Financial Accounting

UNIT I
Conceptual framework of Accounting. GAAP, Preparation of books: Journal, Ledger and Trail Balance.

UNIT II
Measurement of biz income and financial position: Constructing corporate financial statements i.e. Journal, Ledger, Trial Bal, P&L A/C, Balance Sheet, Cash flow statement.

UNIT III
Asset Valuation: Fixed Assets; Depreciation and Inventories.

Cost Accounting

UNIT V Basic Cost Concept. Marginal costing and profit planning; cost-volume-profit analysis; Standard Costing, budgeting & budgetary control, Job costing and Service Costing.

Management Accounting

UNIT IV
Analysis Financial Statements- multi step, Horizontal, common sized and trend analysis, and ratio analysis.

Uses of Accounting

Avoidance of the limitation of memorizing power Compliance of Statutory provisions Ascertainment of profit and loss of the business Ascertainment of profit and loss of the business Assessment of Tax Knowledge of Debtors and Creditors Determination of sale price of business Evidence in the court of law Assistance in taking managerial decisions Development of nation Investment Decisions

What is Accounting?

A formal system for communicating financial information about economic entities to interested users. The process of recording, classifying, and summarizing and interpreting business transactions in financial or monetary terms. Often called the language of business. Sometimes mistakenly called bookkeeping.

What financial Information?

Balance Sheet Consolidated Balance Sheet Income Statement Consolidated Statements of Operations Consolidated Statements of Cash Flows Activities : Operating , Investing, Financing Auditors and Managements reports Management Discussion and Analysis

Shareholders

Employers

Customers

Managers
Vendors creditors

Government

Community