Accountancy

Accountancy develops financial literacy and problem-solving skills essential for managing, analyzing, and interpreting financial information. It prepares students to handle real-world challenges in business, finance, and auditing with precision and professionalism.

Overview

Accountancy focuses on recording, summarizing, and reporting financial transactions. At Presidency PU College, students explore topics like journal entries, ledger maintenance, trial balances, final accounts, and company accounts.
In class, you might prepare a balance sheet for a hypothetical company or analyze financial statements to assess profitability and liquidity. Practical exercises, case studies, and hands-on accounting software training enhance learning.

Career Opportunities

Accountancy lays the foundation for careers in chartered accountancy, cost accountancy, financial management, auditing, and taxation. It is a crucial subject for pursuing professional qualifications like CA, CMA, CPA, and ACCA. Alumni have excelled in roles as financial analysts, tax consultants, and CFOs in renowned organizations.

Learning Outcomes

Understand and apply accounting principles to prepare and interpret financial statements.
Develop analytical skills for auditing, financial analysis, and decision-making.
Gain proficiency in managing accounts and ensuring compliance with financial regulations.
Build a strong foundation for advanced studies in accountancy, finance, and business.

Syllabus Overview

Semester 1
Focus Areas: Fundamentals of Accountancy
Introduction to Accounting Principles and Concepts Recording Financial Transactions: Journals and Ledgers Preparation of Trial Balance and Cash Books Bank Reconciliation Statements
Key Takeaways: Gain a foundational understanding of accounting principles, enabling accurate recording and organization of financial transactions.

Semester 2
Focus Areas: Financial Statements and Adjustments
Preparation of Final Accounts: Trading, Profit & Loss Account, and Balance Sheet Depreciation Accounting: Methods and Applications Rectification of Errors in Financial Statements Accounting for Non-Profit Organizations
Key Takeaways: Learn to prepare, adjust, and analyze financial statements to ensure compliance and accuracy in financial reporting.

Semester 3
Focus Areas: Partnership Accounts
Fundamentals of Partnership: Deed, Capital Accounts, and Profit Sharing Admission, Retirement, and Death of Partners Dissolution of Partnerships: Settlements and Accounts Accounting for Joint Ventures
Key Takeaways: Understand the intricacies of partnership accounting, including changes in partnership dynamics and closure procedures.

Semester 4
Focus Areas: Company Accounts and Cost Accounting
Accounting for Share Capital and Debentures Analysis of Financial Statements: Ratios and Performance Metrics Cost Accounting: Elements of Cost and Cost Sheets Overview of Accounting Standards and Their Importance
Key Takeaways: Develop expertise in corporate and cost accounting, preparing students for advanced financial management and reporting in business contexts.