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IGNOU

BCOC-131- Financial Accounting 

IGNOU via Swayam

Overview

Accounting helps the decision-makers of a company to make effective choices, by providing information on the financial status of the business. Today, accounting is used by everyone and a good understanding of it is beneficial to all. Accountancy act as a language of finance. To understand accounting efficiently it is important to understand the different aspects of accounting i.e. Economic Events, Identification, Measurement, Recording, and Communication, and Interested Users of Information. The course mainly focuses on the theoretical framework of Accounting, Accounting Process, Preparation of Financial Statements, Understanding and Interpretation of Financial Statements that helps the different stakeholder to understand and interpret the financial position of business in a very transparent and fair manner. This course also focuses on the emerging need of computer accounting in the present business environment as the use of technology helps in accuracy, reliability and security of financial information on the basis of which policy decisions are taken.Course Credit6

Syllabus


BCOC-131- Financial Accounting

BLOCK 1: THEORETICAL FRAMEWORK

Week-1

Unit-1: Nature and Scope of Accounting

Week-2

Unit-2: Accounting Process and Rules

Week-3

Unit-3: Accounting Principles

Unit-4: Accounting Standards

BLOCK 2: ACCOUNTING PROCESS

Week-4

Unit-5: Journal and Ledger

Week-5

Unit-6: Subsidiary Books

Week-6

Unit-7: Trial Balance and Rectification of Errors

BLOCK 3: FINAL ACCOUNTS

Week-7

Unit-8: Depreciation

Week-8

Unit-9: Final Accounts-I

Week-9

Unit-10: Final Accounts-II

BLOCK 4: HIRE PURCHASE AND INLAND BRANCHES

Week-10

Unit-11: Hire Purchase Accounts-I

Week-11

Unit-12: Hire Purchase Accounts-II

Week-12

Unit-13: Branch Accounts-I

Week-13

Unit-14: Branch Accounts-II

BLOCK 5: CONSIGNMENT AND JOINT VENTURES

Week-14

Unit-15: Consignment Accounts-I

Unit-16: Consignment Accounts-II

Week-15

Unit-17: Joint Venture Accounts

BLOCK 6: COMPUTERIZED ACCOUNTING

Week-16

Unit-18: Introduction to Computer Accounting and Creation of Company

Week-17

Unit-19: Creating Masters

Week-18

Unit-20: Voucher Entries and Invoicing

Unit-21: Preparation of Reports

Taught by

Prof. Sunil Kumar

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