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University of Mumbai, Maharashtra
Accounting and Finance
Financial Accounting - Elements of Financial Accounting-I
University of Mumbai, Maharashtra, Accounting and Finance Semester 1, Financial Accounting - Elements of Financial Accounting-I Syllabus
Financial Accounting - Elements of Financial Accounting-I Lecture notes
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Unit - 1 Accounting Standards Issued by ICAI and Inventory Valuation
Unit 1
ACCOUNTING STANDARDS ISSUED BY ICAI INVENTORY VALUATION
1.1 Introduction
1.2 Objectives of Accounting Standards
1.3 Benefits Limitations of Accounting Standards
1.4 Procedure for Issue of Accounting Standards
1.5 Accounting Standard 1 Disclosure of Accounting Policies
1.6 Accounting Standard 2 Valuation of Inventories
1.7 Accounting Standard 9 Revenue Recognition
1.8 Meaning of Inventory
1.9 Cost for Inventory Valuation
1.10 Inventory Control Systems
1.11 Valuation Meaning Importance
1.12 First In First Out Method of Valuation FIFO
1.13 Weighted Average Method of Valuation
Unit - 2 Final Accounts
UNIT 2
FINAL ACCOUNTS
2.1 Introduction
2.2 CONSIDERATIONS IN ASCERTAINING CAPITAL AND REVENUE EXPENDITURES
2.3 CAPITAL EXPENDITURES AND REVENUE EXPENDITURES
2.4 CAPITAL RECEIPTS AND REVENUE RECEIPTS
2.5 MEANING OF FINAL ACCOUNTS
2.6 PREPARATION OF FINAL ACCOUNTS
2.7 FORMAT OF FINAL ACCOUNTS
2.8 MEANING NEED OF ADJUSTMENT ENTRIES
2.9 ADJUSTMENTS IN FINAL ACCOUNTS
2.10 CLOSING ENTRIES
2.11 TIPS IF BALANCE SHEET NOT TALLIED
Unit - 3 Departmental Accounts
Unit 3
DEPARTMENTAL ACCOUNTS
3.1 Introduction
3.2 Meaning Concept of Departmental Accounting
3.3 Objectives of Departmental Accounting
3.4 Methods Techniques of Departmental Accounting
3.5 Advantages of Departmental Accounting
3.6 Principles of Departmental Accounting
3.7 Basis of Allocation of Common Expenditure among different Departments
3.8 Types of Departments
3.9 Inter Departmental Transfers
Unit - 4 Hire Purchase
Unit 4
HIRE – PURCHASE
4.1 Meaning of Hire Purchase System
4.2 Interest
4.3 Entries in Book Actual Cash Price Paid Method
4.4 Disclosure In Balance Sheet Under Actual Cash Price Paid Method
4.5 Hire Purchase Books of the Vendor
4.6 Hire Purchase Books of Purchaser
4.7 Summary
Download AccFin Sem 1 syllabus pdf
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Other Subjects of Semester-1
Foundation course -i
Business economics - i
Business communication- i
Commerce- business environment - i
Cost accounting - introduction and elements of cost-i
Financial management - introduction to financial management - i
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