23012_FUNDAMENTALS OF ACCOUNTING

MODULE 1 – INTRODUCTION AND CONCEPTUAL BASIS OF ACCOUNTING

Meaning of Accounting; Objectives of Financial Accounting and Reporting – Users of Financial Accounting Information – Limitations of Accounting –Basic terms in accounting- Accounting Concepts & Conventions, GAAP.

MODULE 2 – FRAMEWORK OF ACCOUNTING

Accounting Cycle – Classification of Accounts (based on Accounting Equation Method) – Process of Journalising – Posting to Ledgers – Preparation of Trial Balance.

MODULE 3 – FINAL ACCOUNTS OF SOLE TRADING CONCERN

Preparation of Final Accounts of a Sole Trade – Meaning of Final Accounts -Trading Account – Meaning, Purpose and Preparation- Profit and Loss Account- Meaning, Purpose and Preparation. Balance Sheet- – Problems on preparation of Trading & Profit & Loss Account and Balance Sheet.