Revised BCom Accounting Finance Sem VI core courses Financial Accounting VII1_1 Syllabus Mumbai University

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AC – 15/04/2019
Item No. – 4.43





UNIVERSITY OF MUMBAI



















Revised Syllabus of
B.Com. (Accounting and Finance)
Programme in Semester VI
Core Courses (EC) –Financial Accounting - VII


Under the Choice Based Credit, Grading and Semester System
(To be implemented from Academic Year 2019 -2020)

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AC – 15/04/2019
Item No. – 4.43
Exhibit no.4
Revised Syllabus of Courses of B.Com. (Accounting and Finance)
Programme at Semester VI
with effect from the Academic Year 2019 -2020

Core Courses (EC)

Financial Accounting – VII

Modules at a Glance
Sr.
No. Modules No. of
Lectures
01 Final Account for Electricity Company 15
02 Final Accounts for Co -Operative Society:
(Co-Operative Housing Society and Consumer Co -
Operative Society) 15
03 Investment Accounting (w.r.t. Accounting Standard - 13) 10
04 Mutual Fund 08
05 Introduction to IFRS and Indian Accounting Standards 12
Total 60

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AC – 15/04/2019
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Sr. No Modules/Units
1 Final Account for Electricity Company
Final Accounts as per Double Account System
 Final Accounts as per Electricity Rules
 Receipt & Expenditure on Capital Account
 General Balance Sheet
 Contingency Reserve
Simple practical problems
2 Final Accounts for Co -Operative Society
(Co-Operative Housing Society and Consumer Co -Operative Society)
Provisions of Maharashtra State Co -Operative Societies Act and rules. Accounting
provisions including appropriation to various funds
Format of Final Accounts – Form N
Simple practical problems on preparation of final accounts of a Co -Operative
housing society & Consumer Co -Operative Society
3 Investment Accounting (w.r.t. Accounting Standard - 13)
For shares (variable income bearing securities)
For debentures/Preference. shares (fixed income bearing securities)
Accounting for transactions of purchase and sale of investments with ex and cum
interest prices and finding cost of investment sold and carrying cost as per
weighted average method (Excl. brokerage).
Columnar format for investment account.
4 Mutual Fund
Introduction, Historical Background SEBI Guidelines, Organisation, NAC Scheme,
Types of Mutual Fund Schemes, , FOF Scheme, Load or No -Load Scheme,
Investment Valuation norms, Pricing of units, Contents of Balance sheet and
revenue Account, Evaluation of mu tual funds, Disposal of Investments,
Recognition of Income, Accounting policies and entries.
5 Introduction to IFRS
Accounting standards : Role/objectives of accounting standards, Development of
accounting standards in India - Requirements of internati onal accounting
standards - International organizations engaged in accounting harmonization -
IASB - FASB - Role of IASB in developing IFRS, Applicability, Interpretation, Scope
and compliance of Accounting Standards
Indian Accounting standards (Ind AS) :
Introduction, Road map, First time adaptation of Indian Accounting Standard,
Conceptual framework
Comparison of Ind AS, IFRS and AS
IFRS : Introduction, scope Purpose & Objective of financial statement -its Frame
work -its assumption, characteristics, element, recognition & measurement., first
time adoption of IFRS
Convergence of Ind -As and IFRS