BASICS OF ACCOUNTING

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BASICS OF ACCOUNTING

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MEANING :

AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS “ ACCOUNTING is the art of recording , classifying and summarizing in a significant manner and in terms of money , transactions and events , which are , in part at least , of a financial character , and interpreting the results there of.” MEANING

FEATURES / NATURE :

RECORDING CLASSIFICATION SUMMARISATION INTERPRETATION FEATURES / NATURE

PowerPoint Presentation:

ACCOUNTING CYCLE SOURCE DOCUMENTS FINANCIAL STATEMENTS TRIAL BALANCE LEDGER JOURNALS ACCOUNTING CYCLE

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TYPES OF ACCOUNTING

PowerPoint Presentation:

TRADING ACCOUNTS PROFIT &LOSS ACCOUNTS BALANCE SHEET FINANCIAL ACCOUNTING

COST ACCOUNTING:

TOTAL COST PER UNIT COST COST CONTROL COST ACCOUNTING

MANAGEMENT ACCOUNTING:

PLANNING & CONTROLLING THE OPERATIONS TECHNIQUES RATIO ANALYSIS BUDGETARY CONTROL FUND FLOW STATEMENTCASH FLOW STATEMENT MANAGEMENT ACCOUNTING

TAX ACCOUNTING:

INCOME TAX SALES TAX WEALTH TAX TAX ACCOUNTING

SOCIAL RESPONISIBILITY ACCOUNTING:

EMPLOYMENT FINANCIAL & MANPOWER SUPPORT CUSTOMER SATISFACTION ENVIRONMENT SAFETY SOCIAL RESPONISIBILITY ACCOUNTING

MERITS:

ACCOUNTING HELPS IN KNOWING PROFIT KNOWING FINANCIAL POSITION OF BUSINESS LIST OF CREDITORS AND DEBTORS DECISION MAKING PLANNING FOR EXPANSION MERITS

DEMERITS:

INFLUENCED BY PERSONAL JUDGEMENT OMISSION OF QUALITATIVE INFORMATION BASED ON ACCOUNTING CONCEPTS AND CONVENTIONS BASED ON HISTORICAL COST DEMERITS

SHAPE OF ACCOUNTS:

SHAPE OF ACCOUNTS ACCOUNT TITLE DEBITS CREDITS

THANK YOU:

THANK YOU

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