UNIT – 1
Introduction of Basics of Accountancy……………………………………………….7
1.1 Accounting History
1.2 Concepts and Conventions
1.3 Definition of Accounts, Accounting Users
1.4 Accounting system: Meaning of Single Entry System and Double Entry
System, Advantages of Double Entry system
1.5 Golden Rules of Accounting
UNIT – 2
Introduction of Basics of Accountancy……………………………………………..21
2.1 Accounting Cycle: Definition of Journal, Types of Journal, Ledger;
Meaning and Proforma of Journal and Ledger
2.2 Subsidiary books: meaning and proforma
2.3 Trial balance: objectives, methods and proforma
2.4 Meaning of Error of Omission, Error of Commission, Errors of Principles
and Compensatory Errors
UNIT – 3
Introduction of Basics of Accountancy……………………………………………..45
3.1 Accounting Terms : Assets : Definition of Assets, Characteristics,
Objective of Assets Valuation.
3.2 Type of Assets : Fixed Assets, Current Assets, Tangible Assets, Intangible
Assets
3.3 Liabilities : Nature, Measurement of Liabilities
3.3.1 Classification of Liabilities : Current Liabilities, Long-term
Liabilities, Short-term Liabilities and Contingent Liabilities
3.4 Equity : Share Capital, Types of Share Capital
3.5 Loans : Sources of Secured Loan, Sources of Unsecured Loans
3.6 Income : Direct Income, Indirect Income
3.7 Expenditures : Capital Expenditure, Revenue Expenditure and Deferred
Revenue Expenditure
6 | PRASHANT PUBLICATIONS
UNIT – 4
Financial Accounting ………………………………………………………………………62
Final Statement: Manufacturing Account, Trading Account, Profit and Loss
Account, Gross Profit, Net Profit, Net Profit Before Tax, Net Profit After Tax
(theory and proforma)