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Basic Accounting Concepts
Background of accounting and accountancy: knowledge and understanding of accounting concepts - matching entity accounting, cost concept; basis of accounting - objectives and necessity; accounts - types and classification; basic terms - capital income and expenditure, expenses, assets, liabilities; assignment and application to problems.
Journal and Ledger
(i) Journal accounting concept: recording of entries in journal with narration.
(ii) Double entry system.
(iii) Ledger: posting from journal to respective ledger.
Cash Book and Bank Reconciliation Statement
(i) Cash book (including petty cash book): single column; double column; triple column.
(ii) Application of cash book.
(iii) Bank reconciliation statement. (iv) Application of bank reconciliation statement with amended cashbook.
Trial Balance, Rectification, Capital and Revenue Expenditure/Income
(i) Trial balance with needs and limitations.
(ii) Application of trial balance.
(iii) Errors and types of errors: errors of omission; errors of commission; errors of principles; compensating errors.
(iv) Rectification with suspense a/c.
(v) Capital and revenue expenditure/income.
Depreciation, Provision for Bad and doubtful
Debts and Provision for Discounts
(i) Depreciation needs and objectives.
(ii) Methods of charging depreciation (straight line and WDV method).
(iii) Application of depreciation with the above mentioned methods: problems with purchase and sale of assets; current and retrospective change of method.
(iv) Bad debts, provision for bad and doubtful debts, provision for discount on debtors and provision for discount on creditors.
(v) Applications of provision for bad and doubtful debts and provision for discount on debtors and creditors; treatment in Profit and Loss a/c and Balance Sheet.
Final Accounts and Manufacturing Accounts
(i) Concept of adjustment.
(ii) Concept of Manufacturing Accounts i.e. to find out the cost of manufacturing.
(iii) Application of profit and loss account i.e. to find out the net profit.
(iv) Marshalling of a Balance Sheet: Order of liquidity and order of permanence.
(v) Application with Final Accounts problems.
(vi) Application of Manufacturing Accounts.
Bills of Exchange
(i) Introduction of Bills of Exchange: explanation of basic terms.
(ii) Application to practical problems/exercises.
Single Entry
(i) Single entry and difference with double entry.
(ii) Ascertainment of profit/loss by statement of affairs method.
(iii) Application to Problems.
(iv) Conversion into double entry system.
(v) Application under conversion method.
Non Trading Organisation
(i) Non trading organization: objectives and necessity.
(ii) Different books maintained and differences between them.
(iii) Application of non-trading exercises involving: preparation of receipts and payments account; income and expenditure account and opening and closing balance sheet.
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