ACCOUNTING-I [ACBS2003]

To equip students with basic concepts of accounting. To explain how Accounting process and accounting cycle results in formation of Financial Statements.To introduce different inventory valuation methods to students.To establish learning of Financial assets i.e cash and short-term investments To calculate depreciation using different methods.

1 Introductory Session • Understanding Course Content And Instruction Methodology • Principle Of Accounting
2 Accounting As A Career• Important Accounting Terms And Concepts • Branches And Objects Of Accounting • Book Keeping Vs. Accounting • Accounting Defined • Need And Importance Of Accounting •Accounting And Its Role
3 Difference Between Public And Private Limited Company Importance And Introduction To Financial Statements • Income Statement • Statement Of Cash Flows •Balance Sheet Components Of Financial Statements
4 Accounting Equation Concepts With Practical Examples
5 Practice Questions For Chap1,2, And 3
6 Formation Of Journal , Ledger, Trial Balance.
7 Adjusting Entries ( Converting Assets Into Liabilities)
8 Converting Liabilities Into Income, Accrued Income , Accrued Expenses
10 Closing Of Revenue And Expense Accounts In Income Summary Cash, Cash Equivalents.
11 Bank Reconciliation Statement
12 Inventory Valuation Under FIFO, LIFO
13 Average Cost Method Calculating CGS And Profit Under These Methods
14 Types Of Fixed Assets, Nature Of Revenue And Capital Expenditures, Calculation Of Depreciation Under Straight Line And Diminishing Balance Method.
15 Preparation Of Depreciation Schedule Of Fixed Assets
16 Dollar & Percentage Changes Trend Percentages