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BBM -131: FINANCIAL ACCOUNTING
Objective: The objective of this course is to acquaint students with the concepts, tools and techniques of accounting influencing business organizations.
MODULE - I:
Introduction to Accounting:

5 Hrs

Meaning, Need for accounting, Internal and External uses of accounting information,
Accounting concepts and conventions, Accounting practices, Generally Accepted
Accounting Principles. (Concept only of GAAP)
MODULE - 2:
Accounting systems & process

14 Hrs

Nature of accounting, Systems of accounting (Single entry and double entry), Process of accounting transactions, types of accounts Rules of accounting. Journal -Meaning, features, simple and compound entries. Ledger-Meaning, features, preparation of ledgers
MODULE -3:
Subsidiary books

12 Hrs

Subsidiary books - Sales book, sales return book, purchases book, purchase returns book, receivable book, payable book,
Cash Book- (Single column, double column, and three columnar cash book, petty cash book) and journal proper.
MODULE - 4:
Rectification of errors and Trial balance

6 Hrs

Types of accounting errors and methods or rectification of errors. Preparation of Trial balance MODULE-5
Bank reconciliation statement
Need for reconciliation and preparation of bank reconciliation statement.

8 Hrs

MODULE - 6:
10 Hrs
Single Entry system of bookkeeping
Preparation of Opening and Closing statement of Affairs and Computation of profit.
Preparation of revised statement of affairs
MODULE - 7
Fundamentals of Partnership
6 Hrs
Preparation of partners capital account- fixed and fluctuating-preparation of profit and loss adjustment account –calculation of interest on drawings.

MODULE - 8:
Final Accounts

14 Hrs

Preparation of Trading and Profit and Loss account and balance sheet of sole trading concerns and partnership firms including all adjustments.
BOOKS FOR REFERENCE:
1.
S.N. Maheshwari, Fundamental of Accounting.
2.
Shukla and