Financial Accounting

Financial Accounting Book has been published strictly according to the latest syllabus of Shri Dev Suman Uttarakhand University for B.Com Semester-I

Accountancy is mostly regarded as a difficult subject but the reader of Financial Accounting Book will realise that it is not so, because it has been written in simple language and in most systematic order explaining each and every point at length.

Some of the special features of Financial Accounting Book are:

Chapters on

1. Concept and Accounting of Depreciation
2. Provisions, Reserve and Funds
3. Accounting for Non-Trading Institutions and
4. Hire-Purchase System have been thoroughly revised.

Accounting Philosophy: Many developments have taken place in Accounting Philosophy and International Accounting Standard. An effort has been made to incorporate all such developments in this book. The book includes all the Accounting Standards issued by the Institute of Chartered Accountants of India.
University Examinations: This book adequately satisfies the standard of various Universities. After going through the theory, illustrations and questions of this book, one can easily solve questions of university examinations.
Acquisition of thorough knowledge of Accountancy: A candidate can solve Accountancy questions only when he has confidence and such confidence can be acquired only on the basis of real knowledge of this subject. For this purpose, suitable illustrations have been given to explain various theories, principles, rules and procedures. Selection of practical illustrations and questions
in each chapter and placing them in a systematic order is so reasonable, logical, orderly and scientific that even an ordinary student can acquire real, complete, thorough, latest and up-to-date knowledge of this subject in a very short period of time and without any exertion on his part.
Care has been taken to present the study material in a logical sequence to facilitate easy understanding by the students. Short illustrations have been incorporated in each chapter to explain the concepts/principles dealt with in the chapter. Another helpful feature is the inclusion of the latest examination questions of various universities of Bihar.
In each chapter Short Answer Type Questions, Long Answer Type Questions, Objective Type Questions and Practical Problems with Answers have been given which will help the students in preparing for the examination.

Financial Accounting- I Syllabus Shri Dev Suman Uttarakhand University Tehri (Garhwal) For B.Com. Semester I As Per New Semester System Syllabus w.e.f. 2018-2019

Unit-I: Financial Accounting: Nature of Financial Accounting Principles, Accounting Concepts and Conventions, Accounting assumptions and limitations, Accounting vs. Book keeping, Brief review of Accounting Standards in India, Accounting policies,Valuation Principles, Accounting estimates.

Unit-II: Accounting Process and Subsidiary Books: From Recording of Business Transactions To Preparation of Trial Balance (an Overview Only), Journal, Ledger, Cash Book and Other Subsidiary Books, Bills Of Exchange, Errors and Rectification.

Unit-III: Depreciation Accounting: Introduction, Causes and Factors, Methods for providing Depreciation.

Unit-IV: Final Accounts with Adjustments: Capital and Revenue Expenditures and Receipts;General Introduction, Preparation of Financial Statements: Non-Corporate Business Entities from a Trial Balance, Not-For-Profit Organizations.

Unit-V: Accounting for Hire Purchase and Instalment System: Meaning; Difference With Installment Payment System; Recording of Transaction in The Books of Buyer;Allocation of Interest; Use of Interest Suspense A/C, Partial and Complete Repossession Books of Seller, Stock and Debtors A/C (With Repossession), Books of Seller, H.P, Trading A/C (With Repossession) Concept of Operating and Financial Lease, Basic Concept Only.

Financial Accounting Book Contents

1. Meaning and Scope of Accounting
2. Accounting Principles
3. Accounting Standards In India (With International Accounting Standards & IFRS)
4. Concept of Double Entry System
5. Rules of Debit and Credit: Journal
6. Sub-Division of Journal: Cash Book
7. Sub-Division of Journal: Subsidiary Books
8. Ledger (Including Rules of Posting)
9. Trial Balance
10. Capital and Revenue
11. Adjustments Entries
12. Final Accounts (Manufacturing Account, Trading Account, Profit & Loss Account and Balance Sheet)
13. Rectification of Errors
14. Accounting for Non-Trading Institutions
15. Concept and Accounting of Depreciation
16. Provisions, Reserves and Funds
17. Hire-Purchase System
18. Instalment Payment System
19. Bills of Exchange
20. Accounting of Operational and Financial Lease