Financial Accounting (B.Com)

Accounting concepts, journal to final accounts, depreciation, rectification of errors and accounts of non-profit organisations.

6 MonthsDuration 5Chapters25Topics

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Syllabus · पाठ्यक्रम

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01Unit 1: Accounting Concepts and Process 5 topics

Meaning, objectives and users of accounting
Accounting concepts and conventions (GAAP)
Accounting standards: an introduction
Double entry system and accounting equation
Types of accounts and rules of debit and credit

02Unit 2: Journal, Ledger and Trial Balance 5 topics

Journal entries
Subsidiary books and cash book
Ledger posting and balancing
Trial balance
Bank reconciliation statement

03Unit 3: Depreciation 5 topics

Meaning, causes and need of depreciation
Straight line method
Written down value method
Change of method and disposal of assets
Provisions and reserves

04Unit 4: Rectification of Errors and Final Accounts 5 topics

Types of errors
Suspense account
Rectification before and after trial balance
Trading and profit and loss account
Balance sheet with adjustments

05Unit 5: Accounts of Non-Profit Organisations 5 topics

Capital and revenue receipts and expenditure
Receipts and payments account
Income and expenditure account
Treatment of subscriptions, legacies and special funds
Balance sheet

About

You will be able to

Apply accounting concepts, conventions and rules of debit and credit
Record transactions in the journal, subsidiary books and ledger and prepare a trial balance
Calculate depreciation by straight line and written down value methods
Locate and rectify errors and prepare trading, profit and loss account and balance sheet with adjustments
Prepare receipts and payments account, income and expenditure account and balance sheet of non-profit organisations

Who it is for

B.Com students (General and Accounting & Taxation streams) of Semester 1 under the UP State Universities NEP 2020 syllabus
Students from non-commerce streams who are learning accounts for the first time

What you need

Class 12 pass; Class 11-12 accountancy is helpful but not compulsory

Questions

I never studied accounts in school. Can I cope?

Yes. We start from the accounting equation and debit-credit rules and build up to final accounts with daily practice.

Is Tally taught in this subject?

No, this is a theory paper. Tally is taught in the separate vocational course on computerised accounting.

Which syllabus does the course follow?

It follows the UP State Universities NEP 2020 common minimum syllabus for B.Com. Where your own university's syllabus differs, the centre teaches as per your university syllabus and papers.