Objective
1. To acquire the ability to apply specific Accounting Standards and legislations to different transactions and events and in preparation and presentation of financial statements of business entities
2. To understand and apply financial reporting and regulatory requirements of Banking Companies and NBFCs.
Contents
1. Application of Accounting Standards
AS 4: Contingencies and Events occurring after the Balance Sheet Date
AS 5: Net Profit or Loss for the period, Prior period items and changes in Accounting Policies
AS 7: Construction Contracts
AS 9: Revenue Recognition
AS 14: Accounting for Amalgamations
AS 17: Segment Reporting
AS 18: Related Party Disclosures
AS 19: Leases
AS 20: Earnings per share
AS 22: Accounting for Taxes on Income
AS 24: Discontinuing Operations
AS 26: Intangible Assets
AS 29: Provisions, Contingent Liabilities and Contingent Assets
2. Special Aspects of company accounts
(i) Accounting for employee stock option plans
(ii) Buy back of securities
(iii) Equity shares with differential rights
3. Reorganization and liquidation of companies
(i) Accounting for amalgamation (excluding inter-company holding) and reconstruction
(ii) Accounting involved in liquidation of companies
4. Banking companies and Non-Banking Financial companies and regulatory requirements thereof
5. Consolidated Financial Statements
Concept of consolidation and simple problems on Consolidated Financial Statements with single subsidiary (excluding problems involving acquisition of interest in subsidiary at different dates; Different reporting Dates of Holding and Subsidiary; Disposal of a subsidiary and foreign subsidiaries.)