Functions of Stock-exchange
Banks: Functions of a Bank, kinds of accounts and their operation; bank drafts, ATM, Debit card and credit card, post office, saving bank.
Negotiable Instruments-Bills of Exchange, promissory note hundies, cheques-nature, parties, crossing, negotiation, endorsement, dishonouring
(II) ELEMENTS OF BOOK-KEEPING AND ACCOUNTANCY
(CODE NO. 254)
One paper3 hours100 Marks 270 Periods
Objectives: The main objective of this paper is to enable the student to understand the fundamental principles and to develop skills of preparing and maintaining simple accounts books, and records from given details.
Introduction: Need for Book-Keeping, Objectives and advantages of Book-Keeping.
Basic concepts; Dual aspect of transactions and accounting equation, effect of transaction on Accounting equations, Business entity concept
Nature of Accounts and Rules for debit and credit; Classification of accounts, Rules for debit and credit, Preparation of vouchers and supporting documents.
Journal: Need for journal; Journal entries; Subsidiary books, Journal proper.
Ledger: Definition and importance; relation between journal and ledger. Meaning of posting, guiding rule for positing transactions, balancing of accounts
Recording and posting of cash transactions: Necessity of cash book-types of cash books, cash column, cash and bank column. Petty cash books and imprest system.
Trial balance: Purpose, methods and limitations