Financial Accounting DU 1st Semester (DSC-1.3)

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About Course

Complete Exam-Ready Course for Delhi University Students

Are you in 1st Semester at Delhi University, (Bcom Prog./Bcom Hons.) and struggling to prepare for your Financial Accounting exam?

This one complete course gives you everything you need to score 100% Full marks, even if you haven’t studied a single chapter yet.

This is not just another theory course. It’s a targeted, exam-oriented program built strictly as per DU syllabus — designed to make you exam-ready in minimum time with maximum understanding.

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What Will You Learn?

  • 📘 Made for DU Students, by DU Experts
  • Content strictly aligned with University of Delhi syllabus and paper pattern.
  • 🎯 Guaranteed Exam Success
  • Study smart with the exact material DU examiners expect — no extra theory, only what scores marks.
  • ⏱️ Time-Saving & Fully Structured
  • Every unit, topic, and concept explained in the same order as your DU textbook, so you don’t get lost.
  • 💻 Learn Anytime, Anywhere
  • Access lectures 24×7 from your phone or laptop — at your own pace.
  • 🔥 Enroll Now – Limited Seats for Live Guidance Batch!
  • 🚀 Don’t risk your semester marks. Join now and turn your DU exam into a guaranteed success story.

Course Content

Unit 1: Theoretical Framework and Accounting Process:
(A) Conceptual Framework (i) Accounting as an information system, the users of financial accounting information and their needs. An overview of Artificial Intelligence and Data Analytics in Accounting. (ii) Qualitative characteristics of accounting information. Functions, advantages and limitations of accounting. Branches of accounting. Basis of accounting: cash basis and accrual basis. Capital and revenue expenditures and receipts. Events occurring after the balance sheet date, Extraordinary Items, Prior Period Items, Accounting Estimate. Accounting Policies, Fair Value, Meaning, Recognition and Disclosure Requirements of Provision, Contingent Liability and Contingent Asset. (iii) Financial Accounting Principles: Meaning and need; Generally Accepted Accounting Principles(GAPP): Entity, Money Measurement, Going Concern, Cost, Revenue Recognition, Realization, Fundamental Accounting Assumptions, Accruals, Periodicity, Full Disclosure, Consistency, Materiality, and Prudence (Conservatism). Fundamental Accounting Assumptions as per AS 1. (iv) Accounting Standards: Concept, benefits, and Process of formulation of Accounting Standards including Ind AS (IFRS converged standards) and IFRSs; convergence vs adoption; Application of accounting standards (AS and Ind AS) on various entities in India. International Financial Accounting Standards (IFRS) –meaning, need, and scope. (B) Accounting Process From the recording of a business transaction to the preparation of trial balance including adjusting, transfer and closing entries. Application of Generally Accepted Accounting Principles in recording financial transactions and preparing financial statements and accounting treatment of GST.

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Unit 2: Business Income, Accounting for Property, Plant and Equipment, and Valuation of Inventory:
(a) Business income: Concept of Revenue and Business Income, Measurement of business income; relevance of accounting period, continuity doctrine and matching concept in the measurement of business income; Objectives of measurement of Business income. (b) Revenue recognition with reference to AS 9. (c) Accounting for Property, Plant, and Equipment with reference to AS 10. Impact of Depreciation on measurement of business income. Accounting for Intangible Assets with reference to AS 26. (d) Valuation of Inventory with reference to AS 2. Impact of inventory valuation on measurement of business income by using FIFO, LIFO, and Weighted Average Method.

Unit 3: Financial Statements of Sole Proprietorship and Not-for-Profit Organisations:
Preparation of Financial Statements of Sole Proprietorship and Not-for-Profit Organisations

Unit 4: Accounting for Inland Branches, Departments and Leases:
(a) Accounting for Inland Branches: Concept of Dependent branches; Branch Accounting as per- Debtors System, Stock and Debtors’ System (b) Accounting for Departments (excluding Mark-up Account) (c) Accounting for Leases with reference to AS 19

Unit 5: Computerized Accounting Systems:
Computerized Accounting Systems: Computerized Accounts by using any popular accounting software Creating a Company; Configure and Features settings; Creating Accounting Ledgers and Groups; Creating Stock Items and Groups; Vouchers Entry including GST; Generating Reports - Cash Book, Ledger Accounts, Trial Balance, Profit and Loss Account, Balance Sheet, Cash Flow Statement. Selecting and shutting a Company; Backup, and Restore data of a Company. Notes: (1) The relevant Accounting Standards (both AS Ind AS) for all of the above topics should be covered. (2) Any revision of the relevant Indian Accounting Standard/Accounting Standard would become applicable.

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