We have great pleasure in presenting First edition “Financial Accounting & Reporting” written for students of UG courses. The related matters are written in a simple and easily understandable.
This volume is an attempt to provide the students with thorough understanding of Financial Accounting & Reporting. We have presented the subject matter in a systematic manner with liberal use of charts and diagrams where ever necessary so as to make it interesting and sustain students’ interest.
Contents –
Module – 1 Introduction to Accounting
Introduction
Meaning of Accounting
Objectives of Accounting
Need for Accounting
Types of Accounting
Single Entry System
Double Entry System
Concepts of Accounting
Conventions of Accounting
Users of Accounting Information
Basics of Generally Accepted Accounting Principles (GAAP)
Indian Accounting Standards
IFRS
Review Questions
Module – 2 Accounting Cycle
Introduction
Journal
Ledgers
Trial Balance
Accounting Equation
Subsidiary Books including Cash Book with two and Three Column Cashbook
Review Questions
Practical Problems
Module – 3 Final Accounts of Companies
Introduction
Final Accounts of Companies
Preparation of Final Accounts of Companies in Vertical Form as per Companies Act of 2013
(Problems of Final Accounts with Adjustments)
Window Dressing
Case Study Problem on Final Accounts of Company
Appropriation Accounts
Review Questions
Practical Problems
Module – 4 Analysis of Financial Statements
Introduction
Meaning of Financial Statement Analysis
Purpose of Financial Statement Analysis
Trend Analysis
Comparative Analysis
Financial Ratio Analysis
Preparation of Financial Statements using Financial Ratios
Case Study on Financial Ratio Analysis
Lab Compulsory for Financial Statement Analysis using Excel
Review Questions
Practical Problems
Module – 5 Bank Reconciliation Statement
Introduction
Rules for Recording Receipts
Payments in Cash Book and Bank Pass Book
Reasons for Differences in the Balances of Cash Book and Bank Pass Book
Meaning of Bank Reconciliation Statement
Preparation of Bank Reconciliation Statement
(Tally may be used for Preparation Bank Reconciliation Statement)
Review Questions
Practical Problems
Module – 6 Depreciation and Emerging Issues in Accounting
Introduction
Meaning of Depreciation
Characteristics of Depreciation
Causes of Depreciation
Types of Depreciation
Tax Implication of Depreciation
Emerging Areas in Accounting
Human Resource Accounting
Forensic Accounting
Green Accounting
Sustainability Reporting
Automated Accounting Processes
Cloud-based Accounting
Data Analytics
Forecasting Tools
Blockchain
AI in Accounting
Big Data in Accounting
Review Questions
