MI4105 Principles of Accounting Syllabus:

MI4105 Principles of Accounting Syllabus – Anna University PG Syllabus Regulation 2021

COURSE OBJECTIVE:

Acquire fundamental knowledge in Accounting.

UNIT I INTRODUCTION

Introduction to Financial, Cost and Management Accounting – Objectives of Financial Accounting – Accounting Principles, Concepts and Conventions – Book keeping and Accounting – Accounting System – Preparation of Journal, Ledger, Cash Book and Trial Balance – Errors disclosed and not disclosed by Trial Balance.

UNIT II FINAL ACCOUNTS

Preparation of Final Accounts of Sole Trading Firms – with adjustments (Simple adjustments only).

UNIT III RECTIFICATION OF ERRORS & DEPRECIATION

Rectification of Errors including preparation of Suspense Account – Depreciation – Meaning and Types – Methods of Charging and Providing depreciation – Straight Line and Written Down Value methods (Change in method excluded).

UNIT IV BANK RECONCILIATION STATEMENT

Bank Reconciliation Statement (simple problems only) – Insurance Claim – Average Clause (Loss of profit excluded).

UNIT V ACCOUNTING FOR NON-PROFIT ORGANISATION

Accounting for Non-profit Organisation – Receipts and Payments Account, Income and Expenditure Account and Balance Sheet (simple problems only).

TOTAL : 45 PERIODS

COURSE OUTCOME:

Good grasp of basic Accounting nuances.

TEXT BOOKS:

1. Reddy and Murthy, Financial Accounting by Margham Publications, 2015,Chennai.
2. R.L.Gupta and Radhaswamy, Advanced Accounting, Vol. I,Sultan Chand & Sons, 2014, New Delhi.
3. P.C.Tulsian, Financial Accounting, Pearson Education India,2014.

REFERENCES:

1. Jan Williams, Financial and Managerial Accounting – The basics for business decisions, 17th edition, Tata McGraw Hill Publishers, 2015.
2. Stice & Stice, Financial Accounting Reporting and Analysis, 8th edition, Cengage Learning, 2015.
3. Advanced Accounting, R.L.Gupta and P.K.Gupta, Advanced Accounting, Sultan Chand, New Delhi.