Advanced Financial Accounting Bangalore University 2nd Semester NEP Notes

19/06/2022 1 By indiafreenotes
Unit 1 Insurance Claims for Loss of Stock and Loss of Profit {Book}
Meaning of fire claim, Features and Principles of Fire Insurance VIEW
Concept of Loss of Stock: Loss of Profit and Average Clause VIEW
Computation of Claim for loss of stock (including Over valuation and Under Valuation of Stock VIEW
Abnormal Items VIEW
Application of Average Clause VIEW


Unit 2 Departmental Accounts {Book}
Departmental Accounts Meaning, Advantages, Disadvantages VIEW
Method of Departmental accounting VIEW
Basis of allocation of common expenditure among various departments. VIEW
Types of departments & Inter-department transfers at cost price and invoice price (Theory and proforma journal entries) VIEW
Preparation Departmental Trading and Profit and Loss Account including inter departmental transfers at Cost Price only. VIEW


Unit 3 Conversion of Single Entry into Double Entry {Book}
Meaning, Features Types of Single Entry System VIEW
Merits, Demerits of Single Entry System VIEW
Differences between Single Entry System and Double Entry System VIEW
Need and Methods of conversion of Single Entry into Double entry VIEW
Problems on Conversion of Single Entry into Double Entry (Simple Problems only)


Unit 4 Royalty Accounts {Book}
Royalty and Royalty agreement, Introduction, Meaning, Definition, Types of Royalty VIEW
Differences between Rent and Royalty VIEW
Terms used in Royalty, Lessor, Lessee, Short Workings, Irrecoverable Short Workings, Recoupment of Short Workings, Surplus Royalty VIEW
Methods of Recoupment of Short Workings: Fixed and Floating methods VIEW
Preparation of Royalty Analysis Table (Excluding Government Subsidy) VIEW
Journal Entries and Ledger Accounts in the books of Lessee only:

i) When Minimum Rent Account is opened

ii) When Minimum Rent Account is not opened.

Note: Problems including Strikes and Lockouts, but excluding sub-lease.



Unit 5 Average Due Date and Account Current {Book}
Average Due Date: Meaning, Concept, Uses VIEW
Calculation of Average Due Date:

i) Where amount is lent in one installment

ii) Where amount is lent in various installments

iii) Taking Grace Days into account

iv) Calculation of Due Date few months after date / Sight

Account Current Meaning, Need and Situation leading to Account Current Preparation VIEW
Account Current with the help of:

i) Interest table.

ii) By Means of Product.