University of Mumbai, Maharashtra (Mumbai University), General , Accountancy and Financial Management III Syllabus

Unit 1 Partnership Final Accounts based on Adjustment of Admission or Retirement/Death of
a Partner during the year
i) Simple final accounts questions to demonstrate the effect on final Accounts when a
partner is admitted during the year or when partner Retires / dies during the year.
ii) Allocation of gross profit prior to and after admission / retirement / death when
stock on the date of admission / retirement is not given and apportionment of other
expenses based on time / Sales/other given basis.
iii) Ascertainment of gross profit prior to and after admission/retirement/death when
stock on the date of admission/retirement is given and apportionment of other
expenses based on time / Sales / other given basis Excluding Questions where
admission / retirement / death takes place in the same year.

Unit 2 Piecemeal Distribution of Cash
i) Excess Capital Method only
ii) Asset taken over by a partner
iii) Treatment of past profits or past losses in the Balance sheet
iv) Contingent liabilities / Realization expenses / amount kept aside for expenses and
adjustment of actual
v) Treatment of secured liabilities
vi) Treatment of preferential liabilities like Govt. dues / labour dues etc. Excluding :
Insolvency of partner and Maximum Loss Method.

Unit 3 Amalgamation of Firms
i) Realization method only
ii) Calculation of purchase consideration
iii) Journal / ledger accounts of old firms
iv) Preparing Balance sheet of new firm
v) Adjustment of goodwill in the new firm
vi) Realignement of capitals in the new firm by current accounts / cash or a
combination thereof Excluding Common transactions between the amalgamating
firms.

Unit 4 Conversion / Sale of a Partnership Firm into a Ltd. Company
(i) Realisation method only
(ii) Calculation of New Purchase consideration, Journal / Ledger Accounts of old
firms. Preparing Balance sheet of new company.