Institute of Commercial Management | Qualification Subject

Accounting III

Main Topics of Study

Print Page

Special Accounts

‍Joint ventures
Bills of Exchange
Consignment accounts
Branch accounts
Hire Purchase accounts
Partnership dissolution
The issue of shares
Contract accounts

Company Accounts

Taxation in accounts
Published accounts – profit and loss; balance sheet; accompanying notes / cash flow statements

Regulatory Framework

Introduction
The ASB / SSAPs and FRSs

Interpretation of Financial Statements

Accounting ratios

Group Accounts

Introduction
Inter-company dealings – indebtedness and unrealised profits in stock
Consolidated balance sheet
Consolidated profit and loss
Associated companies

Issues in Financial Reporting

Alternatives to historic cost accounting
Social accounting
Accounting as an information system

Recommended Reading

Main Text:

Frank Wood’s Business Accounting 2 – Wood & Sangster (Pitman)

Indicative Text:

Alternative Text and Further Reading:

Financial Accounting – A R Jennings (DP Publications)Spicer & Pegler’s Bookkeeping & Accounts – P Gee (Butterworth)Accounting & Financial Reporting Standards – Geoff Black (DP Publications)