Advanced Financial Accounting Bangalore North University B.Com SEP 2024-25 2nd Semester Notes

Unit 1
Single Entry System, Meaning, Features VIEW
Ascertainment of Profits or Loss of a Sole Trader Using Statement of Affairs Method VIEW
Opening and Closing Statement of Affairs VIEW
Statement of Profit or Loss VIEW
Revised Statement of Affairs VIEW
Unit 2
Joint Venture Introduction, Meaning and Objectives VIEW
Distinction between Joint Venture and Partnership VIEW
Recording of Joint Venture Transactions (Both Journal and Ledger) VIEW
When Separate Set of Books are Maintained VIEW
When Separate set of Books are not Maintained (Co-Venturer keeps Records of own Transactions – Memorandum Joint Venture A/c Method) VIEW
Unit 3
Consignment Introduction VIEW
Consignor VIEW
Consignee VIEW
Distinction between Joint Venture and Consignment VIEW
Goods Invoiced at Cost Price VIEW
Goods Invoiced at Selling Price VIEW
Normal Loss and Abnormal Loss VIEW
Valuation of Stock VIEW
Stock Reserve VIEW
Journal Entries and Ledger Accounts in the books of Consignor and Consignee VIEW
Unit 4
Partnership firm to Limited Company Conversion: Introduction, Objectives, Purchase Consideration VIEW
Methods of Calculation of Purchase Consideration: Lump Sum Method, Net Assets Method, Net Payment Method VIEW
Mode of Discharge of Purchase Consideration VIEW
Ledger Accounts in the Books of Vendor VIEW
Incorporation Entries in the Books of Purchasing Company VIEW
Preparation of Balance Sheet in Vertical form VIEW
Unit 5
Royalty, Introduction, Meaning and Definition VIEW
Technical Terms: Royalty, Royalty Agreement, Landlord, Minimum Rent, Short Workings VIEW
Recoupment of Short Working under Restrictive (Fixed Period) and Non-restrictive (Floating Period) VIEW
Recoupment within the Life of the Lease VIEW
Accounting Treatment for Strike and Stoppage of Work VIEW
Accounting Treatment in the books of Lessee VIEW
Accounting Treatment in the books of Lessor VIEW
Journal Entries and Ledger Accounts with Minimum Rent Account VIEW

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