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Book Keeping & Accounting

This document outlines the aims and content of a course on book keeping and accounting. The course aims to teach students the principles and practices of book keeping as well as procedures for general, financial, and cost accounting. The course covers topics such as transactions, entry systems, accounts, journals, ledgers, cash books, trial balances, final accounts, cost accounting, financial accounting, depreciation, and public works accounts.

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kunjap
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3K views3 pages

Book Keeping & Accounting

This document outlines the aims and content of a course on book keeping and accounting. The course aims to teach students the principles and practices of book keeping as well as procedures for general, financial, and cost accounting. The course covers topics such as transactions, entry systems, accounts, journals, ledgers, cash books, trial balances, final accounts, cost accounting, financial accounting, depreciation, and public works accounts.

Uploaded by

kunjap
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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BOOK KEEPING & ACCOUNTING

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AIMS
To be able to understand the principles and practices of book keeping and
accounting.
To be able to understand the procedures of general accounting, financial
accounting and their applications.
SHORT DESCRIPTION
Concept of book keeping and accounting; Transactions; Entry systems; Accounts;
Journal; Ledger; Cash book; Trial balance; Final accounts; Cost account & financial
accounting; Depreciation; Public works accounts.
DETAIL DESCRIPTION
1 Understand the concept of book keeping and accounting.
1.1 Define book keeping and accountancy.
1.2 State the objectives of book keeping.
1.3 State the advantages of book keeping.
1.4 Differentiate between book keeping and accounting.
1.5 State the necessity and scope of book keeping and accounting.
2 Understand the transactions.
2.1 Define transactions and business transaction.
2.2 Explain the importance of transactions.
2.3 Describe the characteristic features of transactions.
2.4 Discuss the classification of transaction.
2.5 Identify the transaction from given statements stating reasons.
3 Understand the entry system.
3.1 State the aspects of transactions.
3.2 Define single entry system.
3.3 State the objectives of single entry system.
3.4 Discuss the disadvantages of single entry system.
3.5 Define double entry system.
3.6 Discuss the principles of double entry system.
3.7 Justify whether double entry system is an improvement over the single
entry system.
3.8 Distinguish between single entry and double entry system of book
keeping.
4 Understand the classification of accounts.
4.1 Define accounts.
4.2 State the objectives of accounts.
4.3 Illustrate different type of accounts with example.
4.4 Define Golden rules of Book keeping.
4.5 State the rules for Debit and Credit in each class of accounts.
4.6 Determine Debtor (Dr) and Creditor (Cr.) from given transactions
applying golden rules.
4.7 Define accounting cycle.
4.8 State the different steps of accounting cycle.

5 Understand the Journal.


5.1 Define Journal.
5.2 State the object of Journal.
5.3 State the functions of Journal.
5.4 Mention the various names of Journal.
5.5 Interpret the form of Journal.
5.6 Journalize from given transactions.
6 Understand the ledger.
6.1 Define ledger.
6.2 Interpret the form of ledger.
6.3 State the functions of ledger.
6.4 Distinguish between Journal and Ledger.
6.5 Prepare ledger from given transactions.
6.6 Explain why ledger is called the king of all books of accounts.
7 Understand the cash book.
7.1 Define cash book (single, double and triple column).
7.2 Explain cash book as both Journal and Ledger.
7.3 Prepare double column cash book from given transactions showing
balances.
7.4 Prepare triple column cash book from given transaction and find out the
balances.
7.5 Define petty cash book.
7.6 Prepare analytical and imprest system of cash book.
7.7 Define discount.
7.8 Explain the different types of discount.
8 Understand the trial balance.
8.1 Define trial balance.
8.2 State the object of a trial balance.
8.3 Discuss the methods of preparation of a trial balance.
8.4 Explain the limitations of a trial balance.
8.5 Prepare trial balance from given balance.
9 Understand the final accounts.
9.1 State the components of final account.
9.2 Distinguish between trial balance and balance sheet.
9.3 Identify the revenue expenditure and capital expenditure.
9.4 Select the items to be posted in the trading account, profit & loss
account and the balance sheet.
9.5 State the adjustment to be made from the given information below or
above the trial balance.
9.6 Prepare trading account, profit & loss account and balance sheet from
the given trial balance & other information.

10 Understand the cost and financial accounting.


10.1 Define financial accounting.
10.2 State the objectives of financial accounting.
10.3 Define cost accounting.
10.4 Discuss the relationship between financial Accounting and cost
accounting.
10.5 State the elements of direct cost and indirect cost.
10.6 Prepare cost sheet showing prime cost, factory cost, cost of production,
total cost and selling price.
10.7 Discuss the capital budgeting
10.8 Discuss the discounted cash flow method
10.9 Explain the following terms:
a. Fixed cost b. Variable cost c. Factory cost d. Overhead cost e. Process cost
f. Direct cost g. Operating cost h. Standard cost
11 Understand the depreciation
11.1 Define depreciation.
11.2 State the objects of depreciation.
11.3 Discuss the necessity for charging depreciation.
11.4 Describe the different methods of determining depreciation.
11.5 Explain the relative merits and demerits of different method of
depreciation.
12 Understand the public works accounts.
12.1 State the important aspects of public works accounts.
12.2 Describe the main features of public works accounts.
12.3 Explain Revenue and Grant.
12.4 Define Value Added Tex (VAT)
12.5 State the merits and demerits of VAT.
12.6 Define Bill and Voucher.

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