Branch Accounts

Welcome Lecture
Introduction to Branch Accounts
Dependent Branches and Features
Accounting for dependents branches
Debtors system in branch accounts
Accounting Entries Debtors System
Dependent Branches Problem 1
Dependent Branches Problem 2
Dependent Branches Problem 3
Dependent Branches Problem 4
Dependent Branches Problem 5
Goods invoiced at SP to Branches & Its Accounting Aspects
Dependent Branches Problem 6 (invoice @ SP)
Dependent Branches Problem 7 (invoice @ SP)
Dependent Branches Problem 8 (invoice @ SP)
Case Study Branch Account Gross Profit
Stock and Debtors system
Problem 9 Stock and Debtors System
Problem 10 Stock and Debtors System
Problem 11 stock and Debtors System
Final Accounts Method
Problem 12 Branch Trading & P&L A/c (cost)
Problem 13 Branch Trading A/c (Invoice Price)
Problem 14 Branch Trading P&L A/c (Invoice Price)
Case Study Debtors method and Final Accounts
Problem 15 on stock and Debtors system
Problem 16 Stock and Debtors System
Case Study Stock & Debtors Method
Whole Sale Branch system
Problem 17 Whole Sale Branch system
Problem 18 Whole Sale Branch system
Problem 19 Whole Sale Branch system
Independent Branches Introduction
Independent Branches Accounting Entry Part 1
Independent Branches Accounting Entry Part 2
Independent Branches Problem 20
Independent Branches Problem 21
Independent Branches Problem 22
Independent Branches Problem 23
Incorporation of Branch Trial Balance
Incorporation of Branch Trial Balance Problem 24
How to Close Books of Branches
Closure of Branch books Problem 25
Closure of Branch books Problem 26
Closure of Branch books Problem 27
Integral and Non Integral Foregin Branch
Indicators of Non Integral Foreign Operation
Techniques for Foreign Currency Translation Integral Foreign Operation
Techniques for Foreign Currency Translation Non Integral Foreign Operation
Case 1 Integral Foreign Operation Trial Balance
Case 2 Integral Foreign Operation P&L and Balance Sheet
Quiz on Branch Accounts

Departmental Accounts

Departmental Accounts Introduction
Apportionment of Expenses
Departmental Accounts Problem 1
Departmental Accounts Problem 2
Inter Departmental Transfers
Inter Departmental Transfers Problem 3
Inter Departmental Transfers Problem 4
Inter Departmental Transfers Problem 5
Inter Departmental Transfers Problem 6
Departmental Accounts Problem 7
Departmental Accounts Problem 8
Departmental Accounts Problem 9
Case Study Departmental Trading and P&L Account
Case Study Departmental Trading and P&L Account (with Stock Adjustment and Profit)

Self Balancing Ledger

Introduction to Self Balancing Ledger System
Self Balancing Ledger Problem 1
Self Balancing Ledger Problem 2
Self Balancing Ledger Problem 3
Contra Transactions
Entries to be Passed in Credit purchase
Self Balancing Ledger Problem 4
Transfer entries
self Balancing Ledger Problem 5
self Balancing Ledger Problem 6
self Balancing Ledger Problem 7

Accounting for Consignment

Consignment Accounting Introduction
Accounting Aspects in Consignment
Accounting Entries in books of consignor
Consignment Accounting Problem 1
Consignment Accounting Problem 2
Consignment Accounting Problem 3
Accounting Entries in the Book of Consignee
Consignment Account Problem 4
Consignment Account Problem 5 (Goods Lost in Fire)
Consignment Account Problem 6
Normal Loss
Consignment Problem 7 with Normal Loss
Consignment Problem 8 Computation of Cost and Invoice Price
Consignment Problem 9 Computation of Profit Percentage on Cost and Selling Price
Consignment Problem 10 Computation of Invoice Value of Goods Sent Out
Consignment Problem 11 Computation of Abnormal Loss
Consignment Problem 12 With Del Credre Commission and Bad Debts
Consignment Problem 13 Computation of Commission
Consignment Problem 14 Computation of Commission
Consignment Problem 15 Computation of Stock Reserve

Accounting for Joint Venture

Joint Venture Introduction
Separate set of Books Method
Problem 1 Separate set of Books Method
Problem 2 Separate set of Books Method
No Separate Set of Books Maintained
Problem 1 No Separate Set of Books Maintained
Problem 2 No Separate Set of Books Maintained
Memorandum Joint Venture A/c Method
Problem 1 Memorandum Joint Venture A/c Method

Accounting for Investments

Investment Accounting
Problem 1 Investment Accounting
Problem 2 Investment Accounting
Problem 3 Investment Accounting
Accounting for Fixed Investment Securities
Problem 4 Accounting for Fixed Investment Securities
Problem 5 Accounting for Fixed Investment Securities

Accounting for Insurance Claims

Insurance Claim Problem 1
Insurance Claim Problem 2
Insurance Claim Problem 3
Insurance Claim Problem 4
Insurance Claim for loss of Profit Part 1
Insurance Claim for loss of Profit Part 2
Insurance Claim for loss of Profit Problem 1
Insurance Claim for loss of Profit Problem 2

Accounting for Bills of Exchange

Introduction to Bills of Exchange
Accounting Aspects in Bills of Exchange
Methods of Drawing Bills of exchnage
Computation of Bill Due Date
Endorsement of Bill of Exchange
Problem on Endorsement of Bill of Exchange
Discounting of Bill
Problem on Discounting of Bill
Retirement of Bill
Problem on Retirement of Bill
Dishonour of Bill
Problem on Dishonour of Bill
Dishonour of Bill - Different Scenarios
Renewal of Bill of Exchange
Problem 1 on Renewal of Bill of Exchange
Problem 2 on Renewal of Bill of Exchange
Insolvency of Customer
Problem on Insolvency of Customer

Accounting for Sale of Goods on Approval / Return Basis

Introduction to Sale on Approval or Return Basis
Method I Sale on Approval and Problem
Method II Sale on Approval and Problem
Method I Sale on Approval and Problem 2
Method I Sale on Approval and Problem 3
Method I Sale on Approval and Problem 4
Method I Sale on Approval and Problem 5
Method I Sale on Approval and Problem 6

Depreciation Accounting

Depreciation Introduction
Straight Line Method of Depreciation
Problem 1 Straight Line Method of Depreciation
Problem 2 Straight Line Method of Depreciation
Machine Hour Depreciation Method and Problem
Production Units Method of Depreciation and Problem
Depletion Method of Depreciation and Problem
Written Down Value Method

Average Due Date

Average Due Date Introduction
Due Date
Types of Problems
Average Due Date Problem 1
Average Due Date Problem 2
Average Due Date Problem 3
Average Due Date Problem 5

Account Current

Introduction to Account Current
Account Current Problem 1
Product Method
Account Current Problem 2 Product Method
Account Current Problem 3 Forward Method
Account Current Problem 4 Backward Method
Account Current Problem 5 Interest Method
Account Current Problem 6 Product Method
Red Ink Interest Method
Account Current Problem 7 Red Ink Interest Method
Account Current Problem 8 Different Interest Rates

Accounting For Construction Contract

Construction Contract and its Type
Objectives of Accounting for Construction Contract
Applicability of AS7
Measurement of Contract Revenue
Contract Costs - Inclusion and Exclusions
Basic Principles of Recognition of Revenue and Expenses
Composition of Contract Revenue
Provision for Expected Losses
Effect of change in estimate in Construcition Contract
Accounting Disclosures by Construction Contractors as per AS 7
Contract Accounting Case Study 1
Contract Accounting Case Study 2
Contract Accounting Case Study 3

Revenue Recognition

Revenue Recognition - Introduction
Item excluded in Revenue Definition
Timing of Revenue Recognition
Conditions of Revenue Recognition
Revenue Recognition when goods are sold subject to conditions
Revenue from Rendering of service
Special Treatment of Revenue Recognition
When Revenue from sale of goods can berecognised?
Treatment of interdepartmental Transfer
Revenue Recognition Case Study 1
Revenue Recognition Case Study 2
Revenue Recognition Case Study 3
Revenue Recognition Case Study 4
Revenue Recognition Case Study 5
Revenue Recognition Case Study 6
Revenue Recognition Case Study 7
Revenue Recognition Case Study 8

Accounting for Computer Software

Introduction to Computer Software Accounting
Software Acquired for Internal Use
Internally Generated Computer Software

Accounting for Banking Companies

Introduction -Banking
Banking, Banking Companies & Exceptions
Important Provisions of Banking Regulation Act
Important Provisions of Banking Regulation Act Part 2
Banks Book Keeping System
Case 1 Accounting Treatment of Interest Income - Bank Loans
Case 2 Accounting Treatment of Interest Income - Bank Loans
Case 3 Accounting Treatment of Interest Income - Bank Loans
Case 4 Computation of Provision
Case 5 Computation of Provision
Case 6 Computation of Provision
Case 7 Computation of Provision
Case 8 Computation of Provision
Case 9 Computation of Provision

Accounting For Hospitals

Introduction Accounting for Hospitals
Expenses Recognitionby Hospitals
Allocation of Revenue
Realisation of Revenue

Accounting for Royalties

What is Royalty?
What is Minimum Rent / Dead Rent in Royalty?
Short workings / Excess Workings and Ground Rent
Recoupment of Shortworkings
Accounting treatment of Shortworkings
Accounting entries in the books of lessee / licencee
Case Study 1 - Royalty Account - with Shortworking Adjustments
Case Study 2 - Royalty Account -with Shortworking Adjustments

Accounting for Hire Purchase Transactions

Hire Purchase and Installment sale
situation I - When Rate of Interest, Cash Price & Interest given
Situation II-When Rate of Int. & Inst. given but cash price not given
Situation III-When only Inst. are given but cash price & rate of Int. not given
Situation IV-Ref. to annuity table,rate of Int.&inst. given but not cash price
Accounting Treatment in Hire Purchaser Books
Accounting effect of HP default and Repossession
Case Study - Hire Purchase Default and Repossession
Case Study - Hire Purchase Default and Partial Repossession

Inventory Valuation

Introduction to Inventory
Significance of Inventory Valuation
Valuation of Inventory
Components of Cost
Exclusion from Cost
Net Realisable Value
Techniques for Inventory Valuation
Specific Identification Method
FIFO Method of Valuation
LIFO Method of Valuation
Case Study for FIFO Method
Case Study FIFO Method
Simple Average Price Method
Case Study Average Price Method
Weighted Average Price Method
Case Study on Simple Average and Weighted Average Method
Case Study Weighted Average Price Method
Case Study Weighted Average Price Method Inventory Ledger
Retail or Adjusted Selling Price Method
Case Study on Retail or Adjusted Selling Price Method
Case Study 1 Adjusted Selling Price Method
Case Study 2 Adjusted Selling Price Method

Final Accounts of Sole Proprietors

Introduction to Final Accounts of Sole Proprietors
Introduction to Final Accounts of Non Manufacturing Entities
Income Statement and Position Statement
Preparation of Final Accounts - fundamental aspects
Inter-relationship between two statements
Matching Principle
Exceptions to Matching Principle
Trading Account
Trading Account Items
Closing entries in Trading Account
Trading Account Case Study 1
Trading Account Closing Entries Case Study 2
Profit and Loss Account
Treatment of Specific items
Closing entries related to Profit and Loss account
Profit and Loss Account Case Study 2
Adjustments in Final Accounts
Provision for Doubtful Debts Case Study 4
Other Adjustments in Final Accounts
Abnormal Loss of Inventory by accident or fire
Goods Sent on Approval Basis
Goods used other than for Sale
Accounting Entry for Sales Tax
Commission based on Profit
Preparation of Final Accounts - Case Study 5
Arrangements of Assets and Liabilities
Classifications of Assets and Liabilities
Preparation of Balance Sheet - Case Study 6
Preparation of Revised P&L and Balance Sheet - Case Study 7
Determination of Outstanding Salaries and related adjustments
Opening Entry and Case Study
Provisions and Reserves
Provisions and Reserves Case Study 8
Final Accounts of Manufacturing Entities - Introduction
Manufacturing Cost
Direct Manufacturing Expenses
Indirect Manufacturing Expenses
By Products
Structure of Manufacturing Account
Manufacturing Account Case Study 8
Manufacturing Account Case Study 9

Accounting for Not-for-Profit Organizations

Introduction to Accounting for Non Profit Organisations
Characteristics of Not-for-Profit Organisation
Accounting Records of Not-for-Profit Organisations
Nature of Receipts and Payment Account
Case 1 Receipts and Payment Account
Income and Expenditure Account
Main Sources of Income
Difference between Receipts and Payments Account
Preparation of Income and Expenditure Account from Receipts and Payments Account
Preparation of Balance Sheet
Peculiar Items and its Accounting Treatment
Case 2 Subscription Accounting in Income and Expenditure Account
Case 3 Salaries Accounting in Income and Expenditure Account
Accounting treatment of Donations
Accounting treatment of Entrance and Admission Fees
Accounting for Subscriptions
Accounting for life members fees
Case 4 Preparation of Income and Expenditure Account and Balance Sheet
Case 5 Preparation of Income and Expenditure Account and Balance Sheet
Case 6 Preparation of Receipts and Payment Account and Subscription Account
Problem-1 Receipts and Payments
Problem -2 Subscription and Related Ledgers
Problem -3 Salary Account and Related Ledgers

Advanced Partnership Accounts

Partnership and Appropriation of Profits
Fixed Capital and Fluctuating Capital
Appropriation of Profits
Fixed Capital and Fluctuating Capital Format
Case 1 Fixed and Fluctuating Capital Method
Difference between Fixed Capital and Fluctuating Capital Method
Case 2 Fluctuating Capital Method
Case 3 Fixed Capital Method
Accounting Treatment for Interest on Capital
Case 4 Interest on Capital
Calculation of Interest on Drawings
Case 1 Interest on Drawings
Case 2 Comprehensive Case Study Interest on Drawings and other adjustments
Case 3 Interest on Drawings uniformly at the end of every quarter
Case 4 Interest on Drawings and Adjustment Entry
Case 5 Adjustment for Wrong Distribution of Profits
Guaranteed Partnership - Guarantee by One Partner
Case 6 Guarantee by One Partner
Guarantee given by Firm
Case 7 Guarantee by Firm
Case 8 Cross Guarantee
Case 9 Guarantee by One Partner
Case 10 Guarantee with retrospective effect
Adjustments at the time of admission of new partner
Adjustments regarding Profit Sharing Ratio and Case Study 11
Adjustments regarding Profit Sharing Ratio and Case Study 12
Sacrifice only by few Partners and New Profit Sharing Ratio Case Study 13
Adjustment regarding Valuation of Assets and Liabilities - Revaluation Method
Adjustment regarding Valuation of Assets & Liabilities-Memorandum Revaluatio Mtd
Goodwill
Various Scenarios for Accounting treatment of Goodwill
Valuation methods of Inherent Goodwill
Average Profits Method
Super Profits Method
Capitalization of Profits Method
Annuity Method
Valuation of Goodwill Case Study 14
Valuation of Goodwill Super Profit Method Case Study 15
New Partner cannot pay premium and Goodwill account is raised Case 16
New Partner pays for Goodwill but Goodwill appearing in Balance Sheet in Full Va
Premium for Goodwill Paid Privately Case 18
Premium for Goodwill in True Sense
Adjustment for Accumulated Profits / Losses
Adjustment Regarding Capital
Case 19 Adjustment Regarding Capital
Case 20 Adjustment Regarding Capital
Case 21 Adjustment Regarding Capital
Case 22 Adjustment Regarding Capital using Memorandum Revaluation A/c
Case 23 Adjustment Regarding Capital
Retirement of Partner
Case 24 Retirement of Partner
Rights to Share of Profit after Retirement
Case 25 Right to Share of Profit after Retirement
Case 26 Right to Share of Profit after Retirement
Death of Partner and Accounting Implications
Accounting treatment for Joint Life Policy
Case 27 Accounting treatment for JLP
Dissolution of Partnership Firm
Settlement of Accounts on Dissolution
Realization of Assets and Liabilities
Settlement of Dues of the Partners
Case 28 Settlement of Dues to the Partners
Case 29 Settlement of Dues to the Partners
Insolvency of Partner
Highest Relative Capital Method
Case 1 Highest Relative Capital Method
Case 2 Highest Relative Capital Method
Case 3 Highest Relative Capital Method

Amalgamation

Amalgamation Introduction
Difference between Amalgamation Absortpion and External Reconstruction
Types of Amalgamation
Purchase Consideration
Case 1 Purchase Consideration
Case 2 Purchase Consideration
Methods of Accounting for Amalgamation
Case 3 Amalgamation in nature of Merger
Case 4 Amalgamation in nature of Purchase
Case 5 Purchase Consideration
Case 6 Purchase Consideration
Journal Entries to be passed in Books of Selling Company
Journal Entries to be passed in Books of Buying Company
Intercompany Owings in Amalgamation
Intercompany Owings - Adjustment in Value of Stock in Amalgamation
Case 7 Intercompany Owings and Amalgamation
Case 8 Amalgamation Closing Ledger in Selling Companies
Case 9 Amalgamation Closing Ledger in Buying Company

Profit or Loss Pre and Post Incorporation

Introduction to Profit or Loss Pre and Post Incorporation
Methods of Computing Profir or Loss Prior to in Incorporation
Basics of Apportionment of Pre and Post Incorporation Items
Case 1 Time Ratio and Sales Ratio
Case 2 Preparation of Balance Sheet involving acquistion during mid of the year
Case 3 Apportionment of Expenses and calculate Pre and Post Incorportion Profits
Case 4 Apportionment of Cost and Revenue between Pre and Post Incorp Periods
Case 5 Allocation of Expenses & Calculation of Pre and Post Incorporation Profit

Internal Reconstruction

Introduction to Internal and External Reconstruction
Difference between Internal and External Reconstruction
Methods of Internal Reconstruction
Alteration of Share Capital
Conversion of fully paid shares into stock and vice versa
Variation of Share holders Rights
Reduction of Share Capitals
Compromise / Arrangements
Surrender of Shares
Entries in case of internal Reconstruction
Case 1 Alteration of Share Capital
Case Study 2 Conversion of Fully Paid Shares into Stock and Stock into Shares
Case Study 3 Journal Entries for Scheme of Reconstruction
Case Study 4 Journal Entries & Balance Sheet for Scheme of Reconstruction Part 1
Case Study 4 Journal Entries & Balance Sheet for Scheme of Reconstruction Part 2

Financial Statements of Companies

What is Company?
Different Types of Companies
Government Company
Private Company and Public Company
Holding Company and Subsidiary Company
Maintenance of Books of Accounts
Statutory Books
Annual Return
Final Accounts
Managerial Remuneration and Sec 197 & 198
Schedule V of Companies Act 2013
Sec I & II of Part II of Schedule V Companies Act 2013
Sec III of Part II of Schedule V Companies Act 2013
Sec IV of Part II of Schedule V Companies Act 2013
Effective Capital
Section V Remuneration payable to a Managerial Person in two companies
Ascertainment of Profit for Managerial Remuneration
Divisible Profits, Dividend and Provision for Depreciation
Declaration and Payment of Dividend
Transfer to Reserves
Capital Reserves
Declaration of Dividend
Dividend on Preference and Partly Paid Shares
Payment of Dividend
Dividend Distribution Tax - Meaning, Accounting, Disclosure and Presentation

Ind AS 1 Presentation of Financial Statements

Introduction to Ind AS 1
Scope of Ind AS 1
What are General Purpose Financial Statements?
What are complete set of Financial Statements?
Presentation of True and Fair View and its compliance with Ind AS
Whether departure from requirements of Ind AS is permissible / possible?
Case 1 Deviation from Ind AS
Going Concern Assumption
Going Concern Case Study
Accrual Basis of Accounting
Materiality and Aggregation
Offsetting with Case Study
Frequency of Reporting
Comparative Information in Financial Statements
Change in Accounting Policies, retrospective restatement or reclassification
Consistency of Presentation of Financial Statements
Structure and Content of Financial Statements as per Ind AS 1
Balance Sheet minimum requirements as per Ind AS 1
Distinction between Current and Non Current Items
What are Current Assets (as per Ind AS 1) ?
Current Asset Examples
What is Operating Cycle (as per Ind AS 1)?
What are Current Liabilities? (as per Ind AS 1)
Classification of liability in case of refinance / rollover
Case Study on Classification of liability in case of refinance / rollover
Classification of Liability in case of breach of provision of long term contract
Case study on Classification of liability in case of breach of provision of long
Case Study 1 on Current Asset Classification as per Ind AS 1
Case Study 2 on Current Asset Classification as per Ind AS 1
Case Study 3 on Current Asset Classification as per Ind AS 1
Electricity Deposit - Current Asset or Non Current Asset?
Tender Deposit / EMD - Current or Non Current?
GST Deposit in dispute - Current or Non Current?
Income received in advance - Current or Non Current?
Information required io be presented in Balance Sheet
Information required io be presented in Statement of Profit and Loss

Computerised Accounting System

Introduction to Computerized Accounting System
Significance of Computerized Accounting System'
Codification and Grouping of Accounts
Maintaining the Hierarchy of Ledgers
Accounting Packages
Spread sheet Advantages and Disadvantages
Prepackaged Accounting Softwares
Advantages and Disadvantages of Prepackaged Accounting Software
Consideration for selection of Pre-packaged Accounting Software

Accounting of Insurance Companies

Introduction to Insurance and types of Policies
Principles of Insurance
Difference between Life and Non Life Insurance
Important Provisions of Insurance Act 1938
Amendments by Insurance Regulatory and Development Authority Act 1999
Books to be maintained by Insurance Companies
Important Provisions of LIC Act 1956
Annuity Business, Surrender Value and Paid Up Policy
Bonus and Bonus in Reduction of Premium
Claims and Accounting Aspects
Commission, Re-Insurance, Double Insurance and Ceding Company
Life Assurance Fund
Valuation Balance Sheet
Case Study on Life Assurance Fund
Case Study 1 on Valuation Balance Sheet
Case Study 2 on Valuation Balance Sheet

Accounts from Incomplete Records

Introduction to Single Entry System
Features of Single Entry System
Types of Single Entry
Techniques of obtaining complete accounting information
Derivation of Information from Cash Book
Analysis of Sales Ledger & Purchase Ledger
Distinction between Business Expenses & Drawings
Fresh Investment by Proprietors / Partners
Ascertainment of Profit by Capital Comparison - Single Entry System
Methods of Capital Comparison
Statement of Affairs Format for Ascertaining Capital Position
Difference between Statement of Affairs and Balance Sheet
Statement of Affairs & Profit Computation Case 1
Statement of Affairs & Profit Compuation Case 2
Suppressed Income Case 3
Case Study - Prepare Trading P&L and Balance Sheet

Liquidation of Companies

Liquidation / Winding Up of Company
Circumstance for Winding Up Company by Tribunal
Petition for Winding Up to Tribunal
Voluntary Winding Up (Sec 59 of Insolvency & Bankruptcy Code 2016)

Issue of Bonus Shares

Issue of Bonus Shares - An Introduction
Bonus Issue - Companies Act related provisions
Case study - Journal Entries after bonus issue (Part 1/2)
Case study - Extract of Balance Sheet after bonus issue (Part 1/2)

Q&A Compedium

How to arrive at value of unfinished goods

Final Section

Bonus Lecture

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The syllabus

Branch Accounts

Departmental Accounts

Self Balancing Ledger

Accounting for Consignment

Accounting for Joint Venture

Accounting for Investments

Accounting for Insurance Claims

Accounting for Bills of Exchange

Accounting for Sale of Goods on Approval / Return Basis

Depreciation Accounting

Average Due Date

Account Current

Accounting For Construction Contract

Revenue Recognition

Accounting for Computer Software

Accounting for Banking Companies

Accounting For Hospitals

Accounting for Royalties

Accounting for Hire Purchase Transactions

Inventory Valuation

Final Accounts of Sole Proprietors

Accounting for Not-for-Profit Organizations

Advanced Partnership Accounts

Amalgamation

Profit or Loss Pre and Post Incorporation

Internal Reconstruction

Financial Statements of Companies

Ind AS 1 Presentation of Financial Statements

Computerised Accounting System

Accounting of Insurance Companies

Accounts from Incomplete Records

Liquidation of Companies

Issue of Bonus Shares

Q&A Compedium

Final Section

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