Accounts of B.Com 1st Year

In the first year of B.Com (Bachelor of Commerce), students are introduced to various accounting principles and concepts. The accounts course provides a foundation for understanding financial transactions and recording them accurately. Here is an overview of the topics covered in the first year of B.Com accounts:

1. Introduction to Accounting:
- Definition and scope of accounting
- Objectives of accounting
- Accounting principles and concepts
- Accounting equation

2. Accounting Transactions:
- Types of accounting transactions
- Rules of debit and credit
- Journalizing transactions
- Ledger posting
- Trial balance

3. Financial Statements:
- Income statement (Trading and Profit & Loss account)
- Balance sheet
- Cash flow statement

4. Financial Analysis:
- Ratio analysis
- Liquidity ratios
- Solvency ratios
- Profitability ratios

5. Accounting for Partnership Firms:
- Nature and characteristics of partnership
- Partnership deed
- Final accounts of partnership firms
- Admission, retirement, and death of a partner

6. Accounting for Non-profit Organizations:
- Meaning and features of non-profit organizations
- Receipts and payments account
- Income and expenditure account

7. Accounting for Goods and Services Tax (GST):
- Concept and scope of GST
- GST registration and returns
- Input tax credit and GST payment

Company Law - Notes for B.Com

Company Law is an important subject in B.Com that deals with the legal aspects of corporate entities. The course provides an understanding of the formation, management, and dissolution of companies. Here are the key topics covered in Company Law for B.Com:

1. Introduction to Company Law:
- Definition and characteristics of a company
- Types of companies
- Incorporation and registration of a company

2. Memorandum of Association and Articles of Association:
- Contents and clauses of the Memorandum of Association
- Contents and clauses of the Articles of Association
- Alteration of Memorandum and Articles

3. Share Capital and Debentures:
- Types of share capital
- Issue and allotment of shares
- Share certificates
- Debentures and their types

4. Directors and Board Meetings:
- Appointment and removal of directors
- Powers and duties of directors
- Meetings of the Board of Directors

5. Company Meetings and Resolutions:
- Annual general meetings
- Extraordinary general meetings
- Types of resolutions
- Voting and proxies

6. Company Management and Administration:
- Company secretary
- Auditors and their appointment
- Dividends and their declaration

7. Winding up of Companies:
- Modes of winding up
- Voluntary winding up
- Liquidator and his/her powers

The above topics provide a basic understanding of accounts and company law for B.Com students. It is important to refer to the prescribed textbooks and study materials for detailed information and further clarification.