Course Description
This course follows the NCTB syllabus for SSC Accounting. It develops bookkeeping accuracy and financial statement preparation skills for small/sole-trader entities. Core areas include the accounting concepts and equation, double-entry system, source documents and vouchers, journals and ledgers, cash book and petty cash, trial balance and error rectification, bank reconciliation, adjustments (accruals, prepayments, depreciation, provisions and bad debts), and preparation of the income statement and balance sheet with simple notes. Students practice structured problem-solving, clear workings and neat presentation aligned with SSC marking criteria.
Course Content
Chapter 1: Introduction to Accounting
- Definition and Concept of Accounting
- Objectives and Importance of Accounting
- Scope and Limitations of Accounting
- Branches of Accounting
- Users of Accounting Information
- Role of Accounting in Business and Economy
Chapter 2: Basic Accounting Principles and Concepts
- Accounting Principles and Standards
- Generally Accepted Accounting Principles (GAAP)
- Accounting Concepts and Conventions
- Double-Entry System of Accounting
- Basic Accounting Equation
Chapter 3: Source Documents and Books of Original Entry
- Source Documents – Invoice, Voucher, Receipt
- Books of Original Entry – Journal
- Rules of Debit and Credit
- Compound and Adjusting Entries
- Ledger and Posting from Journal
Chapter 4: Cash Book and Petty Cash Book
- Concept and Importance of Cash Book
- Single Column, Double Column, and Triple Column Cash Books
- Petty Cash Book and Imprest System
- Balancing and Posting of Cash Book
Chapter 5: Trial Balance
- Meaning and Purpose of Trial Balance
- Preparation of Trial Balance
- Errors Disclosed and Not Disclosed by Trial Balance
- Difference in Trial Balance and Its Rectification
Chapter 6: Financial Statements
- Meaning and Importance of Financial Statements
- Trading Account, Profit & Loss Account
- Balance Sheet – Structure and Preparation
- Adjustment Entries before Final Accounts
- Interpretation of Financial Statements
Chapter 7: Depreciation
- Concept and Causes of Depreciation
- Methods of Depreciation (Straight Line and Reducing Balance)
- Accounting Treatment for Depreciation
- Effect of Depreciation on Assets and Profit
Chapter 8: Accounting for Receivables and Payables
- Bills Receivable and Bills Payable
- Promissory Notes and Endorsements
- Dishonor of Bills
- Accounting Entries for Bills of Exchange
Chapter 9: Capital and Revenue
- Difference between Capital and Revenue Expenditure
- Difference between Capital and Revenue Receipts
- Treatment of Deferred Revenue Expenditure
- Importance in Financial Statements
Chapter 10: Correction of Errors and Suspense Account
- Classification of Accounting Errors
- Rectification of Errors
- Suspense Account – Meaning and Use
- Impact on Trial Balance and Final Accounts
Chapter 11: Accounting for Non-Trading Organizations
- Concept and Characteristics of Non-Trading Concerns
- Receipts and Payments Account
- Income and Expenditure Account
- Balance Sheet for Non-Trading Organizations
Chapter 12: Partnership Accounting (Introductory)
- Meaning and Features of Partnership
- Partnership Deed and Its Importance
- Capital and Current Accounts of Partners
- Distribution of Profit and Loss among Partners
Learning Objectives
Conceptual Accuracy — Explain the accounting equation, concepts and the purpose of financial statements for small entities.
Recording Skills — Prepare journals, ledgers, cash books and petty cash records accurately and post them correctly.
Balancing & Reconciliation — Draw up trial balances; prepare bank reconciliation statements; identify and rectify common errors.
Adjustments & Statements — Apply accruals/prepayments, depreciation and provisions to produce income statements and balance sheets with workings.
Control & Ethics — Describe the purpose of control accounts (intro) and demonstrate ethical, responsible bookkeeping practices.
Exam Preparedness — Show clear workings, apply standard formats, manage time and avoid common mistakes to achieve high marks in SSC Accounting.
