Year: 2018-19

Course Handout
Galgotias University Semester: FALL

Date: 21/08/2018

Course Title : Financial Accounting and Reporting

Course Code : MBDS5006
Instructor-in-Charge : Dr. Tej Singh

Course Description:
As the language of business, accounting provides terminology, frameworks, and concepts to record,
analyze and understand the financial consequences of business activities. Realizing the significance of
financial accounting, this course is designed to facilitate better understanding of the fundamentals of
financial accounting. It would comprise of conceptual framework of accounting, accounting principles
and preparation of main accounting books i.e. journal and ledger as well as final accounts. Besides this, it
would also cover depreciation accounting. It also focuses on understanding both the uses and the
limitation of financial accounting.

Objectives of the course:

1. To analyze the basic accounting concepts, principle and technique of basic business changes.
2. To apply the accounting rules to determine the financial results of business enterprise.
3. To detect Accounting error and rectify them.
4. To examine the structure and content of financial statement, including income statement, balance sheet.
5. To examine the legal and accounting procedure of Issuing share and debenture.
Course Outline (lecture-wise):

Lecture Date Topics to be discussed Readings CO achievement

Module I: Introduction to accounting

The purpose of this module is to acquaint students with the concept of accounting, GAAP and accounting policies.
1 17/7/2018 Meaning of Accounting, Accounting as a Source of Text Book Sofat, R. & CO1
Hiro, P. PHI, 2nd edition
Information, Objectives of Accounting, Role of
Accounting
Lecture Date Topics to be discussed Readings CO achievement

2 • 18/7/2018 Basic Terms in Accounting, Accounting: Text Book Sofat, R. & CO1
Hiro, P. PHI, 2nd edition
3 19/7/2018 Concepts & Conventions(Continued) Text Book Sofat, R. & CO1
Hiro, P. PHI, 2nd edition
4 • 24/7/2018 Accounting Standards Text Book Sofat, R. & CO1
Hiro, P. PHI, 2nd edition
5 • 25/7/2018 Accounting Standards Text Book Sofat, R. & CO1
Hiro, P. PHI, 2nd edition
6 • 25/7/2018 Emerging Dimensions of Accounting http://citeseerx.ist.psu.ed CO1
Education and Research in India. (Case Study) u/viewdoc/download?do
i=10.1.1.488.915&rep=r
ep1&type=pdf
Module II: Accounting rules, Journal, Ledger and Trial Balance

This module will make students understandable regarding basic rules of the entries/transactions, preparation of the journal in
prescribed format, Ledger preparation and its Trial Balance.

7 • 26/7/2018 Understanding Accounting Cycle and Text Book Sofat, R. & CO2
Accounting Equation Hiro, P. PHI, 2nd edition
8 • 31/7/2018 Accounting Equation( Exercise), Types of Text Book Sofat, R. & CO2
Hiro, P. PHI, 2nd edition
account, Rules of debit & credit
9 1/8/2018 Journal entries of transactions Text Book Sofat, R. & CO2
Hiro, P. PHI, 2nd edition
10 • 2/8/2018 ^Posting from Journal to Ledger Text Book Sofat, R. & CO2
Hiro, P. PHI, 2nd edition
11 • 7/8/2018 Subsidiary books (Cash Book, Purchases Text Book Sofat, R. & CO2
(Journal) Book, Sales (Journal) Book Hiro, P. PHI, 2nd edition
12 7/8/2018 Preparation of Trial Balance Text Book Sofat, R. & CO2
Hiro, P. PHI, 2nd edition
13 8/8/2018 CASE STUDY: M/S Hari Ram and Sons H.Kaushal. Page no. 155 CO2

Module III: Errors and its rectification and Depreciation

Students will be able to understand for accounting errors, how they occurred and their rectification. Depreciation and their
valuation on various grounds will also guide the students for depreciation accounting.

14 • 9/8/2018 Accounting Error- Meaning ,Types of error Text Book Sofat, R. & CO3
Hiro, P. PHI, 2nd edition
15 14/8/2018 Rectification of Error- which do not affect trial Text Book Sofat, R. & CO3
balance Hiro, P. PHI, 2nd edition

16 16/8/2018- Rectification of Error- which affect trial Text Book Sofat, R. & CO3
18/8/2018 balance Hiro, P. PHI, 2nd edition
Lecture Date Topics to be discussed Readings CO achievement

17 19/8/2018- Depreciation Text Book Sofat, R. & CO3

20/8/2018 Hiro, P. PHI, 2nd edition

18 21/8/2018 Straight line method Text Book Sofat, R. & CO3

Hiro, P. PHI, 2nd edition

19 22/8/2018 Written down method Text Book Sofat, R. & CO3

Hiro, P. PHI, 2nd edition

Module IV: Preparation of Financial Statement

This module will emphasis on preparation of financial statement with study of various adjustments.

20 23/8/2018- Distinction between Capital and Revenue Text Book Sofat, R. & Hiro, CO4
P. PHI, 2nd edition
21 • 28/8/2018, Preparation of Financial Statements Text Book Sofat, R. & Hiro, CO4
• 30/8/2018- P. PHI, 2nd edition

5/9/2018
6/9/2018 Need for Adjustments, Adjustment Entries- Text Book Sofat, R. & Hiro,
P. PHI, 2nd edition
22 11/9/2018 Adjustment Entries- Outstanding Expenses Text Book Sofat, R. & Hiro, CO4
P. PHI, 2nd edition
23 • 12/9/2018 Bad Debts, Provision for Bad and Doubtful Debts, Text Book Sofat, R. & Hiro, CO4
Provision for Discount on Debtors P. PHI, 2nd edition

24 13/9/2018 Interest on Capital, Interest on Drawings Text Book Sofat, R. & Hiro, CO4
P. PHI, 2nd edition
25 18/9/2018 Trading and Profit and Loss Account Text Book Sofat, R. & Hiro, CO4
(Exercise) P. PHI, 2nd edition

26 19/9/2018 Preparation of Financial Statements Text Book Sofat, R. & Hiro, CO4
P. PHI, 2nd edition
27 20/9/2018 CASE STUDY: CASE STUDY: M.N.O. H. Kaushal. Page no.157 CO4
Ltd.—study

28 • 12/9/2018 Trading and Profit and Loss Account Text Book Sofat, R. & Hiro, CO4
(Exercise) P. PHI, 2nd edition

29 26/9/2018 Preparation of Financial Statements Text Book Sofat, R. & Hiro, CO4
P. PHI, 2nd edition
30 27/9/2018 - Reading of Annual Report-(Company 1) Britannia Annual Report CO4
3/10/2018
Lecture Date Topics to be discussed Readings CO achievement

Report of Britannia Ltd

31 4/10/2018 CASE STUDY: Johnson & Johnson Harvard Business CO4

School Case study:
Johnson & Johnson
Module V: Shares and Debentures, Issue and redemption
Students will be able to understand regarding shares and debentures. Its uses and policies regarding issue and redemptions.
22 9/10/2018 Shares-Meaning, types Shankaranarayana CO5
Chapter 9

33 16/10/2018 Issue of shares Shankaranarayana CO5

Chapter 9

34 • 6/11/2018- Pro rata Allotment and underwriting Shankaranarayana CO5

7/11/2018 Chapter 10

35 13/11/2018 ^Case study: Saint Gobain share issue in June Shankaranarayana CO5
Chapter 10

36 14/11/2018 Buy-Back of share Shankaranarayana CO5

Chapter 10

37 15/11/2018 Debenture – Meaning , types Shankaranarayana CO5

Chapter 10

38 20/11/2018 Issue of Debenture Shankaranarayana CO5

Chapter 10

39 21/11/2018 Redemption of debenture Shankaranarayana CO5

Chapter 10

40 14/11/2018 Students’ Presentation on Underwriting of Shares http://www.transtutors.c CO5

and Debentures
om/questions/case-
study-saint-gobain-
share-issue-in-june-
2009--604657.htm
END TERM EXAMINATION