Annexure ‘CD – 01’

FORMAT FOR COURSE CURRICULUM

L T P/S SW/FW No. of TOTAL

Course Title: Financial Accounting-1 PSDA CREDIT
UNITS
Course Code: ACCT103 3 0 0 0 3
Credit Units: 3
Level: UG

Course Objectives:
 To impart basic knowledge of Accounting that learn to record the transaction to prepare financial statements and various types of accounts as per
accounting standards.
 To help students to understand the accounting treatment of various firms.

Pre-requisites: The student must have basic knowledge of accounting and its process.

Course Contents/Syllabus:
Weightage (%)
Module I Conceptual, System & Regulatory frame work 15%

Descriptors/Topics
Basics of Book keeping and Accounting — Meaning, definition, Nature, Functions and its usefulness. Accrual and Cash
basis of Accounting, Branches of accounting. Financial accounting principles, concepts and convention – measurement
of business income, Basic knowledge of Indian Accounting Standards System of Book keeping — Double Entry
System, books of prime entry, subsidiary books, recording of cash and bank.

Module II Final Accounts with adjustments 20%

Descriptors/Topics

Books of Accounts leading to the preparation of Trial Balance., Capital and revenue expenditures. Capital and revenue
receipts. Contingent assets and contingent liabilities. Opening, entries, closing entries, adjustment entries and rectification
 entries. Final Accounts as per revised Schedule- Trading Account, Profit and loss account and Balance sheet, Salient
features of revised AS-6

Module III Accounting for Partnership firms 20%

Descriptors/Topics
Fundamentals of Partnership including all terms and features. Preparation of P&L Appropriation A/c Goodwill and its
valuation method

Module IV Accounting for Partnership firms -Reconstitution 25%

Descriptors/Topics
Changes in Profit Sharing Ratio Revaluation of Assets & Liabilities and re-assessment of liabilities and distribution of
reserves and accumulated profits, Admission of Partner and its effect by showing Accounting treatment, adjustments and
preparation Revaluation of Assets & Liabilities., Retirement and death of a partner: effect of retirement /death of a partner,
effect by showing Accounting treatment, adjustments and preparation Revaluation of Assets & Liabilities. Preparation of
deceased partner's capital account, executor's account and preparation of balance sheet,
Module V Accounting Treatment of various concept of firm 20%

Descriptors/Topics
Fundamentals of Bills of Exchange- distinguish between a bill of exchange and a promissory note, Introduction of different terms
involved in the bill transaction, i.e. term of bill and days of grace, date of maturity, bill after date, negotiation, endorsement, discounting
of bill, dishonour, Bank Reconciliation Statement, Basics knowledge for LLPs, Fundamental errors, including rectifications there
of , Introduction to depreciation & methods of Depreciation-SLM & WDM ,

Course Learning Outcomes:

 Students will be gaining basic knowledge of accounting and the practical usage of the same for taking the important decision for the firm at the end of
the session.
 This subject will enhance the skills of students to get idea about financial statements of the company.

Change in SLO: Not suggested

List of Professional Skill Development Activities (PSDA):

i. Creation of company accounts and Financial Statement & presentation.
ii. Preparing Project/Home Assignment on Financial position of company and partnership with various concept of firms.

Pedagogy for Course Delivery:

The course is covered by adopting a combination of lecture methods ,class presentation by groups of students, self study sessions. Each student is required to do
the back ground reading from the specified chapters of the prescribed book before coming to class. Cases are also to be analyzed, discussed in groups (teams)
outside the class as preparatory work.

Assessment/ Examination Scheme:

Theory L/T (%) Lab/Practical/Studio (%) End Term Examination

50% NA 50%

Theory Assessment (L&T):

Continuous Assessment/Internal Assessment End Term
(____ %) Examination
(___%)
Components (Drop
down) Mid-Term Class test Assignment Presentation Attendance
Exam
Linkage of PSDA with 20% 15% 5% 5% 5% 50%
Internal Assessment
Component, if any
Weightage (%)

Lab/ Practical/ Studio Assessment:NA

Continuous Assessment/Internal Assessment End Term Examination

(____ %) (____ %)

Components (Drop down

Weightage (%)

Text Reading:
 Dr. S.N. Maheswari, Financial Accounting
 BS Raman, Financial Accounting
 Grewal and Gupta, Advanced Accounting
 P.C. Tulasian, Pearson Editions, Introduction to Accounting
 Narang & Narang, Financial Accounting
 Sehgal, A and Sehgal,D “Advanced Accounting”, Part – 1, Taxmann Applied services, New Delhi