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BCOC-131- Financial Accounting

By Prof. Sunil Kumar   |   Indira Gandhi National Open University, New Delhi
Learners enrolled: 2689
Accounting helps the decision-makers of a company to make effective choices, by providing information on the financial status of the business. Today, accounting is used by everyone and a good understanding of it is beneficial to all. Accountancy act as a language of finance. To understand accounting efficiently it is important to understand the different aspects of accounting i.e. Economic Events, Identification, Measurement, Recording, and Communication, and Interested Users of Information. The course mainly focuses on the theoretical framework of Accounting, Accounting Process, Preparation of Financial Statements, Understanding and Interpretation of Financial Statements that helps the different stakeholder to understand and interpret the financial position of business in a very transparent and fair manner. This course also focuses on the emerging need of computer accounting in the present business environment as the use of technology helps in accuracy, reliability and security of financial information on the basis of which policy decisions are taken.

Course Credit 

6

Summary
Course Status : Ongoing
Course Type : Core
Language for course content : English
Duration : 16 weeks
Category :
  • Commerce
Credit Points : 6
Level : Undergraduate
Start Date : 01 Jan 2025
End Date : 30 Apr 2025
Enrollment Ends : 28 Feb 2025
Exam Date : 17 May 2025 IST
Exam Shift :

Shift-II

Note: This exam date is subject to change based on seat availability. You can check final exam date on your hall ticket.

Page Visits



Course layout


BCOC-131- Financial Accounting 

BLOCK 1: THEORETICAL FRAMEWORK

Week-1

Unit-1: Nature and Scope of Accounting

Week-2

Unit-2: Accounting Process and Rules

Week-3

Unit-3: Accounting Principles

Unit-4: Accounting Standards

BLOCK 2: ACCOUNTING PROCESS

Week-4

Unit-5: Journal and Ledger

Week-5

Unit-6: Subsidiary Books

Week-6

Unit-7: Trial Balance and Rectification of Errors

BLOCK 3: FINAL ACCOUNTS

Week-7

Unit-8: Depreciation

Week-8

Unit-9: Final Accounts-I

Week-9

Unit-10: Final Accounts-II

BLOCK 4: HIRE PURCHASE AND INLAND BRANCHES

Week-10

Unit-11: Hire Purchase Accounts-I

Week-11

Unit-12: Hire Purchase Accounts-II

Week-12

Unit-13: Branch Accounts-I

Week-13

Unit-14: Branch Accounts-II

BLOCK 5: CONSIGNMENT AND JOINT VENTURES 

Week-14

Unit-15: Consignment Accounts-I

Unit-16: Consignment Accounts-II

Week-15

Unit-17: Joint Venture Accounts

BLOCK 6: COMPUTERIZED ACCOUNTING

Week-16

Unit-18: Introduction to Computer Accounting and Creation of Company

Week-17

Unit-19: Creating Masters

Week-18

Unit-20: Voucher Entries and Invoicing

Unit-21: Preparation of Reports

Books and references

·       IGNOU Study Material on the course of “Financial Accounting” of B.Com (CBCS) Programme

·     Grewal and Shukla (2020). Financial Accounting: Published by S. Chand (Sultan Chand  Publications), Delhi

·       Hrishikesh Chakraborty (2018). Advanced Accountancy, Published by Oxford University Press.

·   Fundamentals of Advanced Accounting R.S.N Pillai and Bagavathi, S (2020). Published by S Chand Publications

·      Jain S.P and Narang K.L. (2020). Financial Accounting Published by Kalyani Publishers, Delhi.

Instructor bio


Prof. Sunil Kumar Indira Gandhi National Open University, New Delhi

Prof. Sunil Kumar did his Ph.D, M.Phil, and M.Com from University of Rajasthan Jaipur. He has been working at IGNOU for the last 15 years. Prior to this assignment, he worked with GGSIP University New Delhi for about 4 years.  He has been engaged in Teaching, Training, Research and other academic activities. He has published more than 100 Research Papers in reputed International and National Journals. He has presented 23 Research Papers in International and National Conferences. He has been actively involved as Key Note Speaker, Technical Session Chairperson, Guest of Honour, and Resource Person in International and National Conferences. He has been the Resource Person for Academic Staff Colleges of various Universities as well as for the Faculty Development Programmes. He has written more than 65 Chapters/Units in various books and study material of different Universities in the country. He has delivered more than 150 lectures (Live telecast) on Gyan Darshan and Gyan Vani. He has guided 5 Ph.D Research Scholars. He has been on the board of HIPA for imparting the training to Senior Govt. Officers (Class-I) of Haryana Cadre. He has been on the board of Raffles University as Chancellor Nominee. He has been actively involved in the development of academic content with ICAI, ICSI and ICWAI at different capacities. He has been associated with UPSC, UGC, AICTE, NCERT, CBSE, NTA for various academic assignments at different capacities. He is the life member of All India Commerce Congress, All India Accounting Congress and All India Management Association. He has been the Associate Managing Editor of The Indian Journal of Commerce. He has visited France, Sweden, Norway, Denmark, Australia, Newzeland, Holland, Itlay, Germany, Switzerland, Belgium, Bangkok etc. for various academic assignments. He has received Gold Medal for the best research paper award in the year 2014 and Silver Medal for the second best research paper award in 2017.His areas of interest are: Direct Taxes, Tax Planning and Accounting.





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