Financial Accounting: Nature, Scope and importance of Financial Accounting, GAAP,

Limitations of Accounting, Accounting Principles, Double Entry System, Journals, Ledger,

Rectification of Errors, Bank Reconciliation Statement. Purchase Book, Sales Book, Cash

Book, Three column Cash Book, Trial Balance, Posting of Entries in Accounts Books. Capital

and Revenue: Classification of Income: Classification of expenditure: Classification of

receipts.

Concept of Contract, Offer and Acceptance; valid contracts and its essential elements; void

agreements; classification of contracts; Quasi contract; performance of contract; discharge

of contract; remedies for breach of contract. Special Contracts: Indemnity, Guarantee,

Bailment, Pledge, and agency.