UNIT 3: JOINT VENTURE ACCOUNTS 08 HOURS Meaning, Definitions and Features of Joint Venture-Differences between Joint Venture and Partnership-Accounting for Joint Ventures – Preparation of Joint Venture A/c, Joint Bank A/c and Co-Venturer’s A/c UNIT 4: ROYALTY ACCOUNTS 12 HOURS Meaning and Definition of Royalty-Special terminologies in Royalty Accounts – Landlord, Tenant, Output, Minimum Rent/Dead Rent, Short Workings, Recoupment of Short Workings.
Small Problems on Commission and Valuation of Closing Stock-Consignment Accounts in the books of Consignor – Problems on preparation of Consignment A/c, Consignee A/c and Goods Sent on Consignment A/c in the books of Consignor. Problems on preparation of Branch A/c in the books of Head Office under Cost Price Method and Invoice Price Method UNIT 2: CONSIGNMENT ACCOUNTS 10 HOURS Meaning, Definitions and Features of Consignment-Parties in Consignment – Consignor and Consignee-Differences between Consignment and Ordinary Sale-Special terminologies in Consignment Accounts – Proforma Invoice, Invoice Price, Account Sales, Non-recurring Expenses, Recurring Expenses, Ordinary Commission, Overriding Commission, Del Credere Commission, Normal Loss, Abnormal Loss. 2.3: ADVANCED FINANCIAL ACCOUNTING OBJECTIVE : The objective of this course is to help the students acquire knowledge, skills and acumen of accounting treatment in respect of different categories of business undertakings and special type of business activities UNIT 1: BRANCH ACCOUNTS 14 HOURS Meaning of Head Office, Branch, Branch Accounts and Branch Accounting-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 – Meaning and Features of Debtors System, Stock & Debtors System, Wholesale Branch System and Final Account System-Methods of ascertainment of Profit or Loss of Branch under Debtors System – Cost Price Method and Invoice Price Method.