Description
Accountancy & Financial Management – I
Major : Mandatory
FYBCOM Semester I
Syllabus (As per NEP 2020) w.e.f. the Academic year 2024-2025
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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