Recent Trends in Accounting - I Notes | B.Com. (Accountancy) Semester 1 | Mumbai University | munotes

Contents

Module I Unit I: Introduction to Farm Accounting

1. What Farm Accounting Is 1
2. Why a Farm Needs Its Own Accounts 3
3. IoT on the Farm 5
4. Data Analytics in Farm Accounting 7
5. What Ind AS 41 Is 9
6. The Objective and the Scope 12
7. Agricultural Activity 14
8. The Bearer Plant 16
9. The Biological Asset 18
10. The Other Definitions the Standard Uses 20
11. Recognition 22
12. Measurement: Fair Value Less Costs to Sell 24
13. When Fair Value Cannot Be Measured Reliably 27
14. Gains and Losses 30
15. Government Grants 33
16. The Disclosures 36
17. Disclosures Where Fair Value Is Not Used 39
18. Ind AS 41 Worked From End to End 41
19. Practice: Module I 44

Module II Unit III - Book-keeping and Accounting: Farm Accounting

1. Book-keeping and Accounting for a Farm 48
2. What a Farm Record Is 50
3. The Objectives of Farm Records 52
4. Why Farm Records Are Maintained 54
5. The Muster Roll 56
6. The Overseer’s Diary 58
7. The Cultivation Register 60
8. The Farm Cashbook 62
9. The Stock Book 64
10. The Issue Register 66
11. The Receipt Register 68
12. The Labour Requisition Book 70
13. The Attendance Register 72
14. The Deadstock Register 74
15. The Ration Book 76
16. The Peon Book 78
17. The General Register 80
18. The Thirteen Records Together 82
19. Preparing the Final Accounts of a Farm 84
20. Capital and Revenue on a Farm 86
21. Farm Income 89
22. Farm Expenditure 91
23. The Trial Balance 93
24. The Farm Trading Account 95
25. The Farm Profit and Loss Account 98
26. The Farm Balance Sheet 100
27. The Final Accounts Worked From a Trial Balance 102
28. A Second Worked Set, With Adjustments 104
29. Practice: Module II 107