Paper 5: Foundation Course in Accounting
Foundation Course in Accounting
SECTION –A
Unit –I: Introduction - Meaning, Scope and importance of Financial Accounting. Financial Accounting -
concepts and conventions, classification of accounts, Rules and principles governing Double Entry Book-
keeping system.
Unit –II: Accounting Books & Record - Meaning, Preparation of Journal, Ledger & Trial balance.
Unit III: Final Account of Joint Stock Companies - Final Accounts of Joint Stock Companies – contents,
and preparation of Trading and Manufacturing, Profit and Loss Account, Profit and Loss Appropriation
Account and Balance sheet with adjustment.
Unit IV: Analysis and Interpretation of Financial Statements - Meaning of financial statements,
objective, utility and limitations of financial analysis, Types of financial analysis, tools and techniques of
analysis, Funds Flow Analysis and Cash Flow Analysis:-concept, Simple problems on preparation of
funds flow statement and cash flow statement.
Unit V: Ratio Analysis - Ratio Analysis - classification of various ratios, Reading the balance sheet and
other financial data to comment on the financial soundness of the firm.
Section -B
Unit –VI: Decision Making Techniques - Management Accounting for Decision Making and Control;
Cost Volume Profit Analysis; EVA and Performance Measurement.
Unit –VII: Performance Evaluation Techniques - Introduction to Budgeting and Budgetary Control;
Classification of Budget; Problems on Flexible and Cash Budgets; Responsibility Accounting.
Unit –VIII: Cost Accounting - Objectives, Classification of Cost, Preparation of statement of cost,
Quotations, Reconciliation of Cost & Financial accounts, Process costing, Marginal Costing, Operating /
Service Costing, Contract Costing
Unit IX: New Approaches for Planning and Implementation of Control Systems - Overview, The
nature and scope, Factors affecting MCS, Strategic Planning and Controls for differentiated situations
Unit X: Applications - Overview of Control in Banking and Non banking finance, Service Industry,
Transnational Companies, Project management and PSE.
Suggested Readings
1.
Financial, Cost and Management Accounting, Dr.P.Periasamy,2
nd
Edition, Himalaya Publishing House
2.
Management Control System by Sekhar, TMH ,New Delhi
3.
Advanced Accounts Volume II By M.C. Shukla, T.S. Grewal, S.C. Gupta S. Chand and company, New Delhi.
4.
Management Accounting, Principles& Practice by Sharma R.K& Gupta S.K.
5.
Management control System by Robert N.Anthony, TMH, New Delhi
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