Syllabus 2

Course No: BCC 102
Course Title: Basic Accounting

Marks: 100
Credit: 3.00 hours
(Written: 75, Internal Evaluation: 20 and Viva: 05)
Course Objectives: accounting process
Theobjective soft iscourseis to develop the students understanding of whole
andapplicationofconceptualframeworkforthesame. in-order to create their abilities to apply such concepts and principles in
preparation and presentation of financial statements in accordance with identified financial reporting framework..
Course Contents:
1. IntroductiontoFinancialAccounting:Backgroundof AccountingDevelopment: Definition-The purpose and Natureof
Accounting Information- the Work of Accountants -Branches of Accounting- the Need for Accounting Concepts and
Principles- Professional Associations-Generally Accepted Accounting Principles (GAAP) - Capital and Revenue
Receipts &Expenditures-Introduction to International Accounting Standards (IASs) and International Financial
Reporting Standards (IFRS) issued by InternationalAccounting Standards Boards (IASB).
2. RecordingProcess of Economic Events:Rulesof Accounting Records - Accounts classification of accounts-Debit and
Credit-the Principles of Double Entry - Accounting Equation - Journal- Ledger- Coding and Chart of Accounts
Posting in the Ledger Accounts- Trial Balance - purpose -Limitations of Trial Balance - Locating Errors- Adjusting
Entries- Rectification of the Errors before and after preparation of Trial Balance.
3. Completing the Accounting Cycle andWorks heet: Use of Work Sheet-Preparation of Work Sheet- Closing entries
for revenue and expernses accounts- Post closing trial balance-Opening entries-Reversing entries.
4. Accounting forMerchandising OperationsandAccountingSystem: Merchandising operations- Recording purchase
and sales of merchandise under perpetual & periodical inventory system Completing the accounting cycle- The
Voucher System-VoucherForms-theVoucherRegister-Vouchers PayableSubsidiaries-Paid Voucher Files, Operating
General Ledgers and Subsidiary Ledgers: Control Accounts-Subsidiary Ledger Accounts- Subsidiary Ledgers.
Special Journals: Advantages of Special Journals- Cash ReceiptsJournal -SalesJournals-PurchaseJournal- Cash
Payments Journal and General Journal.
5. Preparation and Presentationof Financial Statements: Preparation of Financial Statements. Multiple-step, income
Statement - Single-step income Statement- Classified Balance Sheet-Horizontal and Vertical Arrangement of
Financial
Statement
statements. Preparation and presentation of Financial Statement as per IAS-1: Presentation of Financial
6.Preparation
Statements:
and Presentation of CashFlowstatement,ValueAdded Statementand other Supplementary
(a)Cash Flow Statement: Definition -Basic objectives, forms benefits, purposes and limitations -Requirements
of Companies Act, 1994 and theSecurities andExchange Rules, 1987forthe preparation of cash flow statement,
IAS 7:Cash Flow Statement.
(b) Value Added Statement and Eeonomic Value Added: Definition- Objectives- Importance of Form
Different Concepts of Value Additives- Preparation of Value added statement and Econonmic Value Added
statement.
(e)Other Supplementary Statements: Statement of accountingpolicies-principlesand assumptions-Fixed Assets

Scheduleandother supplementary statements and disclosures, IAS: 8: Accounting policies, changes in
Accounting Estimates and Errors.
7.An Overview of Automated Accounting System: Concept of Automated Accounting System, Importance of
Automated Accounting System, Automated vs. manual accounting system, Impacts of Atomated Acounting
System in Business enterprise, Conversion of manual accounting system to Automated Accounting System and
Automated Accounting System in Enterprise Resources Planning.
Basic Text:
1. Weygandt, Kieso and Kimnel, Accounting Principles (Latest edition).
Reference Books:
1 John J. Wildand Ken W. Shaw, Fundamentals of Accounting Principles. McGraw Hill
Education
2. M.C. Shukla, T.S. Grewal &S.C. Gupta, AdvancedAccountancy.
3. P.E. Fess &C.R. Niswonger, Accounting Principles.
4. Basu and Das, Principles & Practices of Accountancy.

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Course No: BCC 102

Course Title: Basic Accounting

(e)Other Supplementary Statements: Statement of accountingpolicies-principlesand assumptions-Fixed Assets

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