Principles of Accounting

Paper Code: 
25GBCA103
Credits: 
03
Periods/week: 
03
Max. Marks: 
100.00
Objective: 

The course will enable the students to

1.  Develop  a conceptual understanding of financial  accounting system.

2.  Familiarize  with role of accounting software and  its application in a business organization.

 

Course Outcomes: 

Course

Learning outcome

(at course level)

Learning and teaching strategies

Assessment

Strategies

Course

Code

Course

Title

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

25GBCA

103

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Principles of Accounting (Theory)

CO31.Understand the                   Basic Terminology       of Book   Keeping    & Accountancy. CO32.Develop skills  of  Preparing the  Trading, Profit

&     Loss    A/c    & Balance   Sheet  of the  Organization. CO33.     Develop the        skills       of Preparation        of Accounts         from Incomplete Records   and     its uses. CO34.Categorize different   type    of Accounting Software. CO35.Assess      & gain         hands-on practice               on Accounting Software Tally CO36   Contribute effectively            in course-specific interaction

Approach in teaching:Interactive Lectures, Discussion, Reading assignments,Demonstration.

 

Learning activities for the students: Self learning assignments,

Effective  questions, Seminar

presentation

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual

and  group

projects.

 

9.00
Unit I: 
Basics of Bookkeeping and Accountancy-

 Definition   and   its  Usefulness, Financial Accounting                  Principles,                   Concepts                   and                     Convention. 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 balance

 

9.00
Unit II: 
Final Accounts:

Concept of   Capital,    Revenue  and    Deferred  Revenue Expenditure, Opening  Entries,  Closing  Entries,  Adjustment  Entries,  Manufacturing, Trading and   Profit and   Loss   Account   (Without  Adjustment)  and   Balance Sheet. Adjustment   of    final accounts: Trading account,  profit  and   loss  account and   balance sheet

 

9.00
Unit III: 
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  System Sectional and Self  Balancing  System:  The   Nature  of   Ledgers,   Sectional Balancing System,  Self- Balancing System

 

9.00
Unit IV: 
Computer accounting:

Introduction to Accounting Software, use  of accounting software, types of accounting software’s, accounting software: Tally:  creation of company; creation of ledger account; voucher entry.

 

9.00
Unit V: 
Use of Accounting Software

Tally; Maintenance of Inventory Record; Analysis  of Trial Balance & Final Accounts, result analysis of computer accounting.

ESSENTIAL READINGS: 

1.  Financial  Accounting-R.L. Gupta, V.K Gupta  (Sultan Chand&  Sons)

2.  Modern  Accountancy-AMukharjee, MHanif.  (Tata Mc- Graw-Hill)

3.  Fundamentals    of    Financial     Accounting-Dr    Ashok    Sehgal,    Dr DeepakSehgal (TaxMann’s)

4. Financial  Accounting- Jain,  KhandelwalPareek( Ajmera  Book Company

 

REFERENCES: 

SUGGESTED  READINGS

1.  Accountancy- PC Tulsian  (Tata Mc- Graw-Hill)

2.  Accountancy-DK Goel, Rajesh Goel(Arya  Publications)

3.  An Introduction to Accountancy- S.N Maheshwari(Vikash Publishers)

4.  Fundamental of Accounting-Dr T P Ghosh, (Sultan Chand  & Sons)

Note- The  candidate  shall  be  permitted  to  use   battery operated  calculator  that should  not  have more  than 12  digits,  6 functions and  2 memories and  should be noiseless and  cordless

e-RESOURCES:

1.  https://books.google.co.in/books?id=0yYrDwAAQBAJ&printsec=copyright&redir_esc=y#v=onepage&q&f=false

2. https://icmai.in/upload/Students/Syllabus-2012/Study_Material_New/Inter-Paper5- Revised.pdf

JOURNALS:

1.  The  Indian Journal of Commerce: https://academic.oup.com/journals/?login=false

2.  IUP Journal of Accounting Research:https://iupindia.in/AccountingResearch_AuditPractices.asp

 

Academic Year: 
2025-26
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