B.B.M Mangalore University-ACCOUNTING - II

BM-IS3: ACCOUNTING - II
Objective:
To acquaint the- students with accounts of Non-trading concerns, single entry system of book keeping consignment & Partnership accounts.
UNIT I
Final Accounts of Non-trading concerns
Treatment of Revenue & Capital items
Receipts & Payments Accounts. Income & Expenditure Account and
Receipts & Payments Accounts, Income & Expenditure Account and
Balance Sheet from Receipts & Payment Account etc. (other preparations excluded)
12 hrs
UNIT II
Single Entry System
Meaning. Salient features. Merits and defects
Computation of Profit: Net worth method and conversion method
12 hrs
UNIT II [
Consignment Accounts
Meaning of consignment -Important tern1S - Valuation of Consignment Stock and Abnormal loss
Accounting treatment - Journal entries and Ledger Accounts in the books of consignor and consignee.
12 hrs.
UNIT IV
Partnership Accounts
Meaning of Partnership - Essential characteristics - Partnership Deed. Admission. Retirement and Death of a Partner- Joint life Policies and Individual Policies
Dissolution of Partnership firms including insolvency of partners (Excluding Garner Vs. Murray Case)
Gradual realization of assets and Piece - medal distribution of cash (Proportionate Capital Method only) 12 hrs
---------
Total 48 hrs
--
-------
Bo
oks for Reference & Study:
1. Principles and Practice of Accountancy by R.L.Gupta
2. Advanced Accountancy by S.N.Maheshwari & S.K.Maheshwari
3. Advanced Accountancy by Jain & Narang
4. Advanced Accountancy by Basll & Das
5. Accounting II by B.S.Raman