Sale!

Financial Accounting Handwritten Notes For University or College Exams, Best Friend For MBA Students

(0 customer reviews)

₹199.00 ₹1,999.00

Best easy-to-learn Handwritten Study Notes of Financial Accounting for University or College exams.

⤵️ Get instant Download link, Lifetime Access

⏱️ Save time and avoid your backlogs and late nights notes creation.
created by Masters and Experts

👨‍🏫 No, need to work anymore, our experts have done all the work for you.

OFFER available only for a limited period..

1. Introduction to Financial Accounting

Definition and Scope of Accounting
- Purpose and importance of financial accounting
- Basic accounting concepts and principles
- Types of accounting: Financial, cost, and management accounting
Accounting Terminology
- Assets, liabilities, equity, income, expenses
- Debits and credits
- Accounting cycle
Basic Accounting Equation
- Assets = Liabilities + Owner’s Equity
- Understanding the relationship between different accounts

2. Recording of Financial Transactions

Journal Entries
- Double-entry system
- Rules of debit and credit
- Types of accounts: Personal, real, and nominal accounts
Ledger Accounts
- Posting from journal to ledger
- Trial balance preparation
Subsidiary Books
- Cash book, purchase book, sales book, purchase returns book, sales returns book
- Petty cash book and journal proper

3. Preparation of Financial Statements

Income Statement (Profit and Loss Account)
- Purpose and components: Revenue, cost of goods sold, gross profit, operating expenses, net profit
- Formats of income statement (single-step and multi-step)
Balance Sheet
- Structure and classification: Assets (current and non-current), liabilities (current and non-current), equity
- Format of balance sheet as per accounting standards
Cash Flow Statement
- Definition and purpose
- Classification of cash flows: Operating, investing, and financing activities
- Indirect and direct methods of preparing the cash flow statement

4. Accounting for Transactions

Revenue Recognition
- Recognition of income and revenue
- Revenue from sales, services, interest, and dividends
Inventory Accounting
- Methods of inventory valuation: FIFO (First-In, First-Out), LIFO (Last-In, First-Out), and Weighted Average
- Accounting for inventory write-offs and adjustments
Depreciation Accounting
- Depreciation methods: Straight-line method, reducing balance method, units of production method
- Accounting for depreciation and its impact on financial statements
Bad Debts and Provisions
- Provision for doubtful debts
- Accounting for bad debts and recovery of bad debts

5. Adjustments in Financial Statements

Accruals and Prepayments
- Accounting for accrued income, accrued expenses, prepaid income, and prepaid expenses
Outstanding and Unpaid Expenses
- Treatment of outstanding liabilities and unpaid expenses
Depreciation, Amortization, and Impairment
- Adjustments related to depreciation, amortization of intangible assets, and impairment losses

6. Accounting for Special Transactions

Partnership Accounting
- Partnership agreement and capital accounts
- Profit and loss appropriation account
- Admission, retirement, and death of a partner
- Dissolution of partnership
Company Accounting
- Issuance of shares and debentures
- Share capital: Issue, forfeiture, and reissue of shares
- Dividend distribution
- Reserves and surplus

7. Accounting for Investments

Investment Accounting
- Accounting for investments in shares, debentures, and bonds
- Valuation of investments: Cost method, market value method, and equity method
- Treatment of income from investments (dividends, interest)

8. Accounting for Non-Profit Organizations

Non-Profit Organizations Accounting
- Features of non-profit organizations
- Preparation of income and expenditure account
- Balance sheet of non-profit organizations
- Treatment of donations, subscriptions, and grants

9. Financial Statement Analysis

Ratio Analysis
- Types of ratios: Liquidity ratios, profitability ratios, efficiency ratios, solvency ratios
- Interpretation of financial ratios and their significance
Trend Analysis
- Analyzing financial statements over multiple periods to identify trends and patterns
Common Size Statements
- Preparation and interpretation of common-size income statement and balance sheet

10. Accounting Standards and Regulations

Accounting Standards
- Overview of national and international accounting standards (e.g., IFRS, GAAP)
- Key accounting standards: Revenue recognition, leases, financial instruments
Accounting for Taxes
- Income tax accounting: Deferred tax, current tax
- Tax provisions and tax adjustments in financial statements
Corporate Governance and Ethics
- Importance of corporate governance in financial reporting
- Ethical considerations in financial accounting

11. Accounting Software and Technology

Introduction to Accounting Software
- Use of accounting software for maintaining books of accounts (e.g., Tally, QuickBooks)
- Features of accounting software: Journal entries, financial reporting, reconciliation
Automation in Accounting
- Role of technology in streamlining financial accounting processes
- Cloud-based accounting solutions

12. Advanced Topics in Financial Accounting

Consolidated Financial Statements
- Accounting for group companies: Parent-subsidiary relationships
- Preparation of consolidated balance sheet and income statement
Foreign Currency Transactions
- Accounting for foreign exchange transactions
- Translation of foreign currency financial statements
Leases and Hire Purchase
- Accounting for operating leases and finance leases
- Accounting for hire purchase transactions