This course is designed to master the two important chapters of Financial Accounting.

Detailed contents are as follows:

1. Bills of exchange 

Meaning of bill of exchange 

Promissory note

Maturity of bill : The date on which a bill of exchange or a promissory note becomes due for payment + days of grace

Discounting of bill : Encashment of the bill before the maturity date in a bank. 

Endorsement of bill: The act of signing and transferring the bill to another party

Dishonour of bill: Drawer fails to make the payment on the date of maturity of the bill or promissory note 

Renewal of bill: Process of cancellation of old bill and writing a fresh bill with new terms of payment

Retiring of bill: Drawee settles the due well before the maturity date and bill is cancelled

Bills receivables and bills payables books

Accommodation bills: Bills drawn and accepted by parties to facilitate short term finance. 

2. Depreciation 

Meaning of depreciation 

Depreciation and other similar terms

Causes of depreciation 

Need for depreciation 

Factors affecting the amount of depreciation 

Methods of calculating depreciation amount 

Methods of recording depreciation 

Disposal of assets 

Effect of any addition or extension to the existing asset