Basic Accounting Concepts:
Background of Accounting, concepts – matching, Entity Concept, Cost Concept, Basis of
Accounting – Objectives and necessity; Accounts – Types and classification; basic terms
– Capital, Income, Expenditure, Expenses, Assets, Liabilities and application to
problems.
Journal and Ledger:
Double Entry System; Journal and recording of entries in journal with narration; Ledger –
Posting from Journal to respective ledger accounts.
Bank Reconciliation Statement:
Bank transactions, Preparation of simple bank reconciliation statement.
Trial Balance:
Need and objectives; Application of Trial Balance; different types of errors escaped trial
balance preparation; Rectification of errors.
Depreciation Accounting:
Needs and objectives; concept and application of Fixed and Reducing Installment
method; Application of above methods with purchase and sale of assets with alteration
(excluding retrospective methods).
Final Accounts:
Concept of adjustment; Application of Trading Account and Profit and Loss Account to
get Gross Profit and Net Profit; Application of Balance Sheet with Marshalling;
Application of final accounts problems.