A Guest Lecture was conducted for the students of TY B.Com (Accounting) on 25th March 2023 at 1.40 pm. The Resource Person for the session was CA Mitali Talwadkar, Proprietor, Mitali Talwadkar & Associates and she delivered a session on ‘Practical Aspects of Accounting’. The session began with the introduction of the Resource Person by Ms. Sanghavi Naik of TY B.Com-C. CA Talwadkar began the session by discussing about the interested parties in the accounts of the firm. She then explained the process of preparing the accounts up to finalization i.e., Preparation of Day Book, Preparation of General Ledger, Preparation of Trial Balance, Inventories Calculation, Depreciation Calculations, Provisional, Closing and Adjustment Entries, Ledger Scrutiny, Vouching of Documents and Closing the books of accounts, Preparation of Profit and Loss, Balance Sheet and Cash Flow and Calculation of Taxes.
The Resource Person then highlighted the difference in the Academic system and the Practical accounting system. Various cases were then discussed wherein the students gave their viewpoints as to how the issues can be dealt with. The Vote of Thanks was delivered by Ms. Fouzeen Muzawar of TY B.Com C. The faculty in charge of the session were Dr. Maithili Naik and Ms. Sheryl Sanches. 27 students attended the session.
