Fundamentals of Accounts

Paper Code: 
24CDMK 302
Credits: 
4
Contact Hours: 
4.00
Max. Marks: 
100.00
Objective: 

This course will enable the students to apply accounting rules in preparation of financial statements and various management accounting techniques for taking strategic decisions in the organizations.

Course Outcomes: 

Course

Learning outcomes

(at course level)

Learning and teaching strategies

Assessment

Strategies

Course Code

Course Title

24CDMK 302

Fundamentals of Accounts

 

 
  • CO 88: Explain the fundamentals of management accounting and construct Journal Entries, Ledger, Trial Balance, Financial statements in accordance with Generally Accepted Accounting Principles.

 

  • CO 89: Explain elements of cost and develop analytical skills to prepare comprehensive cost sheets.

 

  • CO 90: Analyse and interpret the quantitative data presented within a company's Financial Statements by employing the techniques of financial statement analysis.

 

  • CO 91: Evaluate financial performance through ratio analysis.

 

  • CO 92: Contribute effectively in course-specific interaction.

Approach in teaching:

Interactive Hours using whiteboards, Case discussions

Group Discussions

Brainstorming, Reading Assignments

 

Learning activities for the students:

Self-learning assignments, Chart Preparation, PPTs, Group Discussions

 

Formative Assessment through group discussion, quiz, presentations,

Class tests

Summative assessment through Quiz, Semester end examination, Assignments, Presentation, Individual and group projects

 

12.00
Unit I: 
Introduction to Management Accounting:

Nature and Purpose of Management Accounting, Generally Accepted Accounting Principles. Concept of Green Accounting.
Elementary Financial Accounting:
Journal Entries, Ledger, Trial Balance, Preparation of Final Accounts of sole proprietor (with basic adjustments only)

12.00
Unit II: 
Financial Statement Analysis:

Meaning and Importance of Financial Analysis, Types of financial analysis – Horizontal, Vertical, Internal and External. Tools of financial analysis – Comparative statements, common size statements and trend analysis.

12.00
Unit III: 
Ratio Analysis:

Meaning, Significance and Limitations of Ratio Analysis, Calculation & Interpretation of Liquidity Ratios, Solvency Ratios, Turnover Ratios, Profitability Ratios and Investment Ratios.

12.00
Unit IV: 
Basic Concepts of Cost Accounting:

Meaning & Definition of Cost Accounting, Cost Unit, Types of Cost Unit, Cost Centre, Elements of Cost – Material, Labour and Expenses. Preparation of Cost Sheet.
Similarities and difference between Cost Accounting, Financial Accounting and Management Accounting.

12.00
Unit V: 
Cost- Volume- Profit Analysis:

Meaning, Concept of Marginal Costing, Utility and Limitations of CVP.
Break- Even Analysis, Profit Volume Ratio and Margin of Safety.

Essential Readings: 

1.Anthony, Hawkins & Merchant, Accounting: Text and Cases, Tata McGraw Hill Education, 2010.
2.M Y Khan& P K Jain, Managerial Accounting, Tata McGraw Hill Publication,6th Edition, 2017.
3. Narayanaswamy R., Financial Accounting: A Managerial Perspective, PHI, 6th Edition, 2017

Academic Year: 
2024-2025
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