Business Accounting (Theory)

Introduction to Financial Accounting, GAAP & IFRS: Introduction to Financial Accounting- Definition and its usefulness, Scope and Limitations. Users of Accounting Information.

Generally Accepted Accounting Principles- Concepts and Conventions. Introduction to International Financial Reporting Standards (IFRS).

Recording of Transactions in Journal.

An overview of Subsidiary books, Preparation of Ledger Accounts & Trial Balance

An overview of Subsidiary books – Cash Book, Purchase Book, Purchase Returns Book, Sales Book, and Sales Returns Book Preparation of Ledger Accounts & Trial Balance.

Depreciation Accounting -Methods of charging Depreciation – Straight-line Method and Written-down-value Method.

Bank reconciliation statement & Rectification entries:

Bank reconciliation statement: Need for reconciliation between Cashbook and bank passbook, problems relating to the preparation of Bank reconciliation statement

Rectification entries: Classification of Errors, Location of Errors, Rectification of Errors, Suspense Account, Effect on profit.

Preparation of Financial Statements: Preparing Trading Account, Profit & Loss Account and Balance Sheet for a Sole Proprietor.

Issue and Forfeiture of Shares: Introduction, Types of Companies, Types of Shares, SEBI Guidelines on Issue of Shares including Demat Account, Accounting for issue of shares, Right Issue, Bonus issue, Issue of Shares to Vendor, Sweat Equity Shares, Employees Stock Option Scheme (ESOS), Forfeiture and Reissue of Shares.