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Syllabus Fundamental of Accounting

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52 views2 pages

Syllabus Fundamental of Accounting

Uploaded by

Lavraj Bhatt
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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UTTARANCHAL UNIVERSITY

(Established vide Uttaranchal University Act, 2012, Uttarakhand Act No. 11 of 2013)
Premnagar-248007, Dehradun, Uttarakhand, INDIA

Program Name OBBA Program Code 301


Course Code OBBA-113 Credit 4
Year/Semester 1/1 L-T-P 4-0-0
Course Name Fundamentals of Accounting
Objectives of the Course
• Teach the students the fundamentals of accounting and introduce them to the principles and accounting
standards.
• Demonstrate a critical understanding of the Basics of Accounting, balancing ledger accounts and
preparation of Final Accounts.
• Practice subsidiary books and become familiar with the company's multiple books of accounts.
• Analysing the various transactions of Depreciation and Final Accounts, preparing Final Accounts.
• Prepare a final account of the company and its types in detail.
UNIT-I: Introduction to Accounting:
Financial Accounting-definition and Scope, objectives of Financial Accounting, Accounting v/s Book Keeping
Terms used in accounting, users of accounting information and limitations of Financial Accounting. Accounting
Concepts, Principles and Conventions, Accounting Standards-concept, objectives, benefits, brief review of
Accounting Standards in India, Accounting Policies, Accounting as a measurement discipline, valuation
Principles, accounting estimates.

UNIT-II: Recording of Transactions


Journal, Rules of Debit and Credit, Compound Journal Entry; Opening Entry; Ledger, Posting, Rules Regarding
Posting, Balancing Ledger Accounts; Advantages of Ledger, Meaning and Importance of Trial balance,
Preparation of the Trial Balance.
UNIT-III: Subsidiary Books
Meaning and Significance of Subsidiary Books; Types of Subsidiary Books: Purchases Book Sales Book,
Purchase Returns Book, Sales Return Book, Bills Receivable Book, Bills Payable Book, Cash Book (Simple Cash
Book, Double Column Cash Book, Three Column Cash Book, and Petty Cash Book) and Journal proper
UNIT-IV: Depreciation & Final account of Proprietary concern
Depreciation: Meaning of depreciation, types of depreciation Numerical problem, Journal entry, Preparation of
depreciation & Assets Account Final Accounts of proprietary concern: Trading Account, Profit & Loss Account
and Balance Sheet with adjustment.

UNIT-V: Company Accounts


Introduction Joint-stock company, Essential characteristics of the company, Kinds of company & formation of
the company, the meaning of share accounting entries issues of share, Call in advance & call in advance &
Issues of share premium & Issues of share at discount forfeiture of share, Redemption of preference share.
Preparation of, Trading Account, Profit & Loss Account, Profit & Loss appropriation account, Balance sheet.

Course Outcomes (CO)


CO1 Understand the basic concepts of accounting and how this accounting terminology is used for day-to-day
life.
CO2 Describe the basic concepts related to Financial Accounting transactions, Balancing Ledger Accounts,
Preparation of Trial balance.
CO3 Explain the various Books of Accounts from a Beginners perspective
CO4 Understand the concepts and types of Depreciation and the concepts of Company Final Accounts with the
adjustment and how the adjustment affects the transactions
CO5 Enlighten the students regarding the company Accounts and Kinds of company & formation of the
company.
Books for References:
Text Books:
UTTARANCHAL UNIVERSITY
(Established vide Uttaranchal University Act, 2012, Uttarakhand Act No. 11 of 2013)
Premnagar-248007, Dehradun, Uttarakhand, INDIA

1. Maheshwari, S.N., and S.K. Maheshwari; Advanced Accountancy, Eighth Edition, Vol. I & II, Vikas Publishing
House, 2003
2.Financial Accounting: Fundamentals, Sultan Chand Publishers, 2003.
3.Financial Accounting for Management, Amrish Gupta, Pearson Education
E-Resources:
1.https://nptel.ac.in/courses/110/101/110101131/
2.https://guides.loc.gov/history-of-accounting/electronic-resources
3. https://huntertafe.libguides.com/accounting/eResources_databases

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