Accounting

Paper Code: 
25BCP111
Credits: 
06
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

This course will enable the students to develop an understanding of the basic concepts and principles of accounting and acquire the ability to apply the same in preparing financial statements, computing accounting ratios, and simple problem-solving.

 

 

Course Outcomes: 

Course

Learning outcome

(at course level)

Learning and teaching strategies

Assessment Strategies

Course Code

Course

title

25BCP111

Accounting

(Theory)

 

CO 1Develop a comprehensive understanding of the accounting concepts and accounting process.

CO 2Reconcile cash book and pass book balances of an organization.

CO 3Calculate the value of inventories and evaluate the useful life and value of the depreciable asset including the concept of promissory note and bill of exchange.

CO 4Solve final accounts problems of a sole trader, and accounts for not-for-profit organizations.

CO 5Create partnership accounts, LLP accounts and Construct company accounts.

CO 6Contribute effectively in course specific interaction.

Approach in teaching:

Interactive Lectures, Discussions, Tutorials, Problem solving sessions, Presentations

 

Learning activities for the students:
Self-learning assignments, Case Study Analysis, Presentations, Group Discussions

Continuous Assessment Test, Semester End Examinations, Quiz, Solving Numerical Problems, Assignments, Class Presentations, Individual and group projects.

 

18.00
Unit I: 
Theoretical Framework , Accounting Process and Bank Reconciliation
  • Theoretical Framework: Meaning and Scope of Accounting, Accounting concepts, principles and conventions, Capital and revenue expenditure, capital and revenue receipts, contingent assets and contingent liabilities, accounting policies, Accounting as a measurement discipline – valuation principles, accounting estimates, Accounting Standards - concepts and objectives.
  • Accounting Process: Recording accounting transactions: principles of double entry book-keeping, books of original entry - journal, subsidiary books, cash book, ledger-format, posting from journal and subsidiary books, balancing of accounts, Preparation of trial balance, Rectification of errors.
  • Bank Reconciliation Statement: Introduction, reasons and preparation of bank reconciliation statement.

 

18.00
Unit II: 
Inventories,Depreciation and Bills of exchange
  • Inventories: Meaning, basis and technique of inventory valuation, cost of inventory, net realizable value and record system.
  • Depreciation and Amortisation: Tangible and intangible assets-Meaning and difference, concepts, methods of computation and accounting treatment of depreciation / amortisation, change in depreciation method.
  • Bills of exchange and Promissory notes: Meaning of bills of exchange and promissory notes and their accounting treatment; accommodation bills.

 

18.00
Unit III: 
Preparation of Final accounts
  • Preparation of Final accounts of Sole Proprietors: Elements of financial statements, closing adjustment entries, trading account, profit and loss account and balance sheet of manufacturing and non-manufacturing entities.
  • Financial Statements of Not-for-Profit Organizations: Significance and preparation of receipt and payment account, income and expenditure account and balance sheet, difference between profit and loss account and income and expenditure account.
  • Accounts from Incomplete Records (excluding preparation of accounts based on ratios)

 

18.00
Unit IV: 
Partnership and LLP Accounts
  • Partnership and LLP Accounts: Final accounts of partnership firms and LLPs, Admission, retirement and death of a partner including treatment of goodwill, Dissolution of partnership firms and LLPs including piecemeal distribution of assets.

 

18.00
Unit V: 
Company Accounts
  • Company Accounts: Definition of shares and debentures, Issue of shares and debentures, forfeiture of shares, re-issue of forfeited shares, Redemption of preference shares and debentures (excluding purchase and redemption of own debentures and sinking fund method), Accounting for bonus issue and right issue.

 

Essential Readings: 

  • ESSENTIAL READINGS:

    • Study Material Published by Institute of Chartered Accountants of India

     

    SUGGESTED READINGS:

    • Arun Kumar: Scanner Suchitra Prakashan (P) Ltd
    • Mukharjee, A., & Hanif, M. Modern accountancy. TataMcGrawhill.
    • Ghosh, T. P. Fundamentals of Accounting. Sultan Chand & Sons.
    • Goel, D. K., & Goel, R. Accountancy. Arya Publications.
References: 

E-RESOURCES:

JOURNALS:

  • The Chartered Accountant Journal /ICAI Student Journal
  • The ICFAI reader
  • The Indian Journal of Commerce

 

Academic Year: 
2025-2026
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