Business & Accounting Practices

Paper Code: 
JWT 501
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

Objective:

  1. To provide an understanding of the principles of accountancy, basic banking and their application in business.

 

9.00
Unit I: 
Nature and Purpose of Business

Nature and Purpose of Business                                                                           

  • Concept and characteristics of business.
  • Objects of Business-Economic and Social
  • Business Risk-meaning, nature and causes.

 

9.00
Unit II: 
Forms of Business Enterprises

: Forms of Business Enterprises                                                                              

  • Meaning, features, merits and limitations of the following forms of Business-
  • Sole Proprietorship
  • Partnership Firm
  • Company (Private and Public)

 

9.00
Unit III: 
Basic Accounting Concepts

: Basic Accounting Concepts                                                                                    

  • Objects, importance and principles of Book-keeping.
  • Book-keeping: A working practical knowledge.
  • Classification of Accounts and their Balances.

 

 

9.00
Unit IV: 
Practical accounting

                 Practical accounting                                                                                             

  • Posting to Ledgers and Balance of Ledgers
  • Writing of Subsidiary Books-Purchase Book, Purchase Return Book, Sales                                                                           Book Sales Return Book and Journal.
  • An introductory knowledge of Trading Account, Profit &Loss Account and Balance Sheet.

           

 

9.00
Unit V: 
Basic Banking

: Basic Banking                                                                                                         

  • Bank- Definition and Functions
  • Some major credit instruments; Bills of Exchange, Promissory note, Cheque- types & Crossing Demand Draft. A brief study of RBI and NABARD

 

 

Essential Readings: 
  1. Agtarap-San Juan, D. (2007). Fundamentals of Accounting: Basic Accounting Principles Simplified for Accounting Students. AuthorHouse.
  2. Tulsian, P. C. (2008). Business Studies. S. Chand Publishing.
  3. Jain, D.c., Khandelwal, M.c. & Pareek G. Fundamentals of Accountancy.  Ajmera Book Company
  4. Sutherland, J., & Canwell, D. (2008). Essential business studies a Level: As student book for AQA. Folens Limited.

 

 

References: 
  1. Davar S.R., Banking Law & Practice, Vikas Publishing House, Delhi
  2.  Shrivastava P.K.,Banking Law & Practice, Himalaya Publishing House, Bombay
  3. Brief, R. P. (Ed.). (2013). Four Classics on the Theory of Double-Entry Bookkeeping (RLE Accounting). Routledge.

 

 

Academic Year: 
2019-20
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