TYBCOM SEM 5 Financial Accounting Syllabus And Important Chapters

TYBCOM SEM 5 Financial Accounting

I will upload questions of all practical topics of TYBCOM 2021-22.

In this video, you will get to know about the following information.

1. Syllabus of Financial Accounting
2. Paper Pattern
3. Strategy to score 90+ Marks.
4. Weekly study schedule
5. Important Chapters

Stock Level	Labour Cost
Overheads	Material Cost
Gantt Task Bonus Plan	Labour Variances – Standard Costing
Rowan Premium Plan	Standard Costing – Material Variance

Chapter 1: Preparation of Final Accounts of Companies

Relevant provisions of Companies Act related to the preparation of Final Account (excluding cash flow statement)
Preparation of financial statements as per Companies Act. (excluding cash flow statement)
AS 1 in relation to final accounts of companies (disclosure of accounting policies)
Adjustment for –

1. Closing Stock
2. Depreciation
3. Outstanding expenses and income
4. Prepaid expenses and Pre received income
5. Proposed Dividend and Unclaimed Dividend
6. Provision for Tax and Advance Tax
7. Bill of exchange ( Endorsement, Honour, Dishonour)
8. Capital Expenditure included in Revenue expenditure and vice versa
   eg- purchase of furniture included in purchases
9. Unrecorded Sales and Purchases
10. Good sold on sale or return basis
11. Managerial remuneration on Net Profit before tax
12. Transfer to Reserves
13. Bad debt and Provision for bad debts
14. Calls in Arrears
15. Loss by fire ( Partly and fully insured goods)
16. Goods distributed as free samples.
17. Any other adjustments as per the prevailing accounting standard.

Chapter 2: Internal Reconstruction

Need for reconstruction and company law provisions
Distinction between internal and external reconstructions.
Methods including alteration of share capital, variation of shareholder rights, sub division, consolidation, surrender and reissue/cancellation, reduction of share capital with relevant legal provisions, and accounting treatment for same.

Chapter 3: Buy Back of Shares

Company Law / Legal provisions (including related restrictions, power,
transfer to capital redemption reserve account, and prohibitions)
Compliance of conditions including sources, maximum limits and debt-equity
ratio. Cancellation of Shares Bought back (Excluding Buy Back of minority shareholding)

Chapter 4: 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 an investment account.

Chapter 5: Ethical Behavior and Implications for Accountants

Introduction, Meaning of ethical behavior
Financial Reports – What is the link between law, corporate governance,
corporate social responsibility and ethics?
What does the accounting profession mean by ethical behavior?
Implications of ethical values for the principles versus rule based approaches to accounting standards
The principal based approach and ethics
The accounting standard setting process and ethics
The IFAC Code of Ethics for Professional Accountants
Ethics in the accounting work environment – A research report
Implications of unethical behavior for financial reports
Company Codes of Ethics
The increasing role of whistle – Blowing
Why should student learn ethics?

TYBCOM SEM 5 Financial Accounting