Financial Accounting – Revised FYBBI Syllabus 2016

Financial Accounting – Revised FYBBI Syllabus 2016

Modules at a Glance

Sr. No. Modules No. of Lectures
1 Introduction to accounting 12
2 Classification of Income & Expenses & Accounting Standards 12
3 Issues of Shares, Stock Valuation & Hire purchase 20
4 Final Accounts 16
Total 60

Financial Accounting – Syllabus Overview

Sr. No. Modules / Units
1 Introduction to accounting
Meaning, scope, objectives, need, importance and limitations of accounting. Basic accounting terminology. Branches of accounting. Accounting concepts, Conventions and Principles. Double Entry System, Classifications of accounts, Rules of debit and credit. Writing of journal Entries and Ledger, Sub division of journal and Trial Balance
2 Classification of Income & Expenses & Accounting Standards
Classifications of Income, Expenditure and Receipts on the basis of capital and revenue. Source documents required for practical accounting. Introduction to Bank Reconciliation Statement and Errors and their Rectification. Accounting Standard 1, 2, 6, 8, 9, 10. Understanding Fair value concept, Overview of Ind-AS vis-a-vis International Financial Reporting Standards (IFRSs).
3 Issues of Shares, Stock Valuation & Hire purchase
Introduction to issue of shares. Stock valuation (FIFO and Weighted Average Method only) Hire Purchase Transactions (calculation of interest, accounting as per asset purchase method only, exclude repossession), Introduction to Depreciation: Fixed Installment method, Written Down Value Method, Change of method. Valuation of goodwill (problems based on average profit method and super profit method only)
4 Final Accounts
Trading Account, Profit and Loss Account, Balance Sheet, Adjustment Entries. Introduction to Accounts of Non Profit Organizations

Reference books for subject: Financial Accounting

Financial Accounting
  • Introduction to Accountancy -T. S. Grewal-(S.Chand & Co.)
  • Double Entry Book Keeping- J. R. Batliboi.
  • Double Entry Book Keeping – M. M. Chokshi
  • Advanced Accounts -Shukia & Grewal (S.Chand & Co.)
  • Advanced Accountancy – R.L.Gupta & M. Radhaswamy
  • Accounting Standards -Institute of Chartered Accountants of India. New Delhi
  • Gupa S C & Shukla, M C: Advanced Accounts Vol.1. New Delhi. S. Chand & Company Ltd.



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