Basic Accounting
Subject Overview
Basic Accounting is BBA's foundation paper in financial accountancy — the BBA equivalent of B.Com's Financial Accounting, built for management students who need to read and prepare financial statements rather than specialise in accounting itself. It starts with core accounting concepts, conventions, and the regulatory framework of Accounting Standards in India, then moves through the accounting equation, journal and ledger entries, and trial balance preparation. The second half covers Bank Reconciliation Statements and depreciation (WDV and SLM methods) before building up to final accounts — trading, profit & loss, and balance sheet preparation for a sole proprietorship — and an introduction to company final accounts under the Companies Act. The paper closes with a practical look at computerised accounting and accounting software. This is a 6-credit core paper across 4 units, and it's the foundation for Cost & Management Accounting and Corporate Accounting later in the BBA program.
Unit-wise Syllabus
4 units — click WhatsApp below to get the full notes for each
Unit 1: Introduction to accounting & accounting standards
Meaning, objectives and scope of financial accounting, concept of book-keeping, basic accounting terms, users and limitations of accounting information, accounting concepts and conventions, Accounting Standards in India
Unit 2: The accounting equation & recording transactions
Accounting equation, types and nature of accounts, rules of debit and credit, recording transactions in the journal, preparation of ledger accounts and subsidiary books, preparation of trial balance
Unit 3: Bank reconciliation, depreciation & final accounts
Bank Reconciliation Statement, meaning and importance of depreciation, WDV and SLM methods, preparation of trading and profit & loss account and balance sheet for a sole proprietorship
Unit 4: Company final accounts & computerised accounting
Provisions of the Companies Act on preparation of company final accounts, understanding a company's annual report, computers in accounting, accounting software packages