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    NEP FA Syllabus

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    NEP FA Syllabus

    Uploaded by

    Srijan
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    13 views2 pages

    NEP FA Syllabus

    Uploaded by

    Srijan

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    GURU GOBIND SINGH INDRAPRASTHA UNIVERSITY, DELHI

    BACHELOR OF COMMERCE (B.Com. Honours)

    B.COM 101 - FINANCIAL ACCOUNTING © L-3, T-0 Credits -3

    Objective: The course aims to impart basic conceptual knowledge on financial accounting with the purpose of recording day to day business
    transactions using computerized accounting systems. The course will also train Students to prepare financial statements and publish annual
    accounts of the organization.

    Learning Outcomes:
    After completion of the course, Students will be able to:
    CO1. Apply the generally accepted accounting principles while recording transactions and preparing financial statements
    CO2. Comprehend the complete accounting process using computerized accounting system
    CO3. Measure business income accurately after applying all relevant accounting standards
    CO4. Examine the Accounting standards governing Inventory and Depreciation and assess their impact on business income
    CO5. Prepare all final financial statement necessary for financial audit of a business
    CO6. Understand the implications of contemporary issues in Accounting

    COURSE CONTENTS:
    Unit 1: Basic Concepts of Accounting (14 Hours)
    Accounting Functions and limitations. Financial accounting principles: Meaning and need; Concepts and Conventions of Accounting, Introduction
    to Generally Accepted Accounting Principles, Accounting standards (Overview of IAS, IFRS, AS and Ind AS), Accounting Process - Recording of
    a business transaction – ledgers, vouchers and preparation of Trial Balance with adjustments.

    Unit 2: Accounting Systems (14 Hours)


    Application of Generally Accepted Accounting Principles in recording financial transactions and preparing financial statements. Accounting
    treatment of Inventory, Preparation of Cash Book and Bank Reconciliations, Profit and Loss Account, Balance Sheet with adjustments (including
    for Non Corporate Entities), Cash Flow Statement.

    Unit 3: Business Income, Accounting for Depreciation, and Inventory Valuation (14 Hours)
    Measurement of Business income, Revenue recognition, Accounting for Depreciation – Methods and Policy, Changes in Depreciation measures
    and impact on measurement of business income. Inventory valuation through Accounting Standards. Impact of inventory valuation on
    measurement of business income. Capital and revenue expenditures and receipts. Introduction to Deferred Revenue Expenditure.

    Unit 4: Accounting for Capital and Contemporary issues in Accounting (14 Hours)
    Introduction to contemporary issues in Accounting – Human Resource Accounting, Inflation Accounting, Green Accounting and Accounting for
    CSR and Sustainability.

    Suggested Readings:
    1. Anthony, R. N., Hawkins, D., & Merchant, K. A. Accounting: Text and Cases. New York: McGraw-Hill Education India.
    2. Maheshwari, S.N. & Maheshwari, S.K. Financial Accounting. New DELHI: Vikas Publishing House Pvt. Ltd.
    3. Lal, J., & Srivastava, S. Financial Accounting Text & Problems. Mumbai: Himalaya Publishing House.
    4. Monga, J. R. Financial Accounting: Concepts and Applications. New DELHI: Mayur Paperback Publishing.
    5. Shukla, M. C., Grewal, T. S., & Gupta, S. C. Advanced Accounts. Vol.-I. New DELHI: Sultan Chand Publishing.
    6. Goldwin, N., Alderman, W., & Sanyal, D. Financial Accounting. Boston: Cengage Learning.
    7. Tulsian, P.C. Financial Accounting. New DELHI: Tata McGraw Hill

    Note: Latest editions of the books must be used

    Recommended Projects: Students may be encouraged to attempt the following for enhanced learning

    ● Analysis of the ‘Framework for the Preparation and Presentation of Financial Statements’ from relevant websites
    ● Exploring the balance sheets of business organizations to study the nuances of the various heads and their inherent implications.
    ● Examining the accounting policies and procedures of a small business by using its current data.
    ● Prepare Trading and Profit & Loss Account and Balance Sheet collecting a sample of necessary data from small business firms manually and
    using appropriate software.

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