MC4104 FUNDAMENTALS OF ACCOUNTING

UNIT I INTRODUCTION TO ACCOUNTING

Introduction to Financial, Cost and Management Accounting - Objectives of Financial
Accounting – Accounting Principles, Concepts and Conventions – Book keeping and
Accounting .
Practical exercise session using Tally.: 1. Company Creation, Creating Groups 2. Creation
of Ledgers and Vouchers .
UNIT II MANAGEMENT ACCOUNTING AND BOOK KEEPING
Meaning-Objectives of Management Accounting-Accounting System – Preparation of
Journal, Ledger, Cash Book and Trial Balance – Errors disclosed and not disclosed by
Trial Balance –Final Accounts - Ratio Analysis
Practical exercise session using Tally.: 1. Creating Contra, Journals, Credit and Debit
Notes 2. Preparing Trial Balance and Final Accounts.
UNIT III BUDGETS AND BUDGETARY CONTROL
Budgets and Budgetary Control-Meaning-Types-Sales Budget-Production Budget-Cost of
Production Budget-Flexible Budgeting-Cash Budget-Master Budget-Zero Base Budgeting
-Computerized Accounting – with adjustments
Practical sessions using Advanced tools in MS-Excel: 1. Preparing Revenue Management
and Portfolio Selection 2. Preparing Final Accounts with Adjustments.
UNIT IV FINANCIAL MANAGEMENT
Objectives of Financial Management- preparation of Suspense Account – Depreciation –
Meaning and Types – Methods of Charging and Providing depreciation – Inventory.
Practical exercise session using Tally.: 1. Preparing Inventory Creation, Purchase order,
Sales Order 2. Preparing Sales Journal, Rejections, Delivery Note.
UNIT V BANK RECONCILIATION STATEMENT AND REPORTING
Preparing Bank Reconciliation Statement (simple problems) – Insurance Claim –
Average Clause - Export and Import of Data, Data Security.
Practical exercise session using Tally.: 1. Preparing the Bank Reconciliation Statement 2.
Preparing the Trading, Profit And Loss Account and Trial Balance