Topics of Principles of Accounting I

1.     Book-Keeping and Accounting Concept

Book Keeping

Accounting

Objectives or Functions of Accounting

Basic concept of Accounting

Scopes of Accounting

Double entry system of book-keeping

2.     Recording of transaction

Accounting equationsBasic accounting terminologiesBooks of Original entry-jornal entryRules of debit and creditLedger accounts

3.     Cash and Banking Trasnaction

Banking ConceptCash book- single, double and  triple column cash bookBank reconciliation statement

4.     Trial Balance

Concepts, objectives and preperation of unadjusted trial balance

5.     Accounting Errors

Meaning, types and rectification of accounting errors

6.     Final Accounts

Capital and revinue conceptMeaning, concept and preperation of trading account, profit & loss account and balance sheet

7.     Depreciation

Oncept, causes, advantages and factors affecting depreciation Fixed installemnt and reducing balance method of depⁿ

8.     Reserves and provision

Concept and objective if maintaining the various types if reserves

9.     Accounting for non-profit making organizations

Receipt and payment accountPreperation of statement of affiars and ascertainment of profit and loss

10. Accounting for non-complete records

Single entry system of book keepingPreperation  of statement of affairs and ascertment of profit and loss

11. Government accounting

Concepts, objectives, features of government accountingAccounting for operating level (journal voucher, Bank cash book, Budget sheet, petty cash book, Monthly expenditure report)