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DCOM101 Financial Accounting I
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9/13/24, 10:38 DCOM101 FinancialAM Accounting I
FINANCIAL ACCOUNTING-I
Edited By
Manpreet
Kaur
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,9/13/24, 10:38 DCOM101 Financial
AM Accounting I
Printed by
EXCEL BOOKS PRIVATE LIMITED
A-45, Naraina, Phase-I,
New Delhi-
110028 for
Lovely Professional University
Phagwara
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,9/13/24, 10:38 DCOM101 Financial
AM Accounting I
SYLLABUS
Financial Accounting-I
Objectives: To develop conceptual knowledge about the preparation and use of financial statements.
Sr. No. Topics
1. Introduction to Accounting: Needs, objectives, branches, users and Difference between Book- Keeping and
Accounting. Double entry system: Meaning, Importance & rules.
2. Generally Accepted Accounting Principles: Accounting Concepts and conventions. Capital
& revenue items.
3. Accounting Equation and Accounting Cycle.
4. Preparation of Journal, Posting to ledger and Balancing.
5. Subsidiary Books: Purchases, Purchases Return, Sales, Sales Return book and Cash book: Single column,
Double column & triple column cash book including petty cash book.
6. Trial Balance: Different types of errors which are revealed and not revealed by the Trial Balance.
7. Depreciation Accounting: Meaning and methods- Straight line and written down value method.
8. Final Accounts, Adjustments, Final accounts with adjustments.
9. Bank reconciliation statement.
10. Rectification of Errors.
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AM Accounting I
CONTENT
Unit 1: Introduction to Accounting 1
Manpreet Kaur, Lovely Professional University
Unit 2: Double Entry System 11
Pooja, Lovely Professional University
Unit 3: Principles of Accounting 20
Sukhpreet Kaur, Lovely Professional University
Unit 4: Capital and Revenue Items 34
Sukhpreet Kaur, Lovely Professional University
Unit 5: Accounting Equation and Accounting Cycle 41
Pooja, Lovely Professional University
Unit 6: Preparation of Journal 49
Sukhpreet Kaur, Lovely Professional University
Unit 7: Posting to Ledger and Balancing 64
Sukhpreet Kaur, Lovely Professional University
Unit 8; Subsidiary Books 75
Pooja, Lovely Professional University
Unit 9: Cash Book 96
Sukhpreet Kaur, Lovely Professional University
Unit 10: Trial Balance 107
Manpreet Kaur, Lovely Professional University
Unit 11: Depreciation Accounting 122
Manpreet Kaur, Lovely Professional University
Unit 12: Final Accounts 140
Sukhpreet Kaur, Lovely Professional University
Unit 13: Bank Reconciliation Statement 168
Sukhpreet Kaur, Lovely Professional University
Unit 14: Rectification of Errors 180
Pooja, Lovely Professional University
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