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PCTE Group of Institutes
Accounting <ul><li>Recording </li></ul><ul><li>Classifying </li></ul><ul><li>Summarising </li></ul><ul><li>Analysing and i...
Objectives of Accounting <ul><li>Permanent record </li></ul><ul><li>Ascertain combined effect </li></ul><ul><li>Evaluate e...
Users of Accounting Information <ul><li>Investors </li></ul><ul><li>Lenders </li></ul><ul><li>Suppliers </li></ul><ul><li>...
Book Keeping Vs Accounting <ul><li>Stage </li></ul><ul><li>Scope </li></ul><ul><li>Skill </li></ul><ul><li>Operation </li>...
Accounting Cycle PCTE Group of Institutes
Terminology <ul><li>Proprietor/owner: The person who takes the initiative to start the business. </li></ul><ul><li>Capital...
Cont……… <ul><li>Debtor: Person from whom amounts are due for goods sold or services rendered. </li></ul><ul><li>Creditor: ...
Cont……………. <ul><li>Purchase </li></ul><ul><li>Sales </li></ul><ul><li>Purchases Return </li></ul><ul><li>Sales Return </li...
<ul><li>Assets </li></ul>PCTE Group of Institutes Fixed Assets Current Assets Fictitious  Assets Tangible Fixed Assets Int...
Cont……. <ul><li>Liabilities </li></ul><ul><li>Expense </li></ul><ul><li>Expenditure </li></ul><ul><li>Loss </li></ul><ul><...
Cont………………….. <ul><li>Account:  Date wise summary of transactions relating to persons, Property or expenses and incomes. <...
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Transcript of "C:\fakepath\introduction"

  1. 1. PCTE Group of Institutes
  2. 2. Accounting <ul><li>Recording </li></ul><ul><li>Classifying </li></ul><ul><li>Summarising </li></ul><ul><li>Analysing and interpretation </li></ul><ul><li>Reporting </li></ul><ul><li>Of financial Transactions </li></ul>PCTE Group of Institutes
  3. 3. Objectives of Accounting <ul><li>Permanent record </li></ul><ul><li>Ascertain combined effect </li></ul><ul><li>Evaluate earning capacity </li></ul><ul><li>Proper utilisation of resources </li></ul>PCTE Group of Institutes
  4. 4. Users of Accounting Information <ul><li>Investors </li></ul><ul><li>Lenders </li></ul><ul><li>Suppliers </li></ul><ul><li>Customer </li></ul><ul><li>Govt. Agencies </li></ul><ul><li>Public </li></ul><ul><li>Employees </li></ul>PCTE Group of Institutes
  5. 5. Book Keeping Vs Accounting <ul><li>Stage </li></ul><ul><li>Scope </li></ul><ul><li>Skill </li></ul><ul><li>Operation </li></ul><ul><li>Adjustments and rectification </li></ul><ul><li>Step </li></ul>PCTE Group of Institutes
  6. 6. Accounting Cycle PCTE Group of Institutes
  7. 7. Terminology <ul><li>Proprietor/owner: The person who takes the initiative to start the business. </li></ul><ul><li>Capital: Amount invested by the proprietor in the business. </li></ul><ul><li>Drawings: Amount or benefit withdrawn by the owner from the business. </li></ul><ul><li>Business Transaction: Any exchange of goods or services by the business with any other person in the business transaction. </li></ul>PCTE Group of Institutes
  8. 8. Cont……… <ul><li>Debtor: Person from whom amounts are due for goods sold or services rendered. </li></ul><ul><li>Creditor: Person to whom amount is owed by the enterprise . </li></ul><ul><li>Receivables: amount which outsiders owe to the enterprise. </li></ul><ul><li>Payables: Amount which business owe to the outsiders </li></ul><ul><li>Goods: </li></ul>PCTE Group of Institutes
  9. 9. Cont……………. <ul><li>Purchase </li></ul><ul><li>Sales </li></ul><ul><li>Purchases Return </li></ul><ul><li>Sales Return </li></ul><ul><li>Stock </li></ul><ul><li>Assets </li></ul>PCTE Group of Institutes
  10. 10. <ul><li>Assets </li></ul>PCTE Group of Institutes Fixed Assets Current Assets Fictitious Assets Tangible Fixed Assets Intangible Assets
  11. 11. Cont……. <ul><li>Liabilities </li></ul><ul><li>Expense </li></ul><ul><li>Expenditure </li></ul><ul><li>Loss </li></ul><ul><li>Profit </li></ul><ul><li>Revenue </li></ul><ul><li>Income </li></ul>PCTE Group of Institutes
  12. 12. Cont………………….. <ul><li>Account: Date wise summary of transactions relating to persons, Property or expenses and incomes. </li></ul><ul><li>Account </li></ul>PCTE Group of Institutes Personal account Impersonal Account Natural PA Natural PA Natural PA Real account Nominal Account P & L A/C Expenses & Losses A/C Tangible A/C Tangible A/C
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