Basic concepts ofindirect taxes.  provisions related to levy and collection of GST 

Valuation rules of GST,  Debit and Credit note under GST & provisions related to Customs Act 

Course Objective:
To acquire Knowledge about bank credit facilities to international traders and to understand the
operation of Documentary credits and application

Course Outcomes:
CO1: To identify International Trade Terms and Export Financing Procedures
CO2: To examine the need for Import financing and the role of EXIM Bank in Import financing
CO3: To explain the risks involved in Credit and illustrate the importance of Credit Risk
 Management. 

Course Objectives
● To introduce basic concepts of International Trade and business and to acquaint
students with the basis of integration of markets at national level and terms and
conditions around the world;
● To familiarize and sensitize students towards trade and its impact on society and
environment.

Course Outcomes
 After the completion of the course, the student will be able to:
 CO1: Define the concepts and factors that trace the growth of international business and also can
 outline and list the theories of international Trade.

 CO2:Explain the reasons for deficit in balance of payments and devise measures to resolve the
 deficit in balance of payment.
 CO3:Describe the various economic institutions facilitating and monitoring world trade.
CO4: Examine commercial policy of a country specifically of India and analyse about
 tariffs,quotas and other barriers to trade.
 CO5: Assess the characteristics and reasons for regional integration around the world and to rank
 some of the trade blocs in the world.

The objective of the course is to teach Concepts: Business, trade, industry and commerce – Business: Features of business- Trade: Classification, Aids to trade – Industry: Classification – Commerce – Relationship between trade industry and commerce – Functions of Business. 

The course also teaches , management, organisation, direction, staffing and control.

The objective of this course is to teach students the Concepts: Business, trade, industry and commerce – Business: Features of business- Trade: Classification, Aids to trade – Industry: Classification – Commerce – Relationship between trade industry and commerce – Functions of Business. Nature of management , planning, organising, staffing, directing and control.

MODULE I: COMPANY ACCOUNTS- SHARE CAPITAL (15 HOURS)
Classification of Share Capital - Types of shares - Issue of Shares- Application, allotment, calls
on shares etc.- Issue of shares for (a) Cash (b) Consideration other than cash - Issue of shares at
par and at premium -Forfeiture and Reissue - Over-subscription – Pro-rata allotment –
Presentation of information in Balance Sheet of a company.(Problems)
MODULE II: COMPANY ACCOUNTS – DEBENTURES (15 HOURS)
Types of debentures - Difference between shares and debentures - Issue of debentures (a) For
cash, (b) For consideration other than cash, (c) As collateral security - Redemption of debentures
- Sinking fund method of Redemption of Debentures(Problems) (Excluding problems on buy
back and purchase of own debentures)
MODULE III: COMPANY FINAL ACCOUNTS (15 HOURS)
Preparation &presentation of Final accounts of joint stock companies as per provisions of
companies Act 2013(Schedule III) Provisions & Reserves- Appropriation out of profits;
Transfer to profits to reserves; payment of dividend- Corporate Dividend tax- Transfer of unpaid
dividend to Investor Education and Protection Fund(Theory), Profit and Loss account -Profit and
Loss Appropriation Account -Balance Sheet- (Problems)
MODULE IV: ACCOUNTS OF HOLDING COMPANIES (15 HOURS)
Concept of holding company – Cost of control - Minority interest – Goodwill – Capital and
revenue profits – Intercompany transactions – Contingent liabilities – Preparation of
consolidated Balance Sheet (Excluding Inter Company Owings & Intercompany Holdings.
Simple problems only)
MODULE V: INVESTMENT ACCOUNTING & INSURANCE CLAIMS (15 HOURS)
INVESTMENT ACCOUNTING: Meaning – Need for separate Investment Accounts –
Classification of Scrips – Ex – Interest, Cum – Interest – Problems on Investment in Debentures
and Shares- Treatment of Bonus Shares and Rights Shares (Theory Only) (Simple Problems)
INSURANCE CLAIMS: Loss of Stock – Preparation of Memorandum trading account –
Preparation of statement of loss of stock – Calculation of insurance claim – Average clause -
Valuation of normal and abnormal loss of stock-Loss of profit (Simple Problems)

CBCS 2024 ADVANCED ACCOUNTING

DEPARTMENT OF COMMERCE, ST.FRANCIS COLLEGE FOR WOMEN,HYDERABAD
5. References:
1. S.P.Jain&K.L.Narang – Advanced Accounting – Kalyani Publishers
2. M.C.Shukla, T.S.Grewal&S.C.Gupta - Advanced Accounts – Vol II - S.Chand
3. R.L.Gupta&M.Radhaswamy - Advanced Accountancy – Vol II - Sultan Chand &
Sons
4. P.C.Tulsian – Financial Accounting – Pearson Education India
5. S.N.Maheswari - Advanced Accountancy Vol II – Vikas Publishing House Pvt. Ltd.
Note: Latest Editions to be used

SEMESTER - I

FINANCIAL ACCOUNTING - I

1.      Course Description

             Programme   : B.COM (A&F, IB, H, CAP, IPP)                                                                   

             Course Code: U24/COM/DSC/101                                                   Max. Hours: 75

             Course Type: DSC                                                                             Hours per week: 5

             No. of Credits: 5                                                                                Max. Marks:100

2.   Course Objective:

To familiarize the student with accounting principles, to impart them the conceptual knowledge of fundamentals of accounting.

3.      Course Outcomes:

After completion of the course, the student will be able:

  CO1: To recall the basic accounting principles and to define GST.

  CO2: To classify various subsidiary books, different types of errors while preparing books   

             of accounts, analyse and rectify the error.

  CO3: To analyse the importance of Bank Reconciliation Statement and the reasons for

             the difference between cash book and pass book balances. 

  CO4: To analyse the reasons for depreciation and prepare asset accounts under various

             methods. 

  CO5: To prepare the financial statements of a Sole Trader.

4.          Course Content

MODULE I - INTRODUCTION TO PRINCIPLES OF ACCOUNTING                      (15 Hrs)

Meaning and objectives of Accounting- Need – Scope – Accounting as a measurement of discipline- Accounting as an information system – Differences between Book keeping & Accounting – Accounting as an Art and Science - Advantages and limitation – Double entry and single entry system - Accounting terminology – Accounting Concepts and Conventions - Accounting equation (Simple problems)- Basic accounting procedure - Source documents - Rules of debit and credit – Journal –Steps in Journalizing - Advantages and limitations of Journalizing Goods and Service Tax (GST): Administration of GST in India, CGST, SGST and IGST, Reverse Charge – Features, Advantages, Disadvantages of GST – Accounting treatment of GST – Goods and Services exempted from GST (A few problems with GST entries) - Ledger - Posting into ledger – Balancing of accounts – Preparation of trial balance (Problems)- Computerization of accounts – Role of computers in Accounting – Advantages and limitations. (Theory and problems)

MODULE II - SUBSIDIARY BOOKS   & RECTIFICATION OF ERRORS                (15 Hrs)

Subsidiary Books: Subdivision of the journal – Subsidiary books: Introduction – Reasons for maintaining subsidiary books-  Classification of subsidiary books - Cash book-  simple, Two-column and Three column cash book - Petty cash book – Purchases book – Sales book – Purchases Returns book – Sales Returns book – Bills Receivable book – Bills Payable book – Journal Proper  ( Theory and Problems)

Rectification of Errors: Introduction – Meaning and need - Objectives of rectification - Types of errors - Rectification of errors – Errors affecting in one account – Errors affecting two or more accounts – Rectification before preparation of final accounts - Suspense a/c - Rectification of errors after final accounts – Effect on Net Profit and Balance Sheet ( Theory and Problems)

MODULE III - BANK RECONCILIATION STATEMENTS                                      (15 Hrs) Introduction to Bank Reconciliation Statement- Definition of Bank Reconciliation Statement- Advantages of Bank Reconciliation Statement – Need of Bank Reconciliation Statement – Reasons for difference between cash book and pass book balances – Problems on favorable and overdraft balances – Ascertainment of correct cash book balance. ( Theory and Problems)

MODULE IV- DEPRECIATION, RESERVES AND PROVISIONS                        (15 Hrs)

Depreciation: Meaning - Need – Ind AS 16 (only basics related to Depreciation)- Definition - Causes of depreciation  - Factors affecting depreciation  - Obsolescence, Depletion, Amortization (only theory) - Methods of providing depreciation: Straight line method -  Written down value method - Sinking fund method (problems including change of method of depreciation) ( Theory and Problems)

Reserve & Provisions: Meaning- importance - Types of reserves - Provision – Difference between reserves and provision (Theory only)      

MODULE V - FINAL ACCOUNTS OF SOLE TRADER                                             (15 Hrs)

Meaning of Final accounts – Concept of Capital and Revenue – Distinction between Capital and Revenue Expenditure – Deferred revenue expenditure – Capital and Revenue Receipts – Capitalized expenditures – Capital and Revenue Losses – Capital and Revenue payments – Debit and Credit balances in Trial Balance - Trading account - Manufacturing account- Profit & Loss account - Balance Sheet- Arrangement of assets & liabilities in Balance Sheet - Use of adjustments in preparation of final accounts - Presentation of final accounts ( Theory and Problems)

Lab work

Creation of a company- accounts group- ledgers- Inventory- stock groups- Rectification of errors- preparation of trading- P&L account- adjusting and closing entries and preparation of Balance sheet using Tally.ERP 9.0

5. References:

1.      S.P.Jain & K.L.Narang - Financial Accounting – Kalyani Publishers 

2.      M.C.Shukla, T.S.Grewal & S.C.Gupta - Advanced Accounts – Vol I   - S.Chand

3.      R.L. Gupta & M.Radhaswamy - Advanced Accountancy – Vol I   - Sultan Chand & Sons

4.      P.C.Tulsian – Financial Accounting – Pearson Education India

5.      S.N.Maheshwari - Advanced Accountancy Vol I – Vikas Publishing House Pvt. Ltd.

6.      M. Hanif and A. Mukherjee – Financial Accounting – Mc. Graw Hill (India) private limited. 

Note: Latest editions are to be used.

6.Syllabus Focus

a) Relevance to Local, Regional, National and Global Development Needs

b) Components on Skill Development/Entrepreneurship Development/Employability

7. Pedagogy

8. Course Assessment Plan

a) Weightage of Marks in Continuous Internal Assessments and End Semester Examination

b) Model Question Paper- End Semester Exam

FINANCIAL ACCOUNTING - I

MODEL QUESTION PAPER

Course Code: U24/COM/DSC/101                                                              Max Marks: 60

Credits: 5                                                                                                       Time: 2Hrs

SECTION – A

I. Answer the following                                                                         (5 x 10 = 50 Marks)

1. What are Concepts & Conventions? Explain 4 concepts and 4 conventions of accounting with suitable examples.

(OR)

2. Answer the following:                                                                         (2 X 5 = 10 Marks)

a.       Show the Accounting equation of Mr A for the following transactions: Commenced Garment business with Cash Rs. 11, 00,000; Buildings Rs.10, 00,000, Furniture Rs.3,00,000 and Machinery bought on Loan Rs.5,00, 000.

1. Purchased goods from Mr. J - Rs.1,00,000.
2. Sold a part of furniture costing Rs. 1,000 for Rs.2,500.
3. An insurance premium paid in advance – Rs. 5,000                                 

b.      Prepare journal entries for the following transactions:                                                       

January 2020

1        Miss H commenced business with Cash Rs.5,00,000; Furniture Rs.45,000; Buildings Rs. 5,00,000;

4        Purchased goods from J for Rs.2,00,000 for cash.

15    Sold goods to Mr. S for Rs.50,000 of which Rs.20,000 was for cash and the balance on credit.

18    Purchased goods from Rahim Rs.10,000.

22    Rent paid in advance Rs.12,000.

3. Examine the following transactions carefully and prepare the cash book with cash, bank, and discount columns for the month of July 2019:

(OR)

4. Answer the following:                                                                            (2 X 5 = 10 Marks)                                            

a.       Explain different types of errors and how to rectify them.

b.      Show how the following errors are rectified which are  discovered before preparation of Trial Balance:

-          Rs. 1,000 spent for repairs of the building has been posted to Buildings a/c.

-          A sale of Rs. 730 to Manmohan has been entered in the Sales book as Rs.370.

-          Goods worth Rs.500 purchased from Kalam has been omitted to be recorded in the books.

-          Rs. 400 paid as salary to clerk has been debited to his personal account.

-          Rs. 75 discount allowed by a creditor has been debited to Discount account.

5. Prepare Bank Reconciliation Statement on the basis of the following information.

On 31^st March 2017, the cash book showed a bank balance of Rs. 5700. On checking the pass book with the cash book, the following differences were found:

                                i.            Cheques worth Rs. 1500 were deposited in the bank on 28^th March 2017, however no credit was given until 31^st March 2017. On 1^st April 2017, bank gave credit of Rs. 1500 and debited Rs, 500 being return of one cheque.

                              ii.            Issued cheque amounting to Rs. 1, 000 before 31^st March of which Rs.400 have been debited in the pass book after 1^st April.

                            iii.            There is a credit of Rs. 75 for interest in the pass book which remains to be adjusted

                            iv.            There is a debit of Rs. 10 in respect of bank charges in the pass book, which is not reflected in the cash book.

                              v.            There is a debit in the pass book on 2^nd April in respect of a cheque paid in on 31^st March and which has been dishonored.

                            vi.             There is a debit of Rs 15. In the pass book for interest on temporary O/D.

                          vii.            There is a debit of Rs. 400 in the pass book for interest on investment collected. This has been adjusted in the cash book.

                        viii.            A B/R for Rs. 700 discounted with the bank for RS 690 in February, has been dishonored as on 31^st March 2017.

                            ix.            There is also a cheque for Rs 70, which has been debited in the bank a/c of the Cash book has been omitted to be banked.

OR

6. Answer the following:                                                                            (2 X 5 = 10 Marks)

a.       What is a Bank Reconciliation Statement and why is it prepared?                                 

b.      Prepare Bank Reconciliation Statement of Santosh as on 31-3-2022                

7. A Second-hand Machinery was purchased on 1^st January 2013 for Rs.30,000 and Rs.6,000 and Rs.4,000 were spent on its repairs and erection immediately.   On 1^st July 2014 another machinery was purchased for Rs.26,000 and on 1^st July, 2015 the first machinery having become obsolete was auctioned for Rs.30,000.   On the same date another was purchased for Rs.25,000.   Depreciation was provided on machinery at the rate of 10% on the original cost annually on 31^st December.  Prepare Machinery Account for all three calendar years.                               

(OR)

8. Answer the following:                                                                                 (2 X 5 = 10 Marks)

a.       Distinguish between Provisions and Reserves.

b.      Prepare the specimen journal entries under the Sinking Fund method of Depreciation for the first year, second year, and last year.                                                                        

9. The following is the trial balance of Mr. Shyam as on 31-3-2020. You are required to prepare Trading, P&L A/C for the year ended and also to show the Balance Sheet as on that date after taking into consideration the additional information:

Additional information:

                                i.            Closing stock is valued at Rs.15,000.

                              ii.            Salaries are outstanding to the extent of Rs.400.

                            iii.            Provision for bad debts is to be maintained at Rs.500 on Debtors.

                            iv.            Insurance Rs.20 is paid in advance.

(OR)

10. Answer the following:                                                                               (2 X 5 = 10 Marks)

a.       ‘Balance Sheet is not an account, it is only the list of balances’. Justify.

b.      Find out Gross Profit from the following figures:                                       

SECTION – B

   II. Answer any five the following                                                         (5 x 2= 10 Marks)

11. What is Goods and Service Tax?  List out any three goods and/or services exempt from levy of GST.
12. List out the subsidiary books of accounts.
13. Explain any 4 reasons for differences in balances of cash book and pass book.
14. Cost of asset = Rs. 11,000; Expected scrap value at the end of its life = Rs.1,000; expected life of asset = 10 years; what is the amount of annual depreciation under straight line method.
15. Ascertain the cost of goods sold from the following figures:

16. Explain Dual aspect Concept and Principle of Consistency.
17. Explain a petty cash book and petty cash book with imprest system.

c) Question Paper Blueprint

d)     Paper setting guidelines as per Blooms Taxonomy

9. CO - PO Mapping:

SEMESTER - I

FINANCIAL ACCOUNTING - I

1.      Course Description

             Programme   : B.COM (A&F, IB, H, CAP, IPP)                                                                   

             Course Code: U24/COM/DSC/101                                                   Max. Hours: 75

             Course Type: DSC                                                                             Hours per week: 5

             No. of Credits: 5                                                                                Max. Marks:100

2.   Course Objective:

To familiarize the student with accounting principles, to impart them the conceptual knowledge of fundamentals of accounting.

3.      Course Outcomes:

After completion of the course, the student will be able:

  CO1: To recall the basic accounting principles and to define GST.

  CO2: To classify various subsidiary books, different types of errors while preparing books   

             of accounts, analyse and rectify the error.

  CO3: To analyse the importance of Bank Reconciliation Statement and the reasons for

             the difference between cash book and pass book balances. 

  CO4: To analyse the reasons for depreciation and prepare asset accounts under various

             methods. 

  CO5: To prepare the financial statements of a Sole Trader.

4.          Course Content

MODULE I - INTRODUCTION TO PRINCIPLES OF ACCOUNTING                      (15 Hrs)

Meaning and objectives of Accounting- Need – Scope – Accounting as a measurement of discipline- Accounting as an information system – Differences between Book keeping & Accounting – Accounting as an Art and Science - Advantages and limitation – Double entry and single entry system - Accounting terminology – Accounting Concepts and Conventions - Accounting equation (Simple problems)- Basic accounting procedure - Source documents - Rules of debit and credit – Journal –Steps in Journalizing - Advantages and limitations of Journalizing Goods and Service Tax (GST): Administration of GST in India, CGST, SGST and IGST, Reverse Charge – Features, Advantages, Disadvantages of GST – Accounting treatment of GST – Goods and Services exempted from GST (A few problems with GST entries) - Ledger - Posting into ledger – Balancing of accounts – Preparation of trial balance (Problems)- Computerization of accounts – Role of computers in Accounting – Advantages and limitations. (Theory and problems)

MODULE II - SUBSIDIARY BOOKS   & RECTIFICATION OF ERRORS                (15 Hrs)

Subsidiary Books: Subdivision of the journal – Subsidiary books: Introduction – Reasons for maintaining subsidiary books-  Classification of subsidiary books - Cash book-  simple, Two-column and Three column cash book - Petty cash book – Purchases book – Sales book – Purchases Returns book – Sales Returns book – Bills Receivable book – Bills Payable book – Journal Proper  ( Theory and Problems)

Rectification of Errors: Introduction – Meaning and need - Objectives of rectification - Types of errors - Rectification of errors – Errors affecting in one account – Errors affecting two or more accounts – Rectification before preparation of final accounts - Suspense a/c - Rectification of errors after final accounts – Effect on Net Profit and Balance Sheet ( Theory and Problems)

MODULE III - BANK RECONCILIATION STATEMENTS                                      (15 Hrs) Introduction to Bank Reconciliation Statement- Definition of Bank Reconciliation Statement- Advantages of Bank Reconciliation Statement – Need of Bank Reconciliation Statement – Reasons for difference between cash book and pass book balances – Problems on favorable and overdraft balances – Ascertainment of correct cash book balance. ( Theory and Problems)

MODULE IV- DEPRECIATION, RESERVES AND PROVISIONS                        (15 Hrs)

Depreciation: Meaning - Need – Ind AS 16 (only basics related to Depreciation)- Definition - Causes of depreciation  - Factors affecting depreciation  - Obsolescence, Depletion, Amortization (only theory) - Methods of providing depreciation: Straight line method -  Written down value method - Sinking fund method (problems including change of method of depreciation) ( Theory and Problems)

Reserve & Provisions: Meaning- importance - Types of reserves - Provision – Difference between reserves and provision (Theory only)      

MODULE V - FINAL ACCOUNTS OF SOLE TRADER                                             (15 Hrs)

Meaning of Final accounts – Concept of Capital and Revenue – Distinction between Capital and Revenue Expenditure – Deferred revenue expenditure – Capital and Revenue Receipts – Capitalized expenditures – Capital and Revenue Losses – Capital and Revenue payments – Debit and Credit balances in Trial Balance - Trading account - Manufacturing account- Profit & Loss account - Balance Sheet- Arrangement of assets & liabilities in Balance Sheet - Use of adjustments in preparation of final accounts - Presentation of final accounts ( Theory and Problems)

Lab work

Creation of a company- accounts group- ledgers- Inventory- stock groups- Rectification of errors- preparation of trading- P&L account- adjusting and closing entries and preparation of Balance sheet using Tally.ERP 9.0

5. References:

1.      S.P.Jain & K.L.Narang - Financial Accounting – Kalyani Publishers 

2.      M.C.Shukla, T.S.Grewal & S.C.Gupta - Advanced Accounts – Vol I   - S.Chand

3.      R.L. Gupta & M.Radhaswamy - Advanced Accountancy – Vol I   - Sultan Chand & Sons

4.      P.C.Tulsian – Financial Accounting – Pearson Education India

5.      S.N.Maheshwari - Advanced Accountancy Vol I – Vikas Publishing House Pvt. Ltd.

6.      M. Hanif and A. Mukherjee – Financial Accounting – Mc. Graw Hill (India) private limited. 

Note: Latest editions are to be used.

6.Syllabus Focus

a) Relevance to Local, Regional, National and Global Development Needs

b) Components on Skill Development/Entrepreneurship Development/Employability

7. Pedagogy

8. Course Assessment Plan

a) Weightage of Marks in Continuous Internal Assessments and End Semester Examination

b) Model Question Paper- End Semester Exam

FINANCIAL ACCOUNTING - I

MODEL QUESTION PAPER

Course Code: U24/COM/DSC/101                                                              Max Marks: 60

Credits: 5                                                                                                       Time: 2Hrs

SECTION – A

I. Answer the following                                                                         (5 x 10 = 50 Marks)

1. What are Concepts & Conventions? Explain 4 concepts and 4 conventions of accounting with suitable examples.

(OR)

2. Answer the following:                                                                         (2 X 5 = 10 Marks)

a.       Show the Accounting equation of Mr A for the following transactions: Commenced Garment business with Cash Rs. 11, 00,000; Buildings Rs.10, 00,000, Furniture Rs.3,00,000 and Machinery bought on Loan Rs.5,00, 000.

1. Purchased goods from Mr. J - Rs.1,00,000.
2. Sold a part of furniture costing Rs. 1,000 for Rs.2,500.
3. An insurance premium paid in advance – Rs. 5,000                                 

b.      Prepare journal entries for the following transactions:                                                       

January 2020

1        Miss H commenced business with Cash Rs.5,00,000; Furniture Rs.45,000; Buildings Rs. 5,00,000;

4        Purchased goods from J for Rs.2,00,000 for cash.

15    Sold goods to Mr. S for Rs.50,000 of which Rs.20,000 was for cash and the balance on credit.

18    Purchased goods from Rahim Rs.10,000.

22    Rent paid in advance Rs.12,000.

3. Examine the following transactions carefully and prepare the cash book with cash, bank, and discount columns for the month of July 2019:

(OR)

4. Answer the following:                                                                            (2 X 5 = 10 Marks)                                            

a.       Explain different types of errors and how to rectify them.

b.      Show how the following errors are rectified which are  discovered before preparation of Trial Balance:

-          Rs. 1,000 spent for repairs of the building has been posted to Buildings a/c.

-          A sale of Rs. 730 to Manmohan has been entered in the Sales book as Rs.370.

-          Goods worth Rs.500 purchased from Kalam has been omitted to be recorded in the books.

-          Rs. 400 paid as salary to clerk has been debited to his personal account.

-          Rs. 75 discount allowed by a creditor has been debited to Discount account.

5. Prepare Bank Reconciliation Statement on the basis of the following information.

On 31^st March 2017, the cash book showed a bank balance of Rs. 5700. On checking the pass book with the cash book, the following differences were found:

                                i.            Cheques worth Rs. 1500 were deposited in the bank on 28^th March 2017, however no credit was given until 31^st March 2017. On 1^st April 2017, bank gave credit of Rs. 1500 and debited Rs, 500 being return of one cheque.

                              ii.            Issued cheque amounting to Rs. 1, 000 before 31^st March of which Rs.400 have been debited in the pass book after 1^st April.

                            iii.            There is a credit of Rs. 75 for interest in the pass book which remains to be adjusted

                            iv.            There is a debit of Rs. 10 in respect of bank charges in the pass book, which is not reflected in the cash book.

                              v.            There is a debit in the pass book on 2^nd April in respect of a cheque paid in on 31^st March and which has been dishonored.

                            vi.             There is a debit of Rs 15. In the pass book for interest on temporary O/D.

                          vii.            There is a debit of Rs. 400 in the pass book for interest on investment collected. This has been adjusted in the cash book.

                        viii.            A B/R for Rs. 700 discounted with the bank for RS 690 in February, has been dishonored as on 31^st March 2017.

                            ix.            There is also a cheque for Rs 70, which has been debited in the bank a/c of the Cash book has been omitted to be banked.

OR

6. Answer the following:                                                                            (2 X 5 = 10 Marks)

a.       What is a Bank Reconciliation Statement and why is it prepared?                                 

b.      Prepare Bank Reconciliation Statement of Santosh as on 31-3-2022                

7. A Second-hand Machinery was purchased on 1^st January 2013 for Rs.30,000 and Rs.6,000 and Rs.4,000 were spent on its repairs and erection immediately.   On 1^st July 2014 another machinery was purchased for Rs.26,000 and on 1^st July, 2015 the first machinery having become obsolete was auctioned for Rs.30,000.   On the same date another was purchased for Rs.25,000.   Depreciation was provided on machinery at the rate of 10% on the original cost annually on 31^st December.  Prepare Machinery Account for all three calendar years.                               

(OR)

8. Answer the following:                                                                                 (2 X 5 = 10 Marks)

a.       Distinguish between Provisions and Reserves.

b.      Prepare the specimen journal entries under the Sinking Fund method of Depreciation for the first year, second year, and last year.                                                                        

9. The following is the trial balance of Mr. Shyam as on 31-3-2020. You are required to prepare Trading, P&L A/C for the year ended and also to show the Balance Sheet as on that date after taking into consideration the additional information:

Additional information:

                                i.            Closing stock is valued at Rs.15,000.

                              ii.            Salaries are outstanding to the extent of Rs.400.

                            iii.            Provision for bad debts is to be maintained at Rs.500 on Debtors.

                            iv.            Insurance Rs.20 is paid in advance.

(OR)

10. Answer the following:                                                                               (2 X 5 = 10 Marks)

a.       ‘Balance Sheet is not an account, it is only the list of balances’. Justify.

b.      Find out Gross Profit from the following figures:                                       

SECTION – B

   II. Answer any five the following                                                         (5 x 2= 10 Marks)

11. What is Goods and Service Tax?  List out any three goods and/or services exempt from levy of GST.
12. List out the subsidiary books of accounts.
13. Explain any 4 reasons for differences in balances of cash book and pass book.
14. Cost of asset = Rs. 11,000; Expected scrap value at the end of its life = Rs.1,000; expected life of asset = 10 years; what is the amount of annual depreciation under straight line method.
15. Ascertain the cost of goods sold from the following figures:

16. Explain Dual aspect Concept and Principle of Consistency.
17. Explain a petty cash book and petty cash book with imprest system.

c) Question Paper Blueprint

d)     Paper setting guidelines as per Blooms Taxonomy

9. CO - PO Mapping:

Course Objectives
● To understand, plan, and execute the process of data collection.
● To inculcate presentation, analytical, and computational abilities.

Course outcomes
On successful completion of the course the student will be able:
CO1: To define the Basic Concepts of Statistics.
CO2: To solve Averages using formulas.
CO3: To compare and analyze the data in dispersion through variance analysis.
CO4: To compare, analyze, and interpret the data using Correlation and Regression
CO5: To devise and develop an action plan using graphical presentation and predicting trend
analysis in time series.

Course Out Comes:

CO 1: Students will be able to outline the Strategic Management process and conduct an  environmental analysis

CO 2: Students will be able to explain the need for various strategies at the corporate level &  their implementation at the functional level

CO3: Students will be able to recommend measures for strategic evaluation & control

Course Objective:
To enable students to understand the components of e-commerce

Course Outcomes:
CO1: To Understand the basics of E-commerce, current and emerging business models.
CO2: To Classify and compare the basic business operations (buying and selling)
 traditionally and on web.
CO3: To Understand the importance of security while performing transactions online.
CO4: To Acquaint with the emerging modes of e-payment.
CO5: To evaluate the need of mobile commerce

Course Outcomes:

CO1: List the heads of incomes for tax planning

CO2: Explain the areas for tax management 

CO3 : Discuss the tax management with relevance to the place of setting up of business 

Course Objectives
•To impart the basic knowledge of the Provisions of the Companies Act, 2013
• To summarise the processes involved in the formation and winding up of a company.
• To explain the rights and duties of directors of companies.

Course Outcomes
After the completion of the course, the student will be able to:
CO 1: Define the concept of “Veil of In-corporation” and identify the situations where
the veil of incorporation maybe lifted.
CO 2:Explain the key components required in Memorandum of Association & Articles
of Association.
CO 3: Explain the legal obligations of directors to act in the best interests of the
company.
CO 4: Recall key legal terms and concepts relevant to company meetings.
CO 5: Analyze the situations necessitating the winding up of a company

To impart basic knowledge of the provisions of the Companies Act 2013 . Case studies
involving issues in corporate laws are required to be discussed.

1. Course Objectives:
● To build a comprehensive idea about the entrepreneurship culture and motivate the
students to be self employed.
● To help the students to develop the entrepreneurial skills.

2. Course Outcomes:
After the successful completion of the course, the student will be able to:
CO1: Explain the entrepreneurial Opportunities and challenges in the current scenario.
CO2: Identify the initial process required to initiate a business plan and project formulation,
appraisal & evaluation.
CO3: Discuss the various sources of finance, institutional support and government policy.
CO4: Explain about MSME’s and their role in the economic development.
CO5: Examine the business risk and strategies for growth.

CO1: To relate the Basic Concepts of Costing principles and apply the same to Cost sheet.
CO2: To identify the different methods for effective material purchases storage and issues.
CO3: To identify the different methods for labour remuneration and to justify the apportionment
 and absorption of overheads.
CO4: To be able to use the different methods of costing and classify according to the nature of
 the product.
CO5: To solve the practical problems with Abnormal loss and gains and preparation of
 respective accounts

After completion of the course, the student will be able:

 CO1: To recall the basic accounting principles and to define GST.

CO2: To classify various subsidiary books, different types of errors while preparing books    of accounts, analyse and rectify the error.

CO3: To analyse the importance of Bank Reconciliation Statement and the reasons for  the difference between cash book and pass book balances.

  CO4: To analyse the reasons for depreciation and prepare asset accounts under various  methods.  

CO5: To prepare the financial statements of a Sole Trader. 

Course Objective:
To develop an understanding of the principles of cost accounting with focus on cost
ascertainment of the elements of cost and cost book keeping practices.
Course Outcomes:
CO1 : Understand the elements of cost and develop the ability to prepare Cost Sheet.
CO2: Interpret the various methods of pricing of materials
CO3: Develop knowledge to compute labour cost and application of various remuneration and
 incentive plans.
CO4: Understand Functional classification of overheads and develop the ability to prepare
 Overhead distribution summaries and compute overhead absorption rates including
 Machine Hour rate.
CO5: Develop the ability to reconcile cost and financial profits and apply specific order costing
 procedures .

Course Objective:
The objective of the course is to familiarize and acquaint the student with various tools and
techniques of analysis of financial statements. They will also get acquainted with statutory
requirements of financial reporting.
Course Outcomes:
CO1: To examine the financial statements
CO2: To apply the tools and techniques for analyzing the financial statements
CO3: To comprehend ratios and their importance for analyzing the company
CO4: To apply for analyzing and interpreting the financial position of the company
CO5: To prepare and analyze Fund Flow statement
CO6: To prepare and analyze Cash flow statement
CO7: To develop a greater level of understanding of financial measures
CO8: To examine the process of statutory financial reporting.                                                                      CO9: To discuss the concept of financial distress
CO10: To inspect the reasons of distress in a firm 

Course Objective: 

The objective of the course is to familiarize with analysis of securities market, valuation of different securities and to help students in building optimal portfolio and the students with latest concepts and trends in the securities market.

Course Outcome:  At the end of this course the student will be able to

CO1 Examine and apply the fundamental analysis for real time financial data

CO2 Examine and apply the Technical analysis for real time financial data

CO3 Explain and apply various share valuation techniques

CO 4 Explain and apply various bond valuation techniques

CO 5 Discuss and apply CAPM technique

CO 6Discuss and apply Arbitrage Pricing Theory

CO 7Analyse and evaluate the portfolio performance 

CO 8 Calculate and understand various types of stock Indices

CO 9 Explain and use various techniques of portfolio Revision

CO 10 Understand and describe the concept of international Investing