FINANCIAL ACCOUNTING

FINANCIAL ACCOUNTING

COURSE CODE: BFSC103

SEMESTER : 1

Financial accounting is a specialized branch of accounting that keeps track of a company’s financial transactions. Using standardized guidelines, the transactions are recorded, summarized, and presented in a financial report or financial statement such as an income statement or a balance sheet. The main objective of financial accounting is to know the profit or loss of an enterprise.

Course objectives:

• To make students learn the basic concepts, principles of accounting.
• To make students to prepare final accounts of sole trader; to have an understanding about single entry system.
• To make students have a thorough knowledge about various accounts like royalty and consignment.

References:

1. Systematic approach to Financial Accounting- Dr. KGC Nair, Dr. Jayan, S Chand Publications.
2. Financial Accounting- Jain & Narang- Kalyani Publications
3. Financial Accounting 1 – Dr. Jayan- Prakash Publications.