Financial Accounting Study Material & Previous Year Question Papers
In this article you can download the study material for Financial Accounting and advanced financial accounting Subjects of First and second semester, Bangalore University. and also the previous Year Question Papers
The primary and prime objective of any business organization is to make profit by satisfying their customers. Thereby satisfy the investors by providing good returns for their investments. To know whether business is making profit or incurring the losses, it is very much Important to keep track of the each and every transaction which contributes for the profit or loss of the business organization.
But in Personal or individual case, it is possible to keep the track of the transactions because they are very small in terms of number and volume of the transactions. But in case of the business organizations everyday thousands of transactions will take place. Hence, it becomes impossible for the human brain to keep track of all the business transactions without the proper system of record maintenance.
In simple words that System of record maintenance of the business transactions its self we can call it as accounting.
Accounting means it is a systematic process of maintaining the records of all business transactions. This accounting has set of rules and regulations which enables the users to have uniformity in their account maintenance.
Accounting identify the business transactions which have monetary or financial implications on the business. It classifies and analyses the business transactions. Then summarizes the business transactions to make meaning full expressions. Then interprets the results of the business transactions to know the financial performance or the position.
Branches of Accounting
Accounting has three branches of accounting
- Financial accounting
- Cost accounting
- Management accounting
Here you can find the Study material for Bangalore University
FINANCIAL ACCOUNTING SYLLABUS DOWNLOAD
Chapter : Introduction to Financial Accounting
Meaning, Definition and scope of Accounting – Objectives of Accounting – Functions of Accounting – Branches of Accounting – Accounting Principles – Accounting Concepts and Conventions – Accounting Standards: Meaning and Objectives – Indian Accounting Standards, IND AS, IFRS – Distinction between IND AS and IFRS.
Download Introduction to Financial Accounting:
Chapter : Royalty Accounts
Meaning and Definition – Terms used – Royalty – Minimum rent – Short workings – surplus royalty – recoupment of short workings – stoppage of work due to abnormal causes – problems on royalty including minimum rent account.
Chapter 01: CONCEPTUAL FRAME WORK OF FINANCIAL ACCOUNTING
Meaning, Definition, Objectives, -Important Terminologies (only meanings) Transaction, debit, credit, Assets, Liabilities, Capital, Drawings, Goods, Distinctions between Goods and Assets, Purchases, Sales, Purchase Returns, Sales Returns, Invoice, Debit Note, Credit Note, Stock, Work-in-progress, Inventory, Incomes, Expenses, Creditors, Debtors-Bills of Exchange, Bills Receivable, Bills Payable, Outstanding Expenses, Accrued Incomes, Prepaid Expenses, Incomes received in Advance, Journal, Journal Entry, Rules for Journal Entry, Subsidiary Books, Journal Proper, Account Carried Down, Brought Down, Carried Forward, Brought Forward, Ledger Accounts, income statement and Balance Sheet- Accounting Equation -Accounting concepts- Entity, money measurement, realization and accrual concept only-introduction to IFRS, US-GAAP, EUROPION-GAAP and JAPANES GAAP (Theory only)
Download Conceptual Framework of Financial Accounting
Chapter : Departmental Accounts
Meaning, Objectives -Basis of allocation of expenses- Trading and profit and loss account in columnar form (Excluding interdepartmental transfers at Invoice price)
Chapter : Insurance claims
Introduction – need- loss of stock policy- Steps for ascertaining fire insurance claims – Treatment of salvage – Average clause – Treatment of abnormal items – Computation of fire insurance claims
Chapter : Consignment Accounts
Introduction – Meaning – Consignor – Consignee – Goods Invoiced at Cost Price – Goods Invoiced at Selling Price – Normal Loss – Abnormal Loss – Valuation of Stock – Stock Reserve – Journal Entries – Ledger Accounts in the books of Consignor and Consignee.
Chapter : Accounting For Joint Ventures
Introduction – Meaning – Objectives – Distinction between joint venture and consignment –Distinction between joint venture and partnership – maintenance of accounts in the books of co-venturers – maintaining separate books for joint venture – preparation of memorandum joint venture – problems.
Thanks To Chandraprabha G V madam, Assistant Professor of Commerce for contribution of this chapter material
Chapter : Branch Accounts
Introduction – Meaning – Objectives – Types of Branches – Dependent Branches – Features – Supply of Goods at Cost Price – Invoice Price – Branch Account in the books of Head Office (Debtors System Only).
Previous Year Question Papers
Here You can download the Advanced Financial Accounting previous year question papers of Second semester B.Com, Bangalore University.
For more updates Subscribe to Gopal’s EduCity YouTube Channel