Financial Accounting-I

Rashtrasant Tukadoji Maharaj Nagpur University, RTMNU, BCOM Solved Series

Syllabus

FINANCIAL ACCOUNTING-I

Unit-I

Financial Accounting

Meaning, Objectives, Principles, Accounting Concepts & Conventions.  Accounting Standards: Introduction, Need & Objectives, AS 1 to AS 10.  Accounts of Sole Traders.

(Theory &Numerical).

Unit-II

Hire Purchase Accounts

Meaning of Hire Purchase Accounts, Features, Distinction between Hire Purchase and Installment payment, Depreciation of assets, Calculations of Interest, Methods of Accounting.

(Theory & Numerical Excluding Installment System and Repossession of Assets).

Unit-III

Final Accounts of Co-operative Societies

(As per Maharashtra Co-Operative Societies Act 1960). Introduction, Co‑operative Legislation, Types of Co-operative Societies Preparation of Cash Book and Trading & Profit and Loss A/C and Balance Sheet.

(Theory & Numerical).

Unit-IV

Joint Venture Accounts

Meaning, Distinction between Joint venture and partnership, methods of joint venture accounting.

(Theory & Numerical on Centralized & Decentralized Method).