Accounting Theory and Practices

PART - A

Unit 1:

1.1  Accounting theory and process: Meaning, relationship with accounting research and practices

1.2  Basic accounting principles

1.3  Job and responsibility of accountant

1.4  Role and responsibility of accountant in auditing

Unit 2:

2.1  Concept, benefits and procedure for issuing accounting standards in India

2.2  Salient features of accounting standards

2.3  Types of accounting standards

2.4  IFRSs and Indian accounting standards; US GAAP

Unit 3:

3.1  Capital and revenue receipt and expenditure

3.2  Preparation of final accounts of firm

3.3  Financial statement of non-profit organisation

PART- B

Unit 4:

4.1  Dependent branches: Accounting aspects, debtors system, stock and debtors system, branch final account system and wholesale basis system

4.2  Independent branches: Concepts

4.3  Foreign Branches: Concepts

Unit 5:

5.1  Nature, objectives and benefits of financial reporting

5.2  General purpose and specific purpose report

5.3  Qualitative characteristics of accounting information

5.4  International financial reporting standards

Unit 6:

6.1  Report: Nature, objectives, benefits and purposes

6.2  Segment reporting

6.3  Interim reporting

6.4  Social accounting, human resource accounting and accounting for changing prices