 Semester End Examination – 60 Marks  Attendance/Participation/Work Sheets – 10 Marks  Class Test – 15 Marks  Presentations – 15 Marks

 Framework of Financial Accounting  Financial Statements  Fixed Assets and Depreciation Accounting  Inventory Valuation  Ratio Analysis  Inflation Accounting  Basics of Auditing

 Financial Accounting – S.N. Maheshwari  Financial Accounting, A Managerial Perspective – R Narayanaswamy  Financial Accounting – The ICFAI University

 Industry Analysis 1. Introduction of the Sector 2. Major companies in the Sector 3. Market Share of various companies 4. Past trend of the sector – 5 years 5. News related to the Sector 6. Future of the Sector Presentation should not exceed 15 mins.

 Financial Accounting  Cost Accounting  Management Accounting  Social Responsibility Accounting

 Recording, classifying and summarizing of past events & transactions  Historical in nature  Facts & figures  Preparation of Financial statements

 It shows classification & analysis of costs on the basis of functions, processes & products.  It deals with cost computation, costs saving, cost reduction.

 Uses data generated in Financial & Cost Accounting.  Data used for managerial decision making.

It involves :  Accounting for social costs  Accounting for social benefits created & reporting thereof

According to the American Institute of Certified Public Accountants “The art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character & interpreting the results thereof”.

Identification of Transactions & Events Recording of Transactions in a Journal Posting of Journal Entries in Ledger Summarize by preparing Trial Balance, Profit/Loss A/C, Balance Sheet Analyze and Communicate the results to Users

Preparation of Financial statements from Trial Balance 1. Profit & Loss Account 2. Balance Sheet

 Owners  Managers  Investors  Creditors & Financial Institutions  Employees  Government  Customers  Public

 Ministry of Corporate Affairs  ICAI  SEBI  CBDT  RBI  International Accounting Standards Board

Accounting policies refer to the specific accounting principles and the methods of applying those principles adopted by the enterprise in the preparation and presentation of financial statements.

 Prudence  Substance over form  Materiality

 Going Concern  Consistency  Accrual