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Unit 1: Accounting Standards
Lesson 1: Overview to Accounting Standards
Lesson Objective
Introduction
Meaning of Accounting Standards
Significance of Accounting Standards
Need for Accounting Standards
Scope of Accounting Standards
Compliance of Accounting Standards
Accounting Standards Board
Procedure of Issuing Accounting Standards
Indian Accounting Standards
International Accounting Standards
International Financial Reporting Standards
Lesson Summary
Assessment
Unit 2: Accounting for Share Capital
Lesson 1: Share Capital Accounting
Lesson Objective
Introduction
Books of Account
Persons Responsible for Keeping the Books of Account
Statutory Books
Statistical Books
Shares and Share Capital
Preference Shares
Equity Shares
Share Capital in Company's Balance Sheet
Issue of Shares
Issue of Shares for Cash
Issue of Shares at Par
Stockinvest Scheme
Under-subscripttion of Shares
Over-subscripttion of Shares
Calls-in-Advance
Interest on Calls-in-Advance
Calls in Arrear and Interest on Calls in Arrear
Issue of Shares at Premium
Issue of Shares at Discount
Issue of Shares for Consideration other than Cash
Issue of Shares to Vendors
Issue of Shares to Promoters
Forfeiture of Shares
Re-issue of Forfeited Shares
Forfeiture and Re-issue of Shares Allotted on Pro-Rata Basis in case of Over-subscripttion
Lien on Shares
Buy-back of Shares
Redemption of Preference Shares
Rights Issue
Lesson Summary
Assessment
Unit 3: Issue and Redemption of Debentures
Lesson 1: Debentures
Lesson Objective
Loan Capital
Issue of Debentures
Debentures Issued for Cash
Issue of Debentures at Par
Issue of Debentures at Premium
Issue of Debentures at Discount
Debentures Issued for Consideration other than Cash
Debentures Issued as Collateral Security
Terms of Issue of Debentures
Interest on Debentures
Writing off the Discount on Issue of Debentures
Loss on Issue of Debentures
Redemption of Debentures
Mobilisation of Funds for Redemption of Debentures
Methods of Redemption of Debentures
Protection of the Interest of the Debenture Holders
Redemption of Debentures out of Profit
Redemption out of the Proceeds of Fresh Issue of Shares or Debentures
Redemption out of Sale Proceeds of Assets of the Company
Purchase of Debentures in the Open Market
Purchase of Debentures for Immediate Cancellation
Purchase of Debentures as Investment (Own Debentures)
Preparation
Purchase of Debentures before the Specified Date of Payment of Interest [Cum-interest and Ex-interest Quotations]
Conversion of Debentures into Shares
Lesson Summary
Assessment
Unit 4: Underwriting of Issues and Acquisition of Business
Lesson 1: Overview to Accounting Standards
Lesson Objective
Underwriting Agreement
Underwriters and Brokers
Types of Underwriting
Underwriting Commission
Payment of Underwriting Commission
Marked and Unmarked Applications
Determining the Liability of Underwriters
Accounting Treatment to the Underwriting of Shares or Debentures
Lesson Summary
Assessment
Lesson 2: Acquisition of Business
Lesson Objective
Important Points to be noted in Connection with Acquisition of a Business
Accounting Entries in the Books of the Purchasing Company on Acquisition
Profit or Loss Prior to Incorporation
Methods to Ascertain Profit or Loss Prior to Incorporation
Basis of Apportionment of Expenses
Preliminary Expenses
Lesson Summary
Assessment
Lesson 3: Unit Mastery
Mastery Test
Unit 5: Final Accounts of Joint Stock Companies
Lesson 1: Joint Stock Companies
Lesson Objective
Introduction
Preparation and Presentation of Final Accounts
Form and Contents of Balance Sheet and Profit and Loss Account
Schedule VI of the Companies Act, 1956
Profit and Loss Account
Profit and Loss Appropriation Account
Requirement of True and Fair
Treatment of Special Items While Preparing the Final Accounts
Managerial Remuneration
Legal Restrictions
Remuneration to Directors
Remuneration to Manager
Determination of Net Profit for Calculation of Managerial Remuneration
Appropriation or Disposition of Profits
Transfer of Profits to Reserves
Declaration of Dividend out of Reserves
Dividend
Dividend on Preference Shares
Dividend on Partly Paid-Up Shares
Declaration of Dividend
Tax on Distributed Profit
Payment of Dividend
Interim Dividend
Payment of Dividend out of Capital Profits
Payment of Dividend out of Current Profits Without Making Good Past Losses
Capitalisation of Profits and Reserves or Issue of Bonus Shares
Payment of Interest out of Capital
Lesson Summary
Assessment
Unit 6: Consolidation of Accounts
Lesson 1: Consolidation of Accounts of Holding Company and its Subsidiary Company
Lesson Objective
Definition
Legal Requirements for Preparation and Presentation of Final Accounts of a Holding Company and its Subsidiary or Subsidiaries
Consolidation of Balance Sheet and Profit and Loss Account
Preparation of Consolidated Balance Sheet
Investment in Shares of Subsidiary Company
Minority Interest
Pre-acquisition Profits and Reserves of Subsidiary Company
Pre-acquisition Losses of Subsidiary Company
Profit on Revaluation of Assets of Subsidiary Company
Loss on Revaluation of Assets of Subsidiary Company
Goodwill or Cost of Control
Post-acquisition Profits or Losses
Inter-company Unrealised Profits Included in Unsold Goods
Inter-company Transactions
Contingent Liabilities
Preference Shares in Subsidiary Company
Bonus Shares
Treatment of Dividend Received from Subsidiaries
Holding Company Consisting of More than One Subsidiary
Preparation of Consolidated Profit and Loss Account
Lesson Summary
Assessment
Unit 7: Valuation of Shares and Intangible Assets
Lesson 1: Valuation of Shares
Lesson Objective
Need for the Valuation of Shares
Methods of the Valuation of Shares
Determination of Normal Rate of Return and Capitalisation Factor
Fair Value of Shares
Special Factors for the Valuation of Shares
Valuation of Preference Shares
Lesson Summary
Assessment
Lesson 2: Valuation of Intangible Assets
Lesson Objective
Intangible Assets
Identifiability of Intangible Assets
Recognition and Initial Measurement of an Intangible Asset
Separate Acquisition of Intangible Assets
Acquisition of Intangible Assets by Amalgamation
Acquisition of Intangible Assets by Government Grant
Internally Generated Goodwill
Cost of Internally Generated Intangible Asset
Recognition of Expense on Intangible Asset
Subsequent Expenditure on Intangible Assets
Amortisation on Intangible Assets
Recoverability of the Carrying Amount - Impairment Losses
Retirement and Disposal of Intangible Assets
Lesson Summary
Assessment
Lesson 3: Unit Mastery
Mastery Test
Unit 8: Introduction to Cost and Management Accounting
Lesson 1: Cost and Management Accounting
Lesson Objective
Concepts of Cost
Costing, Cost Accounting and Cost Accountancy
General Principles of Cost Accounting
Objectives of Cost Accounting
Importance of Cost Accounting
Classification of Costs
Cost Centre and Cost Unit
Techniques of Costing
Methods of Costing
Installation of a Costing System
Practical Difficulties in Installing a Costing System
Management Accounting
Nature of Management Accounting
Scope of Management Accounting
Role of Management Accountant
Tools and Techniques of Management Accounting
Difference Between Financial Accounting and Cost Accounting
Difference Between Financial Accounting and Management Accounting
Difference Between Cost Accounting and Management Accounting
Limitations of Management Accounting
Lesson Summary
Assessment
Unit 9: Material Cost
Lesson 1: Introduction to Material Cost
Lesson Objective
Cost of Material
Methods of Purchasing
Purchase Procedure
Pricing of Store Receipts
Store Keeping
Functions of Store Keeping
Classification and Codification of Materials
Inventory Control
Objectives of Inventory Control
Techniques of Inventory Control
Issue of Materials
Material Requisition Note
Bill of Materials
Control of Material Issues
Pricing of Material Issues
The Pricing of Material Returns
Material Transfer Note
Material Losses
Control of Material Losses
Lesson Summary
Assessment
Unit 10: Labour Cost
Lesson 1: Various Aspects of Labour Cost
Lesson Objective
Cost of Labour
Time Recording
Labour Remuneration
Basic Methods of Remuneration
Incentive Schemes
Classification of Incentive Schemes
Indirect Monetary Incentive Schemes
Other Non-monetary Incentive Schemes
Labour Turnover
Idle Time
Overtime
Miscellaneous Topics
Preparation of Payrolls
Lesson Summary
Assessment
Unit 11: Direct Expenses and Overheads
Lesson 1: Types of Expenses and Overheads
Lesson Objective
Direct Expenses
Indirect Expenses
Overheads
Classification of Overheads
Standing Order Numbers
Treatment of Factory Overheads
Collection of Overheads
Allocation and Apportionment of Overheads (Departmentalisation of Overheads)
Absorption of Overheads
Methods of Absorbing Production Overheads
Over or Under Absorption of Overheads
Treatment of Administrative Overheads
Treatment of Selling and Distribution Overheads
Control of Overheads
Lesson Summary
Assessment
Unit 12: Methods of Costing
Lesson 1: Unit Costing and Contract Costing
Lesson Objective
Single or Output or Unit Costing
Cost Sheet
Production Account
Contract Costing
Specific Aspects of Contract Costing
Profits on Incomplete Contracts (Based on AS 7 - Revised)
Lesson Summary
Assessment
Unit 13: Budgetary Control
Lesson 1: Budgets and Budgetary Control
Lesson Objective
Budget
Budgetary Control
Forecast and Budget
Objectives of Budgetary Control
Advantages of Budgetary Control
Limitations of Budgetary Control
Preliminaries for the Adoption of a System of Budgetary Control
Installation of Budgetary Control System
Classification of Budgets
Zero Base Budgeting
Performance Budgeting
Lesson Summary
Assessment
Unit 14: Marginal Costing
Lesson 1: Techniques of Marginal Costing
Lesson Objective
Introduction to Marginal Costing
Contribution
Determination of Profit Under Marginal and Absorption Costing
Difference Between Absorption Costing and Marginal Costing
Advantages of Marginal Costing
Limitations of Marginal Costing
Applications of Marginal Costing
Pricing Decisions (Discriminating Price and Differential Selling)
Cost Volume-Profit Analysis
Objectives of Cost-Volume-Profit Analysis
Profit-Volume Ratio
Break-Even Analysis
Methods for Determining Break Even Points
Margin of Safety
Composite Break-even Point
Practical Applications of Profit Volume Ratio
Other Uses of Cost - Volume - Profit Analysis
Advantages of Break-even Charts
Limitations of Break-even Analysis/Charts
Lesson Summary
Assessment
Unit 15: Analysis and Interpretation of Financial Statements
Lesson 1: Financial Statements and Ratio Analysis
Lesson Objective
Financial Statements
Nature of Financial Statements
Attributes of Financial Statements
Objectives of Financial Statements
Importance of Financial Statements
Limitations of Financial Statements
Recent Trends in Presenting Financial Statements
Analysis of Financial Statements
Types of Financial Statement Analysis
Methods of Analysing Financial Statements
Objectives of Financial Statement Analysis
Limitations of Financial Statement Analysis
Accounting Ratios
Uses of Ratios
Classification of Ratios
Advantages of Ratio Analysis
Limitations of Ratio Analysis
Lesson Summary
Assessment
Unit 16: Cash Flow Statement
Lesson 1: Sources and Application of Cash Flow Statement
Lesson Objective
Introduction
Classification of Cash Flows
Special Items
Preparation of a Cash Flow Statement
Reporting of Cash Flows From Operating Activities
Format of Cash Flow Statement
Usefulness of Cash Flow Statement
Lesson Summary
Assessment
Unit 17: Main Mastery
Mastery Test
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