Any book on solved problems would be welcome by the students as they dread the unsolved problems the most. Problems and Solutions in Advanced Accountancy—Vol. I and II is the result of realization of the same fact. However, this book will serve its purpose the best if before referring to it the students have attempted to solve the questions on their own.
The book has been designed specially to serve as a complementary set to the textbook Advanced Accountancy—Vol. I and II, authored by the same team as Dr S N Maheshwari and Dr S K Maheshwari. It contains detailed solutions to all the practical problems given at the end of each chapter in Advanced Accountancy, as also solutions to the problems set at the recent university and professional examinations. Special feature of the book is that the problems have been properly graded.
The book maintains the same structure as the corresponding textbook. Thus, the Volume I comprises three sections. Section I deals with problems relating to Accounting Principles and Processes, from journalisation to preparation of final accounts of a firm. Section II deals with the problems relating to Special Business Transactions, viz., consignments, joint ventures, hire purchase, lease, insurance claims, etc. Section III provides solutions to accounting problems of Partnerships, viz., admission, retirement, dissolution and piecemeal distribution. Volume II, also containing three sections, deals with general problems relating to Company Accounts, Specific Company Accounts and Management Accounting.
The book will serve as a useful guide to students preparing for B.Com., M.Com., BBA, MBA and other professional examinations conducted by institutions like the Institute of Chartered Accountants of India (ICAI), the Indian Institute of Bankers (IIB), the Institute of Company Secretaries of India (ICSI), and the Institute of Cost and Works Accountants of India (ICWAI).
1. Section One (Company Accounts) Accounting Standards
a. Shares and share Capital
c. Company Final Accounts
d. Valuation of Foodwill and Shares
e. Acquisition of Business, Profit Prior to Incorporation and Statutory Report
f. Internal Reconstruction
g. Absorption, Amalgamation and External Reconstruction; Company Liquidation accounts.
2. Section Two (Specific Companies Accounts) Insurance Companies accounts
h. Banking Companies Accounts
i. Double Account System; Holding Companies
j. Hotel Companies Accounts.
3. Section Three (Management Accounting) Financial Statements – Analysis & Interpretation
k. Funds Flow Statement
l. Cash Flow Statement
m. Accounting for Price Level Changes