Financial Accounting Including Computerised Accounts

• Present revised and enlarged edition of the book has been prepared strictly as per New Revised Syllabus effective from Academic Session 2021-22 for B.Com. First Year of various universities of Madhya Pradesh.

Financial Accountancy is mostly regarded as a difficult subject but the reader of this 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 this book are :

• The book has been thoroughly revised.
• 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.
• The most unique feature of the book is the inclusion of Computerised Accounting System in the book. The whole syllabus of Unit 6 on Computerised Accounts by using popular accounting system has been divided into 5 different chapters covering all topics of the syllabus and each and every topic has been explained in details by using the most popular accounting software “TALLY.ERP 9”. Further at the end 174 multiple choice questions on Computerised Accounting System with Answers have been given which would help the students to understand the subject easily.
• In each chapter of the book final accounts have been closed on 31st March only.
• In each chapter Short Answer Type Questions, Long Answer Type Questions, Objective Type Questions and Practical Problems with Answer have been given.

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.

Financial Accounting Including Computerised Accounts Syllabus For B.Com I Year of Awadhesh Pratap Singh University Rewa, Barkatullah University Bhopal, Dr. Harisingh Gour University Sagar, Rani Durgavati Vishwavidyalaya Jabalpur, Vikram University Ujjain

Part A Introduction

Program: Certificate B.Com. First Year  Session 2021-11
Subject: Commerce
Course Code: C1-COMA1T
Course Title: Financial Accounting
Course Type: Core
Pre-requisite: Not required open for all
Course Learning Outcomes: Successful completion of this course, the student will be able to :

• Acquire conceptual knowledge of basics of accounting
• Identify events that need to be recorded in the accounting records
• Develop the skills of recording financial transactions and preparation of reports in accordance with GAAP
• Describe the role of accounting information and its limitations
• Equip with the knowledge of accounting process and preparation of in accounts of sole trader
• Identify and analyze the reasons for the difference between cash book and pass book balances
• Recognize circumstances providing for increased exposure to errors and frauds.

Unit Total No. of Lectures (in hours per week)-3, Total lectures: 90 No. of
lectures

1. Accounts: Indian History, Definition, Objectives, Basics Concept and Principals of Double Entry System, Journal Entry, Ledger, Subsidiary books, Trial Balance, Introduction to Indian Accounting Standard, Final Accounts.
2. Accounting for Depreciation (According to Accounting Standard-6), Branch Accounts.
3. Royalty Accounts, Departmental Accounts.
4. Accounting of Non-Profit Organisation, Investment Account, Consignment Accounts.
5. Partnership Accounts: Dissolution of Partnership (with Insolvency), Amalgamation of Partnership Firms, Conversion of Partnership firm into joint-stock Company.
6. Computerized Accounts by using any popular accounting software, creating a company, configure and features set, creating accounting ledgers and groups, creating stock items and groups, vouchers entry (with the maintenance of vouchers), generating report – cash book, ledger accounts, trial balance, profit, and loss account and balance sheet.
   Keywords/Tags: financial A/c, Depreciation, Accounting Standard, branch a/c, royalty a/c, partnership a/c, Computerized Accounts.

Financial Accounting Book Contents

1. Introduction To Accounting
2. Concept Of Double Entry System
3. Accounting Concepts And Conventions
4. Preparation Of Journal
5. Journal Entries Of G.S.T
6. Sub-Division Of Journal : Cash Book
7. Sub-Division Of Journal : Subsidiary Books
8. Preparation Of Ledger
9. Preparation Of Trial Balance
10. Final Accounts
11. Introduction To Indian Accounting Standards [Including International Financial Reporting Standards (IFRS)And Indian Accounting Standards]
12. Accounting For Depreciation
13. Branch Accounts
14. Departmental Accounts
15. Royalty Accounts
16. Accounting Of Non-Profit Organisations
17. Consignment Accounts .
18. Investment Accounts
19. Dissolution Of Partnership Firm-1
20. Dissolution Of Partnership Firm-2 (With Insolvency Of Partner)
21. Piecemeal Distribution
22. Amalgamation Of Partnership Firms
23. Conversion Of Partnership Firm Into Joint Stock Company
    Computerised Accounts
24. Computerised Accounting System
25. Popular Accounting Software Tally.Erp 9
26. Group, Ledger, And Vouchers Entry
27. Inventory Features (Stock Group And Creating Stock Items And Accounting Vouchers)
28. Generating Reports

• Objective Type Questions With Answer Based on Computerised Accounts