Meaning and objects of accounting, Accounting Cycle, Accounting concepts and conventions, accounting equations, rules of journalizing, ledger posting.

Cash book, preparation of trial balance, trading and profit and loss account and balance sheet with adjustments relating to closing stock, outstanding expenses, prepaid expenses, Accrued income depreciation, Bad debts, provision for bad debts, provision for discount on debtors and creditors.

Basic concepts of cost accounting, elements of cost, classification of cost, preparation of cost sheet, inventory pricing, numerical through FIFO and LIFO methods.

Cost volume, profit analysis, standard costing computation of material and labor variances.

Budgetary control, preparation of cash budget and flexible budget, Zero base budgeting.