Syllabus

Unit-1: Introduction :Conceptual Framework : Accounting Principle, Concepts and Conventions, Introduction to Accounting Standards and Indian Accounting Standards (AS & Ind AS).
 The Users of Financial Accounting Information and their Needs. Qualitative Characteristics of Accounting, Information. Functions, Advantages and Limitations of Accounting. Branches of Accounting. Bases of Accounting, Cash Basis and Accrual Basis.
 Capital Expenditure (And Receipts), Revenue Expenditure (And Receipts) and Deferred Revenue Expenditure.
Unit-2 : Accounting For Non-Profit Organizations
Unit-3 :Depreciation Accounting and Inventory Valuation: Depreciation : Meaning of Depreciation, Depletion and Amortization, Objective and Methods of Depreciation (Straight Line, Diminishing Balance), Change of Method, Accounting Standards AS-6 (ICAI).
 Inventory Valuation : Meaning, Significance of Inventory Valuation, Inventory Record System-Periodic and Perpetual, Methods of Inventory Valuation FIFO, LIFO and Weighted Average, Accounting Standard 2 (ICAI).
Unit-4 : Accounting For Inland Branches : Concept of Dependent Branches, Accounting Aspects, Stock and Debtors System, Branch Final Accounts System and Whole Sale Basis System. Independent Branches, Concept-Accounting Treatment : Important Adjustment Entries.
Unit-5 : Accounting for Royalty, Hire Purchase and Instalment Payment System
Unit-6 : Insolvency Accounts—Statement of Affairs and Deficiency Accounts
Unit-7 : Accounting for Dissolution of the Partnership Firm
Accounting for Dissolution of the Partnership Firm Including Insolvency of Partners, Sale to a Limited Company and Piecemeal Distribution.

Content

1. Accounting : An Introduction, 2. Accounting Principles : Basic Concepts and Conventions, 3. Financial Accounting Standards, 4. Accounting of Non-Trading or Not-for-Profit Organisations /Institutions, 5. Measurement of Business Income, 6. Depreciation, 7. Valuation of Inventory (Stock), 8. Hire-Purchase System, 9. Instalment Payment System, 10. Branch Accounts, 11.  Dissolution of a Partnership Firm-1, 12. Dissolution of a Partnership Firm-2 (Insolvency of Partners, 13. Dissolution of a Partnership Firm-3 (Gradual Realisation of Assets and Piecemeal Distribution, 14. Sale of Partnership Firm/Conversion into Company.