- DESCRIPTION
- INDEX
First upon we are thankful to all readers of the Business Accounting-I & Financial Accounting-I 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 Financial Accounting-II, F.Y.B.Com of Savitribai Phule Pune University 2024 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 Financial Accounting. The book is organized into four chapters viz Accounting Standards and Ind AS, Insurance Claims, Valuation of Goodwill, & Accounting for Investment. 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. Accounting Standards and Ind AS
1.1 Introduction
1.2 Accounting Standards (AS)
1.3 Indian Accounting Standards (Ind AS)
1.4 Difference Between Accounting Standards (AS) and Indian Accounting Standards (Ind AS)
1.5 AS 10 Property, Plant and Equipment
1.6 Ind AS 16 Property, Plant, and Equipment
1.7 Practical Examples
2. Insurance Claims
2.1 Introduction
2.2 Types of Loss
2.3 Need for Insurance Claim
2.4 Methods of Insurance Claim
2.4.1 Claim for Loss of Stock: Gross Profit Ratio, Average Clause, Abnormal Items of Goods.
2.4.2 Claim for Loss of Profit / Consequential Loss: Indemnity Period, Dislocation Period, Corresponding Period, Standard Turnover, Annual Turnover, Short Sales, Gross Profit Ratio, Indemnity Ratio, Amount of Policy, Average Clause
3. Valuation of Goodwill
3.1 Meaning of goodwill
3.2 Features of Goodwill
3.3 Types of Goodwill
3.4 Valuation of Goodwill
3.5 Need of Valuation of Goodwill
3.6 Factors Affecting the Value of Goodwill
3.7 Methods of Valuation of goodwill
A) Simple Profit /Average Profit Method
B) Super Profit Method -1. Purchase of super profit method / Numbers of Year Purchase Method 2. Sliding scale valuation of super profit method 3. Annuity method of super profit 4. Capitalization of super profit method.
4. Investment Accounting
4.1 Introduction
4.2 AS 13: Accounting for Investment
4.3 Meaning and Definition of Investments
4.4 Types of Investments
4.5 Preparation of Investment Ledger Account.
4.6 Accounting Treatments – Interest, Dividends, Brokerage, Bonus Shares, Right Shares, Cost of Investment, Profit or Loss on Sale of Securities, Valuation of Securities.
4.7 Practical Examples
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