2nd Semester Accountancy IHM Notes For Hotel Management Students

2ND SEMESTER ACCOUNTANCY NOTES 

1. INTRODUCTION TO ACCOUNTANCY

A. MEANING AND DEFINITION

B. TYPES AND CLASSIFICATION

C. PRINCIPLE OF ACCOUNTING

D. SYSTEMS OF ACCOUNTING

E. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES ( GAAP )  

2. PRIMARY BOOKS (JOURNAL )

A. MEANING AND DEFINITION

B. FORMATS OF JOURNALS

C. RULES OF DEBITS AND CREDITS

D. OPENING ENTRY, SIMPLE AND COMPOUND ENTRIES

E. PRACTICALS  

3. SECONDARY BOOK ( LEDGER )

A. MEANING AND USES

B. FORMATS

C. POSTING

D. PRACTICALS

4. SUBSIDIARY BOOKS

A. NEED AND USE

B. CLASSIFICATION

     1. PURCHASE BOOK

     2. SALES BOOK

     3. PURCHASE RETURNS

     4. SALES RETURNS

     5. JOURNAL PROPER

     6. PRACTICALS

5. CASH BOOK

A. MEANING

B. ADVANTAGES

C. SIMPLE, DOUBLE AND THREE COLUMN

D. PETTY CASH BOOK WITH IMPREST SYSTEM ( SIMPLE AND TABULAR FORMS )

E. PRACTICALS 

6. BANK RECONCILIATION STATEMENT (BRS)

A. MEANING

B. REASONS FOR DIFFERENCE IN PASS BOOK AND CASH BOOK BALANCES

C. PREPARATION OF BANK RECONCILIATION STATEMENT

D. NO PRACTICALS

7. TRIAL BALANCE

A. MEANING

B. METHODS

C. ADVANTAGE

D. LIMITATIONS

E. PRACTICALS  

8. CAPITAL AND REVENUE EXPENDITURE

A. MEANING

B. DEFINITION OF CAPITAL AND REVENUE EXPENDITURE 

9. FINAL ACCOUNTS

A. MEANING

B. PROCEDURE FOR PREPARATION OF FINAL ACCOUNTS

C. DIFFERENCE BETWEEN TRADING ACCOUNTS, PROFIT & LOSS ACCOUNTS AND BALANCE SHEET

D. ADJUSTMENTS (ONLY FOUR)

     1. CLOSING STOCK

     2. PRE-PAID EXPENSES

     3. OUTSTANDING EXPENSES

     4. DEPRECIATION