WETTER eeeeEeE Course Title: Finaneial Accounting (3 Cr.) Course Code: CACS152 Year/Semester: U/L Class Loud: 5 Hrs. / Week (Theory: 3 Hrs, Tutorial: | Hr., Practica I: 1 Ar) ‘ourse Description This course includes both theoretical as well as practical concept of financial accounting so that students can understand working principle of financial accounting and hence can use the concept in developing application related to financial sector. Course Objectives The general objective of this course is to develop conceptual understanding of the fundamentals of financial accounting system. Course Contents Unit 1 Theoretical Framework 4 Hrs, Meaning and Scope of Accounting: Meaning of Accounting, Procedural Aspects of Accounting, Fvolution of Accounting as a Social Science, Objectives of Accounting, Functions of Accounting, Sub-fields of Accounting, Users of Accounting Information, Relationship of Accounting with Other Disciplines, Limitation of Accounting, Role of Accountant in the Society. Accounting Coneepts, Principles and Conventions: Accounting Concepts. Principles & Conventions — an Overview, Qualitative Characteristics of Financial Statements, Fundamentals Accounting Assumptions, Accounting Standards: Concepts, Objectives, Benefits & An Overview of Nepal Accounting Standards Accounting Policies: Meaning, Selection of Accounting Policies and Changes in Accounting Policies Unit 2 Accounting Process 10 Hrs. Books Of Accounts Leading to The Preparation of Trial Balance, Jounal Entries, Double Entry System, Advantage of Double Entry System, Concepts of Transaction and Events, Classification of Accounts, Golden Rules of Accounting, Advantages of Journal, Ledger, Trial Balance, Subsidiary Books Including Cash Books, Capital and Revenue Expenditures and Receipts, Contingent Assets and Contingent Liabilities, Errors Including Rectifications Thereof, Unit 3 Bank Reconciliation Statement 4 Urs. Introduct scertaining the Causes of Pifferences of Bank Balance in Bank Column of the Cash-Book and in Pass- Book, Procedure for Reconciling the Cash- Book Balance with the Pass-Book Halance, Importance “of Bank Reconeiliation Statement. 4 AN Nee V/ ns,PRETEEEREEERREERERER EEE Unit 4 Depreciation Accounting 4 Hrs. Concepts of Depreciation, Objectives for Providing Depreciation, Methods for Providing Depreciation, Accounting for Depreciation Unit $ Inventories 4 Hrs, Meaning, Basis and ‘Technique of Inventory Valuation, Inventory Recording System, Stock Taking Unit 6 Preparation of Final Accounts for Sole Proprietors 10 Hrs. Concept of Closing Entries in respect of Trading and Profit & Loss Account, Concept of Accrual Basis of Accounting, Matching Concept and Dual Aspecis, Concept on Manufacturing Account, Preparation of Balance Sheet and Classification of Assets and Liabilities Arrangement it 7 Introduce on to Company Accounts 9 Hrs. Meaning of Company, Salient Features of Company, Types of Company Preparation of Financial Statements, Share Capital and its types, Debentures and its types, Distinction between Debentures and Shares, Issue of Shares and Debentures, Redemption of Preference Shares Laboratory Works Laboratory works should be carried out using any accounting packages (such as Tally, Fact etc.) 1o implement the concepts discussed in the above mentioned topics, Teaching Methods The general teaching pedagogy includes class lectures, group discussions, case studies, guest lectur research work, project work, assignments (theoretical and practical), tutorials and examinations (written and verbal), depending upon the nature of the topics. The teaching faculty will det pedagogy as per the need of the topics. mine the choice of teaching Evaluation Examination Scheme Intemal Assessment | External Assessment Theory | Practical Theory | Practical | Total 20 20 © 5 100 GHrs) | GHrs) Page |28‘Text Book Thomas & Anne Marie Ward, “Introduction to Financial Accounting 7) fc Graw Hill 2012 ISBN: 9780077132682 Ref nce Books Narayanaswamy, R. Hall of India, New Dethi, ‘nancial Accounting: A Managerial Perspective”, Prentice Porter, Gary A. Norton, Curtis L., “Financial Accounting: The Impact on Decision Makers”, The Dryden Press, USA. “A KGL an