Agenda No. 1.
02 in AC
Date: 07/07/2021
Vidya Prasarak Mandal’s
K.G. Joshi College of Arts & N.G. Bedekar College of Commerce
(Autonomous College)
(Affiliated to University of Mumbai)
Syllabus for FYBCOM
Program: B.COM.
Course No. - I
Course Code –JBCUCAFM
(Credit Based Semester and Grading System with effect from the academic year 2021-2022)
Specific Programme: Accountancy and Financial Accounting
PREAMBLE
The subject of Accountancy is the backbone of the commerce stream. The study and
understanding of the subject enables a student to peruse its further education as well as equips
to enhance the skills which would be helpful for gaining meaningful employment. The study
and understanding of the course equips the students to understand the various Accounting and
Financial concepts, Costing concepts, Management Accounting concepts, Auditing Concepts
further the students are updated with the various tax laws vis-a-vis the Direct Taxes and the
Indirect taxes. An attempt is made to develop overall knowledge about the recent trends in
Accounting, Finance, Auditing and Taxation. The various courses are also contemplated to
give a practical insight into all the above aspects.
B.Com - Accountancy and Financial Management
Eligibility: A student must have successfully cleared the 12th / HSC examination in
commerce
Duration: Three years (Entire B.Com Course)
Mode of Delivery: Offline (Online in case of emergency)
(Credit Based Semester and Grading System with effect from the academic year 2021–
2022)
PROGRAMME OUTCOMES: Accountancy and Financial Management
PO PO Description
PO1 To impart knowledge about commercial and managerial aspects of
business along with social and ethical issues.
PO2 To acquaint the learners about basic concepts of business
communication, mathematical and statistical tools, environmental and
other social issues related to commerce and management
PO3 To make the learners aware about basic concepts of marketing
management, production management human resource management,
export marketing and financial management along with the recent trends
and developments in it
PO4 To give a working knowledge in respect of cost accounting,
management accounting, financial accounting, auditing and taxation
PO5 To make the learners aware about various aspects of micro and
macroeconomics and also about Indian financial system and recent
development in it
PO6 To acquaint the learners about business law, company secretarial
practices and computer systems, its applications and network
infrastructure
PROGRAMME - SPECIFIC OUTCOMES
PSO PSO Description
PSO1 To equip the students to understand the accounts and finance of a
business unit
PSO2 To acquaint the students to understand the basic principles of
accounting, finance, costing and taxation
PSO3 To provide insight into basic analytical tools of accountancy.
PSO4 To familiarise the students with fundamental concepts and issues of
financial accounts of companies, partnerships etc
DISTRIBUTION OF TOPICS AND CREDITS
Paper
Paper Name Semester Course Nomenclature Course Code Credits
No
Accountancy
Accountancy and
I and Financial I JBCUCAFM 4
Financial
101
Management Management I
Accountancy
Accountancy and
II and Financial II JBCUCAFM 4
Financial
201
Management Management II
COURSE OUTCOMES
Semester 1
Course Nomenclature: – Accountancy and Financial Management -I
Course Code: JBCUCAFMA101
1. To make learner understand about relevant Accounting Standards, Inventory
valuation.
2. To make learner understand Final accounts of manufacturing concern
3. To help learner learn about Hire Purchase accounts.
4. To make learner aware departmental accounting.
COURSE OUTCOMES
Semester II
Course Nomenclature: Accountancy and Financial Management II
Course Code: JBCUCAFM201
1. To make learner understand about Single Entry or accounting from incomplete records
2. To make learner learn about consignment accounts
3. To help learner learn about Reading ledger accounts.
4. To make learner aware concept of fire insurance and calculation of working of claim
The Syllabus approved by the Board of Studies, Academic Council and Governing Body is as
follows –
Semester - I
Course Nomenclature: – Accountancy and Financial Management -I
Course Code: JBCUCAFMA101
Modules Title No. of
Lectures
1 Accounting standards issued by ICAI and Inventory valuation 15
Accounting standards: Concepts, benefits, procedures for issue
of accounting standards Various AS:
AS – 1: Disclosure of Accounting Policies, AS – 2: Valuation of
Inventories (Stock), AS – 9: Revenue Recognition
(a) Purpose.
(b) Areas of Policies.
(c) Disclosure of Policies.
(d) Disclosure of Change in Policies.
(e) Illustrations
Inventory Valuation
Meaning of inventories Cost for inventory valuation Inventory
1.1 systems : Periodic Inventory system and Perpetual Inventory
System Valuation: Meaning and importance Methods of Stock
Valuation as per AS – 2 : FIFO and Weighted Average Method
Computation of valuation of inventory as on balance sheet date:
If inventory is taken on a date after the balance sheet or before
the balance sheet
2 Final Accounts 15
2.1 Expenditure
a) Capital, (b) Revenue
Receipts
a) Capital (b) Revenue
2.2 Adjustment and Closing entries
2.3 Final accounts of manufacturing concerns ( proprietary firm)
3 Departmental Accounts 15
Meaning Basis of Allocation of Expenses and Incomes/Receipts
Inter Departmental Transfer: at Cost Price and Invoice Price
Stock Reserve Departmental Trading and Profit & Loss Account
and Balance Sheet
4 Accounting for Hire Purchase 15
Meaning
Calculation of interest
Accounting for hire purchase transactions by asset purchase
method based on full cash price
Journal entries, ledger accounts and disclosure in balance sheet
for hirer and vendor (excluding default, repossession and
calculation of cash price)
REFERENCES
Ainapure & Ainapure. Financial Accounting, Manan Prakashan, 2020.
Praveen Sharma, Kapileshwar Bhall. Advance Accounting, MacGraw Hill, 2020.
Institute of Chartered Accountants of India (ICAI). Accounting, Board of Studies, 2020.
M.P. Vijay Kumar. First Lessons in Advance Accountancy for CA-IPCC, Snow White,
2017.
Dr. Vijay Saxena. Accounting, Bharat Law Publications, 2018
Semester - II
Course Nomenclature: – Accountancy and Financial Management -II
Course Code: JBCUCAFMA201
EXISTING SYLLABUS AND PROPOSED SYLLABUS
Modules Title No. of
Lectures
1 Accounting from Incomplete Records 15
Introduction
Problems on preparation of final accounts of Proprietary Trading
Concern (conversion method)
2 Consignment Accounts 15
Accounting for consignment transactions
Valuation of stock Invoicing of goods at higher price (excluding
overriding commission, normal/abnormal losses)
3 Branch Accounts 15
Meaning and Classification of Branch
Accounting for Dependent Branch not maintaining full books by
a) Debtors Method b) Stock and Debtors Method
3A Reading of Ledger Accounts 10
Ledger accounts and its interpretation
Understanding of Basic Financial Statements- Horizontal and
Vertical Statements
Balance Sheet, Trading Account, Manufacturing Account, Profit
and Loss account
Reading of Cash and Bank account and its interpretation
3B Branch Accounts 5
Meaning and classification of Branch
Accounting for dependent branch not maintaining full books by
Debtors Method
4 Fire Insurance 15
Computation of loss of stock by fire
Ascertainment of claim as per Insurance Policy
Exclude: Loss of Profit and Consequential Loss
REFERENCES
Ainapure & Ainapure. Financial Accounting, Manan Prakashan, 2020.
Praveen Sharma, Kapileshwar Bhall. Advance Accounting, MacGraw Hill, 2020.
Institute of Chartered Accountants of India (ICAI). Accounting, Board of Studies, 2020.
M.P. Vijay Kumar. First Lessons in Advance Accountancy for CA-IPCC, Snow White,
2017.
Dr. Vijay Saxena. Accounting, Bharat Law Publications, 2018
Fire Insurance 15
Computation of loss of stock by fire
Ascertainment of claim as per Insurance Policy
Exclude: Loss of Profit and Consequential Loss
REFERENCES
Ainapure & Ainapure. Financial Accounting, Manan Prakashan, 2020.
Praveen Sharma, Kapileshwar Bhall. Advance Accounting, MacGraw Hill, 2020.
Institute of Chartered Accountants of India (ICAI). Accounting, Board of Studies, 2020.
M.P. Vijay Kumar. First Lessons in Advance Accountancy for CA-IPCC, Snow White, 2017.
Dr. Vijay Saxena. Accounting, Bharat Law Publications, 2018
Modality of Assessment
A. Internal Assessment: 40% - 40 Marks
Serial No. Evaluation Type Marks
1 Written Class Test 20
2 Assignment 15
3 Attendance and Class Active 05
Participation
Total: 40
B. External Examination: 60%- 60 Marks
Semester End Theory Examination Time: 2 hours
NB. 1. All questions are compulsory.
2. Each question has internal options.
3. Figures to the right indicate marks.
Q1. Objective Questions 15
A. Fill in the Blanks / Multiple Choice Questions 07
B. True or False / Match the Following 08
Q2. Practical Question 15
OR
Q2. Practical Question 15
Q3. Practical Question 15
OR
Q3. Practical Question 15
Q4. A. Theory Question 08
B. Practical Question 07
OR
Q4. Short Notes (Any 3 out of 5) 15
(Note: 15 marks practical questions can be 2 sub questions of 8 and 7 marks each)
