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Accountancy

Accountancy

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Published by: anishar90 on Jun 16, 2012
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HIGHER SECONDARY – FIRST YEAR
ACCOUNTANCY
Untouchability is a SinUntouchability is a CrimeUntouchability is Inhuman.
TAMILNADUTEXTBOOK CORPORATION
College Road, Chennai - 600 006.
 
CHAIRPERSON
Dr.
(Mrs)
R. AMUTHA
Reader in CommerceJustice Basheer Ahmed Sayeed College for WomenChennai - 600 018.
REVIEWERS
Dr. K. GOVINDARAJANDr. M. SHANMUGAM
Reader in CommerceReader in CommerceAnnamalai UniversitySIVET CollegeAnnamalai Nagar - 608002.Gowrivakkam,Chennai-601302.
Mrs. R. AKTHAR BEGUM
S.G. Lecturer in CommerceQuaide-Millet Govt. College for WomenAnna Salai, Chennai - 600002.
AUTHORS
Thiru G. RADHAKRISHNANThiru S. S. KUMARAN
S.G. Lecturer in CommerceCo-ordinator, Planning UnitSIVET College (Budget & Accounts)Gowrivakkam, Chennai - 601302.Education for All ProjectCollege Road, Chennai-600006.
Thiru N. MOORTHYMrs. N. RAMA
P.G. Asst. (Special Grade)P.G. AssistantGovt. Higher Secondary SchoolLady Andal Venkatasubba RaoNayakanpettai - 631601Matriculation Hr. Sec. SchoolKancheepuram District.Chetpet, Chennai - 600031.
PREFACE
The book on Accountancy has been written strictly in accordancewith the new syllabus framed by the Government of Tamil Nadu.As curriculum renewal is a continuous process, Accountancycurriculum has undergone various types of changes from time to time inaccordance with the changing needs of the society. The present effortof reframing and updating the curriculum in Accountancy at the HigherSecondary level is an exercise based on the feed back from the users.This prescribed text book serves as a foundation for the basicprinciples of Accountancy. By introducing the subject at the highersecondary level, great care has been taken to emphasize on minutedetails to enable the students to grasp the concepts with ease. Thevocabulary and terminology used in the text book is in accordance withthe comprehension and maturity level of the students.This text would serve as a foot stool while they pursue their higherstudies. Since the text carries practical methods of maintaining accountsthe students could use this for their career.Along with examples relating to the immediate environment of thestudents innovative learning methods like charts, diagrams and tableshave been presented to simplify conceptualized learning.As mentioned earlier, this text serves as a foundation course whichis coupled with sample questions and examples. These questions andexamples serve for a better understanding of the subject.
Questionsfor examinations need not be restricted to the exercises alone
.
Chairperson
©Government of TamilnaduFirst Edition - 2004
Price : Rs.
This book has been prepared by the Directorate of School Educationon behalf of the Govt. of Tamilnadu.This book has been printed on 60 G.S.M. paperPrinted by Offset at :
iii
 
SYLLABUS
1.Introduction to Accounting
 [ 14 Periods ] 
Need and Importance – Book-keeping – Accounting –Accountancy, Accounting and Book-keeping – Users of accounting information – Branches of accounting – Basicaccounting terms.
2.Conceptual Frame work of Accounting
 [ 7 Periods
Basic assumptions – Basic concepts – Modifying principles –Accounting Standards.
3.Basic Accounting Procedures I
 
– Double Entry System of Book-Keeping
 [ 7 Periods
Double entry system – Account – Golden rules of accounting.
4.Basic Accounting Procedures II– Journal
 [ 21 Periods ] 
Source documents – Accounting equation – Rules for debitingand crediting – Books of original entry – Journal – Illustrations.
5.Basic Accounting Procedures III– Ledger
 [ 21 Periods ] 
Meaning – Utility – Format – Posting – Balancing an account –Distinction between journal and ledger.
6.Subsidiary Books I– Special Purpose Books
 [ 21 Periods ] 
Need – Purchase book – Sales book – Returns books – Bills of exchange – Bills book – Journal proper.
7.Subsidiary Books II– Cash Book
 [ 21 Periods ] 
Features – Advantages – Kinds of cash books.
8.Subsidiary Books III– Petty Cash Book
 [ 7 Periods ] 
Meaning – Imprest system – Analytical petty cash book – Format– Balancing of petty cash book – Posting of petty cash book entries – Advantages.
9.Bank Reconciliation Statement
 [ 21 Periods ] 
Pass book – Difference between cash book and pass book –Bank reconciliation statement – Causes of disagreement betweenbalance shown by cash book and the balance shown by passbook – Procedure for preparing bank reconciliation statement –Format.
10.Trial Balance and Rectification of Errors
 [ 21 Periods ] 
Definition – Objectives – Advantages – Methods – Format –Sundry debtors and creditors – Limitations – Errors in accounting– Steps to locate the errors – Suspense account – Rectification of errors.
11.Capital and Revenue Transactions
 [ 7 Periods ] 
Capital transactions – Revenue transactions – Deferred revenuetransactions – Revenue expenditure, Capital expenditure andDeferred revenue expenditure – Distinction – Capital profit andrevenue profit – Capital loss and revenue loss.
12.Final Accounts
 [ 22 Periods ] 
Parts of Final Accounts – Trading account – Profit and loss account– Balance sheet – Preparation of Final Accounts.
viv

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