ECO-02 IGNOU Solved Assignment 2026-27

Course Scope & Syllabus Overview for ECO-02: Accountancy-I

ECO-02: Accountancy-I is a foundational course in the Bachelor’s in Commerce (B.Com) curriculum under IGNOU’s School of Management Studies, designed to equip students with core principles of financial accounting. This course bridges theoretical knowledge with practical application, emphasizing the systematic recording, summarizing, and interpreting of financial transactions. It aligns with the IGNOU CBCS framework to ensure students develop proficiency in preparing financial statements, understanding accounting concepts, and applying them in real-world business scenarios. The structured approach ensures clarity in complex topics like journal entries, ledger posting, and trial balances, while also preparing students for the TMA component, which carries significant weight in the final evaluation.

Key Syllabus Units & Topics

• Block-1: Accounting Fundamentals: Covers the basic accounting equation, dual aspect concept, and the accounting cycle, including journal entries, ledger posting, and trial balance preparation—essential for understanding transaction processing.
• Block-2: Final Accounts: Focuses on preparing trading and profit & loss accounts, balance sheets, and adjustments for prepaid expenses, outstanding expenses, and depreciation—critical for financial statement analysis.
• Block-3: Consignment and Joint Ventures: Explores accounting for consignment transactions, including consignment accounts, consignor’s and consignee’s ledgers, and profit-sharing mechanisms in joint ventures.
• Block-4: Accounts from Incomplete Records: Teaches techniques to reconstruct financial statements using single-entry bookkeeping data, including the use of capital and current ratio adjustments.
• Block-5: Advanced Topics in Accountancy-I: Integrates practical scenarios such as accounting for bills of exchange, bank reconciliation statements, and partnership accounts with profit-sharing ratios.

Frequently Asked Questions

Q: How are marks distributed in the ECO-02 TMA (Tutor Marked Assignment) for the 2026-27 session?
A: The TMA for ECO-02 carries 30 marks out of the total 100, with each question typically weighted proportionally (e.g., 10 marks per section). Adherence to word limits and structured answers is critical for full credit.

Q: What is the minimum passing percentage required for ECO-02 in the 2026-27 session?
A: IGNOU mandates a minimum of 40% aggregate marks across all components (TMA, term-end exam, and practicals) to pass ECO-02, with no sectional failure allowed in the term-end examination.