Preview UGC NET - COMMERCE - UNIT2 (ACCOUNTING & AUDITING)

Chapter 1 - Basic Accounting Principles ; Concepts and Postulates

Accounting Principles

2370

Basic Assumptions in Accounting

21 Basic Assumptions in Accounting

Basic Concepts in Accounting

22 Basic Concepts in Accounting

Fundamental Principles of Accounting

23 Fundamental Principles of Accounting

Chapter 2- Partnership Accounts : Admission ,Retirement,Death ,Dissolution and Insolvency of Partnership Firms

Adjustments at the time of admission of new partner

32 CFA32

Adjustments regarding Profit Sharing Ratio and Case Study 11

33 CFA33

Adjustments regarding Profit Sharing Ratio and Case Study 12

34 CFA34

Sacrifice only by few Partners and New Profit Sharing Ratio Case Study 13

35 CFA35

Adjustment regarding Valuation of Assets and Liabilities - Revaluation Method

36 CFA36

Adjustment regarding Valuation of Assets & Liabilities-Memorandum Revaluatio Mtd

37 CFA37

Goodwill

38 CFA38

Various Scenarios for Accounting treatment of Goodwill

39 CFA39

Valuation methods of Inherent Goodwill

40 CFA40

Average Profits Method

41 CFA41

Super Profits Method

42 CFA42

Capitalisation of Profits Method

43 CFA43

Annuity Method

44 CFA44

Valuation of Goodwill Case Study 14

45 CFA45

Valuation of Goodwill Super Profit Method Case Study 15

46 CFA46

New Partner cannot pay premium and Goodwill account is raised Case 16

47 CFA47

New Partner pays for Goodwill but Goodwill appearing in Balance Sheet in Full Va

48 CFA48

Premium for Goodwill Paid Privately Case 18

49 CFA49

Premium for Goodwill in True Sense

50 CFA50

Adjustment for Accumulated Profits / Losses

51 CFA51

Adjustment Regarding Capital

52 CFA52

Case 19 Adjustment Regarding Capital

53 CFA53

Case 20 Adjustment Regarding Capital

54 CFA54

Case 21 Adjustment Regarding Capital

55 CFA55

Case 22 Adjustment Regarding Capital using Memorandum Revaluation A/c

56 CFA56

Case 23 Adjustment Regarding Capital

57 CFA57

Retirment of Partner

58 CFA58

Case 24 Retirment of Partner

59 CFA59

Rights to Share of Profit after Retirment

60 CFA60

Case 25 Right to Share of Profit after Retirement

61 CFA61

Case 26 Right to Share of Profit after Retirement

CFA62

Death of Partner and Accounting Implications

63 CFA63

Accounting treatment for Joint Life Policy

64 CFA64

Case 27 Accounting treatment for JLP

65 CFA65

Dissolution of Partnership Firm

66 CFA66

Settlement of Accounts on Dissolution

67 CFA67

Realisation of Assets and Liabilities

68 CFA68

Settlement of Dues of the Partners

69 CFA69

Case 28 Settlement of Dues to the Partners

70 CFA70

Case 29 Settlement of Dues to the Partners

71 CFA71

Insolvency of Partner

72 CFA72

Highest Relative Capital Method

794 cfa794

Case 1 Highest Relative Capital Method

795 cfa795

Case 2 Highest Relative Capital Method

769 cfa769

Case 3 Highest Relative Capital Method

797 cfa797

Chapter 3- Corporate Accounting : Issue, Forfeiture and reissue of Shares; Liquidation of Companies ; Acquisition , Merger, Amalgamation and Reconstruction of Companies

Introduction to Internal and External Reconstruction

613 CFA613

Difference between Internal and External Reconstruction

614 CFA614

Methods of Internal Reconstruction

615 CFA615

Alteration of Share Capital

616 CFA616

Conversion of fully paid shares into stock and vice versa

617 CFA617

Variation of Share holders Rights

625 CFA625

Reduction of Share Capitals

626 CFA626

Compromise / Arrangements

627 CFA627

Surrender of Shares

628 CFA628

Entries in case of internal Reconstruction

629 CFA629

Case 1 Alteration of Share Capital

618 CFA618

Case Study 2 Conversion of Fully Paid Shares into Stock and Stock into Shares

621 CFA621

Case Study 3 Journal Entries for Scheme of Reconstruction

622 CFA622

Case Study 4 Journal Entries & Balance Sheet for Scheme of Reconstruction Part 1

623 CFA623

Case Study 4 Journal Entries & Balance Sheet for Scheme of Reconstruction Part 2

624 CFA624

Amalgamation Introduction

73 CFA73

Difference between Amalgamation Absortpion and External Reconstruction

74 CFA74

Types of Amalgamation

75 CFA75

Purchase Consideration

76 CFA76

Case 1 Purchase Consideration

77CFA77

Case 2 Purchase Consideration

78 CFA78

Methods of Accounting for Amalgamation

79 CFA79

Case 3 Amalgamation in nature of Merger

80 CFA80

Case 4 Amalgamation in nature of Purchase

81 CFA81

Case 5 Purchase Consideration

82 CFA82

Case 6 Purchase Consideration

83 CFA83

Journal Entries to be passed in Books of Selling Company

CFA84

Journal Entries to be passed in Books of Buying Company

85 CFA85

Intercompany Owings in Amalgamation

86 CFA86

Intercompany Owings - Adjustment in Value of Stock in Amalgamation

87 CFA87

Case 7 Intercompany Owings and Amalgamation

CFA88

Case 8 Amalgamation Closing Ledger in Selling Companies

121 CFA121

Case 9 Amalgamation Closing Ledger in Buying Company

140 CFA140

Liquidation / Winding Up of Company

1129 cfa1129

Circumstance for Winding Up Company by Tribunal

1130 cfa1130

Petition for Winding Up to Tribunal

1131 cfa1131

Voluntary Winding Up (Sec 59 of Insolvency & Bankruptcy Code 2016)

1144 cfa1144

Introduction

1 Intro

Features of Company

2 Features of Company

Types of Companies

3 Types of Companies

Difference between Partnership and Company

4 Partn CO Differ

Classes of Share Capital

5 Classes of SC

Classification of Share Capital

6 CLASIFICATION OF SC

Issue of Shares

7 ISSUE OF SHARES

Allotment of Shares

8 ALLOTMENT OF SHARES

Issue of Shares at Par

9 ISSUE OF SHARES AT PAR

Procedure for allotment of shares

10 PROCEDURE ALLOT OF SHARE

Calls in Arrears

11 CALLS IN ARREARS

CALLS

12 CALLS

Calls in Advance

13 CALLS IN ADVANCE

Issue of Shares at Premium

14 ISSUE OF SHARE AT PREMIUM

Issue of Shares at Discount

15 SHARE ISSUE DISCOUNT

Sweat Equity Shares

16 SWEAT EQUITY

Employees Stock Option Scheme

17 ESOS

Forfeiture of shares

18 Forfeiture os shares

Reissue of Forfeited Shares

19 Reissue of Forfeited Shares

Forfeiture Example

20 Forfeiture Example

Forfeiture Example 2

21 Forfeiture Example 2

Issue of bonus shares

22 Issue of bonus shares

Share Application and Allotment Problem 1

23 Share appln allt prob 1

Share Forfeiture Problem

24 Prob on Share Forfeiture

Share Forfeiture Problem 2

25 Prob2 on share forfeiture

Bonus Issue Problem

26 Problem Bonus Issue

Reissue of Forfeit shares Problem 1

27 Prob Reissue of Forfeit sh

Reissue of Forfeit shares Problem 2

28 Prob 2 Reissue of Forfeit shares

Non Voting Shares

29 Non Voting Shares

Profit on Forfeiture of shares-case study

3443

Chapter 4- Holding Company Accounts

Introduction to Consolidated Financial Statements

CFA454-INTRO

Concept of Group, Holding Company and Subsidiary Company

480 CFA480

Difference between Wholly Owned and Partly Owned Subsidiary

481 CFA481

Purpose of preparing the Consolidated Financial Statements

482 CFA482

Exclusion from Preparation of Consolidated Financial Statements

483 CFA483

Consolidation of LLPs and Partnership Firms

484 CFA484

Advantages of Consolidated Financial Statements

485 CFA485

Example 1 for Holding Subsidary Relationship

455 CFA455

Example 2 for Holding Subsidary Relationship

456 CFA456

Example 3 for Holding Subsidary Relationship

457 CFA457

Share holding by holding and subsidiary company among themselves

458 CFA458

Components of Consolidated Financial Statements

486 CFA486

Important terms in Consolidated Financial statements

459 CFA459

Basic inputs for preparing Consolidated Financial Statements

460 CFA460

Consolidation Procedure

487 CFA487

Steps in preparing CFS

461 CFA461

Example 4 Calculation of Pre-acquisition Profits and Reserve

CFA62

Ex:5 Calculation of Pre-Acquisition Profit & Reserves when Profit is available

CFA463

Treatment of financial Dididend for previous year in current year

CFA468

Example 6 Treatment of Financial Dividend for PY Paid ion CY

469 CFA469

Example 7 Rectification of PY Dividend Credited to P&L A/c

470 CFA470

Treatment of an Interim Dividend for the CY paid during the CY

471 CFA471

Example 8 Treatment of Interim Dividend for CY paid during CY

472 CFA472

Treatment of Proposed Equity Dividend for the Current Year

473 CFA473

Example 9 Treatment of Proposed Equity and Pref Dividend for CY

474 CFA474

Example 10 Treatment of Reserve created during the year

475 CFA475

Treatement of Bonus Shares issued during the year

476 CFA476

Example 11 Treatment of Bonus Shares

477 CFA477

Treatment of Revaluaiton of Fixed Assets of Subsidiary Company

478 CFA478

Example 12 Treatment of Revaluation of Fixed Assets of Subsidiary Company

479 CFA479

Miniority Interest

494 CFA494

Case Study Treatment of Losses related to Miniority Interest

495 CFA495

Case Study Treatement of Pre and Post Acquistion Dividend by Holding Co.,

499 CFA499

Case Study involving Miniority Interest, Goodwill and Profit and Loss Treatemen

500 CFA500

Case Study Computation of Miniority Interest, Goodwill and treatement of Dividen

501 CFA501

Calculation of Goodwill / Capital Reserve (Cost of Control) in Consolidated FS

488 CFA488

Computation of Goodwill and Captial Reserve with Example in Consolidated FS

489 CFA489

Computation of Capital Reserve with Example in Consolidated Financial Statements

490 CFA490

Computation of Goodwill with Example in Consolidated Financial Statements

491 CFA491

Case study 1 Prepartion of Consolidated Balance Sheet

523 CFA523

Case Study on Consolidated Profit and Loss Account

542 CFA542

Case Study 1 Consolidated Financial Statement

1145 cfa1145 a

Case Study 2 Consolidated Financial Statement

1146 cfa1146

Chapter 5 - Cost and Management Accounting Marginal Costing and Break - even Analysis

Introduction to Marginal Costing

1 Introduction

Direct Costing

2 Direct Costing

Difference between Marginal Costing and Direct Costing

3 Diff Marginal and Direct Costing

Differential Cost

4 Differential Cost

Difference between Marginal and Differential Costing

5 Diff btween Marginal

Difference between Variable and Fixed Cost

6 Diff btwn Variable and Fixed Cost

Semi Variable Cost

7 Semi Variable Cost

Marginal Cost Sheet Format

8 Marginal Cost Sheet Format

Marginal Cost Equation

9 Marginal Cos Equation

Absorption Costing Format

10 Absorption Costing Format

Difference between Marginal Costing and Absorption Costing

11 Diff btwn Marginal and Absorption Costing

Contribution

12 Contribution

Profit or loss and Contribution

13 Profit or loss and Contribution

Decision making Indicators of Marginal Costing

14 Decision making

Decision making Indicators of Marginal Costing

14 Decision making

PV Ratio

15 PV Ratio

Indifference Point

19 Indifference Point

Difference between Indifference Point and Break Even Point

20 Diff between IDP and BEP

Shut Down Point

21 Shut Down Point

Case Study on Segregation of Fixed and Variable Cost

22 Case Study on Segregation

Case Study Break Even Point

23 Case Study Break Even Point

Case Study on Computation of Sales for Desired Profits

24 Case Study on Compuation of Sales for Desired Profits

Case Study on Profit Volume Ratio and Break Even Point

25 Case Study on PVR and BEP

Computation of Price Volume Ratio and BEP

26 Computation of Price Volume Ratio and BEP

Case Study Marginal Costing Basic Computations

27 Case Study Marginal

Case Study Profit Volume Ratio and BEP

28 Case Study Profit Volume Ratio and BEP

Finding Fixed Cost, PVR and Sales

29 Finding Fixed Cost, PVR and Sales

Marginal Cost Sheet and VC Interpretation

30 Marginal Cost Sheet and VC Interpretation

Practice Problems -Break Even Point Case Study

3326

Chapter 5- Standard Costing

Introduction to Standard Costing Techniques

1 Introduction

Standardd Cost Definition

2 Standardd Cost Definition

Setting up of Standard Cost

3 Setting up of Standard Cost

Standard Costing Definition

4 Standard Costing Definition

Physical Standards

5 Physical Standards

Material Quantity Standards

6 Material Quantity Standards

Labour Time Standards

7 Labour Time Standards

Overhead Standards

8 Overhead Standards

Problems in setting physical standards

9 Problems

Types of Standards

10 Types of Standards

Need for Standard Costing

11 Need for Standard Costing

Process of Setting Standards

12 Process of Setting Standards

Types of Variances

13 Types of Variances

Introduction to Standard Costing Variances

1 Introduction

Material Cost Variance

2 Material Cost Variance

Material Price Variance

3 Material Price Variance

Material Usage Variance

4 Material Usage Variance

CS Material Cost Variance

5 CS Material Cost Variance

Comprehensive Case Study on Material Cost Variance

6 Comprehensive

MCV more than one material

7 MCV more than one material

Comprehensive Case Study MCV

8 Comprehensive Case Study MCV

Labour Cost Variance

9 Labour Cost Variance

Labour Rate Variance

10 Labour Rate Variance

Labour Efficiency Variance

11 Labour Efficiency Variance

Case Study Labour Cost Variance

12 Case Study Labour Cost Variance

Comprehensive Case Study LCV

13 Comprehensive Case Study LCV

Overhead Cost Variance

14 Overhead Cost Variance

Production Volume Variance

15 Production Volume Variance

Overhead Expenses Variances

16 Overhead Expenses Variances

Variable Overhead Cost Variance

17 Variable Overhead Cost Variance

Chapter 6 - Financial Statements Analysis : Ratio Analysis : Funds Flow Analysis ; Cash Flow Analysis

Introduction to Ratio Analysis (Talking Head)

31 FM31

Classification of Ratio (Talking Head)

32 FM32

Introduction to Liqudity Ratio (Talking Head)

33 FM33

Classification of Liqudity Ratio (Talking Head)

34 FM34

Current Ratio (Talking Head)

35 FM35

Quick Ratio (Talking Head)

36 FM36

Ideal Current Ratio and Quick Ratio (Talking Head)

37 EM37

Absolute liqudity Ratio (Talking Head)

38 FM38

Basic Defense interval Ratio (Talking Head)

39 FM39

Capital Structure Ratios (Talking Head )

40 FM40

Turn over Ratio (Talking Head )

41 FM41

Inventory Turn over Ratio (Talking Head )

42 FM24

Debtors Turn over Ratio (Talking Head)

43 FM43

Creditors Turn over Ratio (Talking Head)

44 FM44

Inventory Holding Period (Talking Head)

45 FM45

Creditors Payment Period (Talking Head)

46 FM46

Debtors Collection Period (Talking Head)

47 FM47

Case Study 1 Ratio Analysis (Talking Head)

48 FM48

Case Study 2 Ratio Analysis (Talking Head)

49 FM49

Case Study 3 Ratio Analysis (Talking Head)

50 FM50

Case Study 4 Ratio Analysis (Talking Head)

51 FM51

Debt Service Coverage Ratio (Talking Head)

52 FM52

Interest Coverage Ratio (Talking Head)

53 FM53

Preference Dividend Coverage Ratio (Talking Head)

54 FM54

Capital Gearing Ratio (Talking Head)

55 FM55

Profitability Ratio (Talking Head)

56 FM56

General Profitability Ratio (Talking Head)

57 FM57

Return on Investment Ratios (Talking Head)

58 FM58

Various Ratio for Equity Share holders (Talking Head)

59 FM59

Market Value Ratios (Talking Head)

60 FM60

Summary and limitation of Ratio Analysis (Talking Head)

61 FM61

Case Study 5 Ratio Analysis (Talking Head)

62 FM62

Case Study 6 Ratio Analysis (Talking Head)

63 FM63

Case Study 7 Ratio Analysis (Talking Head)

64 FM64

Case Study 8 Ratio Analysis (Talking Head)

65 FM65

Liquidity ratios case study1

65 FM65

Interest Coverage Ratio Case Study 3

liquidity-ratios-case-study1

Liquidity ratios case study 2

liquidity-ratios-case-study-2

Proprietary Funds Case Study 4

Proprietary-Funds-Case-Study

Return on Asset Case Study 5

ROA-CS

Stock Turnover Case Study 6

Stock-TO-CS

Equity Share Holders Ratios Case Study 7

ESH-Ratios

Ratio Analysis - Detailed Case Study 8

1-RA-DCS

Ratio Analysis - Detailed Case Study 9

2-RA-DCS

Case Study Ratio Analysis

4 CFA4

Cash Flow Statement Introduction (Talking Head)

66 FM66

Cash Flow Statement Direct Method (Talking Head)

67 FM67

Cash Flow Statement Indirect Method (Talking Head)

68 FM68

Case Study 1 Cash flow study (Talking Head)

69 FM69

Case Study 2 Cash flow study (Talking Head)

70 FM70

Case Study 3 Cash flow study (Talking Head)

72 FM72

Difference between Cash Flow and Fund Flow Statement

2941

Practice problems Cash flow Simple case studies 2

3540

Practice problems Cash flow Simple case studies 3

3538

Practice problems-Cash flow - Important Adjustment - Case Study

3539

Practice Problem - Cash Flow Statement Indirect Method 1

4187

Practice Problem: Cash Flow Statement 2

4206

Practice Problem: Cash Flow Statement 3

4207

Practice Problem: Cash Flow Statement 4

4271

Practice Problem: Cash Flow Statement 5

4272

Practice Problem: Cash Flow Statement 5

4276

Introduction to Fund Flow Analysis (Talking Head)

2950

Importance of Fund Flow Analysis (Talking Head)

74 FM74

Fund Flow Through some Numbers (Talking Head)

75 FM75

Fund Flow Through Digram (Talking Head)

76 FM76

How to identify long term Sources and Uses (Talking Head)

77 FM77

Example of Long Term Source And Uses (Talking Head)

78 FM78

Standard Format of Fund Flow Statement (Talking Head)

79 FM79

Information Required For Preparing Fund Flow Statement (Talking Head)

80 FM80

Case Study 1 Fund Flow Statement (Talking Head)

81 FM81

Case Study 2 Fund Flow Statement (Talking Head)

82 FM82

Case Study 3 Fund Flow Statement (Talking Head)

83 FM83

Case Study 4 Fund Flow Statement (Talking Head)

84 FM84

Fund Flow Statement Case Study

913 cfa913

Practice Problem: Fund Flow Statement 1

4202

Practice Problem: Fund Flow Statement 2

4203

Practice Problem: Fund Flow Statement 3

4204

Practice Problem: Fund Flow Statement 5

4213

Chapter 7 - Auditing : Independent Financial Audit ; Vouching ; Verification and Valuation of Assets and Liabilities ; Audit of Financial Statements and Audit report

Vouching

1-Vouching

General Consideration in Audit of Cash Transactions

2-GCIAOCT

What is Verification in Audit Context?

853 cfa853

Difference between Verification and Vouching

854 cfa854

Objectives of Verification

855 cfa855

Verification of Building

856 cfa856

Verification of Freehold land

857 cfa857

Verification of Leasehold Property

858 cfa858

Verification of Plant and Machinery

859 cfa859

Verification of Furniture and Fixture

860 cfa860

Verification of Small Tools

861 cfa861

Verification of Patents

862 cfa862

Verification of Copy Right, Trade Mark and Goodwill

863 cfa863

Verification of Debtors

864 cfa864

Verfication of Cash at Bank and in Hand

865 cfa865

Verification of Petty Cash

866 cfa866

Verification of Inventories

867 cfa867

Verification of Stocks Lying with Third Parties

868 cfa868

Verification of Bills Receivables

869 cfa869

Verification of Prepaid Expenses

870 cfa870

Verification of Sinking Fund Policies

871 cfa871

Capital Expenditure and Revenue Expenditure

3-CERE

What is Depreciation

4-WID

Purpose of Providing Depreciation

5-POPD

Depreciation on Wasting Assets

6-DOWA

Methods of Providing Depreciation

7-MOPD

Factors to be considered in Selecting Depreciation Policy

8-FTBCISDP

Verification of Loans and Borrowings

872 cfa872

Verification of Trade Creditors

873 cfa873

Verification of Contingent Liability

874 cfa874

Verification of Bills Payable

875 cfa875

Verification of Amount due to Subsidiary Companies

876 cfa876

Verification of Outstanding Expenses

877 cfa877

Chapter 8 - Cost Audit

What is Cost Audit?

2190

Applicability for maintenance of Cost Records

2191

Maintenance of Cost Records

2192

Applicability of Cost Audit

2193

Who can be Cost Auditor?

2194

Appointment of Cost Auditor

2195

Removal of Cost Auditor

2196

Casual Vacany of Cost Auditor

2197

Remuneration of Cost Auditor

2198

Submission of Cost Audit Report

2199

Non Applicability of Cost Audit Rules

2200

Penal provisions in case of Default in Cost Audit

2201

Preview - UGC NET - COMMERCE - UNIT2 (ACCOUNTING & AUDITING)