To be eligible for admission to a 3-year Bachelor of Commerce (BCom) degree program in colleges affiliated with Sant Gadge Baba Amravati University, a student typically needs to have successfully completed their Higher Secondary Certificate (HSC) in either the science or commerce field and maintained a consistent academic record throughout their educational career.
| Unit | Contents |
|---|---|
| I | Introduction to Bookkeeping and Accountancy 1.1 History, Meaning and Definition of Bookkeeping and Accountancy, Difference between Bookkeeping and Accountancy, Objectives, and Methods of Bookkeeping. 1.2 Accounting Concepts and Conventions. 1.3 Double Entry System – Meaning, Characteristics, Advantages, Disadvantages, and Golden Rules of Debit and Credit. |
| II | Journal, Ledger, and Trial Balance 2.1 Journal Entries – with and without GST, Compound and Discount Entries. 2.2 Ledger Posting and Balancing. 2.3 Opening and Closing Entries. 2.4 Preparation of Trial Balance. |
| III | Subsidiary Books and Cash Book 3.1 Subsidiary Books – Meaning, Advantages, and Types (Purchase, Sales, Return, Bills Receivable/Payable Books). 3.2 Cash Book – Meaning, Importance, Characteristics, and Utility. 3.3 Types of Cash Books – Simple, Double Column, and Triple Column. |
| IV | Final Accounts of Proprietary Concerns 4.1 Need for Final Accounts – Preparation of Trading, Profit & Loss Account, and Balance Sheet. 4.2 Adjustments – Prepaid/Outstanding Expenses, Accrued/Unearned Income, Depreciation, Interest on Capital & Drawings, Provisions (Bad Debts, Discounts), and Closing Stock. Problems on Final Accounts with Adjustments. |
Upon completion of this course, students will be able to:
Understand the historical development of accounting and differentiate between Bookkeeping and Accountancy.
Define Bookkeeping and Accountancy and apply their objectives and methods.
Examine the Double-Entry system, including its features, benefits, and drawbacks.
Apply the golden rules of debit and credit in journal entries, including GST-related transactions.
Pass opening and closing entries for sole proprietorships.
Identify cash-related entries and determine closing cash balances.
Utilize subsidiary books in place of ledgers for large businesses.
Prepare balance sheets and financial statements for sole proprietorships with necessary adjustments.
C1102 - BCOM 1 SEMESTER 1 - FINANCIAL ACCOUNTING (NEP)
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