Course Contents

1. Departmental Accounts: departmental accounts- An introduction, accounting system for maintaining departmental accounts, advantages of departmental accounts, profit & loss account, allocation of departmental expenses, inter departmental transfer-cost or market price basis, accounting treatment of unsold stock with the departments. 2. Construction Contract Accounts: Scope and definition, contract revenue and contract cost, recognition of contract, revenue and costs, recognition of expected losses, changes in estimates, disclosure requirements, practical/numerical illustration to understand all necessary provisions associated. 3. Accounting for Leasing, Scope and definition, classification of leases, accounting treatments in the books of lessor and lessee, disclosure requirements, practical/numerical illustration to understand all necessary provisions associated. 4. Mergers, Acquisitions and Changes in Financial Structures, Business Combination.

Course Synopsis

This course is designed to serve the needs of modern Accounting Principle, procedure and methods that are applied in preparation and presentation of Financial Statements and the proper uses that can be made of financial data. The course is intended to taught with reference to IFRS

Course Learning Outcomes

After completion of this course students will be able to: • Deal with accounting issues of amalgamation, absorption and reconstruction • Application and selection of accounting techniques and procedures to specific circumstances like valuation of good will and share, joint venture and construction contracts.