BASIC ACCOUNTING

Hours/Week: 02                                                                                            Exam Hours: 03

Total Hours: 40                                                                                            Exam Marks: 400

OBJECTIVES: To familiarise the students of all the disciplines with the basic concepts of Accounting.

Paper I: Introduction to Accounting, Journal Entries & Ledger Accounts:      10 Hours

• Origin, meaning and objectives of Accounting, Basis of Accounting,
• Systems of Accounting, Classification of Accounts, Identification of accounts,
• Rules of debit and credit, Accounting principles.
• Meaning of Journal & journalising, steps in journaling, passing journal entries for the transactions.
• Meaning of Ledger & posting, Balancing of and Account, Posting journal entries to the ledger Accounts.

Paper II: Subsidiary Books:                                                                                10 Hours

• Meaning, objectives, types- Purchases, sales, sales returns, purchases returns and
• Three column cash book.

Paper III; Trial Balance and rectification of errors and Final Accounts of a Sole trader:                                                                                                                12 Hours

• Meaning, objectives and preparation of Trial Balance, types of errors, location and rectification of errors.
• Final Accounts of a Sole trading concern:
• Meaning, objectives and preparation of Trading, Profit & Loss Account and Balance Sheet.

Paper IV; Accounting for non-trading concern:                                                 08 Hours

• Meaning of non-trading concern, Final Accounts, Capital and Revenue items,
• Preparation of income and expenditure Accounts and balance sheet.

References:

1. Accounting-1     S Raman – United Publishers, Mangalore
2. Accounting-I S Adiga – Shubhadri Books, Udupi