Financial Accounting ( Major ) B.Com 1st Semester University of Rajasthan

Syllabus

ABS-51T-101: Financial Accounting

UNIT-I

Accounting: Meaning, Concept, Importance and Scope of Accounting, Basic Accounting Principles, Conventions, Concepts, Procedures, Methods, Forms of Accounting and Uses of Accounting information.

Accounting equations and Types of accounts, Rules of recording business transactions. Preparation of Journal, Subsidiary Journal Books, Ledger and Trial Balance, preparation of Trading Account, Profit and Loss Account and Balance sheet with adjustments.     

                                                                                                                                                                                                      15 Lectures

UNIT-II

Departmental Accounting: Meaning and objective of departmental accounts; Basis of allocation of common expenses; Inter-departmental transfers; Preparation of departmental Trading and P and L account (Including general P and L account and balance sheet).

Branch Accounting: Meaning, Objectives and Methods including Debtor system, Stock and Debtor system, Final Account system; Wholesale Branch system and Independent Branch system excluding Foreign Branches; Difference between branch and departmental accounting.                                                                                                                                                                                 15 Lectures

UNIT-III

Insurance Claims: Meaning of Insurance claims, Need, Loss of Stock policy, Consequential  Loss policy, Comprehensive Loss policy, steps for ascertaining insurance claims, Computation of loss of stocks with abnormal items including consequential loss of profit and application of average clause.

Accounting from Incomplete Records: Converting single entry into double entry system, steps in conversion, ascertainment of sales, purchases, stocks, cash and bank balances, capital, etc., preparation of final accounts.

Accounting for Investments.                                                                                                                                                   15 Lectures

UNIT-IV

Accounting for Hire Purchase: Meaning and importance of hire purchase system, Provisions of Hire Purchase Act 1972, Preparation of hire purchase accounts – Journal entries and Ledger accounts in the books of hire-purchase and hire-vendor.

Accounting for Instalment System: Meaning and importance of Instalment system, Difference between hire purchase and instalment system, Preparation of Instalment payment accounts – Journal entries and Ledger accounts in the books of Purchaser and Vendor.

Accounting for Lease: Meaning and importance, Difference between Hire purchase and lease, Differences in accounting treatment, Types of leases – Financial lease and operating lease – Accounting treatment in the books of lessor and lessee.                                       

15 Lectures

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bdkbZ&I

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bdkbZ& II

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bdkbZ& III

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bdkbZ& IV

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iês ds fy, ys[kkadu&vFkZ ,oa egRo] fdjk;k Ø; ,oa iês ds e/; varj] ys[kkadu mipkj esa varj] iêksa ds çdkj & foÙkh; iêk ,oa ifjpkyu iêk & iêsnkrk ,oa iêsnkj dh iqLrdksa esa ys[kkadu mipkjA                                                                                                15 O;k[;ku