Coming soon
Financial Accounting
The objective this course is to develop a conceptual understanding of financial accounting system and their application in business.
Introduction: Accounting standards and its relevance;
Financial Reporting context and purpose, important elements of financial reports; Financial Statements and its scope and purpose for external reporting, users’ and stakeholders’ needs.
Regulatory framework: legislation andregulation, reasons, limitations, duties and responsibilities of those chargedwith governance.
Characteristics of financial information;uses and principles of double-entry and accountingsystems, including maintenance of accounting records and
sources of accounting information; ledger accounts, books of prime entry, and
journals
Recording of transactions and events related to sales and purchases, cash, inventory, tangible non-current assets; Intangible non-current assets and amortization; Accruals and prepayments; Receivables and payables; Provisions and contingencies; Capital structure and finance costs
Preparation of trial balance; Correction of errors; Control accounts and reconciliations; Bank reconciliations statement; Suspense accounts
Preparation of financial statements: Statements of financial position; Statements of profit or loss and other comprehensive income, including disclosure notes; events after the reporting period;
Depreciation Accounting: Introduction, meaning and definition, methods of recording depreciation;
Consolidated Financial Statements:Preparation of consolidated financial statements for Subsidiaries and Associates
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
Cash flow Analysis: Introduction, Concept of Cash, Use of Cash Flow Analysis, Construction of Cash Flow Statement
Financial Statements: Importance, purpose, interpretation and analysis of financial statements
Ratio Analysis: Meaning and classification of ratio- Liquidity ratio, Activity ratios, Profitability ratios, Leverage ratios and Investment ratios.
• Financial Accounting-R.L Gupta, V.K Gupta( Sultan Chand& Sons)
• Modern Accountancy-A. Mukharjee, M. Hanif. (Tata Mc- Graw-Hill)
• Fundamentals of Financial Accounting- Dr Ashok Sehgal, Dr Deepak Sehgal (TaxMann’s)
• Financial Accounting- Jain, Khandelwal Pareek( Ajmera Book Company)
• Accountancy- PC Tulsian (Tata Mc- Graw-Hill)
• Accountancy-DK Goel, Rajesh Goel(Arya Publications)
• An Introduction to Accountancy- S.N Maheshwari(Vikash Publishers)
• Fundamental of Accounting-Dr T P Ghosh,(Sultan Chand& Sons)
Note- The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless
