Advanced Financial Accounting

19/11/2020 1 By indiafreenotes

Unit 1 Branch Accounts {Book}

Meaning of Head Office, Branch VIEW
Branch Accounts: Introduction, Meaning, Objectives, Types VIEW
Branch Accounting Objectives and Advantages VIEW
Dependent Branches: Features VIEW
Independent Branches and Foreign Branches VIEW
Methods of maintaining books of accounts by the Head Office VIEW
Meaning and Features of Debtors System, Stock & Debtors System VIEW
Wholesale Branch System and Final Account System VIEW
Methods of ascertainment of Profit or Loss of Branch under Debtors System VIEW
Cost Price Method and Invoice Price Method VIEW
Problems on preparation of Branch A/c in the books of Head Office under Cost Price Method and Invoice Price Method VIEW
Supply of Goods at Cost Price VIEW
Supply of Goods at Invoice Price VIEW

 

Unit 2 Consignment Accounts {Book}
Consignment Accounts: Introduction, Meaning VIEW
Parties in Consignment Consignor and Consignee VIEW
Difference between Consignment and Ordinary Sale VIEW
Special terminologies in Consignment Accounts:
Proforma Invoice, Invoice Price, Account Sales, Non-recurring Expenses, Recurring Expenses, Ordinary Commission, Overriding Commission, Del Credere Commission VIEW
Normal Loss, Abnormal Loss VIEW
Small Problems on Commission and Valuation of Closing Stock VIEW
Consignment Accounts in the books of Consignor VIEW
Problems on preparation of Consignment A/c VIEW
Problems on preparation of Consignee A/c VIEW
Goods Sent on Consignment A/c in the books of Consignor VIEW
Goods Invoiced at Cost Price VIEW
Goods Invoiced at Selling Price VIEW
Valuation of Stock VIEW
Stock Reserve VIEW
Journal Entries, Ledger Accounts in the books of Consignor and Consignee VIEW

 

Unit 3 Accounting for Joint Ventures {Book}
Accounting for Joint Ventures: Introduction, Meaning, Objectives VIEW
Distinction between joint Venture and Partnership VIEW
Accounting for Joint Ventures, Preparation of Joint Venture A/c VIEW
Joint Bank A/c VIEW
Co-Ventures A/C’s VIEW
**Distinction between joint Venture and Consignment VIEW
**Maintenance of accounts in the Books of Co-venturers VIEW
**Maintaining Separate books for Joint Venture VIEW
**Preparation of Memorandum Joint Venture VIEW

 

Unit 4 Royalty Accounts {Book}
Meaning and Definition of Royalty Accounts VIEW
Special terminologies in Royalty Accounts Landlord, Tenant, Output, Minimum Rent/Dead Rent, Short Workings, Recoupment of Short Workings VIEW
Methods of Recoupment of Short Workings Fixed Method and Floating Method VIEW VIEW
Problems on Ascertainment of Royalty Payable VIEW
Preparation of Analytical Table including adjustment for Strike Period VIEW

 

Unit 5 Hire Purchase Accounts {Book}
Meaning and Definition of Hire Purchase System, Instalment Purchase System & Differences VIEW
Special terminologies in Hire Purchase Accounts Hire Vendor, Hire Purchaser, Down Payment, Principal Component, Interest Component VIEW
Cash Price VIEW
Hire Purchase Price VIEW
Need for segregation of Instalment Amount into Principal Component and Interest Component VIEW
Accrual method VIEW
Segregation of Instalment Amount into Principal Component and Interest Component when:
(i) Interest component is not included in the instalment amount VIEW
(ii) Interest component is included in the instalment amount VIEW
(iii) Rate of interest is not given VIEW
(iv) Cash price is not given VIEW