Business Accounting


Dr. Pramod Kumar Patjoshi


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Course Name : Business Accounting



Code(Credit) : CUTM1213(4-0-2)

Course Objectives

  • To familiarise with the basic conceptual framework of Financial Accounting i.e., from the recording of transactions for Understanding and Interpreting of Financial Statements.
  • To provide the knowledge to the students about financial statements and principles underlying them and to develop their skills in reading Annual Reports.
  • To provide a thorough understanding and techniques of financial statements analysis.

Course Outcomes

Develop an awareness and understanding of the accounting process and fundamental accounting principles that underpin the development of financial statements.

Able to record the business transactions in a journal and ledger for the preparation of trial balance and financial statements.

Understand and Read the corporate financial statements with other information to assess the financial performance and position of a company.

Interpret and analyze the financial statements by using the techniques of financial statement analysis for managerial decision-making;

Apply the various methods of depreciation and inventory valution to analyze specific business issues.

Course Syllabus

Course Syllabus

Module: I

Accounting, meaning, definition, objectives, scope, basic, terms, accounting principles, branches of accounting, uses & limitations of Accounting, Concepts & Conventions, Accountings uses, Accounting information, Accounting equations – Meaning of accounting equation, compensation of accounting, effects of transactions.



Module: II

Basic Accounting Procedure – Journal, rules of debit & credit, method of journalizing, advantage, double entry system – its advantage, ledger, meaning, utility, posting entries. Practical system of book keeping – Cashbook, types of cash book, Single column, double column, entries, Trial Balance, Objective, preparation, errors & rectification, Suspense Accounting – meaning, utility & preparation.


Depreciation: meaning, causes, factors affecting depreciation, methods of charging depreciation, straight line and written - down methods.



Module: III

Preparation of Financial Statements: Preparation of trading account, profit & loss account and balance sheet for a sole proprietor, understanding financial statements of a joint stock company, activities of cash flow statement, understanding the contents of a corporate annual report,


Module: IV

Analyzing Financial Statements: Objectives of financial statement analysis; sources of information; standards of comparison; techniques of financial statement analysis - horizontal analysis, vertical analysis, and ratio analysis. Meaning and usefulness of financial ratios; analysis of financial ratios from the perspective of different stakeholders like investors, lenders, and short-term creditors; profitability ratios, solvency ratios, liquidity ratios, and turnover ratios; limitations of ratio analysis.


Project Details:

  • Project on Preparation of Financial Statement of a Small Business.
  • Project on Financial Statements of a company - From Annual Report like TCS, TVS Motor, Tata Steel, RIL, etc.
  • Project on study of Financial Statement Analysis through excel of different Companies like TCS, TVS Motor, Tata Steel, RIL, etc.
  • Project on Analysis of Budgetary Control Small Business

Text Books:

  • N. Maheshwari, Suneel K. Maheshwari, and Sharad K. Maheshwari: An
  • Narayanaswamy, Financial Accounting: A Managerial Perspective, PHI


  • Indian Accounting Review
  • Indian Journal of Accounting

Links to websites:

Session Plan

Session 1

Discussion of Course Contents and Session Plan

Session 3

Links of accounting with every aspect of the business - Accounting with Management, Economics, IT, Statistics, HR, Marketing and Production , Cash-based vs Accrual based accounting.


Session 5, 6

Assignment for the students to list out 30 Assets, 15 Liabilities, 50 Expenses & Losses, and 15 Income & Gain.

Students' Presentation

Session 7

Accounting as an Information System, Users of Accounting information (specifically the difference in financial information required by the Board, CXO levels, field-level staff, stock exchanges, auditors and regulators, etc.

Session 10

Project on Preparation of Chart of Account of Different Companies

Students' Presentation

Session 12

Project prepare balance sheet with account equation

Students' Assignment on Preparation of Balance Sheet with the help of Accounting Equation.

Practice questions:

Session 17, 18

Assignment for the Students to find out the various pieces of information required to different users of Accounting.

Students' Presentation

Session 20

Introduction to International Financial Reporting Standards (IFRS). Understanding Accounting Standards issued by the ICAI related to Disclosure of Accounting Policies.

Session 21, 22, 23

Depreciation: Meaning Causes, Factors affecting depreciation, Methods of providing depreciation, Straight Line Method & Diminishing Balance Method

Depreciation Account, Revenue Recognition


Session 28

Profit & Loss Accounts items- Revenue, Expenses, Operating and Non-operating, Profit/Gain, EBDITA, EBDIT, DBIT, EBT, EAT, etc.

Session 31

Preparation of Trading Account, Profit & Loss Account, Balance Sheet with Practice Problems

PPT on Profit & Loss account:

Students' Presentation

Session 32, 33

Field studies for collecting the data for preparation of Financial Statement

Students' Presentation

Session 34

Preparation of Trading Account, 6 Profit & Loss Account, Balance Sheet in Excel

Session 35, 36

Preparation of Financial Statements: Preparing Trading Account, Profit & Loss Account and Balance Sheet with Adjustment

Students' Presentation


Session 39, 40

Session 41, 42

Project Financial Statements of a company

Session 43, 44

Content of Annual Report

Workshop on Case Study of Tata Steel Annual Report

Students' Presentation

Session 45, 46

Project on Financial Statements of a company - From Annual Report like TCS, TVS Motor, Tata Steel, RIL, etc.

Students' Presentation

Session 47

Overview of Financial Statements Analysis, Business Analysis ,Types of Business Analysis, Components of Business Analysis

Session 48

Project on Business Analysis- From Annual Report like TCS, TVS Motor, Tata Steel, RIL, etc.

Students' Presentation

Session 49

Analysis of Financial Statements Meaning Significance Objectives Advantages

Session 51, 52

Project on Analysis of Financial Statements

Students' Presentation

Session 53

Comparative Finance Statements Analysis

Students will prepare the comparative financial statement data in excel 16

Session 54

Common Size Financial Statement Analysis

Students will prepare the common size financial statement data in excel

Session 55

Trend Analysis

Students will prepare the trend analysis financial statement data in excel

Session 56, 57

Project on Analysis of Financial Statements

Students' Presentation

Session 59

Liquidity Ratios and Efficiency Ratios

Students will find out the Liquidity Ratios and Efficiency Ratios  in excel

Session 60

Leverage Ratios and Coverage Ratio

Students will find out the Leverage Ratios and Coverage Ratio  in excel

Session 61, 62

Profitability Ratios

Students will find out the Profitability Ratios  in excel

Session 63, 64, 65

Project on Analysis of Financial Statements

Students' Presentation

Case Studies

Case Studies

Our Main Teachers

Working as an Associate Professor (Finance) in the School of Management, Centurion University, and Management, Bhubaneswar. Completed MBA from Kanchipuram University in 1998 with specialization in Finance and done Ph.D. entitled “The Impact of Inflation on Business Performance under Conditions of Limited Financial Disclosure: Case of Firms Operating in India”. Have 15 years of teaching […]

Dr. Prakash Chandra Swain M.COM,  M.PHIL, PhD (Ravenshaw University) Assistant Professor (Accounting & Finance) , B.COM Coordinator, School of Management, Centurion University of Technology and Management, Jatni, Khurda, Odisha, India, PIN-752050, Bhubaneswar Campus