Advanced Accounting
Master complex accounting topics including branch and departmental accounts, consignment, joint venture, hire purchase, partnership, company reconstruction, and consolidated financial statements.
Course overview
Advanced Accounting builds on basic financial accounting and covers specialised and complex areas such as branch accounts, departmental accounts, partnership changes, company restructuring, and group accounts.
- Apply accounting standards and concepts to complex situations
- Account for branches (inland and foreign), departments, consignment, and joint ventures
- Handle hire purchase, instalment systems, royalty, and insurance claims
- Prepare partnership accounts including admission, retirement, death, and dissolution
- Account for amalgamation, internal reconstruction, and holding company accounts
- Prepare consolidated financial statements and cash flow statements
- Account for leases, intangible assets, deferred tax, and EPS
Course chapters
Follow the chapters in a logical order for the best learning experience.
Introduction to Advanced Accounting
Understand the scope and importance of advanced accounting topics.
Accounting Concepts and Standards
Review fundamental accounting concepts and the role of accounting standards.
Indian Accounting Standards
Get an overview of important Indian Accounting Standards (AS / Ind AS).
Branch Accounts
Account for dependent and independent branches.
Departmental Accounts
Prepare departmental trading and profit & loss accounts.
Consignment Accounts
Account for goods sent on consignment including stock and commission.
Joint Venture Accounts
Record joint venture transactions under different methods.
Inland Branch Accounts
Special focus on accounting for inland (domestic) branches.
Foreign Branch Accounts
Account for foreign branches including currency conversion.
Hire Purchase Accounting
Record hire purchase transactions in the books of hirer and vendor.
Instalment Purchase System
Distinguish and account for instalment purchase system.
Royalty Accounts
Account for royalties including minimum rent and short workings.
Insurance Claims Accounting
Calculate and account for loss of stock and loss of profit claims.
Investment Accounts
Maintain investment accounts for fixed income and variable income securities.
Partnership Accounts
Review the basic framework of partnership accounting.
Admission of a Partner
Account for admission of a new partner including goodwill and revaluation.
Retirement and Death of a Partner
Calculate and settle the claim of a retiring or deceased partner.
Dissolution of Partnership
Prepare realisation account and settle accounts on dissolution.
Insolvency of Partners
Apply Garner vs Murray rule in case of insolvency of partners.
Conversion of Partnership into Company
Account for conversion of a partnership firm into a limited company.
Amalgamation of Companies
Account for amalgamation in the nature of merger and purchase.
Internal Reconstruction
Record capital reduction and internal reconstruction schemes.
Holding Company Accounts
Understand the relationship between holding and subsidiary companies.
Consolidated Financial Statements
Prepare consolidated balance sheet and consolidated statement of profit and loss.
Cash Flow Statements
Prepare cash flow statements using the indirect method.
Accounting for Leases
Account for finance leases and operating leases.
Accounting for Intangible Assets
Recognise, measure, and amortise intangible assets including goodwill.
Deferred Tax Accounting
Account for deferred tax assets and deferred tax liabilities.
Earnings Per Share
Calculate basic and diluted earnings per share.
Financial Reporting and Disclosure
Understand key disclosure requirements in financial statements.
Advanced Accounting Practical Problems
Solve comprehensive practical problems covering advanced topics.
Advanced Accounting MCQs
Test your knowledge with multiple-choice questions.
Recommended learning approach
Start with special transactions (branch, consignment, hire purchase), then partnership, company restructuring, and finally group accounts and other advanced topics.