21UCR402 – Functional Accounting

Syllabus

Unit I: Depreciation Accounting for Depreciation ᧓ Meaning ᧓ Characteristics ᧓ Causes ᧓ Objectives ᧓ Basic factors affecting the amount of depreciation - Methods of providing Depreciation ᧓ Reserves and Provisions UNIT-2 Accounting for non-profit organization Non-Profit Organization ᧓ Meaning ᧓ Types: Social Clubs, Sports Clubs, Educational Institutions ᧓ Major Receipts and Payments ᧓ Preparation of Receipts and Payment account ᧓ Preparation of Balance Sheet at the beginning - Preparation of Income and Expenditure account ᧓ Preparation of Balance Sheet at the end. UNIT-3 Departmental Accounting & Branch Accounts Departmental Accounting: Meaning ᧓ Need ᧓ Advantages ᧓ Distinction between Departments and Branches ᧓ Methods and Techniques of Departmental Accounting. Branch Accounts: Meaning ᧓objects-Types of Branches-Dependent Branches-Accounting respect of Dependent Branches -Final Accounts System ᧓Independent Branches UNIT-4 Hire Purchase and Instalment Purchase System Hire purchase system- Definition-Main features ᧓Instalment purchase system-Distinction between hire purchase and Instalment System-Accounting treatment for hire purchase system-Instalment purchase system-Meaning-Accounting treatment UNIT- 5 Single entry system and Royalty Accounts Single Entry System ᧓ Meaning and features ᧓ Limitations ᧓ Difference between Double entry and Single entry ᧓ Difference between Balance sheet and Statement of affairs - Statement of affairs method and Conversion method Meaning of Royalty ᧓Explanation of technical terms-Accounting treatment Reference Book: 1. R.L.Gupta & M.Radhasamy Advanced Accountancy -, Sultan Chand & Sons, New Delhi, 2014ISBN-13: 978-8180549885 2. S.P.Jain & K.L.Narang Advanced Accountancy,Kalyan Publishers, New Delhi, 2019, ISBN-13:9789353593674 Text Book: 1. Financial Accounting - T.S.Reddy & A.Murthy, Margham publications, Chennai, Reprint 2012 - ISBN-13: 978-9381430620