The Course attempts to equip the students with the knowledge of the basic principles and functionalities of Accounting. The course will prove to be helpful for the students in learning to expedite the Book-Keeping and Accountancy.
Basics of Bookkeeping and Accountancy- Definition and its Usefulness, Financial Accounting Principles, Concepts and Convention.
System of Bookkeeping – Double Entry System, Books of Prime Entry, Subsidiary books, Recording of Cash and Bank Transaction, Preparation of Ledger accounts, Preparation of Trial balance
Cash Book – Book of Original Entry.
Kinds of Cash Book - Single column, Double Column, Triple Column Cash Book.Posting the cash book entries.
Petty Cash BookImprest system of Cash Book
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
Financial Statement of Non Profit Making Entities-Receipt and Payment Account and Income and Expenditure Account and Balance Sheet, Accounts of Professional
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.
Sectional and Self Balancing System: The Nature of Ledgers, Sectional Balancing System, Self Balancing System
Rectification of Errors
Classification of Errors, Methods of Preparation.
Bank Reconciliation Statement – Meaning, Importance, Procedure and preparation of BRS,
Causes of difference of Cash Book and Pass book
Self-Balancing and Sectional Balancing System
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