Description

Accountancy & Financial Management – I

1. Introduction to Accounting Concepts and

Accounting Standards 15 Hours

♦ Accounting Concepts and Conventions

♦ Meaning and Classification – Capital, Revenue : Expenditure and Receipts, Profit and Loss

♦ Accounting Standard (AS) and Ind-AS and IFRS – An Introduction, Concepts and Benefits

♦ AS-1 : Disclosure of Accounting Policies

♦ AS-2 : Valuation of Inventories

♦ AS-9 : Revenue Recognition

♦ Inventory Valuation and Experiential Learning – Physical Stock Taking Activity and Recording

♦ Practical Problems on Preparation of Stock Ledger Account using First in First Out (FIFO Method) and Weighted Average Cost Method

♦ Short Practical Problems on Valuation of Inventory as per AS 2

2. Final Accounts of Manufacturing Concern 15 Hours

♦ Introduction and Meaning

♦ Final Accounts of Manufacturing Concern (Proprietary Firm)

♦ Closing and Adjustment Entries in Final Accounts of Manufacturing Concern

♦ Preparation of Trading Account, Manufacturing Account, Profit and Loss Account and Balance Sheet

(Note: For Semester End Examination not more than 5 adjustments to be asked in one practical problem.)

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