Corporate Accounting
Subject Overview
Corporate Accounting moves accounting into the world of companies — share and debenture accounting, company final accounts, and the specialised accounting used by banking and insurance companies. You'll cover the issue of shares and debentures (at par, premium, discount, buy-back), preparing final accounts for corporate entities, valuation of goodwill and shares, and accounting for amalgamation and internal reconstruction. The final unit covers insurance company accounts under IRDA provisions. This is a 6-credit core paper across 4 units, and it's the direct foundation for Company Law and the Corporate Accounting elective in Semester 5.
Unit-wise Syllabus
4 units — click WhatsApp below to get the full notes for each
Unit 1: Share capital, debentures & final accounts
Issue of shares at par, premium and discount, forfeited shares, rights and bonus shares, buy-back of shares, redemption of preference shares, issue and redemption of debentures, preparation of company profit and loss account and balance sheet
Unit 2: Goodwill, share valuation & banking company accounts
Valuation of goodwill and shares (simple problems), difference between banking and non-banking company balance sheets, prudential norms, asset structure of a commercial bank, non-performing assets
Unit 3: Amalgamation & internal reconstruction
Concept and accounting treatment of amalgamation as per Accounting Standard 14, internal reconstruction concepts and accounting treatment
Unit 4: Insurance company accounts
Books maintained by insurance companies, special terms in insurance business, accounts for life insurance business, types of policies, annuity business, surrender value, valuation balance sheet, final accounts under IRDA provisions