Principles of Accounting

Principles of Accounting is an entry level course for business, finance and management science students. Accounting is very interesting subject and considered most important area in Management Sciences. Normally Principle of Accounting considered as very highly specialized area, but it is not true in real sense. Because, illiterate persons also doing accounting principles procedures and techniques unconsciously in their own informal businesses by using unsystematic ways and means. Accounting Knowledge is here to explore and discuss the modern tools and techniques used for Accounting in systematic and logical manners.

Overall objective of this course is to familiarize students with accounting basics and to develop the ability to evaluate and use accounting data in order to take effective business decisions. This course is an introduction to the basic concepts and principles of accounting as applicable to both merchandising and service-oriented business. Major emphasis is laid on analyzing business transactions, their recording and preparing of end results through trial balance and adjusting entries leading to periodic Financial Statement. The course intends to enhance student’s knowledge of Accounting.

Course Objectives

Principles of accountancy is initial course. Main objective of this course is to understanding of basic financial statements used by business and non-business organizations. 

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S.NoCourse Objective DescriptionTaxonomy Level
OBJ1Express basic concepts and principles of accounting as applicable2
OBJ2Practice different forms of business3
OBJ3Recognize types of accounts along with golden rules of accounting1
OBJ4Analyzing business transactions, their recording and classifying4
OBJ5Preparing trial balance, adjusting entries and rectifying entries5
OBJ6Illustrate merchandising and service-oriented business3
OBJ7Produce accounting for cash3
OBJ8Discuss Inventories and plant & equipment2
OBJ9Construct Financial Statements6
OBJ10Review of computerized accounting systems2
 

Course Outline Principles of Accounting

Principles of Accounting is an introduction to the basic concepts and principles of accounting as applicable to both merchandising and service-oriented business. Major emphasis is laid on analyzing business transactions, their recording and preparing of end results through trial balance and adjusting entries leading to periodic Financial Statements. The course intends to enhance student’s accounting knowledge business areas like accounting for cash, inventories, plant and equipment, and different forms of business.

Here are topics design for Principles of Accounting course along with detailed explanation, supported examples, related problems and solution and much more…

Course Outlines

 

 

 



 Course Learning Outcomes  

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S.NCourse Learning Outcomes DescriptionTaxonomy Level
CLO1Demonstrate different chart of accounts3
CLO2Identify accounting records and how to record transactions2
CLO3Examine a reconciliation of the cash book with the bank statement4
CLO4Prepare a set of financial statements for various forms of businesses and non-profit entities3
CLO5Classify the books of account2

This website makes an excellent companion to any standard text book, or it can be used as a stand-alone. It is designed to present the subject in an easy simple, straight-forward and approachable manner. The authors have worked hard to keep the website update.

 

Good luck in this course. We hope you enjoy the experience and that you put to good use throughout a lifetime of success the accounting knowledge you obtain in this course. We are sure you will not be disappointed.  

 

Recommended Books

 

Jain, S. .., & Narang, K. N. (2014). Advanced Accountancy. New Delhi: Kalyani Publishers.

 

Maheshwari, S. N., & Maheshwari, S. K. (2009). An Introduction to Accountancy. (10th, Ed.) New Delhi: Vikas Publishing House Pvt. Ltd.

 

Maheshwari, S. N., & Maheshwari, S. K. (2009). Financial Accounting. (5th, Ed.) New Delhi: Vikas Publishing House Pvt. Ltd.

 

Mukharji, A., & Hanif, M. (2003). Financial Accounting (Vol. 1). New Delhi: Tata McGraw-Hill Publishing Co.

 

Narayanswami, R. (2008). Financial Accounting: A Managerial Perspective. (3rd, Ed.) New Delhi: Prentice Hall of India.

 

Ramchandran, N., & Kakani, R. K. (2007). Financial Accounting for Management. (2nd, Ed.) New Delhi: Tata McGraw Hill.

 

Sehgal, A., & Sehgal, D. (n.d.). Advanced Accountancy (Vol. I & II). New Delhi: Taxmann Publication Pvt. Ltd.

 

Shukla, M. C., Grewal, T. S., & Gupta, S. C. (2008). Advanced Accountancy (Vol. I & II). New Delhi: S Chand & Co.

 

Shukla, M. C., Grewal, T. S., & Gupta, S. C. (2008). Corporate Accounting. New Delhi: S. Chand and Co.

 

Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2012). Accounting Principles (10th ed.). Hoboken: John Wiley & Sons, Inc.

 

Williams, M., & Bettner, H. (1999). Accounting (The basic for business decisions). (11th, Ed.) USA: Irwin McGraw- Hill. 

 

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8 Comments

  1. Zaheer Ahmed Swati

    Contribution for online students, teacher and professionals…

    Reply
  2. Audu ukwubile.

    Vry interesting.

    Reply
    • zaheer

      Thank you.

      Reply
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  7. Philip

    What are Basic Principles of Accounting?

    Reply

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