Courses - AICPE

Course Syllabus

Course Title: Financial Accounting (Skill Development Course)

Course Duration: 9 Months (Part-Time)

Course Objectives:

1. To provide students with a comprehensive understanding of financial accounting principles and systems.

2. To develop students' skills in applying accounting standards and procedures.

3. To enable students to prepare and analyze financial statements.

4. To familiarize students with various accounting transactions and their treatment.

5. To equip students with the knowledge of accounting in specific sectors, such as partnerships, branches, and service sectors.

6. To develop students' ability to control accounting systems and ensure accurate financial reporting.

7. To enhance students' understanding of self-employment opportunities in the field of financial accounting.

8. To enable students to apply accounting knowledge effectively in their careers and personal financial management.

Course Overview:

This course provides a comprehensive study of financial accounting principles, procedures, and standards. It covers various topics ranging from the basics of accounting systems to advanced financial statement preparation and analysis. The course also focuses on specialized areas, such as partnership accounting, branch accounting, and accounting in service sectors. Emphasis is placed on practical application and hands-on learning to ensure students acquire the necessary skills for self-employment and career growth.

Course Teaching Methodology:

1. Lectures: In-class lectures will be conducted to explain accounting concepts, principles, and procedures.

2. Case Studies: Real-world case studies will be analyzed to provide practical insights into accounting practices.

3. Group Discussions: Students will engage in group discussions to foster critical thinking and problem-solving skills.

4. Practical Exercises: Students will be given accounting exercises and problems to apply theoretical concepts in practical scenarios.

5. Computer-Based Training: Accounting software and tools will be utilized to familiarize students with automated accounting processes.

6. Guest Speakers: Industry professionals will be invited to share their experiences and provide insights into self-employment opportunities in the accounting field.

7. Assignments: Regular assignments will be given to reinforce learning and assess students' progress.

Importance for Learner in Career Growth and Self-Employment:

1. Skill Development: The course equips students with the necessary skills and knowledge required for a successful career in financial accounting.

2. Increased Employability: The demand for skilled accounting professionals is high, and completing this course enhances the learner's employability prospects.

3. Entrepreneurship Opportunities: By understanding financial accounting, learners can start their own accounting firms or offer freelance accounting services, leading to self-employment opportunities.

4. Financial Management: The course provides learners with insights into managing their personal finances and making informed financial decisions.

5. Professional Advancement: Mastery of financial accounting concepts opens up opportunities for career growth and advancement in accounting and finance-related roles.

Syllabus:

1) Introduction to Financial Accounting

· Overview of financial accounting

· Generally Accepted Accounting Principles (GAAP)

· Accounting systems and processes

2) Accounting Process

· Journal entries and their recording

· Ledger accounts and posting

· Trial balance preparation and verification

3) Accounting Standards

· Understanding and applying accounting standards

· International Financial Reporting Standards (IFRS) and Indian Accounting Standards (Ind AS)

4) Reconciliation Statements

· Bank reconciliation statement

· Debtors and creditors reconciliation statement

5) Preparation of Accounts

· Preparation of trading, profit and loss accounts

· Balance sheet preparation

6) Accounting for Depreciation, Depletion, Amortization, and Impairment of Assets

· Depreciation methods and calculations

· Treatment of depletion, amortization, and impairment of assets

7) Preparation of Financial Statements

· Statement of cash flows

· Statement of changes in equity

8) Partnership

· Accounting for partnerships: formation, admission, retirement, and dissolution

· Partnership final accounts

9) Branch and Departmental Accounts

· Accounting for branch and departmental transactions

· Preparation of branch and departmental accounts

10) Royalty and Hire-Purchase

· Accounting for royalty transactions

· Hire-purchase agreements and accounting treatment

11) Control of Accounting Systems

· Internal control and its significance

· Control accounts and subsidiary ledgers

12) Self-Balancing Ledgers and Sectional Balancing Ledgers

· Self-balancing ledgers and their use

· Sectional balancing ledgers for cost control

13) Accounting in Service Sectors

· Accounting principles and practices for service-based businesses

· Accounting for non-profit organizations

14) Accounting for Special Transactions

· Consignment accounting

· Joint ventures and their accounting treatment

15) Accounting for Banking, Electricity, and Insurance Companies

· Specific accounting requirements for banking, electricity, and insurance sectors

· Regulatory compliance and reporting

Note: The syllabus can be modified based on the specific requirements of learners or the location, while ensuring the coverage of essential financial accounting topics.