PRINCIPLES OF ACCOUNTING

Introduction to Accounting – Meaning & Definition Concepts, Need, Objectives, Advantages & Limitations.

Basic Accounting Terms, Accounting Principles or Concepts and Conventions.

System of Bookkeeping – Double Entry System, Books of Prime Entry, Subsidiary books, Recording of Cash and Bank Transaction,

Preparation of Ledger accounts, Preparation of Trial balances.

Preparation of Final Accounts without Adjustments  

Preparation of Final Accounts With Adjustments (Closing Stock, Prepaid Expenses, Outstanding Expenses, Accrued Incomes, Unearned Incomes, Depreciation on Non Current Assets, Interest on Capital, Interest on Drawings and Bad Debts)

Preparation of Accounts from Incomplete Records (Single Entry System): Nature of Incomplete Records, Limitations of the Single Entry System, Ascertainment of Profit or Loss, Difference between Double Entry System and Single Entry Systems. 

Computer and  Accounting: the Inter Relationship, Application of Computer in Accounting and Accounting Information System (Executive Support System, Management Information System, Decision Support System and Transaction Processing System) and Introduction and Purpose of Accounting Information System.

Introduction to Accounting Software, uses of accounting software, types of accounting software’s, Sourcing of Accounting Software; Readymade, Customized and Tailor Made Software’s. Use of Accounting Software Tally with GST: Creation of company; creation of ledger account; voucher entry Trial Balance and Preparations of Financial Statements.