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Introduction to Accounting
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Introduction to Accounting



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    • Drawings: Amount or benefit withdrawn by the owner from the business.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