As you recall, we have primarily covered following topics: INTRODUCTORY (such as accounting concepts,

assumptions, cycle or mechanics), a very brief outline of journal, ledger and trial balance, rules of
debit and credit, transaction analysis, etc.); DEPRECIATION (two methods of depreciation, book
value of assets, profit or loss on sale, schedule II of companies act, dep under income tax act, etc.);
FINANCIAL STATEMENTS (income statement, balance sheet, how to prepare both of them,
explanation to each of the items); NEW FORMAT OF BALANCE SHEET (schedule III of companies act,
alternative terms to fixed assets, basics of analysing financial statements such as percentage change
from previous year, etc.). Therefore, your preparation should revolve around these topics only.
d. I have told the class time and again that they are NOT supposed to be accountants after finishing
the programme. Hence you are not supposed to draw long formats of journal, ledger, and other
forms of primary or secondary books of account. But you are supposed to know the debit and credit
and rules related to them. For instance, you must know the nature of an account (like debit or credit
and its type – nominal, real or personal).
e. If you have practiced well the class demonstration problems, the class handouts, etc. then you have
pretty good chances of faring well in the end-term paper.

If case you face any problem, feel free to write via email. In case of emergency, I am also available on
WA at 8930110930.