Advanced Financial Accounting NEP Syllabus – B-COM 2nd Semester – Bangalore City University

June 3, 2022 By techwithin 0

Advanced Financial Accounting – B-COM 2nd Semester NEP Syllabus 2021 Bangalore City University

Module-1: Insurance Claims for Loss of Stock

Meaning, Need and Advantages of Fire Insurance-Special terminologies in Fire

Insurance Claims – Insurer, Insured, Premium, Salvage, Insurance Policy, Sum

Assured, Under Insurance, over insurance Average Clause, Claim. Problems on

Ascertainment of Fire Insurance Claim including problems on abnormal line of


Module – 2: Hire Purchase Accounting

Meaning of Hire Purchase and Installment Purchase System- difference between

Hire Purchase and Installment Purchase – Important Definitions – Hire Purchase

Agreement – Hire Purchase Price – Cash Price – Hire Purchase Charges – Net Hire

Purchase Price – Net Cash Price – Calculation of Interest – Calculation of Cash

Price – Journal Entries and Ledger Accounts in the books of Hire Purchaser and

Hire Vendor (Asset Accrual Method only).

Module -3: Departmental Accounts

Meaning and Features of Departmental Undertaking-Examples of Department

Specific Expenses and Common Expenses -Need and Bases of Apportionment of

Common Expenses-Preparation of Statement of Trading and Profit and Loss in

Columnar form, Statement of General Profit and Loss and Balance Sheet – Simple

problems involving Inter Departmental Transfers at Cost Price (vertical form).

Module-4: Branch Accounts

Meaning of Branch Accounts -Objectives and Advantages of Branch Accounting

Types of Branches – Meaning and features of Dependent Branches, Independent

Branches and Foreign Branches-Methods of maintaining books of accounts by the

Head Office –Debtors System- ascertainment of Profit or Loss of Branch under

Debtors System – Supply of goods at Cost Price and supply of goods at Invoice


Module -5: Conversion of Single-Entry System into Double Entry System

Single entry system- Meaning – Features – Merits – Demerits – Types. Conversion

into Double Entry system – Need for Conversion – Preparation of Statement of

Affairs – Cash book – Memorandum Trading Account – Total Debtors Account –

Total Creditors Account – Bills Receivable Account – Bills Payable Account –

Statement of Trading and Profit & Loss and Balance Sheet.

Skill Development Activities:

1. Identify the procedure & documentations involved in the insurance claims.

2. Collect hire purchase agreement and draft dummy hire purchase agreements

with imaginary figures.

3. Identify the common expenditures of a departmental undertaking

4. Collect the procedure and documentations involved in the establishment of

various branches.

5. Visit any sole proprietor firm and identify the steps involved in the conversion

of single entry into double entry system.

6. Any other activities, which are relevant to the course.