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Financial Accounting Icwai Group 1 Paper 5

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Financial Accounting Icwai Group 1 Paper 5

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Name:Financial Accounting Icwai Group 1 Paper 5

Infohash: 12DD2D761610C643872A9F980D5C8E19BB4C40E6

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Last Updated: 2011-03-22 00:07:52 (Update Now)

Torrent added: 2010-08-19 03:06:34






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Institute of Cost and Works Accountants of India



Welcome to the Cost and Works Accountants of India . We are a premier, dynamic, vibrant professional institution actively associating itself in the industrial and economic development of the nation. The profession places itself at the service of the nation, government, industry, and the society to realise the objectives of a welfare state resulting in the prosperity and the well being of its people - a fact increasingly realised with the opening up of the country's economy and change in the economic scenario of the world. In today's world, the profession of conventional accounting and auditing has taken a back seat and accountants increasingly contribute towards the management of scarce resources like funds, land and apply strategic decisions. This has opened up further scope and tremendous opportunities Cost and Works accountants to shoulder responsibility as Cost and Management Accountants in accordance with new dimensions and vision here in India and abroad. Members of this profession will be the driving force in the team of management while in employment and a key consultant, an effective Cost and Management Auditor and an appropriate advisor in place. This is why Cost Accountants in India are called Management Accountants all over the world. Its our other name. We invite you to browse through our web site. Complete Information on our working, history and professional accredition are all available here.



Financial Accounting



Objectives



· To have working knowledge of accounting concepts, detailed procedures and documentation involved in financial accounting system



· To gain working knowledge of the principles and procedures of accounting and their application to different practical situations.







1. Accounting Conventions and Practices 10%



· Concept

· Depreciation and various methods thereof

· Stock valuation

· Distinction between Capital and Revenue

2. Royalty and Hire Purchase 10%



· Royalty accounting

· Need for hire purchase and installment systems and parties involved.

· Accounting from the point of view various parties.

· Possession and repossession in case of default in payments.

3. Receipts & Payments/ Income & Expenditure Accounts 10%

· Receipts & Payments

· Income & Expenditure Account



4. Partnership Accounting 10%

§ Past adjustments and guarantee

§ Admission & Retirement

§ Assignment of life policy

§ Amalgamation and Sale of Business

§ Dissolution, Insolvency

§ Piecemeal Distribution

5. Branch and Departmental Accounts 10%



§ Branch accounts- Debtors system, Stock & Debtors system, Foreign Branch.

Treatment of shortages.

§ Calculation of net profit of various departments and allocation of expenses on the basis of suitable base.

§ Preparation of common balance sheet.

§ Treatment of Unrealized profit.

6. Accounting Standards 10%



·Applicability of a particular accounting standard.

·Interpretation of various accounting standards.

·Scope of accounting standards.

·Compliance with the Accounting Standards.

7. Joint Stock Companies 20%

· Issues of shares at par, discount & premium, forfeiture, reissue of shares

· Bonus issue and right issue

· Buy back of shares

· Redemption of Preference of shares

· Profit prior to incorporation

· Issue and redemption of debentures

8. Preparation of Company Accounts



· Preparation of Final Accounts under Company Law

9. Accounting services in organizations 10%

· Construction companies ,Project Accounting

· Service sector such as Software, ITES, Telecommunication, Entertainment, Hospital, educational institutions

· Banking , Electricity and Insurance companies

10. Accounting and Interpretation of Financial Statements. 10%





This pdf is the course material of ICWAI Group 1 paper 5. This pdf will helpful for ICWAI students and also who want to know about Financial accounting





pages : 944





Please seed .......... and if u want the pdf of remaining papers please ask me .. i will upload it....





Best of luck ...peace to all

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