AFW-1 IGNOU Solved Assignment 2026-27

Course Scope & Syllabus Overview for AFW-1: Foundations of Accounting Principles (English/Hindi Medium, 2026-27 Academic Session)

AFW-1 introduces students to the fundamental principles and concepts of accounting within the IGNOU CBCS curriculum for Bachelor’s Degree Programmes. This course is meticulously designed to equip learners with a robust understanding of accounting theory, transaction recording, and financial statement preparation. By adhering to the structured IGNOU syllabus, students develop analytical skills to interpret financial data, ensuring compliance with accounting standards. The course emphasizes both theoretical knowledge and practical application, preparing students for real-world accounting challenges while aligning with the academic rigor of the IGNOU Degree Programme.

Key Syllabus Units & Topics

• Theory Base of Accounting: Explores the conceptual framework of accounting, including the accounting equation, qualitative characteristics of financial information, and the role of accounting in business decision-making.
• Accounting Process and Transaction Recording: Covers the accounting cycle, journal entries, ledger posting, and the preparation of trial balances, with a focus on systematic transaction documentation.
• Bank Reconciliation and Depreciation Accounting: Details the reconciliation of bank statements, calculation of depreciation under different methods (straight-line, diminishing balance), and their impact on financial statements.
• Final Accounts of Sole Proprietorship and Partnership Firms: Examines the preparation of trading, profit & loss accounts, and balance sheets for sole traders and partnerships, including adjustments for prepaid and outstanding expenses.
• Introduction to Cost Accounting: Introduces cost classification, cost sheets, and basic costing techniques, bridging accounting principles with operational efficiency analysis.

Frequently Asked Questions

Q: What is the word count requirement for Section A and Section B in the AFW-1 Tutor-Marked Assignment (TMA)?
A: Section A typically requires 500 words, while Section B demands a concise 250 words. Strict adherence to these limits ensures full credit compliance with IGNOU’s marking scheme for the 2026-27 session.

Q: How are marks distributed in the AFW-1 examination, and what is the pass percentage?
A: The examination carries 70% weightage, with assignments (TMA) accounting for 30%. A minimum pass mark of 40% is required in both components to qualify for the course, as per IGNOU’s grading policy for the current academic cycle.