Application Software - Accounting
Year / Semester: 
4th Semester

To understand Preparation of financial statements, i.e Balance Sheet, Trading and Profit & Loss Account and study of accounting software i.e. tally.


Preparation of financial statements, i.e Balance Sheet, Trading and Profit & Loss Account

Vertical, Horizontal, comparative & other formats of financial statements, understanding of contents of balance sheet items like capital, secured loans, fixed assets, current assets & loans & advances etc .Financial statements are the ultimate outcome of accounting process which reflect the position of any entity.

Depreciation as per Income Tax Rates & Calculation

Classification of assets into various blocks (as per income tax rates), calculation of depreciation & format of depreciation chart. While filing Income Tax Return depreciation is to be taken on basis of Income Tax Act only.

Maintenance of Stock Register

Theoretical & practical knowledge on stock register like uses, contents, requirements & method of maintaining stock register. Proper maintenance of stock register facilitates physical verification of assets and any loss of assets can be easily detected

Use of Accounting Software (Tally)

To save time, avoid redundancy of records & timely preparation of reports. Understanding of installation, controls, use, applications, considerations, cautions, updations etc of widely used softwares like tally & others. Case Studies

Suggested Readings: 
  1. Building Accounting Systems Using Access 2007 by James T. Perry and Richard Newmark.
  2. Microsoft Office Accounting Express 2007 Starter Kit by Pamela Pierce
  3. WILEY Interpretation and Application of International Financial Reporting Standards 2010 by Barry J. Epstein and Eva K. Jermakowicz.
  4. Microsoft Office Accounting Professional 2007 Step by Step by Curtis Frye.
  5. The Technology Guide to Accounting Software: A Handbook for Evaluating Vendor Applications by Stewart McKie.
  6. Computer Accounting Applications Using Microsoft Excel With a Mouse: A Workbook to Be Used With Financial/Managerial or Accounting Principles Course by Roger A. Gee.