Master of Commerce (M.Com.) Liquidation Accounting Syllabus - Mumbai University

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Syllabus for Liquidation Accounting

Elective course · Semester 2 · M.Com. Advance Accountancy · 4 credits · 100 marks

Module I: (2 CREDITS)

Unit 1 Overview of Liquidation
A. Introduction: What is liquidation -Reasons for liquidation - Types of liquidation (voluntary, involuntary, etc.)
B. Legal Framework - Legal and regulatory framework Insolvency Bankruptcy Code - Key
stakeholders (shareholders, directors, creditors) - Liquidators and their roles
Unit 2 Voluntary Liquidation Procedure A. Process: Initiating voluntary liquidation - Appointment of a liquidator - Board and shareholder resolutions.
B. Liquidator's Duties and Powers - Liquidator's role and responsibilities - Liquidator's powers and limitations - Reporting to stakeholders including preparation of draft report

Module II: (2 CREDITS)

Unit 3 Involuntary Liquidation Process A. Petitions for involuntary liquidation - Court's role in involuntary liquidation - Appointing an Official Receiver B. Creditors and Debt Recovery - Role of creditors in involuntary liquidation - Debt recovery strategies
- Handling secured and unsecured creditors (Practical problem on classification of Creditors)
Unit 4 Accounting & Tax Implications A. Valuation of assets and liabilities - Identifying and preserving assets - Asset realization and distribution - Preparing reports for stakeholders - Distribution of assets to creditors.
B. Tax implications and benefits - Realization account Preparation --Piecemeal Distribution of assets - Liquidators Final Accounts

References

 Taxmann's Insolvency and Bankruptcy Law Manual – Covering amended, updated & annotated text of the IBC along with 28+ Relevant Rules/Regulations, 85+ Guidelines/Notifications/Circular, etc. [2023] Bankers Along with Important Case Laws | Knowledge Partner  Taxmann's Law & Practice of Insolvency & Bankruptcy (2 Vols.) – The updated 'section-wise' flagship commentary, presented in an integrated, interconnected & comprehensive format  Practical Problems on Corporate Accounting by Dr S. M. Shukla  Corporate Accounting by Dr S. M. Shukla and K. L.Gupta  Taxmanns Corporate Accounting

Reproduced from the University of Mumbai syllabus for M.Com. (Advance Accountancy) under NEP 2020, in force from the academic year 2023-24. Wording is as printed in that syllabus. Module numbering is as printed there too.

The complete syllabus

This subject is cut from the University circular for its specialisation. Open a document here if you want the whole thing rather than a single subject.

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