To gain comprehensive understanding of all aspect relating to financial statement,principles,procedures of accounting and their application to different practical situation. This course aims to test the students ability to:
a) Understand and explain the conceptual framework of Accounting.
b) Prepare accounting for various entities under different situations.
c) Acquire basic concept of cost and management accounting relevant for managerial decision making.
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Meaning and Scope of Accounting
Learning Outcomes: Understand the meaning and significance of accounting,Explain sub-fields of accounting,Explain the limitation of accounting,Basis of accounting,Basic terms of accounting,Understand meaning of book keeping and the distinction of accounting with book keeping, Functions of Accounting,Accounting Cycle.
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Accounting Principles,concepts and conventions
Learning outcomes: Grasp the basic accounting concepts,principles and conventions and observe their implications while recording transactions and events,understand the qualitative characteristics that will help to develop the skill in course of time to prepare financial statement, Identify three fundamental accounting assumptions.
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Capital and Revenue Transactions
Learning outcomes: Criteria for identifying revenue expenditure and distinguish from capital expenditure,distinction between capital and revenue receipts,understand the linkage of such distinction with the preparation of final account.
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Accounting Equation
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Bills of Exchange
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Rectification of Errors
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BRS
Instructor
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