The objective this paper is to help the students to acquire fundamental knowledge of Accounting & their applications.

UNIT-I :Introduction –need for accounting – Definition of Accounting – Scope of Accounting – Book keeping and accounting – Branches of Accounting – Advantages and limitations – Basic Accounting concepts ans conventions – Accounting process – Journalising – Classificaction of accounts – interpretation of balances on ledger accounts – preperation of trial balance.

UNIT-II :Practical system of book keeping – Subsidary books – cash book – Type – Banking transaction – posting from cash books – petty cash book – imprest system – purchase book – sales book – returns inward book – return outward book - Journal proper

UNIT-III :Bank Recounciliation statement

Need – reasons for difference between cash book and pass book balances – problems with favourable balance and overdraft problems with extracts – cash book and pass book – Ascertainment of correct cash book balance.

UNIT – IV :consignments – Features – proforma invoice – account sales – commossion – accounting treatment in the books of consignor and consignee – valuation of consignment stock – normal and abnormal loss – invoice of goods at a price higher than cost price.

UINIT V – DEPRCIATION
Depreciation – meaning – causes – objects of providing for depreciation – factors in calculating depreciation - accounting treatment – provision for depreciation - methods of providing depreciation – straight line method – diminishing balance method annuity method – depreciation fund method – theories and problems

Suugested readings

1. Jain ,S.P & Narang K.L : Advanced Aaccountancy
2. Shukla M.C & Grewal T.S : Advanced Aaccountancy
3. M.C Shukla & Grewal : Advanced Aaccountancy
4. S.N.Maheshwary : Introduction Accountancy
5. S.N.Mukherjee & Hanif : Modern accountancy
6. S.P.Iyengar : Advanced Aaccountancy
7. Patil & Korlahalli : Principles & Practice of Accounting


SECOND SEMESTER


The objective of this paper is to help to acquire fundamental knowledge of Accounting & their applications.

UNIT VI: definition – promissory note and bills of exchange – bills receivables and bills payable books – recording of bills transactions – journal and ledger – books of drawer and acceptor – honour and dishonour of bills – renewal of bills under rebate – accomadation bills.

UNIT – VII : Joint ventures – Accounting procedure

UNIT – VIII :Erros and their rectification – TYPES OF ERRORS – RECTIFICATION BEFORE AND AFTER PREPERATION OF FINAL ACCOUNTS – SUSPENSE ACCOUNT – EFFECT OF ERRORS AND THEIR RECTIFICATION ON PROFIT.

UNIT-IX PROVISIONS AND RESERVES
Reserve – reserve ,reserve fund- provision – different types of reserves.

UNIT – X :
Final accounts of a sole trader – trial balance – capital and revenues expenditure and receipts – accounting concepts and conventions relating and receipts – accounting concepts and conventions relating to final accounts – trading account , manufacturing account profit and loss account and balance sheet – Adjusting closing entries.

Suggested readings

1. Jain S.P & Narang K.L : Advanced Accountancy
2. Shukla M.C & G rewal T.S : Advanced Accountancy
3. M.C Shukla & Grewal : Advanced Accountancy
4 S.N. Maheshwary : Introduction to Accountancy
5. S.N.Mukherjee & Hanif : Modern accountancy