 Semester
End Examination – 60 Marks
 Attendance/Participation/Work
Marks
 Class
Test – 15 Marks
 Presentations
– 15 Marks
Sheets – 10
 Framework
of Financial Accounting
 Financial Statements
 Fixed Assets and Depreciation Accounting
 Inventory Valuation
 Ratio Analysis
 Inflation Accounting
 Basics of Auditing
 Financial
Accounting – S.N. Maheshwari
 Financial
Accounting, A Managerial
Perspective – R Narayanaswamy
 Financial
Accounting – The ICFAI University
 Industry
1.
2.
3.
4.
5.
6.
Analysis
Introduction of the Sector
Major companies in the Sector
Market Share of various companies
Past trend of the sector – 5 years
News related to the Sector
Future of the Sector
Presentation should not exceed 15 mins.
 Financial
 Cost
Accounting
Accounting
 Management
 Social
Accounting
Responsibility Accounting
 Recording,
classifying and summarizing of
past events & transactions
 Historical
 Facts
in nature
& figures
 Preparation
of Financial statements
 It
shows classification & analysis of costs
on the basis of functions, processes &
products.
 It
deals with cost computation, costs
saving, cost reduction.
 Uses
data generated in Financial & Cost
Accounting.
 Data
used for managerial decision
making.
It involves :
 Accounting for social costs
 Accounting
for social benefits created
& reporting thereof
According to the American Institute of
Certified Public Accountants
“The art of recording, classifying and
summarizing in a significant manner and
in terms of money, transactions and
events which are, in part at least, of a
financial character & interpreting the
results thereof”.
Identification of Transactions & Events
Recording of Transactions in a Journal
Posting of Journal Entries in Ledger
Summarize by preparing Trial Balance, Profit/Loss
A/C, Balance Sheet
Analyze and Communicate the results to Users
Preparation of Financial statements
from Trial Balance
1. Profit & Loss Account
2. Balance Sheet
 Owners
 Managers
 Investors
 Creditors
& Financial Institutions
 Employees
 Government
 Customers
 Public
 Ministry
of Corporate Affairs
 ICAI
 SEBI
 CBDT
 RBI
 International
Accounting Standards Board
Accounting policies refer to the specific
accounting principles and the methods of
applying those principles adopted by the
enterprise in the preparation and
presentation of financial statements.
 Prudence
 Substance
over form
 Materiality

Going Concern

Consistency

Accrual