Financial Accounting For Sri Dev Suman Uttarakhand University

The book has been prepared strictly according to the new syllabus for B.Com. First Semester effective from academic session 2022-23 for Sridev Suman Uttarakhand University, New Tehri, Garhwal.

Some of the special features of this book are :

• A new chapter on Journal Entries of G.S.T. has been included in the book so that students may study the accounting of G.S.T.
• Chapters on Hire-Purchase System, Instalment Payment System, Royalty Accounts and Insolvency Accounts have been thoroughly revised and enlarged.
• In each chapter of the book final accounts have been closed on 31^st March only.
• In each chapter Descriptive Answer Type Questions, Short Answer  Type Questions and large number of M.C.Q. with Answer have been given.

After going through the theory, illustrations and questions of this book, one can easily solve questions of university examinations.

Financial Accounting Syllabus For B.Com. Ist Semester of Sridev Suman Uttarakhand University, New Tehri, Garhwal

• Unit-I : Shri Kalyan Subramani Aiyar (K.S. Aiyar) 1859-1940 known as father of Accountancy in India.
  Nature and scope of Accounting, Generally Accepted Accounting Principles : Concepts and Conventions, Indian and International Accounting Standards. Accounting Mechanics.
• Unit-II : Double Entry System, Preparation of Journal, Ledger and Trial Balance, Profit and Loss A/c, Balance Sheet, Concept of Income and its Measurement.
• Unit-III : Royalty Accounts—Accounting Records for Royalty in the books of Landlords and Lessee, Recoupment of Short working, Sub-lease, Short working Reserve Account, Nazarana.
• Unit-IV : Hire Purchase Accounts—Accounting Records in the Books of Hire Purchaser and Vendor, Different Methods of Calculation of Interest and Cash Price, Maintenance of Suspense Account, Payment of Premium, Default in Payment and Partial Returns of Goods. Installment Payment System—Difference between Hire Purchase and Installment Payment System. Accounting Records in the book of Purchaser and Vendor, Interest suspense account.
• Unit-V : Departmental Accounts—Meaning, Objects and Importance, Advantage, Methods of Departmental Accounts, Final Accounts of Non-Corporate Departmental Business, Allocation of Indirect Expenses.
• Unit-VI : Branch Accounts—Meaning and Objectives of Branch Account, Importance and Advantages, Classification of Branches, Accounting of Branch Accounts under various Methods.
• Unit-VII : Insolvency Accounts—(For individuals / Sole Trade only), Main provision of IBC-2016 Preparation of Accounts under latest provisions Insolvency and Bankruptcy Code 2016 (New Insolvency Act). 15 Lectures
• Unit-VIII : Accounts from Incomplete Records—Receipts & Payments, Income & Expenditure Account.

Contents

1. Shri Kalyan Subramani Aiyar (1859-1940) (Father Of The Accountancy Profession In India)
2. Nature And Scope Of Accounting
3. Generally Accepted Accounting Principles : Concepts And Conventions
4. Indian And International Accounting Standards
5. Concept Of Double Entry System
6. Preparation Of Journal
7. Journal Entries Of G.S.T.
8. Sub-Division Of Journal : Cash Book
9. Ledger (Including Rules Of Posting)
10. Trial Balance
11. Final Accounts (Profit & Loss Account And Balance Sheet)
12. Concept Of Income And Its Measurement
13. Hire-Purchase Accounts
14. Instalment Payment System
15. Branch Accounts
16. Royalty Accounts
17. Insolvency Accounts
18. Voyage Accounts
19. Departmental Accounts
20. Accounts From Incomplete Records
    [Receipts And Payments, Income And Expenditure Account]