Financial Accounting – I
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ISBN:
₹280.00
- DESCRIPTION
- INDEX
First upon we are thankful to all readers of the Financial Accounting-I & II, Corporate Accounting I & II and Advanced Accounting I & II books for countless response. We are privileged to present this book to Commerce students, respectful faculties, and readers as a skill enhancement course. This book is projected for undergraduate-level students, businessmen, and accounting practitioners as per NEP-2020. This book is designed in fulfillment of the revised syllabi of Business Accounting, F.Y.B.Com of Savitribai Phule Pune University 2022 as per National Education policy. This book is also proficient and useful to students and faculties of financial accounting from diverse Universities in India. All chapters are discussed in a detailed, simple, and lucid language which would help students their study advanced accounting in easy manner. Adequate and explicable theory and practical illustrations are given under each topic. Our book aims to assist readers concerning about importance and recent issues of advanced accounting. The book is organized into four chapters viz Amalgamation of Partnership Firms, Sale of a Firm to a Company, Accounting for Leases and Hire Purchase System, and Royalty Accounts. We tried to make this book in such a way that would assist students and readers to understand the basics regarding all the chapters incorporated in it. In addition to this, we comprise a number of variant illustrative solutions using simple and comprehensible methods. This book is the gateway to B.Com. in Accountancy.
Overall, we hope that this book will be beneficial to all readers including students, faculties, professionals, businessmen and accounting practitioners.
1. Amalgamation of Partnership Firms
1.1 Meaning of Amalgamation of Partnership Firms.
1.2 Need/ Objectives of Amalgamation of Partnership Firms
1.3 Accounting Treatment and Preparation of Ledger Accounts.
1.3.1 Accounting Entries in the Books of Old Firms.
1.3.2 Preparation of Ledger Accounts in the Books of Old Firms.
1.3.3 Accounting Entries in the Books of New Firm.
1.3.4 Amalgamated Balance Sheet
1.4 Examples
1.5 Exercise
2. Sale of A Firm to A Company
2.1 Introduction.
2.2 Meaning.
2.3 Need for Conversion of Partnership Firm into Company.
2.4 Steps in Conversion of Firm into Limited Company.
2.5 Methods of Calculation of Purchase Consideration.
2.5.1 Net Asset Method.
2.5.2 Net Payment Method.
2.6 Accounting Treatment.
2.6.1 Accounting Entries in the books of the firm.
2.6.2 Preparation of Ledger Accounts in the Books of Old Firm.
2.6.3 Accounting Entries in the Books of New Company.
2.6.4 Balance Sheet of New Company.
2.7 Illustrations.
2.8 Exercise.
3. Accounting for Leases and Hire Purchase System
3.1 Introduction
3.2 Types of Lease
3.3 AS-19 : Accounting for Leases and Ind AS-17 :
3.3.1 AS-19: Accounting for Leases and Ind AS-17: Leases
3.3.2 Difference between AS-19 and Ind AS-17
3.3.3 Numerical Illustrations on AS-19
3.4 Hire Purchase System :
3.4.1 Concept of Hire Purchase
3.4.2 Formation of the Purchase Agreement or Contract of Hire Purchase
3.4.3 Hire Purchase Contract
3.4.4 Important Terms in Hire Purchase Agreement
3.4.5 Ways for Termination of Hire Purchase Agreement and Remedies in Case of Breach
3.4.6 System of Accounting Records: When Goods of Substantial Sales Value only
3.5 Solved Problems on Hire Purchase System
3.6 Exercise
4. Royalty Accounts
4.1 Meaning of the term Royalty
4.2 Important Terms : Minimum Rent or Dead Rent, Short Workings, Recoupment of Short Workings
4.3 Accounting Treatment of Royalty Account
4.3.1 Royalties without any Minimum Rent
4.3.2 Royalties with a Minimum Rent
4.3.3 Accounting Entries and Preparation of Ledger Accounts without Minimum Rent Account and with Minimum Rent Account
4.4 Problems on Royalty Account
4.5 Sub-Lease: Meaning and Accounting Entries/ Treatments in Sub-Lease
4.6 Problems on Sub-Lease
4.7 Exercise