Financial Accounting: Nature, Scope and importance of Financial Accounting,

GAAP, Limitations of Accounting, Accounting Principles, Double Entry System,

Journals, Ledger, Rectification of Errors, Bank Reconciliation Statement.
Purchase Book, Sales Book, Cash Book, Three column Cash Book, Trial
Balance, Posting of Entries in Accounts Books. Capital and Revenue:
Classification of Income: Classification of expenditure: Classification of
receipts.

Concept of Contract, Offer and Acceptance; valid contracts and its essential
elements; void agreements; classification of contracts; Quasi contract;
performance of contract; discharge of contract; remedies for breach of
contract. Special Contracts: Indemnity, Guarantee, Bailment, Pledge, and
agency.