Fundamental of Accounting Book BBA First Sem UOR NEP-2020

Syllabus

Course Code: UG0201-BBA-51T-103

Fundamental of Accounting

UNIT-I

Meaning and Definition of Accounting and Book Keeping, Accounting Process, Objective, Users, Limitations and Basic Terminology of Accounting. Accounting Concepts, Conventions and Equation. Generally Accepted Accounting Principles. Indian Accounting Standards and IFRS.

UNIT-II

Accounting Equations, Types of Accounts, Rules of Debit and Credit. Recording Transactions in Journal and Subsidiary Books: Purchase Book, Purchase Return Book, Sales Book, Sales Return Book and Cash Book. Preparation of Ledger Accounts. Preparation of Trial Balance.

UNIT-III

Depreciation Accounting: Meaning, Features, Need and Methods of Charging Depreciation, Provisions and Reserves, Difference between Provisions and Reserves. Bank Reconciliation Statement: Need and Preparation of Bank Reconciliation Statement. Errors and their Rectification.

UNIT-IV

Preparation of Financial Statements: Preparing Trading Account, Profit and Loss Account and Balance Sheet with Adjustments for a Sole Proprietor. Preparation of Accounts of Non-Profit Organisation: Preparing Receipt and Payment Account, Income and Expenditure Account and Balance Sheet.