Financial Accounting Notes for B.Com (Part-I) / ADP / ADC / BS

Financial Accounting Notes for B.Com Part 1 / B.Com (Part-I) / B.Com (Hons) / ADP / ADC / BS (Accounting and Finance) / BBA / BS (Commerce) / BS (IT). Students of B.Com Part 1 / B.Com (Part-I) / B.Com (Hons) / ADP / ADC / BS (Accounting and Finance) / BBA / BS (Commerce) / BS (IT)  Level of any University recognized by Higher Education Commission (HEC), Islamabad belonging to any province i.e. Punjab, Sindh, KPK, Balochistan and Azad Kashmir and can get benefit from these notes. By studying our notes, we can guarantee you for getting maximum marks in your exams.

Accounting Notes for B.Com Part-I / ADP / ADC / BBA / BS (Commerce, Accounting, IT and Finance)

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Chapter Wise Important Short and Numerical Questions for Annual and Supplementary Exams

• Chapter Wise Important Short and Numerical Questions

Past / Old Annual and Supplementary Questions Papers of Punjab University

Annual 

1. 2014
2. 2015
3. 2016
4. 2017
5. 2018
6. 2019
7. 2020
8. 2021
9. 2022

Supplementary 

1. 2014
2. 2015 
3. 2016
4. 2017
5. 2018
6. 2019
7. 2020

Past / Old  Questions Papers Allama Iqbal Open University (AIOU) Financial Accounting (1413)

• Financial Accounting (1413) Spring 2023 for ADC and B.Com

Chapter Wise Solved Multiple Choice Questions (MCQs) of Financial Accounting

1. Chapter # 01 – Introduction of Accounting
2. Chapter # 02 – Transactions and Accounting Equation
3. Chapter # o3 – Analysis of Business Transactions and Double Entry System
4. Chapter # 04 – Journal : The Book of Original Entry 
5. Chapter # 05 – Ledger : The Main Book of Accounts
6. Chapter # 06 – Bills of Exchange 
7. Chapter # 07 – Special Journal
8. Chapter # 08 – Cash Book
9. Chapter # 09 – Bank Reconciliation Statement 
10. Chapter # 10 – Final Account: The Completion of Accounting Cycle
11. Chapter # 11 – Adjustments and Their Effect on Final Account
12. Chapter # 14 – Capital and Revenue
13. Chapter # 15 – Rectification of Errors 
14. Chapter # 16 – Accounts form Incomplete Record
    • Increase Net Worth Method MCQ’s
    • Increase Net Worth Method Numerical MCQ’s
    • Conversion Method MCQ’s
    • Conversion Method Numerical MCQ’s
15. Depreciation, Provisions and Reserves
    • Text / Statement MCQ’s 
    • Numerical MCQ’s
16. Chapter # 17 – Non – Profit Making Organization 
17. Chapter # 18 – Consignment Account 
18. Chapter # 20 – Partnership Accounts
    • Profit Distribution 
    • Admission of Partner
      1. Statement MCQ’s
      2. Sacrificing and New Profit Sharing Ratio MCQ’s
    • Retirement of A Partner 
      1. Statement MCQ’s
      2. Gaining and New Profit Sharing Ratio MCQ’s
    • Death of A Partner 
      1. Statement MCQ’s
    • Dissolution of Partnership
      1. Statement MCQ’s

Guess Paper of Financial Accounting Annual Exam HEC Recognize Universities

Guess Paper of Financial Accounting Annual Exam for Punjab and Gujrat University

• Guess Paper of Financial Accounting Annual Exam 2021 for Punjab University
• Guess Paper of Financial Accounting Annual Exam 2021 for Gujrat University

Solution of  Financial Accounting for B.com by Muhammad Arif  and Sohail Afzal

• Chapter # 02 – Transaction and Accounting Equation
• Chapter # 03 – Analysis of Business Transaction and Double Entry System
• Chapter # 04 – Journal: The Book of Original Entry
• Chapter # 05 – Ledger: The Main Book of Accounts
• Chapter # 06 – Accounting For Bills of Exchange 
• Chapter # 07 – Special Journals 
• Chapter # 08 – Cash Book
• Chapter # 08 – Bank Reconciliation Statement
• Chapter # 10 – Final Accounts: The Completion of Accounting Cycle 
• Chapter # 11 – Adjustments and Their Effect on Final Accounts
• Chapter # 12 – Work Sheet 
• Chapter # 13 – Financial Statements 
• Chapter # 15 – Rectifying  of Errors 
• Chapter # 16 – Accounts from Incomplete Records 
• Chapter # 17 – Accounts of Non Profit Making Organizations
• Chapter # 18 – Partnership Account ( Distribution of Profits or loss )
• Chapter # 18 – Partnership Account ( Admission of Partner )
• Chapter # 18 – Partnership Account ( Retirement of Partner )
• Chapter # 18 – Partnership Account ( Death of Partner)
• Chapter # 18 – Partnership Account ( Dissolution of Partnership)
• Chapter # 19 – Depreciation Provisions and Reserves

Solution Of Financial / Principles of  Accounting by M.A. Ghani

1. Solution of Chapter # 02 – Accounting Principles and Accounting Equation
2. Solution of Chapter # 03 – Nature of Accounts and Rules of Debit and Credit
3. Solution of Chapter # 04 – Journal
4. Solution of Chapter # 05 – Ledger
5. Solution of Chapter # 06 – Banking Transactions
6. Solution of Chapter # 07 – Bills of Exchange
7. Solution of Chapter # 08 – Subdivision of Journal (I) -Cash Book and Bank Reconciliation Statement
8. Solution of Chapter # 09 – Subdivision of Journal (II) – Other Subsidiary Books
9. Solution of Chapter # 10 – Final Accounts
10. Solution of Chapter # 11 – Adjustments at Balancing Time
11. Solution of Chapter # 12 – Provision For Bad Debts and Discounts
12. Solution of Chapter # 13 – Work Sheet
13. Solution of Chapter # 14 – Capital and Revenue
14. Solution of Chapter # 15 – Rectification of Errors
15. Solution of Chapter # 16 – Problems in Final Accounts
16. Solution of Chapter # 17 – Account Current and Average Due Date
17. Solution of Chapter # 18 – Self-Balancing Ledgers
18. Solution of Chapter # 19 – Accounts of Non-Trading Concerns
19. Solution of Chapter # 20 – Accounts From Incomplete Records
20. Solution of Chapter # 21 – Consignment Accounts
21. Solution of Chapter # 22 – Joint Ventures
22. Solution of Chapter # 23 – Partnership Accounts
23. Solution of Chapter # 24 – Company Accounts
24. Solution of Chapter # 25 – Depreciation
25. Solution of Chapter # 26 – Provisions, Reserves and Sinking Funds

Chapter Wise Notes of Financial Accounting

 Final Account

1. Definition and Introduction of Final Account
2. Trading Account Definition, Objective and Importance
3. Trading Account Items with Brief Explanation
4. Format of Trading Account
5. Journal Entries of Trading Account
6. Profit and Loss Account Definition, Features and Objective
7. Journal Entries of Profit and Loss Account
8. Format of Profit and Loss Account
9. Format of Balance Sheet
   1. • Spontaneous Assets 
      • Spontaneous Liabilities 
      • Quasi – Spontaneous Assets 

Depreciation 

1. Modified Accelerated Cost Recovery System (MACRS) 200% Half Year Convention Rate Table
2. MACRS Switch to Straight Line Method 
3. Declining Balance Method Switch to Straight Line Method 
4. Which Depreciation Method Best to Use
5. Why Residual Value Ignore in Diminishing Value Method