NMIMS-PDSE&FBM (SBM’s Initiative): COURSE TEACHING PLAN

Assurance of Learning AOL Specific

Course Code
Fundamentals of Accounting
Course Title

Course Dr Aarti Patki

Instructor/s
3 Credits
Credit Value
Programme BBA(E & FB)-Trimester I- AY 2024-25
& Trimester
Nil
Pre-requisite

CLO 1 – Demonstrating understanding of basics of accounts, capital revenue expenditure,

Debit credit rules, drafting journal entries, ledger ,trail balance (PLO 2a)

Learning CLO 2 – Demonstrating the ability to read and draft financial statement of Sole Proprietor
Objectives (PLO 2b)

CLO 3 – Developing skills like leadership, active listening, conflict management, problem
solving, decision making, responsibility through group project work (PLO 3b)
Upon completion of this course the students will be:
1) Show proficiency in basic accounting concepts, conventions and understanding of the
accounting process.(CLO 1)
Learning
Outcomes 2) Develop the ability to prepare the three most important components of financial
statements i.e., Trading A/c, Profit & Loss A/c & Balance Sheet. (CLO 2)

3) Identify problems in practical financial accounting world & take corrective actions for
the same by applying knowledge of accounting concepts (CLO 3)
This course emphasis on creating a foundation of accounting and analytical skills needed by
business and entrepreneurship students. An understanding of accounting is very necessary to
Course
examine the performance & financial health of business. Therefore, accounting is also referred
Description
to as the ‘Language of Business’. This course will be ideal for students to attain the accounting
skill as well as start pursuing it successfully along their managerial / entrepreneurial journey.
Evaluation
Pattern Specific 3 AOL CLO CLO CLO
assessment Credit Instruments 1 2 3
methods (*)
Class 10
Participation
Quiz 30 Embedded 15 15
Questions
Project Work 20 Rubrics 5 5 10
Final Exam 40 Embedded 10 15 15
Questions
Total 100

Note:
*AOL Assessment Instruments:
 Embedded Questions: Quiz, Class Test, Midterm Examination, Final Examination

 Rubrics: Case & Article Discussion, Individual Assignment

Group Projects & Viva’s, Case Problem analysis, Oral and written
 communication presentations, Role Play,
Group Presentation, Group Project etc.

Chapter detail Pedagogy adopted for class

Topics / Sub -topics / Article Reference engagement
Sessions
/ Case Studies Learning Outcomes
session wise

Introduction to Accounting: Text Book Discussion on basic

 Basic Accounting Terms accounting terms
 Importance of Accounting v/s Pages 1.55- supplemented by reference
Book Keeping 1.60 :Chapter 3 notes and presentation.

Learning Outcome:
1
Students will be able to
understand and grasp basic
accounting
terminologies ,understand
difference between accounting
and book keeping
Accounting Concepts / Conventions & Text Book Discussion on accounting
Principles concepts, conventions and
 Business Entity Concept Pages 1.16- principles supplemented by
 Accounting Period Concept 1.21 :Chapter 2 reference notes, presentation
 Historical Concept and examples.
 Dual Aspect Concept
 Materiality Convention Learning Outcome:
2  Conservatism Convention Student will be able to
understand the purpose of
accounting
concepts/conventions &
principals and visualize the
impact of accounting
principles on financial
reporting
Capital and Revenue –Expenditure, Text Book Discussion on capital and
Receipts ,Gains and Loss revenue items in accounting
Accounting Equation-Dual Aspect of Pages 1.183- and basic accounting equation
Accountancy, Equation in practical 1.187,Pages: :Chapt supplemented by reference
form er 10 notes, presentation and
examples.
Learning Outcome:
Students will be able to
differentiate between OPEX
3 (Revenue expenditure) and
CAPEX, also capital and
revenue income. Students will
be able to understand that
every business transaction has
double sided effect, which
balances the Accounting
Equation every time.

4 Accounting Procedures Text Book Numerical Problem solving to

 Types of Accounts Pages 1.62-1.72 understand the rules of debit
 Rules of Debit & Credit Chapter 4 and credit
 Accounting Equation
Learning Outcome:
 At the end of this session the
students will be able to
identify the different types of
accounts and apply the three
golden rules to each type of
account separately
Journal Writing Text Book Numerical Problem solving to
 Steps of journal writing Pages 1.73-1.76 understand journal writing
 Examples of practical Chapter 4
accounting journal entries Learning Outcome:
At the end of this session, the
5
students would have a brief
idea about the format of
Journal Writing and the
method/ Steps of Journal
Writing.
Journal Writing Text Book Numerical Problem-solving to
 Examples of practical Pages 1.73-1.76 understand journal writing
accounting journal entries Chapter 4

Learning Outcome:
6
At the end of this session, the
students will be able to pass
the necessary Journal Entries
for business transactions
successfully
Class Test 15 marks A short test will be conducted
to assess and evaluate the
Ledger Posting student's understanding and
 What is a Ledger Text Book application of accounting
 How to make a Ledger Pages 1.80-1.84 concepts studied to date.
 How to Balance a Ledger Chapter 5
Discussion and Numerical
Problem-solving to understand
ledger posting
7

Learning Outcome:
At the end of this session, the
students would have
understood the Format of
preparing a Ledger & the step
that go into making and
balancing a Ledger
Ledger Posting Text Book Discussion and Numerical
 Meaning of balances of Pages 1.85-1.87 Problem-solving to understand
various ledgers Chapter 5 ledger posting
 Interpretation of ledger
balance in practical life Learning Outcome:
At the end of this session the
8
students would have
understood the Format of
preparing a Ledger & the step
that go into making and
balancing a Ledger

9 Trial Balance Text Book Discussion and Numerical

 What is a trial balance? Pages 1.88-1.90 Problem solving to understand
 How to prepare a trial balance Chapter 5 the preparation of Trial
Balance.
 successfully post journal
entries into their respective
Accounts and balance the
Ledgers.
Learning Outcome:
At the end of this session the
students will be able to carry
forward Ledger Balances and
prepare a Trial Balance in the
correct Format
Accounting for Special Purpose Text Book Discussion and Numerical
Books – Cash Books Pages 1.98-1.106 Problem solving to understand
 What is a Cash book? Chapter 6 preparation of Cash Book and
 How to prepare a cash book Petty Cash book.
 Difference between a cash
book and petty cash book Learning Outcome:
10  Understand how bank and At the end of this session, the
cash transactions both can be students will be able to
displayed in one ledger identify Cash Book & its
 What are contra entries? purpose back home in their
 How to write, spot, and business. They will also be
interpret contra entries able to prepare a simple Cash
Book.
Class Test 15 marks A short test will be conducted
to assess and evaluate the
student's understanding and
Preparation of Final Accounts of Sole Text Book application of accounting
Proprietors Pages 1.193-1.198 concepts studied to date.
 Meaning & Format of Trading Chapter 11
A/c, P&L A/c & Balance Introduction to three financial
11
Sheet statements of a proprietor.
Supplemented by reference
notes and presentation.
Learning Outcome:
Students will understand
format of financial statements.

12 Preparation of Final Accounts of Sole Text Book Numerical Problems based on

Proprietors Pages 1.199-1.203 preparation of financial
 Meaning & Format of Trading Chapter 11 statements of proprietorship
A/c, P&L A/c & Balance concern.
Sheet Learning Outcome:
Students will be able to
understand the format/
contents of Profit & Loss and
Balance Sheet. They can draft
Profit & Loss Account and
Balance Sheet of
proprietorship from the trial
balance after various year-end
adjustments.
 Preparation of Final Accounts of Sole Text Book Numerical Problems based on
Proprietors Pages 1.199-1.203 preparation of financial
 Meaning & Format of Trading Chapter 11 statements of proprietorship
A/c, P&L A/c & Balance concern.
Sheet Learning Outcome:
1. After this session,
students will be able
to exercise appropriate
13 judgement in selecting
and applying various
accounting rules &
principles and develop
appropriate effective
written & oral
communication skills
relevant to accounting
fundamentals.
Project Presentations “Students will Students will be divided into
present based on groups and evaluated based on
prior instructions their presentations according
to shared guidelines.
shared with Presentations will be based on
them” understanding industries,
companies, business and
financial statements.

14 Learning Outcome:
After this session students will
be able to exercise appropriate
judgement in selecting and
applying various accounting
rules & principles and also
develop appropriate effective
written & oral communication
skills relevant to fundamentals
of accounting
15 Project Presentations “Students will Students will be divided into
present based on groups and evaluated based on
prior instructions their presentations according
to the guidelines shared.
shared with Presentations will be based on
them” understanding industries,
companies, business and
financial statements.

Learning Outcome:
After this session students will
be able to exercise appropriate
judgement in selecting and
applying various accounting
rules & principles and also
develop appropriate effective
written & oral communication
skills relevant to fundamentals
of accounting
 Depreciation Accounting Text Book Numerical Problems based
 What is Straight line method Pages 1.260-1.265 on calculation of depreciation
of depreciation Chapter 12 and accounting for
 Formula depreciation will be
 Journal entries discussed.
 Format
Learning Outcome:
16
Students will understand the
concept and need of
depreciation. They will be
able to understand the need
and impact of change in the
depreciation method on the
financial statements.
Depreciation Accounting Text Book Numerical Problems based
 Numerical on straight Line Pages 1.260-1.265 on the calculation of
method Chapter 12 depreciation and accounting
for depreciation will be
discussed.

Learning Outcome:
17
Students will understand the
concept and need of
depreciation. They will be
able to understand the need
and impact of change in the
depreciation method on the
financial statements.
Depreciation Accounting Text Book Numerical Problems based
 What is the Written Down on calculation of depreciation
Value method of Pages 1.265-1.270 and accounting for
depreciation? Chapter 12 depreciation will be
 Formula discussed.
 Journal entries
Format Learning Outcome:
18
Students will understand the
concept and need of
depreciation. They will be able
to understand the need and
impact of change in the
depreciation method on the
financial statements.
Depreciation Accounting Text Book Numerical Problems based
 Numerical on the Written on the calculation of
Down Value method Pages 1.265-1.270 depreciation and accounting
Chapter 12 for depreciation will be
discussed.

Learning Outcome:
19
Students will understand the
concept and need of
depreciation. They will be able
to understand the need and
impact of change in the
depreciation method on the
financial statements.
Doubt Solving and Revision Session Doubts and various queries of
20 students will be solved, and
numerical will be practiced.
Reading List Prescribed Text Books:
and  Maheshwari S.N. & Maheshwari S.K. & Maheshwari Sharad ,2018, An Introduction
References to Accountancy, 12th Edition , Vikas Publishing House

References:
 M.C. Shukla , T.S. Grewal, S.C. Gupta ,2022,Advanced Accounts by Volume I (19th
Edition), S Chand Publications

 T.S Grewal ,Double Entry Book Keeping – Financial Accounting Textbook, 2023
edition
 Study Material by ICAI-
Financial Accounting- https://www.icai.org/post.html?post_id=19138