15CP13T SYLLABUS FINANCIAL ACCOUNTING-1

CP I / MM I	Course Title: Financial Accounting - I
	Hours / Week (L:T:P) : 4:0:0	Total Contact Hours: 52	Course Code: 15CP13T
	Type of Course: Lectures with PPT and Self Study	Credit :04	Core/ Elective: Core

Prerequisite: Knowledge of Basic Englilsh and Basic Mathematical Calculations.

Course Objectives:

The students shall be able to:

1. Know Basic Knowledge of Financial Accounting

2. Familirise with basic terms of accounting.

3. Familiarize with the Methods of Recording various Business

Transactions

4. Acquire necessary Skills to maintain various Books of Accounts

COURSE OUTCOMES : At the end of the course, the students will be able to:
CO1	Explain the basic concepts of book-keeping and accounting
CO2	Acquaint with the basic terms of accounting
CO3	Differentiate various types of books of accounts
CO4	Maintain books of accounts.
CO5	Prepare the trail balance.

COURSE CONTENTS

Unit	Major Topics	Hours Allotted	Weightage of Marks
1	Introduction to Book-Keeping and Accounting:	06	20
2	Systems of Book Keeping and Accounting	06	20
3	Journal:	10	30
4	Ledger:	10	20
5	Subsidiary Books:	06	25
6	Cash Book:	09	25
7	Trial Balance	05	10
Total		52	150

DETAILS OF COURSE CONTENTS

UNIT – I : Introduction to Book-Keeping and Accounting:

Meaning-Definition of Book-Keeping, Accounting,and Accountancy-Objectives of Book-keeping and Accounting-Difference between book-keeping and Accounting- difference between Accounting and Accountancy. - Branches of Accounting – Advantages of Accounting – Disadvantages of Accounting. 06 Hrs

UNIT – II : Systems of Book Keeping and Accounting:

Meaning of Single Entry and Double Entry Systems of Book Keeping and accounting. Advantagaes and disadvantages of Double entry system.

Basic Terms used in of Book Keeping and Accounting: Entity, Event, Transaction, Cash Transaction, Credit Transaction, Goods,Purchases,Sales,Purchases Returns,Sales returns, Stock,Opening Stock ,Closing stock, Debtor, Creditor,Solvent,Insolvent , Assets, Liabilities,Capital, Equity, Drawings,Expenditure, Profit, Loss, Income, Gain, Trade Discount, Cash Discount,Books of accounts,Account, On account, Debit ,Credit, Receipt, Voucher, Bad debts, Doubtful debt., Folio, C/D,B/D, C/F, B/F, Classification of Accounts – Rules for Debit and Credit-,Accounting equations. 06 Hrs

UNIT – III : Journal:

Meaning of Journal – Uses of Journal – Proforma of Journal –Steps in Journal Entries – Recording of Simple and Compound Journal Entries.(Problems and solutions) 10 Hrs

UNIT – IV : Ledger:

Meaning of Ledger-Uses of Ledger-Format of Ledger Account-Posting of Journal Entries into the concerned Ledger Accounts – Balancing of Ledger Accounts –Meaning of debit balance and credit balance(Problems and solutions). 10 Hrs

UNIT – V : Subsidiary Books:

Meaning of Subsidiary Books – Uses of Subsidiary Books – Types of Subsidiary Books – Purchases Day Book - Proforma of Purchases Day Book. – Sales Day Book – Proforma of Sales Day Book – Purchase Returns Book – Proforma of Purchase Returns Book – Sales Returns Book – Proforma of Sales Returns Book – Journal Proper (Problems and solutions). 06 Hrs

UNIT – VI : Cash Book:

Meaning of Cash Book – Types of Cash Book – Single Column Cash Book – Two Column Cash Book – Triple(Three) Column Cash Book (Problems on single column cash book, Two column cash book and three column cash book.)

Petty Cash Book: Meaning – types of petty cash book-(Problems and solutions on Analytical petty cash book under imprest system) 09 Hrs

UNIT – VII : Trial Balance:

Meaning – features- Format of Trial Balance-Preparation of Trial Balance from the ledger account balances.( Problems and solutions) 05 Hrs

RESOUCES: BOOKS FOR REFERENCE:

1) Introduction to Accountancy by T.S.Grewal

2) Double Entry Book Keeping by T.S.Grewal

3) Introduction to Accountancy by S.N. Maheshwari

4) Accountancy by Dr. T V Raju, Sapna Publications.

5) Accountancy Vol I by B.S. Raman

6) Accountancy Vol I by Kadkol

7) Accountancy by Jain and Narang.

8) Introduction to Accountancy – Juneja. C.M. and R.K. Saxena.

9) Accountancy – J.G. Janardhan

10) Accountancy – Reddy and Appananiah

E - BOOK REFERENCE: Fundamentals of Accountancy – Rao, PHIL publication.

Mapping course outcomes with program outcomes:

COURSE OUTCOMES (COs)

Programme Outcomes

Key: M- Moderate Relationship; S- Strong Relationship,

Course Assessment and Evaluation:

	What		To Whom	Frequency	Max Marks		Course Outcomes
					Theory	Evidence Collected
DIRECT ASSESSMENT	CIE -CONTINOUS INTERNAL EVALUATION	I A Tests	Students	Three IA tests (Average marks of three IA tests are considered).	20	Blue Books	1 to 5
		Class room Assignments		Class room Assignments	05	Log Of Activity	2 & 3
				TOTAL	25
	SEE -SEMESTER END EXAMINATION	End Exam		End Of the Course	100	Answer Scripts	1 to 5
INDIRECT ASSESSMENT METHODS	Student Feedback on course		Students	Middle Of The Course	Feed Back Forms
	End Of Course Survey			End Of The Course	Questionnaire

Note: I.A. test shall be conducted for 20 marks. Any decimals shall be rounded off to the next higher digit.

Questions for CIE and SEE will be designed to evaluate the various educational components such as:

1. Remembering and Understanding : 55 % weightage

2. Applying the knowledge acquired from the course : 20 % weightage

3. Analysis : 10 % weightage

4. Evaluation : 05 % weightage

5. Creating new knowledge : 10 % weightage

COURSE WEIGHTAGE

Unit	CONTENTS	CONT ACT HRS	WEIGH TAGE	NO. OF QUESTIONS OF 5 MARKS	NO. OF QUESTIONS OF 10 MARKS	NO. OF QUESTIONS OF 20 MARKS
1	Introduction to Book-Keeping and Accounting	06	20	2	1	0
2	Systems of Book Keeping and Accounting	06	20	2	1	0
3	Journal	10	30	0	1	1
4	Ledger	10	20	0	2	0
5	Subsidiary Books	06	25	3	1	0
6	Cash Book	09	25	1	0	1
7	Trial Balance	05	10	0	1	0
TOTAL		52	150	8	7	2

1.3 FINACIAL ACCOUNTING - I (15CP13T)

MODEL QUESTION PAPER

Time: 3 Hours Max.Marks: 100

Instruction: 1) Answer any SIX Questions from Part – A

2) Answer any FIVE Questions from Part - B

3) Question in Part - C is compuslary

PART - A

(Answer any SIX Questions) 6 x 5 = 30

1. Briefly explain different branches of Accounting. (5)

2. What are the different types of Accounts? State the rules for debiting and crediting the accounts. (5)

3. State the differences between book keeping and accounting (5)

4. Calculate the missing figures using accounting equations. (5)

Assets Liabilities Capital

a. 120000 ? 80000

b. ? 188000 230000

c. 192000 66000 ?

d. ? 117000 223000

e. 98000 115000 ?

5. What do you mean by subsidiary books? State the different types of subsidiary books. (5)

6. Prepare purchases day book from the following transactions: (5)

2012

April 1 Bought 200 kgs of sugar at Rs 30/- per kg.

April 4 Purchased 300 kgs of wheat from surdarshan, Bijapur traders at Rs 40/- per kg

at a trade discount of 5%.

April 6 Bought 500 tins groundnut oil from Krishna oil mills, Haveri, at Rs 400/- per Tin.

April 10 Bought 500 kgs of rice from Shamnur Rice Mills, Davanagere at Rs 40/- per kg.

April 12 Bought 200 Tins of Tea powder from Jayanthi traders, Hubli at Rs 40/- per Tin.

7. Enter the following transactions in the sales book. (5)

2012

March 1 Sold to Avanish and company, Hubli 20 bags of rice at Rs 200/- per bag.

March 8 Sold to Srinivas Bangalore, 100 bags of sugar at Rs 50/- per bag.

March 10 Sold to Naveen of Bombay 200 bags of wheat at Rs 50/- per bag.

March 20 Sold to Dinesh and company, Gadag, 20 bags of groundnut at Rs 100/- per bag.

March 28 Sold to Ashok Hotel,Bangalore, 20 bags of wheat flour at Rs 200/- per bag.

8. Enter the following transactions in a simple cash book and balance the same. 5

2015

Jan 1 Started business with cash Rs 10,000/-

Jan 5 Bought goods for cash Rs 6,000/-

Jan 8 Sold goods to Harish for cash Rs 12,000/-

Jan 10 Paid into bank Rs 2,000/-

Jan 12 Purchased goods from Anil on credit Rs 3,500/-

Jan 14 Paid salary to manager Rs 1,500/-

Jan 18 Bought stationery Rs 500/-

Jan 20 Withdrawn cash for personal use Rs 100/-

Jan 30 Bought furniture Rs 800/-

PART - B

(Answer any FIVE Questions) 5 x 10 = 50

9. Journalise the following transactions in the books of Rahul. 10

2014

March 1 Started business with cash Rs 20000, furniture Rs 10000/-

March 3 Deposited in Canara bank Rs 8000/-

March 5 Bought machinery from Tata Steel Ltd for cash Rs 2000/-

March 6 Purchased goods from Srinath Rs 4500/-

March 8 Sold goods to Virat Rs 6800/-

March 10 Returned goods to Srinath Rs 500/-

March 12 Recieved cash from Virat Rs 4800/- and discount allowed to him Rs 200/-

March 16 Paid salary Rs 2000/-

March 20 Received commission Rs 800/-

March 30 Withdrawn cash for personal use Rs 1500/-

10. Prepare the personal account of Narendra from the following transactions. State whether he is a debtor or creditor. 10

2012 April 1 Debit balance to Narendra’s Account Rs 10000/-

April 2 Sold goods to Narendra Rs 5500/-

April 6 Received from Narendra Rs 6500/-

April 6 Allowed him discount Rs 200/-

April 10 Narendra bought goods on credit from us Rs 2500/-

April 15 Received cash from Narendra 2400/-

April 15 Allowed him discount Rs 100/-

April 20 Purchased goods on credit from Narendra Rs 2500/-

April 25 Paid cash to Narendra Rs 2000/-

April 28 Returned goods to Narendra Rs 250/-

11. From the following transactions, prepare the ledger accounts and balance the same. 10

2014

June 1 Paid into bank Rs 10000/-

June 2 Bought goods from Ekanth Rs 5000/-

June 6 Sold goods to Vijay Rs 2500/-

June 8 Received cash from Vijay Rs 880/- allowed him discount Rs 20/-

June 12 Sold goods for cash to Prasad Rs 2000/-

June 15 Goods returned by Vijay 200/-

June 20 Returned goods to Ekanth Rs 100/-

June 25 Drew from bank for office use Rs 5000/-

June 26 Bought goods for cash Rs 2000/-

June 28 Drew from bank for personal use Rs 2000/-

June 30 Paid for office rent Rs 1000/-

June 30 Paid for office salaries Rs 4000/-

June 30 Paid for general expenses Rs 2000/-

12. Enter the following transactions in proper subsidiary books. 10

2010

July 1 Bought goods from Mohan Rs 6500/-

July 4 Sold goods to Vinod Rs 2000/-

July 5 Allowances claimed from Mohan for shortage Rs 100/-

July 7 Sold goods to Das Rs 2500/-

July 10 Bought goods from Ravindra Rs 4000/-

July 11 Allowances granted to Das for shortage Rs 50/-

July 15 Sold goods to Aravind Rs 2700/-

July 20 Sold goods to Bhavani Rs 3000/-

July 22 Bhavani returned goods Rs 200/-

July 24 Returned goods to Ravindra Rs 300/-

July 26 Sold goods to Gurudas Rs 3500/-

July 27 Allowed Aravind for damaged goods Rs 100/-

July 29 Received goods returned by Gurudas Rs 200/-

13. From the following ledger balances extracted from the books of Ashwath Narayan,

prepare trail balance as on 31-3-2014. 10

1. Office salaries 6280/- 2. Insurance 610/-

3. Sales 73,500/- 4. Bad debts 690/-

5. Plant and machinery 4,300/- 6. Commission paid 1,270/-

7. Stock on 1-4-2013 11,100/- 8. Repairs 980/-

9. Sundry expenses 460/- 10. Refund inwards 1,000/-

11. Discount allowed 1,150/- 12. Rent and rates 3,220/-

13. Purchases 51,760/- 14. Sundry debtors 1,430/-

15. Trade expenses 2,630/- 16. Wages 30,040/-

17. Carriage inwards 240/- 18. Sundry creditors 14,660/-

19. Capital 32,500/- 20. Drawings 3,500/-

14. State the advantages and disadvantages of double entry system of book keeping.

15. Define the term Accounting, state the objectives of Accounting.

PART - C

16. Enter following transactions in a three column cash book of Ramesh. 20

2012

Jan 1 Cash in hand Rs 12500 and at bank 18500

Jan 2 Cash received from Rajan Rs 1450/- in full settlement of his account for Rs 1500/-

Jan 5 Purchased goods and paid by cheque Rs 3500/-

Jan 6 Received a cheque from Ravi Rs 2000/-

Jan 7 Paid Ravi’s cheque into bank

Jan 11 Paid rent in cash Rs 2000/-

Jan 18 Paid to Nagaraj a cheque for Rs 1980/- and he allowed a discount Rs 20/-

Jan 20 Cash withdrawn from bank for office use Rs 2500/-

Jan 25 Purchased stationery Rs 2200/-

Jan 30 Drew from bank for personal use Rs 1700/-

Journalise the following transactions in the books of Dinesh. 20

2014

April 1 Dinesh commenced business with cash Rs 20,000/-

April 2 Deposited cash in canara bank Rs 6,000/-

April 4 Bought goods from Krishna Rs 5,000/-

April 6 Sold goods to Kiran Rs 4,000/-

April 8 Returned goods to Krishna Rs 200/-

April 10 Goods returned by kiran Rs 150/-

April 12 Bought cards, covers and stamps Rs 50/-

April 14 Received from Kiran on account Rs 2,500/-

April 15 Paid to Krishna on account Rs 2,500/-

April 17 Cash sales Rs 3,000/-

April 18 Cash purchases Rs 7,000/-

April 19 Bought stationery Rs 300/-

April 20 Purchased machine from godrej co Rs 5,000/-

April 21 Advanced Keshav Rs 2,000/- as loan

April 22 Paid for repairing machine Rs 200/-

April 23 Received cheque from Kiran for Rs 300/-

April 25 Drew for office use Rs 2,000/-

April 26 Bought office furniture Rs 2,000/-

April 29 Received cash from Kiran Rs 150/-

April 30 Paid salary Rs 500/-

**********

FINANCIAL ACCOUNTING - I

MODEL QUESTION BANK

Theory Questions for 5 Marks:

1. What are the objectives of book-keeping.

2. Explain the advantages of accounting.

3. Explain the disadvantages of accounting.

4. Explain the advantages of double entry system.

5. Explain the disadvantages of double entry system.

6. What are the uses of Journal.

7. Explain the steps involved in Journalising.

8. List out the uses of Ledger.

9. What are the uses of subsidiary books.

10. List out various types of Subsidiary books.

11. Explain various types of Petty cash books.

12. Explain the features of trail balance.

13. Explain the branches of accounting.

14. Classify various types of accounts.

Note: These are only examples for theory questions. Similar questions can be given by the paper setter within the curriculum. Again, problems have to be given depending upon the marks within the curriculum contents.

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15CP13T SYLLABUS FINANCIAL ACCOUNTING-1

COURSE CONTENTS

Subsidiary Books:

Cash Book:

Trial Balance

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