Course Outcome
- Remember/List accounting concepts, components of accounting cycle, methods of depreciation and inventory valuation, types of partnerships and key considerations in business purchase.
- Understand/Explain basic principles of accounting, double-entry accounting system, difference between depreciation methods, different inventory valuation methods and record system, treatment of partnership transactions and accounting treatment for business purchase transactions.
- Apply/Solve/Demonstrate preparation of final accounts for simple financial transactions, calculate depreciation and its disclosure in final accounts, use of inventory valuation methods to determine the cost of inventory, show piecemeal distribution of cash receipts on dissolution of partnership firm and prepare accounts of a company on business purchase.
- Analyse the impact of different depreciation methods on financial statements, the effect of inventory valuation methods on cost of inventory,
