ECO – 02 ACCOUNTANCY (BCA) Important Question
- Define accountancy and explain the advantages and objectives of accounting.
- What do you understand by the Cost concept and dual Aspect concept?
- What are a double-entry system and a single-entry system?
- what is trail balance? how it’s prepared ? Prepare a ledge and balance the accounts, Illustration No.3
- What is cash books? And state its type? Prepare three Column Cash books and post them into ledge.
- What are a Bank Reconciliation Statement and the advantages of a Bank Reconciliation Statement?
Prepare the bank reconciliation statement.
- Write the short note on the Bill of exchange and promissory note.
- Prepares a Trading Profit and Loss account. And make a
- Provision for discount on debtor and creditors?
- Rectification in error?
- Suspense account and rectification?
- The distinction between capital and revenue?
- Distinction between sale and consignment?
Books of consignors. Illustration No3
- What is joint venture and partnership?
Prepare a joint venture account. Illustration no 1
- What is a self-balancing system? State its advantages What is sectional balancing?
- What is the disadvantage of a single-entry system?
- Receipts and Payment accounts? Income and Expenditure Account Illustration no 5
- What is depreciation?
The method of depreciation
Prepare machinery accounts for 3years
- The distinction between Provision and reserve?
Basic information And questions
- Accounting Concepts and Principles: Understand the basic accounting principles, concepts, and conventions such as entity concept, money measurement concept, dual aspect concept, accrual concept, going concern concept, etc.
- Accounting Equation and Journal Entries: Learn about the accounting equation (Assets = Liabilities + Owner’s Equity) and how to record transactions using journal entries.
- Ledger and Trial Balance: Understand the purpose of a ledger, how to post journal entries to the ledger accounts, and how to prepare a trial balance.
- Subsidiary Books: Learn about different subsidiary books such as cash book, purchases book, sales book, journal proper, and their significance in recording specific types of transactions.
- Bank Reconciliation: Understand the process of reconciling bank statements with the cash book, identifying discrepancies, and making necessary adjustments.
- Depreciation and Provisions: Learn about the concepts of depreciation, its methods (straight-line, reducing balance, etc.), and the accounting treatment of provisions.
- Financial Statements: Understand the preparation of financial statements, including the income statement (trading and profit and loss account), balance sheet, and cash flow statement.
- Partnership Accounts: Learn about the fundamentals of partnership accounting, including the preparation of the partnership’s final accounts, distribution of profits and losses, admission and retirement of partners, and calculation of goodwill.
- Accounting for Non-profit Organizations: Understand the accounting principles and methods applicable to non-profit organizations, including preparation of income and expenditure account and balance sheet.
- Introduction to Company Accounts: Get an overview of the fundamentals of company accounts, including the types of shares, issue of shares and debentures, and preparation of the company’s final accounts