Financial Management

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1. Accounting:                                                                                                

  • Basics of Accounting, Assets and their Classification, Liabilities and their Classification, Accounting Mechanics (Double Entry System, Classification, Golden Rules, Concepts and Conventions.)

2. Journal Ledger and Trial Balance:                          

  • Journal: Meaning, Advantages, Ledger meaning, Posting and Balancing, Trial Balance Objectives, defects, locating errors and preparations of Trial Balance, Subdivision of journal-daybook.

3. Capital and Revenue Expenditure and Receipts:                         

Rules for Determining Capital Expenditure and Revenue Expenditure, Deferred Revenue Expenditure, Capital and Revenue Receipts, Capital and Revenue Profit and Loss.

4. Depreciation and Inventory:                                                                     

  • The nature of depreciation. The accounting concept of depreciation. Factors in the measurement of depreciation. Methods of computing depreciation: straight line method and diminishing balance method; Disposal of depreciable assets- change of method. 
  • Inventories: Meaning. Significance of inventory valuation. Inventory Record Systems: periodic and perpetual. Methods: FIFO, LIFO and Weighted Average. 

5. Final Accounts:                                              

  • Trading Account, Profit and Loss Account, Balance sheet, Closing entries, Uses and Limitations of Balance sheet -  vertical as well as horizontal format

6. Accounting for Non-Profit Organization:                                               

  • Accounting Procedures, Receipts and Payments Accounts, Distinction between    Receipts and Payments Accounts, Income and Expenditure Account problems 

7. Bank Reconciliation Statement                                                                

8. Accounting for Hire Purchase and Installment System                      

  • Calculation of interest ,partial and full repossession,    Hire purchase trading (total cash price basis), stock and debtors system. Concepts of operating and financial lease (theory only).

9. Accounting for Inland Branches                                                         

  • Concept of dependent branches; accounting aspects; debtors system, stock and debtors system, branch final accounts system (only theory) and whole sale basis system( Theory only), Independent branches(theory only); Concept-accounting treatment: important adjustment entries and preparation of consolidated profit and loss account and balance sheet. 

10. Computerized Accounting System - TALLY 9                     

  • Creation of Vouchers, Recording of Transactions; Preparing       Reports ,Ledger accounts, Trial balance, Profit and loss Account ,Balance Sheet.