Financial Accounting Syllabus Madras University

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B.Com Financial Accounting

PAPER I - FINANCIAL ACCOUNTING
Unit - I
Meaning and scope of Accounting, Basic Accounting Concepts and Conventions -Objectives
of Accounting - Accounting Transactions - Double Entry Book keeping - Journal, Ledger,
Preparation of Trial Balance - Preparation of Cash Book.
Unit - II
Preparation of Final Accounts of a Sole Trading Concern - Adjustments - Closing Stock,
Outstanding and Prepaid items, Depreciation, Provision for Bad Debts, Provision for
Discount on Debtors, Interest on Capital and Drawings - Preparation of Receipts and
Payments Account, Income & Expenditure Account and Balance Sheet of Non Trading
Organizations (simple problems).
Unit - III
Classification of errors - Rectification of errors - Preparation of Suspense Account. Bank
Reconciliation Statement (Only simple problems).
Unit - IV
Depreciation - Meaning, Causes, Types - Straight Line Method - Written Down Value
Method (Change in Method excluded) - Insurance Claims - Average Clause (Loss of stock
only).
Unit - V
Single Entry - Meaning, Features, Defects, Differences between Single Entry and Double
Entry System – Statement of Affairs Method - Conversion Method (Only simple problems).
Unit - VI
Branch Accounts - Dependent branches - Stock and debtors system - Distinction between
wholesale profit and retail profit - Independent branch (foreign branches excluded).
Unit - VII
Departmental Accounts - Basis for allocation of expenses - Inter departmental transfer at cost
or selling price - Treatment of expenses which cannot be allocated.
Unit - VIII
Hire purchase and installment - Default and repossession - Hire purchase trading account.
Installment purchase system.
5
Unit - IX
Admission of a partner - Retirement of a partner - Death of a partner.
Unit - X
Dissolution of a partnership - Insolvency of a partner (Application of Indian Partnership Act,
1932) - Insolvency of all partners - Gradual realisation of assets and piecemeal distribution.

Univ of Madras B.Com FM syllabus
UNIT I

Issue of Shares and Debentures – Various Kinds – Forfeiture – Re-issue – Underwriting of Shares and Debentures.

UNIT II

Redemption of Preference Shares and Debentures – Purchase of business – Profits Prior to Incorporation.


UNIT III

Preparation of company final accounts – Company Balance Sheet – Computation of Managerial Remuneration.

UNIT IV
Valuation of Shares and Goodwill
UNIT V

Alteration of Share Capital, Internal Reconstruction and Reduction of Capital.


Reference Books

1) R.L. Gupta and M. Radhaswamy -Advanced Accountancy Volume II -New Delhi, Sultan Chand.
2) S.P. Jain and N.L. Narang - Advanced Accounting - Kalyani Publication.
3) T.S. Reddy A. Murthy - Corporate Accounting,- Margham Publication, Chennai.
4) M.C. Shukla, T.S. Grewal and S.C. Gupta Volume II - Advanced Accounts - S.Chand New Delhi.


Core : VI - BUSINESS LAWS

UNIT I

Indian Contract Act – Formation – Terms of contract – Forms of contract – Offer and Acceptance - Consideration.


UNIT II

Capacity – Flaw in consent, Void agreements – Illegal agreements.


UNIT III

Performance – Tender – Quasi contract – Discharge – Remedies for Breach of contract.


UNIT IV

Sale of Goods Act – Sale and agreement to sell – Formation – Caveat emptor


UNIT V

Conditions and Warranty – Rights of unpaid seller.

REFERENCE BOOKS :

• Business Laws- N.D. Kapoor , Sultan Chand and Sons
• Business Laws – M.R. Sreenivasan , Margham Publications
• Business Laws – M.V. Dhandapani, Sultan Chand and Sons
• Mercantile Law – S. Badre Alam and P. Saravanavel
• Business Law – R.S.N. Pillai – S. Chand & Co.
• Mercantile Law – Gogna, S. Chand. & Co.
• Business Law – Gogna , S. Chand & Co.
• Business Law – M.C. Shukla , S. Chand & Co.

CORE - VII COMPUTERISED ACCOUNTING
(Theory & Practical)

Credits -4
To develop the skills of students to prepare accounting statements using accounting software

Unit – I

Introduction – features – basic concept of computerized accounting and Inventory system – accounts organization & types of accounts – account statements – Purchases & sales – credit & debit – transaction, invoice, voucher, order, cost & stock – income & expenses – inventory control.

Unit – II

Masters – creation of Accounts Master – Ledger – cost – group – Budgets – Voucher & Inventory – creation of Inventory Master – Stock Item – Group & Unit measurement.

Unit – III

Transactions – Accounts vouchers entry – receipt – payment – journal – debit & credit notes – sales, purchase option and post-date vouchers. Inventory voucher entry – types – delivery Chelan – Goods Receipt Note, Sales & Purchase returns – Invoice – Stock Transfer – Bill of Material Physical Stock Voucher.

Unit – IV

Reports – Accounting Report – Trial Balance – Profit & Loss account – Balance -Sheet & Stock Statement – Account Books – Cash & Bank Books – Ledger summaries - Bills Receivable & Payable Statements.

Unit – V

Inventory Report – Stock Summaries – Group Summaries – Order Books & Summary – Order status – Sales Order Summary - Purchase Order Summary – Printing – Reports on Printer – Reports to File.

References:
1. K.K. Nidhani , Implementing Tally
2. Namrata Agarwal, “ Financial Accounting using Tally”, Dream tech Publishers,
New Delhi, 2003

List of Practical’s
1. Company creation and account configuration
2. Account classification and accounts Master
3. Balance sheet
4. Profit and Loss account
5. Trail Balance
6. Stock Items and Reorder level
7. Purchase and sales orders
8. Invoice Entry
9. Inventory
10. Books of accounts

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