Fundamental Of Business Accounting

Syllabus

Fundamentals of Business Accounting

Module No. 1: Introduction to Financial Accounting                    08 Hours

Introduction – Meaning and Definition – Objectives of Accounting – Functions of Accounting – Users of Accounting Information – Limitations of Accounting – Accounting Cycle – Accounting Principles – Accounting Concepts and Accounting Conventions. Accounting Standards – Objectives- Significance of Accounting Standards. List of Indian Accounting Standards.

Module No. 2: Accounting Process                                                 12 Hours

Meaning of Double Entry System – Process of Accounting – Kinds of Accounts – Rules – Transaction Analysis – Journal – Ledger – Balancing of Accounts – Trial Balance – Problems on Journal, Ledger Posting and Preparation of Trial Balance.

Module No. 3: Subsidiary Books                                                    14 Hours

Meaning – Significance – Types of Subsidiary Books –Preparation of Purchases Book, Sales Book, Purchase Returns Book, Sales Return Book, Bills Receivable Book, Bills Payable Book. Types of Cash Book- Simple Cash Book, Double Column Cash Book , Three Column Cash Book and Petty Cash Book(Problems only on Three Column Cash Book and Petty Cash Book), Bank Reconciliation Statement – Preparation of Bank Reconciliation Statement (Problems on BRS)

Module No. 4: Final Accounts of Proprietary Concern                 10 Hours

Preparation of Statement of Profit and Loss and Balance Sheet of a Proprietary Concern with Special Adjustments like Depreciation, Outstanding and Prepaid Expenses, Outstanding and Received in Advance of Incomes, Provision for Doubtful Debts, Drawings and Interest on Capital.

Module No. 5: Accounting Software                                              12 Hours

Introduction-Meaning of Accounting Software, Types Accounting Software-Accounting Software Tally-Meaning of Tally Software – Features – Advantages, Creating a New Company, Basic Currency Information, Other Information, Company Features and Inventory Features. Configuring Tally - General Configuration, Numerical Symbols, Accounts/Inventory Info – Master Configuration -Voucher Entry Configuration. Working in Tally: Groups, Ledgers, Writing Voucher, Different Types of Voucher, Voucher Entry Problem on Voucher Entry - Generating Basic Reports in Tally-Trail Balance, Accounts Books, Cash Book, Bank Books, Ledger Accounts, Group Summary, Sales Register and Purchase Register, Journal Register, Statement of Accounts, and Balance Sheet.