B Com(General and Computer Applications)
SEMESTER-I
Domain Subject: Commerce
Semester-wise Syllabus under CBCS (w.e.f. 2020-21 Admitted Batch)
COURSE1A: FUNDAMENTALS OF ACCOUNTING
Learning Outcomes:
At the end of the course, the student will able to
- Identify transactions and events that need to be recorded in the books
- Equip with the knowledge of accounting process and preparation of final accounts of sole trader.
- Develop the skill of recording financial transactions and preparation of reports in accordance with GAAP.
- Analyze the difference between cash book and pass book in terms of balance and maker conciliation.
- Critically examine the balance sheets of a sole trader for different
- Design new accounting formulas & principles for
Syllabus:
Unit-I – Introduction
Need for Accounting – Definition – Objectives, – Accounting Concepts and Conventions – GAAP – Accounting Cycle – Classification of Accounts and its Rules – Bookkeeping and Accounting – Double Entry Book-Keeping – Journalizing – Posting to Ledgers, Balancing of Ledger Accounts (including Problems).
Unit-II: Subsidiary Books
Types of Subsidiary Books – Cash Book, Three-column Cash Book- Petty Cash Book (including Problems).
Unit-III: Trial Balance and Rectification of Errors:
Preparation of Trial balance – Errors – Meaning – Types of Errors – Rectification of Errors – Suspense Account (including Problems)
Unit-IV: Bank Reconciliation Statement:
Need for Bank Reconciliation – Reasons for Difference between Cash Book and Pass Book Balances- Preparation of Bank Reconciliation Statement – Problems on both Favorable and Unfavorable Balance (including Problems).
Unit -V: Final Accounts:
Preparation of Final Accounts: Trading account – Profit and Loss account – Balance Sheet – Final Accounts with Adjustments (including Problems).
References:
- Ranganatham G and Venkataramanaiah, Fundamentals of Accounting, S Chand Publications
- S.Reddy& A. Murthy, Financial Accounting, Margham Publications
- S N Maheswari and SK Maheswari, Financial Accounting, Vikas Publications
- R L Gupta & V K Gupta, Principles and Practice of Accounting, Sultan Chand & Sons
- P. Jain & K.L Narang, Accountancy-I, Kalyani Publishers
- Tulasian, Accountancy -I, Tata McGraw
- K.Goyal, Financial Accounting, Excel Books
- Arunjothi, Fundamentals of Accounting; Maruthi Publications
- Prof E Chandraiah : Financial Accounting Seven Hills International Publishers
Suggested Co-Curricular Activities:
- Bridge Course for Non-commerce Students
- Practice of Terminology of Accounting
- Quiz, Word Scramble
- Co-operative learning
- Seminar
- Co-operative learning
- Problem Solving Exercises
- Matching, Mismatch
- Creation of Trial Balance
- Visit a firm (Individual and Group)
- Survey on sole proprietorship and prepare final accounts over concern
- Group Discussions on problems relating to topics covered in syllabus
- Examinations (Scheduled and surprise tests)
- Any similar activities with imaginative thinking beyond the prescribed syllabus
