Syllabus
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Course Code: B-COM 101 Course Name: Financial Accounting-I |
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| MODULE NO / UNIT | COURSE SYLLABUS CONTENTS OF MODULE | NOTES |
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| 1 | Financial accounting: Concept, objectives & scope; book-keeping and accounting; accounting
principles: concepts and conventions; accounting cycle and accounting equation; branches of
accounting; journal; rules of journalizing; ledger & trial balance; banking transactions and bank
reconciliation statement; rectification of errors: suspense account; effect on profit. Capital and Revenue: Concept and classification of income; expenditure; receipts (with relevant accounting standards) Depreciation provisions and reserves: concept and classification; Methods of depreciation accounting (with relevant accounting standards) Final Accounts: manufacturing, trading, profit & loss account; Balance sheet; adjustment entries. Accounts of Non-profit Organizations: Receipt & payment account, income and expenditure account and balance sheet. Consignment Accounts: accounting records; Normal and abnormal Loss, valuation of unsold stock. Accounting for joint ventures: distinction between joint ventures and partnership, joint venture and consignment, accounting methods for joint ventures |
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