Introduction to Book Keeping and Accountancy
- Book keeping
- Process of book keeping
- Accountancy
- Difference between book keeping and accountancy
- Accounting as science and art
- Objective of book keeping and accountancy
- Advantages of book keeping and accountancy
- Basic accounting terminology
Basic Accounting Concepts
- Meaning of gaap
- Business entity concept
- Money measurement concept
- Going concern concept
- Accounting period concept
- Dual aspects concept
- Double entry system characteristics advantages disadvantages
Documents and Accounting Equation
- Origin of transaction
- Source documents or vouchers
- Accounting voucher and its types
- Accounting equation
- Analysis of transactions
- Computation classification of transactions
Rules of Debit and Credit Journal
- The concept of debit and credit
- Definition of debit and credit
- Books of original entry
- Rules of debit and credit accounting equation approach modern American approach
- Traditional rules of debit and credit English approach
Non Cash Transactions Subsidiary Books
- Subsidiary books or sub division of journal
- Classification cash transactions
- Special journal
- Journal proper or general journal
- Opening and closing journal entries
Ledger Accounts
- Balancing of ledger accounts
- Classification of ledger accounts
- Distinction between journal and ledger
- Importance or advantages of ledger accounts
- Ledger posting from cash book
- Ledger posting from journal entries
- Ledger posting from purchases book
- Ledger posting from sales book
- Meaning of ledger accounts
- Summary of rules of posting form subsidiary books
- Theoretical questions on ledger accounts
Trial Balance
- Meaning of trial balance
- Special features of trial balance
- Limitations of trial balance
- Methods of preparing trial balance
- List of important accounts and balances
Final Accounts (without Adjustments)
- Balance sheet in final accounts without adjustments
- Difference between profit and loss accounts and balance sheet
- Features or characteristics balance sheet
- Limitations of final accounts or financial statements
- Meaning of financial statements or final accounts
- Need or importance and purpose of trading account
- Need or purpose and importance of profit and loss account
- Performa of balance sheet
- Performa profit loss account
- Performa of trading account
- Points to be considered before creating balance sheet
- Profit and loss account final accounts without adjustments
- Trading account final accounts without adjustments
Final Accounts (with Simple Adjustments)
- Adjustments additional information in preparation of final accounts
- Depreciation in the value of assets
- Appreciation in the value of assets
- Outstanding expenses
- Prepaid expenses
- Accrued or outstanding expenses
- Unearned income
- Interest on capital
- Interest on drawings
- Interest and dividend on investment
- Interest on loan
- Bad debts not in adjustment
- Provision for bad and doubtful debt adjustment
- Further bad debts adjustment
- Provision for bad and doubtful debts given in the trial balance
- Provision for discount on debtors
- Closing stock
- Summarized presentation of adjustments
- Theoretical questions final account
Bank Reconciliation Statement and Three Column Cash Book
- Meaning of bank reconciliation statements
- Need and importance of bank reconciliation statements
- Preparation of bank reconciliation statements
- Steps for preparation of bank reconciliation statements
- Important notes and explanations regarding preparation
- Cash book with discount column
- Cash book with discount and bank column or three column cash book
Bills of Exchange
- Bills of exchange concept of bills of exchange
- Promissory note
- Accounting treatment of bills of exchange
- Endorsement of the bill
- Discounting of the bill
- Retiring a bill under rebate
- Dishonour and noting of the bill
- Renewal of the bill
- Part payment of the bill
Errors and Their Rectification
- Errors affecting or disclosed by trial balance introducing the concept
- Errors omission and errors of commission
- Errors in the subsidiary books and their rectification
- Errors of principle
- Treatment of capital or revenue expenditure
- Treatment proprietors withdrawal
- Errors recording incorrect subsidiary books
Depreciation
- Meaning of depreciation
- Depreciation features causes objectives factors
- Fixed or equal installment or straight line method or depreciation on original cost
- Advantages and disadvantages of straight line method
- Diminishing or reducing or written down value method
- Difference between straight line and diminishing balance method
- Depreciation review questions depreciation
