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Introduction to Financial Accounts – Revised FYBMS Syllabus 2016

FYBMS, Syllabus

Introduction to Financial Accounts – Revised FYBMS Syllabus 2016

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Introduction to Financial Accounts – Revised FYBMS Syllabus 2016

Modules at a Glance

Sr. No. Modules No. of Lectures
1 Introduction 15
2 Accounting Transactions 15
3 Depreciation Accounting & Trial Balance 15
4 Final Accounts 15
Total 60

Introduction to Financial Accounts – Syllabus

Sr. No. Modules / Units
1 Introduction
  • Meaning and Scope of Accounting: Need and development, definition: Book-Keeping and accounting, Persons interested in accounting, Branches of accounting, Objectives of accounting
  • Accounting principles: Introductions to Concepts and conventions.
  • Introduction to Accounting Standards: Meaning and Scope)
  • AS 1 : Disclosure to Accounting Policies
  • AS 6: Depreciation Accounting.
  • AS 9: Revenue Recognition.
  • AS 10: Accounting For Fixed Assets.
  • International Financial Reporting Standards (IFRS): Introduction to IFRS
  • IAS-1:Presenttion of Financial Statements (Introductory Knowledge)
  • IAS-2:Inventories (Introductory Knowledge)
  • Accounting in Computerized Environment: Introduction, Features and application in various areas of Accounting
2 Accounting Transactions
  • Accounting transactions: Accounting cycle, Journal, Journal proper, Opening and closing entries, Relationship between journal & ledger: Rules regarding posting: Trial balance: Subsidiary books (Purchase, Purchase Returns, Sales, Sales Returns & cash book –Triple Column), Bank Reconciliation Statement.
  • Expenditure:Classification of Expenditure- Capital, revenue and Deferred Revenue expenditureUnusual expenses: Effects of error: Criteria test.
  • Receipts: Capital receipt, Revenue receipt, distinction between capital receipts and revenue receipts.
  • Profit or Loss: Revenue profit or loss, capital profit or loss
3 Depreciation Accounting & Trial Balance
  • Depreciation accounting: Practical problem based on depreciation using SLM and RBM methods. (Where Provision for depreciation Account not maintained).
  • Preparation of Trial Balance:Introduction and Preparation of Trial Balance
4 Final Accounts
  • Introduction to Final Accounts of a Sole proprietor.
  • Rectification of errors.
  • Manufacturing Account, Trading Account, Profit and Loss Account and Balance Sheet.
  • Preparation and presentation of Final Accounts in horizontal format
  • Introduction to Schedule 6 of Companies Act ,1956

 

Reference Books for Subject: Introduction to Financial Accounts 
 
  • Financial Accounts (a managerial emphasis): By Ashok Banerjee – Excel books
  • Fundamental of Accounting and Financial Analysis : By Anil Choudhary (Pearson education)
  • Indian Accounting Standards and IFRS for non-financial executives : By T.P. Ghosh– Taxman
  • Financial Accounting for Business Managers: By Ashish K. Bhattacharya.
  • Introduction to Accountancy by T.S.  Grewal, S. Chand and Company (P) Ltd., New Delhi
  • Advance Accounts by Shukla and Grewal, S. Chand and Company (P) Ltd., New Delhi
  • Advanced Accountancy by R.L Gupta and M. Radhaswamy, S. Chand and Company (P) Ltd., New Delhi
  • Modern Accountancy by Mukherjee and Hanif, Tata Mc. Grow Hill and Co. Ltd., Mumbai
  • Financial Accounting by LesileChandwichk, Pentice Hall of India AdinBakley (P) Ltd., New Delhi
  • Financial Accounting for Management by Dr. Dinesh Harsalekar, Multi-Tech. Publishing Co. Ltd., Mumbai
  • Financial Accounting by P.C. Tulsian, Pearson Publications, New Delhi
  • Accounting Principles by R.N. Anthony and J.S. Reece, Richard Irwin, Inc
  • Financial Accounting by Monga, J.R. Ahuja, GirishAhuja and Ashok Shehgal, Mayur Paper Back, Noida
  • Compendium of Statement and Standard of Accounting, ICAI
  • Indian Accounting Standards, Ashish Bhattacharya, Tata Mc. Grow Hill and Co. Ltd., Mumbai
  • Financial Accounting by Williams, Tata Mc. Grow Hill and Co. Ltd., Mumbai
  • Company Accounting Standards by ShrinivasanAnand, Taxman, New Delhi
  • Financial Accounting by V. Rajasekaran, Pearson Publications, New Delhi
  • Introduction to Financial Accounting by Horngren, Pearson Publications, New Delhi
  • Financial Accounting by M. Mukherjee and M. Hanif, Tata McGraw Hill Education Pvt. Ltd., New Delhi
  • Financial Accounting a Managerial Perspective, Varadraj B. Bapat, MehulRaithatha, Tata McGraw Hill Education Pvt. Ltd., New Delhi

 

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