Verify Account

SYLLABUS

Unit–I

BILLS OF EXCHANGE: Bills of Exchange - Definition - Distinction between Promissory Note and Bills of ExchangeAccounting treatment of Trade Bills: Books of Drawer and Acceptor - Honour and Dishonour of Bills - Renewal of bills - Retiring of bills under Rebate - Accommodation bills.(Including problems)

Unit–II

CONSIGNMENT ACCOUNTS: Consignment – Meaning – Features – Proforma Invoice - Account Sales – Delcredere commission- Accounting treatment in the books of the Consignor and the Consignee - Valuation of Consignment Stock – Treatment of Normal and Abnormal Loss - Invoice of goods at a price higher than the cost price. (Including problems)

Unit–III

JOINT VENTURE ACCOUNTS: Joint Venture – Meaning – Features-Difference between Joint Venture and Consignment - Accounting Procedure - Methods of Keeping Records for Joint Venture Accounts - Method of Recording in Co-ventures books - Separate Set of Books Method - Joint Bank Account - Memorandum Joint Venture Account. (Including problems)

Unit–IV

ACCOUNTS FROM INCOMPLETE RECORDS: Single Entry System – Meaning - Features – Difference between Single Entry and Double Entry systems - Defects in Single Entry System - Books and accounts maintained - Ascertainment of Profit - Statement of Affairs and Conversion method. (Including problems)

Unit–V

ACCOUNTING FOR NON - PROFIT ORGANIZATIONS: Non - Profit Organization – Meaning – Features – Receipts and Payments Account – Income and Expenditure Account – Balance Sheet. (Including problems)