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Financial Accounting (Paper-6) CMA Inter Group 1

Syllabus

SECTION A: ACCOUNTING – BASICS [25 MARKS]
1. Fundamentals of Accounting
  • Accounting – Meaning, Scope and Significance of Accounting – Accounting Principles ,Concepts and Conventions – Capital and Revenue Transactions Depreciation –Rectification of Errors.
2.  Accounting for Special Transactions
  • Bill of Exchange – Consignment – Joint Venture – Insurance Claims (Loss of Stock and Loss of Profit).

SECTION B: PREPARATION OF FINANCIAL STATEMENTS [40 MARKS]
3. Preparation of Final Accounts of Profit Oriented Organizations, Non- Profit Organizations and from Incomplete Records
  • Preparation of Financial Statements of Profit Oriented organizations: P&L Account, Balance Sheet.
  • Preparation of Financial Statements of Non-Profit making organizations: Preparaton of Receipts & Payments Account, Income & Expenditure Account and Balance Sheet.
  • Preparation of Financial Statements from Incomplete records (Single Entry)
4. Partnership Accounts
  • Admission, Retirement, Death, Treatment of Joint Life Policy, Dissolution of partnership firms including piece meal distribution, Amalgamation of partnership firms, Conversion of partnership firm into a company and sale of partnership firm to a company.

SECTION C : SELF BALANCING LEDGERS, ROYALTIES, HIRE PURCHASE & INSTALLMENT SYSTEM, BRANCH & DEPARTMENTAL ACCOUNTS [20 MARKS]
5. Self-Balancing Ledger
6. Royalty Accounts, Hire Purchase and Installment System
7. Branch and Departmental Accounts

SECTION D: ACCOUNTING IN COMPUTERIZED ENVIRONMENT AND ACCOUNTING STANDARDS [15 MARKS]
8. Computerized Accounting System – Features, Significance, Grouping of Accounts, Ledger hierarchy, Accounting Packages and their selection criteria
9. Accounting Standards
(AS-1, AS-2, AS-7, AS-9, AS-6 and AS-10 has been replaced by revised AS - 10)