Advanced Accountancy I

Advanced Accountancy I is designed to provide an in-depth understanding of complex accounting concepts, systems, and practices used in business organizations. The course emphasizes the role of accounting as an information system, the application of accounting standards, and the preparation and analysis of specialized accounts such as royalty, hire purchase, branch, departmental, and insurance claim accounts. It aims to develop analytical and practical skills necessary for accurate financial reporting and decision-making in diverse business contexts.

 

Course Objectives

• To understand accounting as an information system and its significance for various users.
• To gain knowledge of accounting standards, their types, benefits, and challenges in standard setting, with a focus on the Indian context.
• To learn the accounting treatment of royalty transactions, hire purchase, and instalment systems.
• To understand the preparation of branch and departmental accounts and the allocation of expenses.
• To acquire skills in preparing insurance claims and investment accounts.