Other university, General , Financial Accounting Syllabus

                                                                                                                      Financial Accounting 

Unit 1 (a): Theoretical Frame work
i. Accounting as an information system , the user of financial accounting information and
their needs. Qualitative characteristics of accounting information. Functions of
accounting.
ii. The nature of financial accounting principles- Basic Concepts and Conventions, Salient
features of Accounting Standard.

(b) Accounting Process
From recording of a business transaction to preparation of trial balance including adjustments: Capital
and Revenue expenditure & receipts. Preparation of trial balance, Profit and Loss Account and Balance
Sheet (Sole Proprietorship only)

Unit II (a) Business Income
i. Measurement of Business Income- Net Income : Accounting period, the continuity
doctrine and matching concept
ii. Revenue: Concept, revenue recognition principles, recognition of expenses

(b) Preparation of financial statements of not for profit organizations

Unit III: Accounting for Hire Purchase and Consignment.
i. Accounting for hire purchase transactions, journal entries, ledger accounts in the books
of Hire Vendor and Hire Purchaser for large value
ii. Consignment : Features, Accounting treatment in the books of consignor and consignee.
 

Unit IV: Accounting for Inland Branches
Inland Branches, Dependent Branches only and Ascertainment of profit by Debtors Method

Unit V: Accounting of Dissolution of Partnership firm
Simple dissolution, Insolvency of all partners