Financial Accounting

Faculty : Prof. Piyush Jain

Course Syllabus

Part One
The Recording procedure

  • Accounting: Introduction
  • Accounting Principles and Conventions
  • Basic Accounting Terminology
  • Accounting Standards, IFRS, Indian Accounting Standards
  • Accounting Procedures
  • Journal Entries
  • Ledgers
  • Trial Balance
  • Subsidiary books
  • Cash Book
  • Concept and Methods of Depreciation
  • Concept of Bills of Exchange
  • Valuation of Inventory
  • Internal Financial Controls of Companies
  • ERP and SAP: Introduction

Part Two
The Reporting Procedure

  • Preparation of Financial Statements
    • Balance Sheet
    • Profit and Loss Statement
    • Cash Flow Statement
    • Notes to Accounts
  • Legal Provisions for Company’s Accounts
  • Audit and Auditor in case of Companies
    • Appointment
    • Qualification and Disqualification of auditor
  • Auditor’s Report
  • Board of Director’s Report

Part Three
The Analysis Procedures

  • Ratio Analysis
    • Liquidity Ratios
    • Turnover Ratios
    • Capital Structure Ratios
    • Profitability Ratios
  • Cost Sheet Analysis
  • Budgets and Budgetary Procedures
    • Fixed and flexible budget
    • Functional budget
    • Zero base budgeting

Part Four
Practical Aspects

  • Financial Data Sources
  • Analyzing Annual Reports
  • Case Study based on Annual Reports