Coming soon
Accounting
Course Objectives:
This course will enable the students to
The objective of this course is to develop a conceptual understanding of financial accounting system and their application in business
Course Outcomes (COs):
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Course |
Learning outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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Paper Code |
Paper Title |
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COM - 101 |
Financial Accounting |
CO 1. Develop the skills of identification and uses of different Accounting Standard. CO 2. Understand the technique or skill of Preparing Financial Statements and its uses for the growth of Organization. CO 3. Enable Students to prepare Joint Venture Accounts-Features of a Joint Venture, Methods of keeping accounts, Conversion of Consignment into Joint Venture. CO 4. Enable Students to Understand the Concept of Consignment Account and How to Prepare a Consignment Accounts. CO 5. Enable & Develop the skills among the Students to prepare Accounts from Incomplete Records. |
Approach in teaching: Interactive Lectures, Discussion, Tutorials, Reading assignments, Practical Cases, Power point presentation and Solving Questions.
Learning activities for the students: Self learning assignments, Effective questions, Seminar presentation, Giving tasks, Live practical problems analysis
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Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects. |
Preparation of Final Accounts
Concept of Capital, Revenue and Deferred Revenue Expenditure, Opening Entries, Closing Entries, Adjustment Entries, Manufacturing, Trading and Profit and Loss Account (With Adjustment) and Balance Sheet
Preparation of Accounts from Incomplete Records (Single Entry System):
Nature of Incomplete Records, Limitations of the Single Entry System, Ascertainment of Profit or Loss, Difference between Double Entry System and Single Entry System
Joint Venture Accounts-Features of a Joint Venture, Methods of keeping accounts, Conversion of Consignment into Joint Venture
Consignment Accounts-Accounting for consignment in the books of consignor and consignee, Normal Loss and Abnormal Loss of good sent on consignment, Accounting for Goods sent on consignment at mark up price, Valuation of Closing Stock, Del Creder Commission and Bad Debts
Sectional and Self Balancing System: Nature of Ledgers, Sectional Balancing System and Self Balancing System with related practical problems
Recent Trends of Accounting: Theoretical concepts of Green Accounting, Carbon Credit Accounting, Robotic Accounting, Forensic Accounting
1. Financial Accounting-R.L Gupta, V.K Gupta( Sultan Chand& Sons)
2. Modern Accountancy-A Mukharjee, M Hanif. (Tata Mc- Graw-Hill)
3. Fundamentals of Financial Accounting- Dr Ashok Sehgal, Dr Deepak Sehgal (TaxMann’s)
4. Financial Accounting- Jain, Khandelwal Pareek( Ajmera Book Company)
1. Accountancy- PC Tulsian (Tata Mc- Graw-Hill)
2. Accountancy-DK Goel, Rajesh Goel(Arya Publications)
3. An Introduction to Accountancy- S.N Maheshwari(Vikash Publishers)
4. Fundamental of Accounting-Dr T P Ghosh,(Sultan Chand& Sons)
