Trial balance

Trial-balance Trial Balance is the statement which shows either the balance of debit items and credit items of all the accounts in the ledger and the cash and bank balance try and double entry system Powerpoint Presentation Depreciation Class XII Accountancy Ppt on Stores Ledger a/c classXi Accountancy Balance Sheet_Class XI Statement of Affairs Profit and Loss Account Introduction to Accounting Financial Statements_Class XI INCOMPLETE ACCOUNTING RECORDS

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TRIAL BALANCE, RECTIFICATION AND THEIR ERRORS

Trial Balance “Trial Balance is the statement which shows either the balance of debit items and credit items of all the accounts in the ledger and the cash and bank balance”. Objectives of Trial Balance To ascertain the arithmetic accuracy of ledger accounts. To help in locating errors. To facilitate the preparation of financial statements. Format of a Trial Balance by Balance Method S.No Name of Accounts L.F Debit Balance Credit Balance   1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.     Purchases A/c Sales A/c…

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Theory Base of Accounting

                             Theory Base of Accounting                  Generally Accepted Accounting Principles- GAAP GAAP may be defines as those rules of action which are derived from experience and practice, and which are accepted as common principles to keep a same track of accounting for all.   Basic Assumption of Accounting Accounting Entity Assumption   A business will be treated as separate entity from its owners. Proper distinction must be made between personal transaction and business transaction. Money Measurement Assumption Only those transactions will be recorded which can be expressed in terms of money. Accounting…

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Recording-of-Transactions

Recording-of-Transactions When a business transaction occurs, it can be recorded in the books of an organization in a number of ways   try and double entry system Powerpoint Presentation Depreciation Class XII Accountancy Ppt on Stores Ledger a/c classXi Accountancy Balance Sheet_Class XI Statement of Affairs Profit and Loss Account Introduction to Accounting Financial Statements_Class XI INCOMPLETE ACCOUNTING RECORDS

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RECORDING OF TRANSACTION II

           Recording of Transaction II   Recording of Transaction II Special Journal  “Special journal refers to the journal meant for specific transactions of similar nature Special journal are also known as subsidiary book or day books”. Special Transactions to be Recorded in Special Journal Name of Special Journal Specific transactions to be recorded 1.       Cash Journals (a)     Simple Cash Book (b)    Cash Book with Discount Column (c)     Cash Book with Bank and Discount Column (d)    Petty Cash Book Cash TransactionsCash and Discount Transactions Cash Bank and …

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Not-for-profit Organisations Notes

Not-for-Profit-Organisation Not-for-profit Organisations are those organizations which are formed for the purpose of promoting commerce and intend to spend their income in promoting their objectives   try and double entry system Powerpoint Presentation Depreciation Class XII Accountancy Ppt on Stores Ledger a/c classXi Accountancy Balance Sheet_Class XI Statement of Affairs Profit and Loss Account Introduction to Accounting Financial Statements_Class XI INCOMPLETE ACCOUNTING RECORDS

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INTRODUCTION TO ACCOUNTING

Introduction to Accounting Accounting is the art of recording, classifying and summarizing in a significant manner and in term of money, transactions and events which are, in part at least of financial character, and interpreting the results there of.   Single entry and double entry system Powerpoint Presentation Depreciation Class XII Accountancy Ppt on Stores Ledger a/c classXi Accountancy Balance Sheet_Class XI Statement of Affairs Profit and Loss Account Introduction to Accounting Financial Statements_Class XI INCOMPLETE ACCOUNTING RECORDS

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FINANCIAL STATEMENT-II

Financial Statement “Financial Statement is the organized and summarised detailed information about the financial position and performance of the business”. Interested Users of Financial Statements. Users Information Requirement Investors. They need information to help them determine whether they should buy, hold or sell. Shareholders are also interested in information which enables them to assess the ability of the entity to pay dividends. Lenders Lenders are interested in information that enables them to determine whether their loans, and the interest attaching to them, will be paid when due. Creditors Suppliers and…

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