Week

Topics and Readings

Books with Page No.

1

Introduction: Forms of Business enterprises Purpose and Nature of Accounting, Definition (General & Functional), Terms, Various areas of Accounting,

Accounting Information users, GAAP, Conventions.

• Accounting The Basis for Business Decisions

             16th Edition    By Hakka, Bettner, Meigs

4-20

2

Business transactions, Business Entity Concept and its application in accounting equation. Accounting Process:  Recording changes in financial position,

Double entry Accounting system, Rules of Debit & Credit and T Accounts.  Journal the Book of Original Entry, Kinds of Journal, General Journal, Format and Procedure

86-112

3

Ledger Accounts, Chart of Accounts, General, Control and Subsidiary Ledgers. Posting Process, Running form and balancing form. Normal Balances of Various Accounts.  Trial Balance, Concept, Purpose, Method of Posting,

Forms of Trial Balance, Causes of Difference, Rectification methods.  Suspense Account.  Journal, Ledger and Trial Balance (Continued)

113-140

4

The Accounting cycle, Measuring business income, Introduction to Income Statement and Balance Sheet.

Income Statement & Balance Sheet (Continued).  Adjusting process, Systems of Accounting, Main Types of Adjustments,

21-36

5

Accrue Expenses, Prepaid Expenses, Accrued Revenue, And Unearned Revenue. Depreciation, Provision for Discounts, Drawings,

Adjustments: Interest on Capital & Drawings, Income Tax.  Good Distributed as Free Samples, Mutual Indebtedness, Debtors arising out of Dishonor of cheque, Abnormal Loss of Stock, Goods sent of sale or return basis, Interest on loan not yet paid. Closing Stock

141-160

6

Accounts Receivables , Bad Debts Estimation, Ageing, Direct Write off,

Provision For Bad Debts.

161-190

7

Adjusted Trial Balance,  Completion of Accounting Cycle, Work sheet,

Completion of Accounting Cycle, Work sheet (Continued).

190-200

8

Financial Statements, Accounting for merchandize business; Closing Entries & Post Closing Trial Balance

Guest Speaker Session.

Mid Term Examination

192-210

9

Special Journals, and Internal control of Cash transactions, The Cash Book and Banking Accounts.

Cash Book Continued,  Bank Reconciliation Statement

211-230

10

Bank Reconciliation Statement Continued.

Inventories accounting Methods, Nature and Kinds of Inventories, Perpetual and Periodic Inventory System   Inventories accounting Methods, Bin Card, Store Ledger Card,

288-310

11

Specific Costing, fifo, Inventories accounting Methods: fifo, Average Costing, LCM Valuation, Inventories accounting Methods: Gross Profit, Retail Method of Stock Valuation, Year End Shrinkages.

Plant Assets, Depreciation, Methods of Depreciation,

311-340

12

Writing up Asset Account, .Disposal of Plant Assets, Profit & Loss.  Trading off the  Plant Assets. 

Intangible Assets, Amortization and Depletion Methods , Liabilities: Current Liabilities, Accounts Payables,

341-365

13

Notes Payables, Unearned Revenue, Accrued Liabilities.  Liabilities: Long Term Liabilities, Bonds and Debentures.

Partnership: Formation, Division of Income and Partnership: Liquidation process;

430-460

14

Corporation: Organization, Meaning of Stock, Classes of Stock, Issue of Stock, Stock value, Stock Dividend

Treasury Stock, Stock split, Stock holder’s Equity statement, Stock holder’s Equity statement

484-510

15

Bonus and Right Issues.  Measuring Corporation Income, and Earnings Per Share;

Measuring Cash Flows: Sources of Funds, Uses of Funds. Funds Flow Statement.

522-560

16

Classification of cash flows, Statement of Cash Flows (Indirect Method).  Cash Flow Statement (Introduction to Direct Method).

Project Presentations

570-596

----------Final Term Examination----------