Course Description : Introduction to financial accounting: concept, objectives, and accounting principles. The accounting process: double-entry book-keeping, accounting equation, accounting cycle, rules of debit and credit, journalizing the transactions, posting and closing the ledgers, a subdivision of journals, cash and banking transactions, bank reconciliation, preparation of trial balance, and adjustment entries. Accounting for receivables: concept, types of account receivables, financial statement presentation of receivables, managing receivables. Accounting for long-lived assets: types, determining the cost of the plant, accounting for the plant, analyzing plant assets. Intangible assets: accounting for intangible assets, types, and financial statement presentation of long-lived assets. Reserve and provisions: concept, types, capital profit, and revenue profit. Financial statement and closing entries: preparation of income and retained earnings statements, closing entries, preparation of balance sheet with adjustments, and cash flow statement.

Course Objective : This module aims to familiarize students with the function and process of financial reporting systems from a user and system designer perspective.

Course Contents:

Text Books:

• Madhav R. Koirala, and et al. Principles of Accounting - I, Buddha Academic Enterprises Pvt. Ltd., Kathmandu.

Reference Books:

• Paul D. Kimmel, Jerry J. Weygandt, and Donald E. Kieso., Financial Accounting, John Wiley & Sons, INC; New York.
• Ramesh Pandey, et al., Principles of Accounting Part 1, Bhundhipuran Prakashan, Kathmandu.
• Ratna M. Dangol et al., A Basic Course In Accountancy I, Talaju Prakashan, Kathmandu.
• R. Narayanaswamy., Financial Accounting, A Managerial Perspective, Prentice Hall of India Private Limited, New Delhi.
• Robert L. Dansby, Burton S. Kaliski and Michael D. Lawrence, College Accountancy, A.I.T.B.S. Publishers & Distributors, Delhi.
• Shiva P. Munankarmi, Principles of Accounting, Educational Publishing House, Kathmandu.