Financial Accounting

School SSBS
Batch 2025-2029
Programme: B.COM/ B. COM. (H)/ B. COM. HONS. WITH RESEARCH
Academic Year 2025-26
Branch: Business Semester: I
& Commerce
1 Course Code BCT1101
2 Course Title Financial Accounting

3 Credits 4
4 Contact 3-1-0
Hours
(L-T-P)
Course Type Major
5 Course The objective of this course is to introduce problems of financial accounting
Objective such as measuring and reporting issues related to assets and liabilities and
preparing the financial statements.
6 Course
On successful completion of the course, the student will be able to:
Outcomes
CO1: Define key accounting concepts, principles, and the accounting cycle.
CO2: Explain financial transactions using relevant accounting data.
CO3: Construct financial statements using accounting inputs.
CO4: Analyze the impact of accounting changes on financial position.
CO5: Evaluate various accounting scenarios in financial decision-making.
CO6: Develop different accounts independently using accounting principles.
7 Course The course focuses on detailed understanding of accounting information system,
Description accounting concepts, accounting principles, accounting cycle, recording of
transactions, and financial statement concepts.
8 CO Mapping
Unit 1 Theoretical Framework of Accounting
A Introduction, Meaning and Scope of Accounting; Objectives of CO1, CO2
Accounting; Importance of Accounting; Functions of
Accounting; Terminologies used in accounting; Users of
Accounting Information;
 B Accounting Process; Basis of Accounting: Cash basis and CO1, CO2
Accrual Basis; Branches of Accounting; Principles of
Accounting; Accounting Concepts and Conventions;
C Basic knowledge of Accounting Standards; Basic knowledge CO1, CO2
of Indian Accounting Standards (IND AS); Basic knowledge
of GST in Accounting with practicals; Accounting Process
from recording of a business transaction to preparation of
trial balance including adjustments.
Unit 2 Business Income, Depreciation Accounting and Inventory
Valuation
A Measurement of business income; Net income; the accounting CO1, CO2
period; the continuity doctrine and matching concept;
Objectives of measurement
B Depreciation: The accounting concept of depreciation; Factors in CO2, CO4
the measurement of depreciation; Methods of computing
depreciation: Straight Line Method and Diminishing Balance
Method; Disposal of depreciable assets; change of method of
Depreciating.
C Inventories: Meaning; Significance of Inventory Valuation; CO2, CO4
Inventory Record Systems: Periodic and Perpetual; Methods of
Valuation of Inventories: FIFO, LIFO and Weighted Average
Methods; Salient features of Accounting Standard (AS) - 2.
Unit 3 Financial Statements
A Introduction; Meaning of Financial Statements; Financial CO1, CO3
statements of Business Concerns.
B Preparation of Trading Account and Profit & Loss Account and CO3, CO4
Balance sheet, with Adjustments.
C Formats of Income Statement and Balance sheet (Practical CO3, CO6
Questions)
Unit 4 Royalty & Hire-Purchase Accounting
A Royalty accounting in books of landlords & lessees; Short CO1, CO3,
working, Sub-lease, and Reserve Account CO4
B Hire Purchase Account - Accounting Records in the Books of CO1, CO3,
Hire Purchaser and Vendor, Different Methods of Calculation of CO4
Interest and Cash Price, Maintenance of Suspense Account,
Payment of Premium, Default in Payment and Partial Returns of
Goods.
C Installment Payment System - Difference between Hire CO4, CO6
Purchase and Installment Payment System.
Accounting Records in the book of Purchaser &Vendor,
Interest suspense account
 Unit 5 Insolvency & Voyage Accounts
A Insolvency: Meaning, circumstances, and declaration procedure CO5, CO6
B Preparation of Statement of Affairs & Deficiency Account CO5, CO6
C Voyage Accounts - Meaning & Preparation of Voyage CO5, CO6
Accounts
Mode of Theory
examination
Weightage CA MTE ETE
Distribution
25% 25% 75%
Text book/s* 1. Jain & Naranag, “Advanced Accounts”, Jain Book Agency,
18th Edition, Reprint(2014)
2. Jaisawal, K.S., Financial Accounting, (Both in Hindi &
English Version),Vaibhav Laxmi Prakashan. (2010)
3. Gupta, R. L. & Radhaswamy, M., Financial Accounting:
Sultan Chand and sons.
4. Shukla, M.C., Grewal T.S. & Gupta, S.C., Advanced
Accounts: S. Chand &Co
Other  Maheshwari S.N. & Maheshwari S. K, “A text
References book of Accounting forManagement”,Vikas
Publication, 10th Edition (2013)

Course Articulation Matrix

POs PO1 PO2 PO3 PO4 PO5 PO6 PSO1 PSO2 PSO3
Cos
CO1 3 2 2 1 1 3 3 3 2
CO2 3 3 1 - - 3 3 3 2
CO3 3 2 2 1 2 3 3 3 3
CO4 3 3 1 - 2 3 3 3 2
CO5 2 2 1 1 2 2 2 2 2
CO6 2 2 1 1 1 2 1 2 2