discount of 8% payable as follows:
1. Rs 5 on Application
2. Rs 7 on Allotment (excluding Discount)
3. Rs 6 on First Call and
4. Rs 4 on Final Call

All the Shares were subscribed and all the calls were duly made and the money received except one shareholder holding 1000 shares failed to pay the First and Final Call Money. The Directors of the company forfeited these shares. 700 of these shares were reissued at Rs 20 per share as fully paid up.
Pass Journal Entries to give effect to the above transactions in the Books of the Shruthi Company Limited and also prepare the Company’s Balance Sheet as emerging. 10 Marks

3. Domestic Company Limited has invested a sum of Rs. 3, 00,000 in its own business which is a very profitable one. The Annual Profit earned from its Business is Rs 60,000 which included a sum of Rs 10,000 received as compensation for acquisition of part of it’s Business. The money could have been invested in deposits for a period of 5 years at 10% interest and itself could earn ? 7,200 per annum in alternative employment considering 2% as fair compensation for the risk involved in the business. From the above, you are asked to calculate the value of Goodwill of its business on Capitalization of Super Profits at normal rate of return of 12%. per annum. 10 Marks
4. The Directors of Lucky Ltd. forfeited 1000 Equity Shares of Rs. 10/- each fully Called up, for Non-payment of First Call of Rs. 3/- and Final Call of Rs. 3 per share. Out of these forfeited shares, 400 Shares were reissued at Rs. 8/- each as fully paid up. You are required to pass necessary Journal Entries and Prepare Ledger Accounts for Forfeited Shares Account and Capital Reserve Account only. 10 Marks
5. Briefly describe the various circumstances necessitating the valuation of Goodwill. 10 Marks
6. Explain the various circumstances necessitating the valuation of Share. 10 Marks
7. What do you understand by the components of Final Accounts of Corporate Entities? Briefly describe them. 10 Marks
8. Write down the Statutory Format of the Balance Sheet of a Corporate Concern. 10 Marks
9. A Corporate Company is desirous of selling its business to another Corporate Company. The former has earned an average profit of ? 2, 00,000 p.a. and it is likely to be earned even in the future. The value of the net tangible assets of the business at the proposed date of sale was ? 19, 00,000. It was considered that a reasonable rate of return on capital invested for this type of business of the Corporate Company was 8% p.a. Calculate the value of Goodwill of the above Corporate Company which is desirous of selling its business under Capitalization Method. 10 Marks
10. Following is the Trial Balance of Jyotsna Company Ltd., as on 31st March 215
1. [Particulars Dr. Rs. Cr. Rs.]
1. Equity Share Capital – 3,00,000
2. 12% Preference Share Capital – 2,00,000
3. Reserve Fund – 1,50,000
4. Buildings 5,00,000 –
5. 10% Debentures – 2,00,000
6. Plant and Machinery 2,00,000 –
7. Purchases and Sales 2,50,000 6,00,000
8. Salary 60,000 –
9. Debtors and Creditors 2,30,000 1,75,000
10. Bills 80,000 90,000
11. Directors Fees 20,000 –
12. Bad Debts 5,000 –
13. Returns 15,000 20,000
14. Wages 15,000 –
15. Opening Stock 45,000 –
16. Profit and Loss Account on 1.04.214 – 60,000
17. Loose Tools 60,000
18. Goodwill 80,000
19. Discount on Issue of Shares 20,000
20. Cash and Bank Balances 33,000
21. 12% Investments (1.04.214. 2,00,000
22. Interest on Investment – 18,000
2. Adjustments:
1. Closing Stock is valued at Rs. 1,40,000
2. Outstanding Wages Rs.2, 500.
3. Write off 10% of Goodwill.
4. Write off 10% of Discount on Issue of Shares.
5. Debenture Interest is outstanding for the whole year.
6. Write off Rs. 5,000 further bad debts and create Reserve for doubtful debts at 5 %
7. Building and Plant and Machinery to be depreciated by 5% and 10% respectively.
8. Transfer Rs. 25,000 to reserve.
9. The Directors proposed 15% dividend to Equity Shareholders.

You are required to prepare Company’s Final Accounts. 10 Marks

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