REVISED SYLLABUS FOR Courses of Reading For B.Com. for Academic Year 2006-2007 and onwards

B.Com. – Part I

Paper - II


Duration : 3 hrs. Max. Marks: 75

Lectures: 75

Objective: To make the student familiar with generally accepted accounting principles of
financial accounting and their applications in business organizations excluding corporate

Unit – I

(i) Financial Accounting: Nature and scope, Limitations of Financial Accounting.
(ii) Basic Concepts and Conventions. Accounting Standards: Meaning, Procedure for
issue of Accounting Standards in India, Significance, Generally Accepted
Accounting Principles (GAAP).
(iii) Accounting Process: From recording of transactions to preparation of final
accounts. 10 Lectures
Unit – II
i) Final Accounts of a Sole-Trader.
ii) Final Accounts of Not-For Profit Organisations: Meaning and features.
iii) Preparation of Income and Expenditure Account and Balance Sheet: From receipts
and payments account with additional information and vice – versa
Preparation of Balance Sheets (opening and closing) from receipts and payments
account and income expenditure account and additional information.
iv) Accounts from incomplete records: statement of affairs method and final account
15 Lectures
Unit – III
Depreciation Accounting: Meaning of deprecation, causes, objects of providing
depreciation, factors affecting depreciation, accounting treatment including provision for
depreciation accounting. Methods of depreciations: straight line method, diminishing
balance method, Change of method as per revised AS-6. 10 Lectures
Unit – IV
Consignment and Joint Venture Accounts:
(i) Consignments: Features,
Accounting treatment in the books of the consignor and consignee.
(ii) Joint Ventures: Accounting procedures: Joint Bank Account, Records Maintained by
co-venturer of (a) all transactions (b) only his own transactions. (Memorandum joint
venture account).
10 Lectures
Unit – V
Accounting for Hire Purchase Transactions, Journal entries and ledger accounts in the
books of Hire Vendors and Hire purchaser for large value items including Default and
10 Lectures
Unit – VI
Inland Branches: Dependent branches only and Ascertainment of Profit by Debtors
method and Stock and Debtors method.
10 Lectures
Unit – VII
Dissolution of Partnership Firms: Legal Position, Accounting for simple dissolution,
Applications of rule in case of Garner Vs. Murray in case of insolvency of partner(s)
(excluding piecemeal distribution and sale of a firm to a company).
10 Lectures
Suggested Readings:
1. T.S, Grewal, Introduction to Accounting, S. Chand and Co., New Delhi
2. S. N. Maheshwari, Financial Accounting, Vikas Publication, New Delhi.
3. R.L. Gupta and V. K. Gupta, Principles and Practice of Accountancy Sultan Chand
and Sons, New Delhi.
4. J.R Monga, Basic Financial Accounting, Mayur Paper backs, Darya Gang New Delhi.
5. P.C. Tulsian, Financial Accounting, Tata McGraw Hill, New Delhi.
6. B.K. Goyal, Financial Accounting, Modern Publications, New Delhi.
7. S.P. Jain and K. L. Narang, Advanced Accounting, Kalyani Publishers New Delhi.
8. R.K. Sharma and R.S. Popli, Principles and Practice of Accounting, Sultan Chand
and Sons, New Delhi.
9. Nirmal Gupta, Financial Accounting, Sahitya Bhavan, Publishers and Distributers (P)
10. Ashok Sehgal and Deepak Sehgal, Fundamentals of Financial Accounting, Taxmann, New Delhi.
11. Seema Srivastava, Financial Accounting, Principles & Practices, S. Chand & Co., New Delhi.

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