Advanced Financial Accounting

• Meaning, objectives, importance, functions and scope of financial accounting
• Real nature of financial accounting
• Accounting Principles
• Concepts and Conventions
• GAAP and its features
• Accounting Standards : Concept, need, nature, issues and classification
• Nepalese Accounting Standards (NAS), International Accounting Standards (IAS), Relative aspects of NAS and IAS, Nepal Public Sectors Accounting Standards (NPSAS), International Public Sectors Accounting Standards (IPSAS), Relative aspects of NAS, NPSAS and IPSAS

• Company expansion through Amalgamation and Absorption: meaning and concept
• Purchase consideration: concept and determination
• Accounting treatment in the books of both Purchasing and Vendor Company
• Preparation of Balance Sheet by Purchasing Company. Internal and external reconstruction: Meaning, importance, need and accounting treatment & balance sheet after reconstruction. Expansion through Subsidiary companies and Holding Company: Concept of Holding and Subsidiary Company, preparation of Consolidated Balance Sheet by Holding Company after due consideration of: Pre -acquisition and post -acquisition profit, Minority Interest, Cost of Control/Goodwill or Capital Reserve, Elimination of common transactions, Treatment of contingent liabilities and unrealized profit, Revaluation of assets and liabilities, Dividend from Subsidiary Company and preference shares in subsidiaries. Corporate Liquidation: Concept and reasons for liquidation procedures of winding up as per Company Act
• Liquidator’s Final statement of Account: meaning, contents and preparation showing amount realized from assets realized.

• Goodwill: concept, features and need for valuation of goodwill and shares, Factors affecting the value of goodwill and accounting treatment
• Methods of valuing goodwill: Average profit method, super profit method, capitalization method, annuity method
• Valuation of shares: concept and need, Factors affecting value of shares
• Methods of valuation of shares: net assets method, yield method, earning capacity method.

• Concept of Price Level Change: Inflation and Deflation
• Current Purchasing Power Accounting: Concept and preparation of financial statements after Price Level Adjustments
• Current Cost Accounting: Concept and determination: Current Replacement Cost, Net Realizable Value of Assets, Depreciation Adjustment, Holdi ng Gains, Inventory Adjustment, Cost of Sales Adjustment, Monetary Working Capital Adjustment, Gearing Adjustment, Current Cost Reserve: Preparation of Current Cost Profit and Loss Account, Current Cost Balance Sheet.

Human Resource Accounting: Concept, objectives and benefits of HRA, Valuation of Human Resources: Historical Cost Approach, Replacement Cost Approach, Opportunity Cost, Standard Cost Approach, Present Value Approach. Social Accounting: Concept and approaches, Social responsibilities of business, Measurement of social cost benefit, Social Accounts and Balance Sheet. Environment Accounting: Concept, needs, scope, forms and elements of environment accounting. Forensic Accounting: Concept, functions, needs of forensic accounting, detection techniques used in forensic accounting, critical aspects to be followed while conducting forensic accounting.

• Concept, types and features of not for profit organization
• Difference between profit making and not for profit organizations
• Need for maintaining accounts
• Accounting procedures of not for profit organization: Receipts and Payments account, Difference between cash book and receipts & payments account, Income & Expenditure account, Difference between receipts & payments account and income & expenditure account
• Rules regarding incomes & expenses related to a particular fund, Balance Sheet, Capital vs capital fund and Cash Flow Statement. Project Work 10 LHs After the completion of fourth year concentration classes the students shall have to prepare and submit a project work in the area they have specialized. The subject teachers have to discuss with students on possible topics of the project work, ava ilability and sources of literature, availability of data, data collection methods, appropriate tools of data analysis, etc relevant to the subject within 10 lecture hours.