Business Accounting

Paper Code: 
CBBA 203
Credits: 
4
Contact Hours: 
60.00
Max. Marks: 
100.00
Objective: 

Course Objectives:

• Understand the fundamentals of financial accounting, the principles and concepts underlying them.

• To record the basic journal entries and subsidiary books.

• To memorize how to calculate depreciation by applying various methods.

Course Outcomes (COs):

Learning outcomes

(at course level)

Learning and teaching strategies

Assessment

Strategies

  
 

CO 240: Understand the fundamentals of financial accounting, the principles and concepts   underlying them.

CO 241: To record the basic journal entries and subsidiary books.

CO 242: To memorize how to calculate depreciation by applying various methods.

CO 243: Rectify errors in accounts.

 CO 244: Maintain the financial statement of a business entity.

CO 245: Learn about the journal entries of issue, reissue and forfeiture  of shares

 

Approach in teaching:

 

Interactive Hours using whieboards, Discussion, Reading assignments,  Questioning, Frequent or unannounced quizzes.

 

Learning activities for the students:

Self learning assignments, Effective questions,  presentation, Solving problems of unsolved questions

 

Class test, Semester end examinations, Quiz,  Assignments.

  

 

12.00

Introduction to Financial Accounting- Definition and its usefulness, Scope and Limitations. Users of Accounting Information.
Generally Accepted Accounting Principles- Concepts and Conventions.
Recording of Transactions in Journal. three columns Cash Book , Preparation of Ledger Accounts

12.00
Unit II: 
An overview of Subsidiary books

An overview of Subsidiary books – Purchase Book, Purchase Returns Book, Sales Book, and Sales Returns Book
Introduction to International Financial Reporting Standards (IFRS).
Depreciation Accounting -Methods of charging Depreciation –
Straight-line Method and Written-down-value Method.

12.00
Unit III: 
Bank reconciliation statement

Bank reconciliation statement: Need for reconciliation between Cashbook and bank passbook, problems relating to the preparation of Bank reconciliation statement
Preparation of Trial Balance.
Rectification entries: Classification of Errors, Location of Errors, Rectification of Errors, Suspense Account, Effect on profit

12.00
Unit IV: 
Preparation of Financial Statements

Preparation of Financial Statements: Preparing Trading Account, Profit & Loss Account and Balance Sheet for a Sole Proprietor.
Understanding contents of Financial Statements of a Joint Stock Company as per Companies Act 2013.

12.00
Unit V: 
Issue and Forfeiture of Shares

Issue and Forfeiture of Shares: Introduction, Types of Companies, Types of Shares, SEBI Guidelines on Issue of Shares including Demat Account, Accounting for issue of shares, Right Issue, Bonus issue, Issue of Shares to Vendor, Sweat Equity Shares, Employees Stock Option Scheme (ESOS), Forfeiture and Reissue of Shares.

Essential Readings: 

1. Maheshwari, S. N., An Introduction to Accountancy, Vikas Publishers, New Delhi
2. Mukharjee, A. and Hanif, M., Modern Accountancy, Tata McGraw Hill, New Delhi
3. Sehgal, Ashok and Sehgal, Deepak, Fundamentals of Financial Accounting, Taxmann Allied Services, New Delhi.
4. T.P. Ghosh, Financial Accounting for Managers: Taxmann Allied Services Pvt.Ltd.
5. Jain, Khandelwal and Pareek, Financial Accounting, Ajmera Book Company, Jaipur
6. Tulsian, P.C., Accountancy, Tata McGraw-Hill, New Delhi
7. Goel, D.K. and Goel, Rajesh, Accountancy, Arya Publications, New Delhi
8. Ghosh, T.P., Fundamentals of Accounting, Sultan Chand & Sons, New Delhi

Academic Year: 
2020-2021
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