MC4104 Fundamentals of Accounting Syllabus:
MC4104 Fundamentals of Accounting Syllabus – Anna University PG Syllabus Regulation 2021
COURSE OBJECTIVES:
To understand the basic principles of Accounting
To understand the Double entry system and the preparation of ledger.
To understand the process and importance of the electronic accounting system.
To Prepare the estimate for various business activities such as purchase, sale, production and cash budgets
To ensure the decision making process of an organization.
UNIT I INTRODUCTION TO ACCOUNTING
Introduction to Financial, Cost and Management Accounting – Objectives of Financial Accounting – Accounting Principles, Concepts and Conventions – Bookkeeping and Accounting
Practical exercise session using Tally:
1. Company Creation, Creating Groups
2. Creation of Ledgers and Vouchers
UNIT II MANAGEMENT ACCOUNTING AND BOOKKEEPING
Meaning-Objectives of Management Accounting-Accounting System – Preparation of Journal, Ledger, Cash Book and Trial Balance – Errors disclosed and not disclosed by Trial Balance –Final Accounts – Ratio Analysis
Practical exercise session using Tally:
1. Creating Contra, Journals, Credit and Debit Notes
2. Preparing Trial Balance and Final Accounts
UNIT III BUDGETS AND BUDGETARY CONTROL
Budgets and Budgetary Control-Meaning-Types-Sales Budget-Production Budget-Cost of Production Budget-Flexible Budgeting-Cash Budget-Master Budget-Zero Base Budgeting Computerized Accounting – with adjustments
Practical sessions using Advanced tools in MS-Excel:
1. Preparing Revenue Management and Portfolio Selection
2. Preparing Final Accounts with Adjustments
UNIT IV FINANCIAL MANAGEMENT
Objectives of Financial Management- preparation of Suspense Account – Depreciation – Meaning and Types – Methods of Charging and Providing depreciation – Inventory
Practical exercise session using Tally:
1. Preparing Inventory Creation, Purchase order, Sales Order
2. Preparing Sales Journal, Rejections, Delivery Note.
UNIT V BANK RECONCILIATION STATEMENT AND REPORTING
Preparing Bank Reconciliation Statement (simple problems) – Insurance Claim – Average Clause – Export and Import of Data, Data Security,
Practical exercise session using Tally:
1. Preparing the Bank Reconciliation Statement
2. Preparing the Trading, Profit And Loss Account and Trial Balance
TOTAL : 75 PERIODS
COURSE OUTCOMES:
On completion of the course the student would be able to :
CO1. Able to understand the basic concepts of Accounting standards.
CO2. Able to understand the process of maintaining Accounts in an organization
CO3. Helps to understand and calculating the financial position of an organization
CO4. Helps to understand Financial Management concepts and its components
CO5. It helps to understand the importance of BRS and generation of various financial reports
REFERENCES:
1. S.N.Maheswari, “Financial and Management Accounting”, Sultan Chand & Sons, 5th edition,2010
2. I.M.Pandey, ”Financial Management”, Vikas Publishing House Pvt. Ltd., 9th Edition, 2009.
3. M.Y.Khan and P.K.Jain, “Financial Management , Text, Problems and Cases”, Tata McGraw Hill, 5th Edition, 2008.
4. Reddy and Murthy, Financial Accounting by Margham Publications, 2015,Chennai
5. I.M.Pandey, “Management Accounting”, Vikas Publishing House Pvt. Ltd., 3rd Edition, 2009
6. Advanced Accounting, R.L.Gupta and P.K.Gupta, Advanced Accounting, Sultan Chand, New Delhi.