Financial & Management Accounting-I LU BBA 1st Semester lu Notes
BY LU NOTES😚
2024-2025 syllabus
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Bases of accounting; cash basis and accrual basis
Information perception of different users
Ethical issues in accounting
Generally accepted accounting principles (GAAP)
Introduction and significance of Indian Accounting Standards and IFRS
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UNIT 2
Classification of Accounts
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Recording and posting of transactions
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Preparation of trial balance
Capital and revenue income and expenditure
Preparation of final accounts of business: Profit and Loss Account and Balance Sheet of Sole Proprietorship
Adjustment Entries: Inventory, Depreciation, Provision for Bad Debts, Accrued, prepaid, outstanding and unearned income and expenditure
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UNIT 3
Accounting for Assets: Valuation of inventories: Meaning, Significance of inventory valuation
Inventory Record Systems: Periodic and perpetual
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Methods: FIFO, LIFO, and Weighted Average
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Depreciation – meaning and Methods of Depreciation: SLM & WDV
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Bank reconciliation statement
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Introduction to corporate Accounting: Preparation of financial Statements of a company and contents of annual report
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UNIT 4
Analysis of Financial Statements – meaning, types, and techniques
Trend analysis
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Ratio analysis
Statement of Cash Flow – Indirect method
