semester end examination – 60 marks attendance/participation/work sheets – 10 marks class test...
TRANSCRIPT
Semester End Examination – 60 Marks
Attendance/Participation/Work Sheets – 10 Marks
Class Test – 15 Marks
Presentations – 15 Marks
Framework of Financial Accounting Financial Statements Fixed Assets and Depreciation
Accounting Inventory Valuation Ratio Analysis Inflation Accounting Basics of Auditing
Financial Accounting – S.N. Maheshwari
Financial Accounting, A Managerial Perspective – R Narayanaswamy
Financial Accounting – The ICFAI University
Industry Analysis
1. Introduction of the Sector2. Major companies in the Sector3. Market Share of various companies4. Past trend of the sector – 5 years5. News related to the Sector6. Future of the Sector
Presentation should not exceed 15 mins.
Recording, classifying and summarizing of past events & transactions
Historical in nature
Facts & figures
Preparation of Financial statements
It shows classification & analysis of costs on the basis of functions, processes & products.
It deals with cost computation, costs saving, cost reduction.
It involves : Accounting for social costs
Accounting for social benefits created & reporting thereof
According to the American Institute of Certified Public Accountants
“The art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character & interpreting the results thereof”.
Identification of Transactions & Events
Recording of Transactions in a Journal
Posting of Journal Entries in Ledger
Summarize by preparing Trial Balance, Profit/Loss A/C, Balance Sheet
Analyze and Communicate the results to Users
Accounting policies refer to the
specific accounting principles and the methods of applying those principles adopted by the enterprise in the preparation and presentation of financial statements.