Business and accounting Practices

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

This course will enable the students to –

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

Learning outcomes (COs):

Course

Learning outcomes

(at course level)

Learning and teaching strategies

Assessment

Strategies

Paper Code

Paper Title

JWT 501

 

 
Business & Accounting Practices

 

The students will be able to –

 

CO84: Explain the basic fundamentals of the business environment, organisational theory and marketing, including capacity to recognise and use relevant terminology.

CO85: Demonstrate progressive cognitive domain development of knowledge, comprehension, and application of rational economic decision making using: accounting discipline language, methods of classification, standards and computational procedures.

CO86: Recognize commonly used financial statements, their components and how information from business transactions flows into these statements.

CO87: Demonstrate progressive learning in the elements of managerial decision making, including planning, directing and controlling activities in a business environment.

Approach in teaching: Interactive Lectures, Discussion, Tutorials, Reading assignments, Demonstration, Team work

 

Learning activities for the students: Self-learning assignments, Effective , Effective questions, Seminar presentation, Giving tasks, Field practical

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects

 

 

 

9.00
Unit I: 
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

                                                                            

  • 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

                                                        

  • 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

                                                                      

  • 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

                                                                                               

  • 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: 

BOOKS RECOMMENDED:

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

 

References: 

 

 

 

 

 

 

 

 

Academic Year: 
2020-2021
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