Dibrugarh University - Semester I - Financial Accounting Syllabus

Course No. 103 FINANCIAL ACCOUNTING (FACC-III)
(For B.Com.General And Six Speciality Courses )
Marks: 80 Hours: 40
Objective: To impart reasonable knowledge on the subject and its application to business.
Course Contents:

Unit I: Preparation of Financial Statements by Sole Trading and Partnership Firms-use of Accounting Standards (AS), vis-à-vis. IFR standards, Accounting Policies- disclosure and change.              20: 10 hrs

Unit II: Hire purchase and Installment Purchase System —Meaning, features, Advantages and disadvantages, Rights of Hire purchaser and Hire vendor (including legal position), Methods of calculation of interest and cash price of an asset, Accounting treatment under Hire Purchase, Repossession of Assets and Preparation of Hire purchase trading account. Installment purchase system; meaning, difference between hire purchase and installment purchase system, accounting entries under installment purchase system.          20: 10 hrs

Unit III: Branch Accounting —Meaning, objectives, need of Branch Accounting; classification of Branches; Accounting treatment of Branch Accounting – synthetic or Debtors System, Analytical or stock and debtor for system. Final Account system including accounting treatment for independent Branch. Departmental accounting; introduction, methods and techniques, allocation of expenses, inter departmental transfer, preparation of departmental Trading, Profit and Loss account and balance sheet.                 20: 10 hrs

Unit IV: Meaning of royalty, minimum rent, short working, recoupment of short working, sub-lease, accounting for royalty including sub-lease.              20: 10 hrs

Text and Reference Books:
1.Maheswari & Maheswari: Advanced Accountancy, Vikas Publishing House. New Delhi .
2.Hanif & Mukherjee: Modern Accountancy Vol-I & II., Tata Mc. Graw. New Delhi.
3.Rajaseharam: Financial Accounting; Pearson Education New Delhi
4.Dam, BB; Gautam HC & Goswami K: Financial Accounting, Ashok Publishing, Guwahati.
5. Sukla and Grewal: Advanced Accountancy, S. Chand, New Delhi.
6. Paul: Financial Accounting, New Central Book Agency, Hyderabad.
7. Sinha: Financial Accounting, New Central Book Agency, Hyderabad
8. Tulsian: Financial Accounting, Pearson, New Delhi.