Objective of the Course:
To equip the learner to understand the higher-level applications of accounting in
corporate sector and recent developments.
1 The learner should be able to prepare consolidated financial statements of group companies.
2 Preparation of the financial statements of public utility companies and deal with the disposal of surplus.
3 Develop and awareness on the procedure of bankruptcy under the recent Bankruptcy Procedure Code.
4 Familiarising the learner with the accounting procedures of liquidation of companies and preparation of various statements required as per the Companies
5 Basic understanding about the preparation of accounts of some special lines of businesses like shipping, hospitals and hotels.
Recommended Text Books
1. Corporate Accounting, A. Mukharjee and M. Hanif, TATA McGraw Hill Co
2. Advanced accountancy, Arulanandam & Raman, Himalya Publishing House
3. Fundamentals of Financial accounting, Nassem Ahmed, Ane books Pvt, Limited
4. Advanced Financial Accounting, R.L. Gupta & Radhaswami, Sultan Chand CO;
5. Advanced Financial Accounting, S.N. Maheswari
6. Advanced Financial Accounting, Paul & Kaur
7. Advanced Financial Accounting, S.P. Jain & K.L. Narang; Kalyani Publishers
1. Study Material for CA IPCC Group I – Accounting
2. Study Material for CA IPCC Group II – Advanced Accounting
3. Students Hand Book on Advanced Accounting, G.Sekar and B. Saravana Prasath,
C. Sitaraman & Co. Pvt Ltd;
4. Advanced Financial Accounting, B.D. Agarwal
Module 1- Accounts of holding companies
- Concept of Holding Company, Subsidiary Company-Consolidated Financial Statements
- Minority Interest-Cost of Control-Pre-acquisition and Post-acquisition –
- Accounting treatment of Dividend declaration by subsidiary company -Issue of Bonus Shares
- Preparation of Consolidated balance sheet- Cross holding.
Module 2- Accounts of Public Utility Undertakings
- Double account system -Features -Difference between Double Account and Single Accounts
- Final Accounts of Electricity Concerns
- Reserves to be created by Electricity Companies – Computation of Reasonable Return and Clear profit and Disposal of Surplus of Electricity Companies.
- Meaning of replacement – Practical problems on replacement of assets
Module 3- Bankruptcy Code 2016
Module 4- Liquidation of Companies
Module 5- Accounting for Specialised Businesses