BSPH2106 Accounting in Pharmacy Merchandizing Credit Hours: 3

Pre-requisite(s): None
Recommendatio This course is recommended as a pre-requisite course for Entrepreneurship
n
This course is an introduction to the basics of accounting concepts and
Course selected accounting practices for pharmacy undergraduate students. The
Description: course provides to gain basic knowledge of accounting to manage
merchandising operations in the pharmacy business.
Objectives Learning Outcomes

This course in Accounting in On successful completion of this course, the students should
Pharmacy Merchandising aims be able to:
to:
 Develop the students Chapter One: Introduction to Accounting
with the knowledge and LO 1 – Explain the basics terms and principles of
accounting
competencies about
 Describe the meaning and scope of accounting and the
basic accounting accounting cycle.
concepts required to  Demonstrate the purpose and benefits of accounting
deal with daily basis specific to pharmacy merchandizing.
financial transactions  Explain the basic term used in accounting and relevant
occurring in the accounting principles such as accounting period
pharmacy business. concept, business entity concept, historical cost concept,
revenue recognition concept and matching concept.

Chapter Two: Recording and Posting in Accounting

LO 2 – Explain how business transactions related to
pharmacy purchase, sales and Chas are recorded and
posted
 Record the transactions in the journal book
 Post the transactions in the ledger book.
 Prepare two column cash books

Chapter Three: Accounting Applications in Computer:

recoding and posting
LO 3 – Apply accounting to record and post the
transactions
 Create and maintain the company information required
by Tally Prime software.
 Prepare Ledgers and record Purchases, Sales, Sales
Returns and Purchase Returns in Tally Prime software.
Chapter Four: Inventory Management
LO 4 –Apply concepts related to managing inventory
transactions
 Define inventory management
 Describe the procurement procedures of purchases,
stores and issues of medicines.
 Calculate the cost of ordering and holding inventory,
and reorder levels.
 Manage inventory losses, wastage, scrap, spoilage and
defectives.

Chapter Five: Accounting Applications in Computer:

inventory management
LO 5 – Apply accounting software to efficiently handles
billing, inventory management, expiry management and
reorder management.
 Create and maintain Inventory Masters in Tally Prime
 Create and maintain stock details in Tally Prime
 Create stock items and enter opening balances in Tally
Prime
 Manage inventory batch-wise in Tally Prime

Chapter Six: Financial Statements and Key Financial

Analysis
LO 6 – Generate Trial Balance, Income Statement and
Balance Sheet in Tally Prime
 Prepare Trial Balance
 Prepare Income Statement
 Prepare Balance Sheet
LO 7 – Calculate key financial ratios for pharmaceutical
companies such as
 Profit Margin
 Inventory Turnover
 Product Mark-up