UNIT – 6 : FINANCIAL ACCOUNTING Introduction and Core Accounting Principles Introduction to Accounting: Meaning, Objectives, and Scope Accounting Concepts: Business Entity, Going Concern, etc. Accounting Conventions: Consistency, Conservatism, etc. Indian Accounting Standards: Overview and Importance Accounting Equation: Meaning and Application Double Entry System of Accounting Journal: Meaning, Format, and Entries Ledger: Posting and Balancing Accounts Cash Book: Types and Accounting Treatment Other Subsidiary Books: Purchases, Sales, Journal Proper, etc. Trial Balance, Errors, and Reconciliations Trial Balance: Purpose and Preparation Types of Accounting Errors: Errors of Omission, Commission, etc. Rectification of Errors: Before and After Trial Balance Bank Reconciliation Statement: Meaning and Steps Capital vs Revenue Expenditures: Classification and Examples Depreciation Accounting: Methods and Journal Entries Final Accounts and Adjustments Final Accounts of Sole Proprietors: Trading Account Final Accounts: Profit & Loss Account Final Accounts: Balance Sheet with Adjustments Adjustments in Final Accounts: Outstanding, Prepaid, Accrued, etc. Average Due Date: Concept and Calculation Account Current: Meaning and Methods Special Accounting Topics Bills of Exchange: Features and Journal Entries Accounts from Incomplete Records (Single Entry System) Accounts of Not-for-Profit Organisations: Receipts and Payments Account Income and Expenditure Account: Features and Differences Balance Sheet for Not-for-Profit Organisations Consignment Accounts: Concepts, Valuation, and Entries Joint Venture Accounts: Methods and Entries Difference Between Consignment and Joint Venture Partnership Accounts Partnership: Features and Partnership Deed Final Accounts of Partnership Firms Admission of Partner: New Ratio, Goodwill, Revaluation, etc. Revaluation Account: Format and Adjustments Retirement of Partner: Treatment of Goodwill and Revaluation Death of a Partner: Treatment and Settlement Gaining Ratio and Capital Adjustments Memorandum Revaluation Account Dissolution of Partnership Firms: Preparation of Realisation Account Settlement of Accounts on Dissolution (Insolvency and Non-insolvency Cases)