Course Overview
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Course Synopsis
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In this subject student will be able to understand the basic concepts and terminologies used in accounting Accounting equation Double entry book keeping Accounting cycle Journal Ledger Trial Balance and preparation of Financial Statements. Bank Reconciliation Statement Accrual Accounting Provision for Bad and Doubtful Debts Accounting for Fixed Assets and Depreciation Control Accounts Rectification of Errors Final Account with Adjustments Manufacturing Account Accounting for Inventories Accounting for Partnership Firms Preparation of Company Financial Statements and Statement of Cash Flows at the successful completion of this subject.
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Course Learning Outcomes
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At the end of this course student should be able to
- basic concepts and different terminologies used in accounting
- accounting equation double entry book keeping examine the transactions and records the transaction using this system
- preparation of complete accounting cycle Journal Ledger Trial Balance and Financial Statements
- concepts of preparing the Bank Reconciliation Statement due to various causes of difference arises between cash book and bank statement
- accounting treatment record keeping and application of accrual Accounting amp Provision for Bad and Doubtful Debts Control Accounts
- accurate preparation of an organization39s financial statements Income Statement Balance Sheet Statement of Changes in Equity and Cash Flow Statement in the presence of accruals provision for Bad and Doubtful Debt and other adjustments
- concept and procedure to rectify the errors in real books of accounts
- preparation of Manufacturing Account accounting for Inventories accounting for Partnership Firms and companies
- the treatment and record keeping of inventory fixed asset and depreciation
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Course Calendar
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Week 01
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1
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Module # 01: Basics of Financial Accounting (Topic # 001-011)
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Week 02
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2
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Module # 02: Recording Financial Information (Topic # 012-016)
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Assignment-1
Week 03
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3
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Module # 03: Double Entry Bookkeeping System - Rules of Debit and Credit (Topic # 017-27)
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Quiz-1
Week 04
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4
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Module # 04: Journalizing – Books of Original Entries (Topic # 028-046)
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GDB-1
Week 05
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5
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Module # 5: Main Ledger / General Ledger / Nominal Ledger (Book of secondary entries) and Trial Balance( Topic #047 - 57)
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6
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Module # 6: Preparation of Financial Statements (Topic # 058 - 061)
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Quiz-2
Week 06
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7
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Module # 7: Bank Reconciliation Statement (BRS Topics # 062 - 068)
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Week 07
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8
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Module # 8: Accrual Accounting (Topics # 069 -077)
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Week 08
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9
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Module # 9: Provision for Doubtful Debts and Allowable Discounts (Topic # 078 - 086)
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Week 09
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10
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Module # 10: Accounting For Fixed Assets and Depreciation (Topic # 087 - 095)
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Week 10
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11
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Module # 11: Control Account (Topic # 096-105)
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12
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Module # 12: Rectification of Errors (Topic # 106-114)
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Week 11
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13
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Module # 13: Final Accounts with Adjustments (Topic # 115-120)
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Week 12
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14
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Module # 14: MANUFACTURING ACCOUNT (Topic # 121-127)
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Week 13
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15
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Module # 15: ACCOUNTING FOR INVENTORIES (Topic # 128-137)
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Week 14
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16
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Module # 16: Accounting For Partnership Firms (Topic # 138-157)
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Week 15
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17
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Module # 17: Company Financial Statements (Topic # 158-163)
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18
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Module # 18: Statement of Cash Flows (Topic # 164-169)
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