Fundamentals of Accounting 1st Semester BU BBA SEP Notes

Last updated on 22/10/2024 1 By indiafreenotes
Unit 1 [Book]
Introduction Meaning and Definition Objectives of Accounting VIEW
Functions of Accounting VIEW
Uses of Accounting Information VIEW
Limitations of Accounting VIEW
Terminologies used in Accounting VIEW
Accounting Process and VIEW
Accounting Cycle VIEW
Basis of Accounting, Cash basis and Accrual Basis VIEW
Accounting Equations VIEW
Branches of accounting VIEW
Accounting Principles VIEW
Accounting Concepts and Accounting Conventions VIEW

 

Unit 2 [Book]
Process of Accounting VIEW
Double entry system VIEW
Kinds of Accounts, Rules VIEW
Transaction Analysis VIEW
Journal VIEW
Ledger VIEW
Balancing of Accounts VIEW
Trial Balance VIEW
illustrations on Journal, Ledger Posting and Preparation of Trial Balance VIEW

 

Unit 3 [Book]
Subsidiary Books Meaning and Significance VIEW
Types of Subsidiary Books: Purchases Book, Sales Book (With Tax Rate), Purchase Returns Book, Sales Return Book VIEW
Bills Receivable Book, Bills Payable Book VIEW
Types of Cash Book: Simple Cash Book, Double Column Cash Book VIEW
Petty Cash Book VIEW

 

Unit 4 [Book]
Introduction to Financial Statement VIEW
Income Statement VIEW
Profit and Loss Account VIEW
Balance Sheet VIEW
Preparation of Statement of Profit and Loss of a Proprietary Concern with special adjustments like Depreciation VIEW
Preparation of Statement of Balance Sheet of a Proprietary Concern with special adjustments like Depreciation VIEW
Outstanding Expenses VIEW
Prepaid Expenses VIEW
Outstanding and Received in Advance of Incomes VIEW
Provision for Doubtful Debts VIEW
Drawings and Interest on Capital VIEW

 

Unit 5 [Book]
Bank Reconciliation Statement (BRS), Definition, Purpose, Importance VIEW
Reconciling Bank Statements and Bank Accounts Prepared in Businesses VIEW
Causes for Differences between Cash Book and Pass Book, Timing differences, Outstanding Cheques and Deposits in transit, Errors in the Cash Book and Bank Statements, Bank charges and Interest, Direct debits, Standing instructions and Auto payments, Dishonoured Cheques VIEW
Preparation of Bank Reconciliation Statement VIEW