Financial Accounting and Reporting

Syllabus

Hours

Module 1: Final Accounts of Partnership Firm

Meaning of Partnership Firm, Partnership Deed–Clauses in Partnership Deed, Preparation of Final Accounts of Partnership Firm–Trading and Profit and Loss Account, Profit and Loss Appropriation Account, Partners Capital Account and Balance Sheet. Goodwill– Nature, Factors Influencing Goodwill and Methods of Valuation of Goodwill (Average and Super Profit Methods)

10

Module 2: Issue of Shares

Meaning of Share, Types of Shares – Preference Shares and Equity Shares – Issue of Shares at Par, at Premium, at Discount: Pro-Rata Allotment; Journal Entries Relating to Issue of Shares; Preparation of Respective Ledger Accounts; Preparation of Balance Sheet in the Vertical Form (Practical Problems).

08

Module 3: Final Accounts of Joint Stock Companies

Statutory Provisions Regarding Preparation of Company Final Accounts – Treatment of Special Items, Managerial Remuneration, Tax Deducted at Source, Advance Payment of Tax, Provision for Tax, Depreciation, Interest on Debentures, Dividends, Rules Regarding Payment of Dividends, Transfer to Reserves, Preparation of Profit and Loss Account and Balance Sheet (Vertical Form Schedule -III)
(Practical Problems).

12

Module 4: Financial Statements Analysis

Comparative Statements – Comparative Income Statement, Comparative Balance Sheet; Common Size Statements – Common Size Income Statement, Common Size Balance Sheet – Trend Percentages. (Analysis and Interpretation)

12

Module 6: Corporate Financial Reporting Practices

Corporate Financial Reporting – Meaning, Types, Characteristics of Corporate Financial Report, Users of Corporate Financial Report; Components Corporate Financial Report– General Corporate Information, Financial Highlights, Letter to the Shareholders from the CEO, Management's Discussion and Analysis; Financial Statements-Balance Sheet, Income Statement, Cash Flow Statement, and Notes to the Financial Statements; Auditor's Report; Significant Accounting Policies; Corporate Governance Report; Corporate Social Responsibility Report (Discuss only Role and Significance of above Components of Corporate Financial Report).

10