Financial Accounting – Syllabus | BBA (Pokhara University) First Semester

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Financial AccountingPokhara University (PU)
Syllabus of “Financial Accounting – I”
BBA (Bachelor of Business Administration)
For: First Year | First Semester
ACC 101.3 | Credit Hours: 3

Course Objectives:
This course aims to provide students with the basic concepts and practices of financial accounting with a view to develop their skills in preparing and presenting the financial statements of an organization as a part of the accounting information system.

Course Contents:

  1. 1. Introduction: 4 hours
    Concept of accounting, forms of business organizations and nature of business activity; users of accounting information and their needs; fields of accounting; financial statements: the tools for communication; generally accepted accounting principles; qualitative characteristic of accounting information; objectives of financial statements; the accounting profession
  2. Recording, Handling and Summarizing the Accounting Information: 9 hours
    Role of source documents, Recording of transaction and events, the accounting equation; the double entry system; analysis of transactions; rules of debits and credits for assets, expenses, liabilities, capital and income; cash accrual and hybrid system of accounting; journal – general and special including cash and bank books; role of vouchers, T – accounts; trial balance; concepts of the annual report and financial statements
  3. Income Statement: 4 hours
    Concepts of income statement; major components of income statements: revenues, cost of sales, gross margin, administrative expenses, selling and distribution expenses, gains and losses, net income and retained earnings; formats of income statements; retained earning statements, preparation of income statement (vertical multi-step format)
  4. Balance Sheet: 4 hours
    Concepts of balance sheet; major components of balance sheet: assets, liabilities and stockholders’ equity; preparation of balances sheet (vertical, classified format)
  5. Work Sheet: 8 hours
    Accrual and adjusting entries; T-accounts, opening and closing entries; preparation of Income statement and Balance sheet with adjustments using a work sheet.
  6. Statement of Cash Flows: 8 hours
    Cash flows and accrual accounting; purpose of the statement of cash flows; operating, investing and financing activities; formats of statement of cash flows; preparation of cash flow statement (vertical format)
  7. Annual Report: 2 hours
    Meaning and components of an annual report
  8. Accounting Information System and the Use of Computers in Accounting: 9 hours
    Accounting information system in modern business organizations; role of computers in accounting; recording transactions, extracting ledger, trial balance and presenting the financial statements received from the accounting package; using computerized accounting software; retrieving various reports from the system

Text Book:

  1. Porter, Gary A. Norton, Curtis L.: Financial Accounting: The Impact on Decision Makers, The Dryden Press, USA.

Reference Books:

  1. R. Narayanswamy: Financial Accounting: A Managerial Perspective, Prentice Hall of India.
  2. Accounting Package
  3. Sharma, Narendra, Acharya, C: Financial Accounting, Budha Academic Centre

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