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Financial Accounting - I FYBBI Semester I

Financial Accounting - I FYBBI Semester I

Description

Financial Accounting - I

FYBBI

Semester I

Syllabus

1. Introduction to Accounting

 

l Meaning, Scope, Objectives, Need, Importance and Limitations of Accounting

 

l Basic Accounting Terminology

 

l Branches of Accounting

 

l Accounting Concepts, Conventions and Principles

 

l Double Entry System, Classifications of Accounts, Rules of Debit and Credit

 

l Writing of Journal Entries and Ledger, Sub-division of Journal and Trial Balance

2. Classification of Income and Expenses and Accounting Standards

 

l Classifications of Income, Expenditure and Receipts on the basis of Capital and Revenue

 

l Source Documents required for Practical Accounting

 

l Introduction to Bank Reconciliation Statement and Errors and their Rectification

 

l Accounting Standard 1, 2, 6, 8, 9, 10

 

l Understanding Fair Value Concept

 

l Overview of Ind-AS vis-a-vis International Financial Reporting Standards (IFRSs)

3. Issues of Shares, Stock Valuation and Hire Purchase

 

l Introduction to Issue of Shares

 

l Stock Valuation (FIFO and Weighted Average Method only)

 

l Hire Purchase Transactions (Calculation of Interest, Accounting as per Asset Purchase Method only, exclude Repossession)

 

l Introduction to Depreciation : Fixed Installment Method, Written Down Value Method, Change of Method

 

l Valuation of Goodwill (Problems based on Average Profit Method and Super Profit Method only)

4. Final Accounts

 

l Trading Account, Profit and Loss Account, Balance Sheet, Adjustment Entries

 

l Introduction to Accounts and Non-Profit Organisations

 

 

 

Additional Information

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ISBN-13 978-93-89293-02-9
AUTHOR Ainapure & Ainapure
YEAR 2019
ED First
PAGES 524
SUBJECT Financial Accounting - I FYBBI Semester I
LANGUANGE English