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    Advanced Accounting Principle (Aap) .: Semester BBA LLB

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    Anamika Vatsa
    This document outlines the modules covered in an Advanced Accounting Principles course. The modules include: branch and departmental accounting; accounts of non-profit organizations; partnership accounts including retirement, death, and dissolution of partnerships; hire purchase and installment systems; royalty accounts; redemption of preference shares and debentures; and amalgamation, absorption, and reconstruction of companies. The document provides brief descriptions of the accounting treatments and concepts covered within each module.

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    Advanced Accounting Principle (Aap) .: Semester BBA LLB

    Uploaded by

    Anamika Vatsa
    43 views2 pages
    This document outlines the modules covered in an Advanced Accounting Principles course. The modules include: branch and departmental accounting; accounts of non-profit organizations; partnership accounts including retirement, death, and dissolution of partnerships; hire purchase and installment systems; royalty accounts; redemption of preference shares and debentures; and amalgamation, absorption, and reconstruction of companies. The document provides brief descriptions of the accounting treatments and concepts covered within each module.

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    AAP

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    This document outlines the modules covered in an Advanced Accounting Principles course. The modules include: branch and departmental accounting; accounts of non-profit organizations; partnership accounts including retirement, death, and dissolution of partnerships; hire purchase and installment systems; royalty accounts; redemption of preference shares and debentures; and amalgamation, absorption, and reconstruction of companies. The document provides brief descriptions of the accounting treatments and concepts covered within each module.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    43 views2 pages

    Advanced Accounting Principle (Aap) .: Semester BBA LLB

    Uploaded by

    Anamika Vatsa
    This document outlines the modules covered in an Advanced Accounting Principles course. The modules include: branch and departmental accounting; accounts of non-profit organizations; partnership accounts including retirement, death, and dissolution of partnerships; hire purchase and installment systems; royalty accounts; redemption of preference shares and debentures; and amalgamation, absorption, and reconstruction of companies. The document provides brief descriptions of the accounting treatments and concepts covered within each module.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    ADVANCED ACCOUNTING PRINCIPLE (AAP).

    (LW-1332)
    2nd
    Semester BBA;LLB
    Module 1.PNR
    Branch and Departmental Accounts.
    Introduction, objectives, types of branches, branch keeping not keeping full system of
    accounting. Practical problems relating to debtor system, invoice price method, stock and debtor
    system-goods charged to branch at cost price and goods charged to branch at selling price.
    Foreign branch (theories only). .
    Departmental accounting-introduction, objectives advantages.methods of departmental
    accounting-departmental accounts where separate sets of books are maintained for each
    department and accounting methods where accounts of all departments are maintained together
    in a columnar books. Treatment of departmental expenses and allocation and apportionment of
    departmental expenses.
    Distinction between branch and departmental accounts.
    Module -2-RKN
    ACCOUNTS OF NON PROFIT ORGANISATION.
    Meaning of profitable and non–profitable organization, distinction between profitable and non-
    profitable organization,
    Preparation of receipts and payments accounts.
    Preparation of income and expenditure account.
    Distinction between income and expenditure account and receipt and payment account.
    Preparation of balance sheet.
    Module-3-RKN
    Partnership account-accounting treatments at the time of retirement of partner. Goodwill,
    revaluation of assets and liabilities, calculation of new ratio and gain ratio. Joint life policy-
    Total amount due to the retiring partner. Death of a partner.
    Dissolution of partnership-settlement of accounts on dissolution-preparation of realization
    account-insolvency of a partner-settlement of accounts as per Garner vs Murray case. Treatment
    of accounts when all partners are insolvent.
    Module-4-PNR
    Hire purchase and purchase under installment system.
    Introduction and features of hire purchase system-accounting records for goods of considerable
    value-treating goods not becoming the property of the hirer. Credit purchase with interest
    method-entries in the books of the vendor-entries in the books of the hire purchaser. Default and
    repossession. When the vendor takes back the complete repossession of asset and when the
    vendor takes repossession of only part of the total assets sold to the hire purchaser.
    Installment system-features-distinction between hire purchase and installment system-accounting
    entries in the books of the buyer and the vendor
    Module-5-PNR
    Royalty accounts
    Introduction-terms used in royalty agreements-types of royalties-accounting entries in the books
    of the lessee, accounting entries in the books of the land lord or the lessor-sub lease or sub
    royalty.
    Module-6-RKN
    Redemption of preference shares and debentures.
    Redemption of preference shares-introduction-accounting entries.
    Redemption of debentures-introduction-methods of redemption-sinking fund method-insurance
    policy method-redemption by annual drawings-redemption by conversion of debentures into
    shares/ new debentures.
    Module-7-RKN
    Amalgamation-absorption and reconstruction of companies
    Amalgamation and absorption-difference between amalgamation and absorption-entries in the
    books of vendor/selling companies and entries in the books of the purchasing company-purchase
    consideration.
    Reconstruction of companies –external and internal reconstruction-alteration and capital
    reduction. Scheme of capital reduction.
    The end.

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