Book Details

Financial Accounting-I (OU)

Financial Accounting-I (OU)

Published by SIA Publishers and Distributors (P) Ltd.

Course Code : B.Com I-I (O.U)
Author : SIA PUBLISHERS
University : Osmania University
Regulation : 2019
Categories : Arts and Science
Format : ico_bookPDF (DRM Protected)
Type :

eBook

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Description :

SYLLABUS

Unit–I

Accounting process

Financial Accounting: Introduction – Definition – Evolution – Functions - Advantages and Limitations– Users of Accounting Information- Branches of Accounting – Accounting Principles: Concepts and Conventions- Accounting Standards - Meaning – Importance – List of Accounting Standards issued by ASB – Accounting System- Types of Accounts – Accounting Cycle - Journal – Ledger and Trial Balance. (Including problems)

Unit–II

Subsidiary Books

Meaning – Types - Purchases Book - Purchases Returns Book - Sales Book - Sales Returns Book -Bills Receivable Book - Bills Payable Book – Cash Book - Single Column, Two Column, Three Column and Petty Cash Book - Journal Proper. (Including problems)

Unit–III

Bank Reconciliation Statement

Meaning – Need - Reasons for differences between cash book and pass book balances – Favourable and over draft balances – Ascertainment of correct cash book balance (Amended Cash Book) - Preparation of Bank Reconciliation Statement. (Including problems)

Unit–IV

Rectification of Errors and Depreciation

Capital and Revenue Expenditure – Capital and Revenue Receipts: Meaning and Differences - Differed Revenue Expenditure. Errors and their Rectification: Types of Errors - Suspense Account – Effect of Errors on Profit. (Including problems) Depreciation (AS-6): Meaning – Causes – Difference between Depreciation, Amortization and Depletion

- Objectives of providing for depreciation – Factors affecting depreciation – Accounting Treatment –Methods of depreciation: Straight Line Method - Diminishing Balance Method (Including problems)

Unit–V

Final Accounts

Final Accounts of Sole Trader: Meaning - Uses - Preparation of Manufacturing, Trading and Profit & Loss Account and Balance Sheet – Adjustments – Closing Entries. (Including problems)

Note : Financial Accounting-I (OU), B.Com I-I (O.U)

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