CA Foundation Principle And Practice Of Accounting Online Course

Chapters

Topics

1. Theoretical Framework

• Meaning and Scope of accounting

• Accounting Concepts, Principles and Conventions

• Accounting terminology – Glossary

• Capital and revenue expenditure, Capital and revenue receipts, Contingent assets

and contingent liabilities

• Accounting Policies

• Accounting as a Measurement Discipline – Valuation Principles, Accounting Estimates.

• Accounting Standards – Concepts and Objectives.

• Indian Accounting Standards – Concepts and Objectives.

2. Accounting Process

• Books of Accounts

• Preparation of Trial Balance

• Rectification of Errors.

3. Bank Reconciliation Statement

Introduction, reasons, preparation of bank reconciliation statement

4. Inventories

Cost of inventory, Net realizable value, Basis and technique of inventory valuation and record-keeping.

5. Concept and Accounting of Depreciation

Concepts, Methods of computation and accounting treatment of depreciation, Change in depreciation methods.

6. Accounting for Special Transactions

• Bills of exchange and promissory notes

• Sale of goods on approval or return basis

• Consignments

• Average due Date

• Account Current

7. Final Accounts of Sole Proprietors

Elements of financial statements, Closing Adjustment Entries, Trading Account, Profit and Loss Account and Balance Sheet of Manufacturing and Non-manufacturing entities.

8. Partnership Accounts

• Final Accounts of Partnership Firms

• Admission, Retirement and Death of a Partner including Treatment of Goodwill

• Introduction to LLPs and Distinction of LLPs from Partnership.

9. Financial Statements of Not-for-Profit Organizations

• Significance of Receipt Payment Account

• Income

• Expenditure Account

• Balance Sheet Difference between Profit and Loss Account and Income and Expenditure Account

• Preparation of Receipt and Payment Account

• Income and Expenditure Account and Balance Sheet.

10. Introduction to Company Accounts

• Definition of shares and debentures

• Issue of shares and debentures, forfeiture of shares, re-issue of forfeited shares

• Statement of Profit and Loss and Balance Sheet as per Schedule III to the Companies Act, 2013.