We have great pleasure in presenting First edition “Financial Accounting – II” written for students of UG courses. The related matters are written in a simple and easily understandable.
This volume is an attempt to provide the students with thorough understanding of Financial Accounting – II. We have presented the subject matter in a systematic manner with liberal use of charts and diagrams where ever necessary so as to make it interesting and sustain students’ interest.
Contents –
Unit – 1 Bills of Exchange
Introduction
Meaning of Bill
Features of Bill
Parties in the Bill
Discounting of Bill
Renewal of Bill
Entries in the Books of Drawer and Drawee
Review Questions
Unit – 2 Consignment Accounts
Introduction
Consignment
Features of Consignment
Proforma Invoice
Account Sales
Del-credere Commission
Accounting Treatment in the Books of Consigner and Consignee
Valuation of Closing Stock
Normal Losses
Abnormal Losses
Review Questions
Unit – 3 Joint Venture Accounts
Introduction
Joint Venture
Features of Joint Venture
Difference between Joint-Venture and Consignment
Accounting Procedure
Methods of Keeping Records
One Vendor Keeps the Accounts
Separate Set off Books Methods
Review Questions
Unit – 4 Partnership Accounts – I
Introduction
Meaning of Partnership Accounts
Partnership Deed
Fixed and Fluctuating Capitals Accounting Treatment of Goodwill
Admission
Retirement
Review Questions
Unit – 5 Partnership Accounts – II
Introduction
Death of a Partner
Dissolution of a Partnership Firm
Application of Garner v/s Murray Rule in India
Insolvency of Partners
Review Questions
