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3rd Semester Integrated BBA LL.B (Hons) - Financial Accounting - Notes, Question Papers and Syllabus

November 20, 2025 ,

 

Financial Accounting

Objectives

  • To enable the students to acquire knowledge of financial accounting principles and practices.

  • To equip the students with skills for recording various kinds of business transactions.

  • To familiarize the students with the techniques of preparing financial statements.

Module I

Introduction – Nature Of Financial Accounting – Scope – Objects – Limitations – Accounting Concepts And Conventions – Financial Accounting Standards – Object Of Accounting Standards – Accounting Standard Board Of India And Indian Accounting Standards – Accounting Process From Recording Of Business Transactions To Preparation Of Trial Balance (Overview Only).

Module II

Conceptual Framework For Preparation And Presentation Of Financial Statements – Capital, Revenue And Deferred Revenue Expenditure – Capital And Revenue Receipts – Final Accounts Of Sole Proprietor And Not-For-Profit Organizations – Accounting From Incomplete Records – Statement Of Affairs Method And Conversion Method (Simple Problems Only).

Module III

Accounting For Hire Purchase And Installment System – Meaning – Features Of Hire Purchase Agreement – Distinction Between Hire Purchase And Sale – Interest Calculation – Recording Of Transactions In The Books Of Both Parties – Default And Repossession – Installment System – Features – Distinction Between Hire Purchase And Installment.

Module IV

Departmental Accounts – Meaning – Objects – Advantages – Accounting Procedure – Allocation Of Expenses And Incomes – Interdepartmental Transfers – Provision For Unrealized Profit.
Branch Accounts – Features – Objects – Types Of Branches – Dependent Branches – Account Systems – Stock And Debtors System – Independent Branch – Features – Preparation Of Consolidated Profit And Loss Account And Balance Sheet.

Module V

Accounting For Hotels And Restaurants – Introduction – Features – Revenue Earning And Non-Revenue Earning Departments – Heads Of Revenue And Heads Of Expenditure – Working Papers – Journals – Posting – Preparation Of Trial Balance – Preparation Of Final Statements – Trading Account – Profit And Loss Account – Balance Sheet.

Reference Books

  1. S.N. Maheswari: Financial Accounting

  2. Shukla, M.C., T.S. Grewal & S.C. Gupta: Advanced Accounts, S. Chand & Co., New Delhi

  3. Naseem Ahmed, Nawab Ali Khan & M.L. Gupta: Fundamentals Of Financial Accounting, Ane Books Pvt. Ltd., New Delhi

  4. Grewal & Gupta: Advanced Accounting

  5. Dr. V.K. Goyal: Financial Accounting, Excel Books, New Delhi

  6. Radhaswamy & R.L. Gupta: Advanced Accounting, Sultan Chand & Sons, New Delhi

  7. R.K. Malhotra: Financial Management In Hotels And Restaurant Industry, Anmol Publishers

  8. S. Kr. Paul: Advanced Accounting

  9. P.C. Tulasian: Introduction To Accounting, Pearson Education

  10. Jain & Narang: Financial Accounting

  11. Ashok Sehgal & Deepak Sehgal: Advanced Accounting, Vol. I, Taxmann, New Delhi