Introduction - Meaning - Definition - Operating cycles - Flow of costs - Perpetual and periodic inventory systems - Advantages of perpetual system - Difference between service enterprise and merchandising company - Simple problems.
Freight cost - Purchase returns and allowances - Purchase discounts - Summary of purchasing transactions - Simple problems.
Sales - Sales returns and allowances - Sales discounts - Simple problems
Adjusting entries - Closing entries - Summary of merchandising entries - Simple problems.
Meaning of income statement - Multiple - step income statement - Single - step income statement - Classified balance sheet - Simple problems
Reference Book:
1. Jay Heizer Barry Render “Operations Management Hardcover – Import”, 2013
Text Book:
1. Gregory R. Mostyn, “Basic Accounting Concepts, Principles and Procedures”, Vol. 1 Paperback– 1 November 2007, ,Worthy and James Publishing (Editor) ISBN – 13: 978-0979149481 2. The Accounting Cycle: A Debit and Credit Approach (The Quick Notes Learning System) Paperback – Import, 1 November 1998 ISBN-13 : 978-0963277282
