KUK - LMS

Syllabus

MODULE NO / UNIT	COURSE SYLLABUS CONTENTS OF MODULE	NOTES
Course Code: M-BECOE -022 Course Name: Elective Course - Accounting For Business Economists-I
1	Accounting as an information system; Users of financial accounting information and their needs; Functions, advantages and limitations of accounting; Branches of accounting; Bases of accounting; cash basis and accrual basis; The nature of financial accounting principles – Basic concepts and conventions: entity, money measurement, going concern, cost, realization, accruals, periodicity, consistency, prudence (conservatism), materiality and full disclosures. Reading List • Lal, Jawahar & Srivastava, Seema (2006). Financial Accounting: Principles and Practices. S. Chand & Co., New Delhi. • Monga, J.R. (2008). Financial Accounting: Concepts and Applications. Mayoor Paper Backs, New Delhi.
2	Accounting Process: From recording of a business transaction to preparation of trial balance including adjustments: Capital and Revenue expenditure & receipts, Preparation trial balance, Profit and Loss Account and Balance Sheet(Sole Proprietorship only). Reading List • Maheshwari, S. N., Maheshwari, Suneel K. & Maheshwari, Sharad K. (2012). Financial Accounting. Vikas Publication, New Delhi. • Shukla, M.C., Grewal, T.S. & Gupta, S.C. (2017). Advanced Accounts. S. Chand & Co., New Delhi.
3	Measurement of business income-Net income: the accounting period, the continuity doctrine and matching concept; Objectives of measurement; Revenue: concept, revenue recognition principles, recognition of expenses. Reading List • Banerjee, B.K. (2008). Financial Accounting: A Dynamic Approach. Prentice Hall of India Private Limited, New Delhi. • Black, G. (2009). Introduction to Accounting and Finance. FT Prentice Hall. • Tulsian, P.C. (2009). Financial Accounting. Pearson Education.
4	The nature of depreciation; Factors in the measurement of depreciation; Methods of computing depreciation: straight line method and diminishing balance method; Inventories: Meaning. Significance of inventory valuation; Inventory Record Systems: periodic and perpetual; Methods: FIFO, LIFO and Weighted Average. Reading List • Banerjee, B.K. (2008). Financial Accounting: A Dynamic Approach. Prentice Hall of India Private Limited, New Delhi. • Tulsian, P.C. (2009). Financial Accounting. Pearson Education.