TS Degree 1st sem Financial Accounting 1 Syllabus 2025

Financial Accounting 1: TS Degree 1st sem syllabus 2025

Unit 1: Accounting Process

Financial Accounting: Introduction – Definition – Evolution – Functions – Advantages and Limitations – Users of Accounting Information – Branches of Accounting – Accounting Principles: Concepts and Conventions – Accounting Standards – Meaning – Importance – List of Accounting Standards issued by ASB – Accounting System -Types of Accounts – Accounting Cycle – Journal – Ledger and Trial Balance (Including Problems)

Unit 2:  Subsidiary Books & Rectification of Errors

 Meaning – Types: Purchases Book – Purchases Returns Book – Sales Book – Sales Returns Book – Bills Receivable Book – Bills Payable Book – Cash Book: Single Column, Two Column, Three Column and Petty Cash Book – Journal Proper (Including Problems) Rectification of Errors: Types of Errors – Suspense Account – Effect of Errors on Profit (Including Problems)

Unit 3: Bank Reconciliation Statement

Meaning – Need – Reasons for differences between Cash Book and Pass Book balances -Favourable and Overdraft balances – Ascertainment of correct Cash Book balance (Amended Cash Book) – Preparation of Bank Reconciliation Statement (Including Problems)

Unit 4: Depreciation Accounting

Depreciation (Ind-AS-16): Meaning – Causes – Difference between Depreciation, Amortization and Depletion – Objectives of providing for depreciation – Factors affecting depreciation – Accounting Treatment – Methods of Depreciation: Straight Line Method – Diminishing Balance Method and Sum of the Units Method (Including Problems)

Unit 5: Final Accounts of Sole Trader

Final Accounts of Sole Trader: Capital and Revenue Expenditure – Capital and Revenue Receipts: Meaning and Differences -Deferred Revenue Expenditure. 

Final Accounts of Sole Trader: Meaning – Uses – Preparation of Manufacturing, Trading and Profit & Loss Account and Balance Sheet -Adjustments – Closing Entries (Including problems)

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