ACCOUNTANCY FOR BUSINESS  AFTERSCHO☺OL  – DEVELOPING CHANGE MAKERS  CENTRE FOR SOCIAL ENTREPRENEURSHIP  PGPSE PROGRAMME – ...
ACCOUNTANCY FOR BUSINESS Dr. T.K. Jain. AFTERSCHO☺OL Centre for social entrepreneurship Bikaner M: 9414430763 [email_addre...
WHO SIGNS PROMISSORY NOTE?  <ul><li>PROMISER </li></ul>
I DRAW A BILL ON RAM, ENDORSE IT RAHIM, WHO ENDORSE IT TO MOHAN. WHO IS PAYEE, AND WHO IS PAYER?  <ul><li>PAYEE IS MOHAN <...
WHEN SHOULD WE GO TO NOTARY PUBLIC FOR BILLS?  <ul><li>WHEN BILL IS DISHONOURED </li></ul>
CAN DRAWEE AND PAYEE BE SAME PERSON?  <ul><li>YES  - IN CASE OF PROMISSORY NOTE, IT DRAWEE MAY HOLD NOTE TILL MATURITY AND...
CAN DRAWER AND PAYEE BE SAME PERSON? <ul><li>YES – IN CASE OF BILL, THE DRAWER MAY HOLD THE BILL TILL MATURITY AND BECOME ...
The total of sale or return day book is transferred to .. .? <ul><li>Sale or return register.  </li></ul>
What are the columns on sale or return journal?  <ul><li>These are : </li></ul><ul><li>Goods sent on approval column </li>...
I have sent goods on sale or return basis on 1 August. On 31 march I reverse this entry. The customer returns the goods on...
In my  sale or return register, the total of sent on approval is 12000, returned total is 2000,  approved total is 5000. w...
I draw a bill on Ankit for Rs. 50000 for 3 months. We agree to share proceed equally. I get the bill discounted  at 12%. H...
I have send Rs. 50000 to Ankit on 30 March on sale or return basis. (I rarely send goods on sale or return). Ankit approve...
I am a partner, can I buy building for my firm, without concent of other partners? <ul><li>No  </li></ul>
I am a partner, can I buy goods for my firm, without concent of other partners? <ul><li>Yes  </li></ul>
I am a partner, can I appoint a clerk for my firm, without consent of other partners? <ul><li>Yes  </li></ul>
I am a partner, can accept a liability in court on behalf of my firm, without consent of other partners? <ul><li>No  </li>...
I am a partner, can I make my firm partner in another firm, without consent of other partners? <ul><li>No.  </li></ul>
I am a partner, can I settle with a my creditor to receive only Rs. 50000 instead of Rs. 1 lakh for my firm, without conse...
I and Rishabh are partners, with capital in the ratio of 1:10. how will we share profit, if there is no agreement?  <ul><l...
I and Rishabh are partners, with capital in the ratio of 1:10. I further have lot of drawings. Shall I pay interest on dra...
Can I get partnership agreement registered?  <ul><li>No – partnership deed is registered – not the partnership agreement. ...
Is account current a part of book of accounts?  <ul><li>No (current account is part of book of accounts, not the account c...
Ram is doing a business and shares profit / loss equally with Mohan & Ravi. Are they partners?  <ul><li>Yes  </li></ul>
Is a partner an agent of the firm?  <ul><li>Yes  </li></ul>
Will rent paid to partner come in P & L Appropriation account?  <ul><li>No.  </li></ul>
Will interest on capital paid to partner come in P & L Appropriation account? <ul><li>Yes  </li></ul>
A,B,C have incurred loss of Rs. 90000. A has given guarantee to C. there is no other agreement. How will they share it?  <...
ABOUT AFTERSCHOOOL <ul><li>Afterschoool conducts three year integrated PGPSE (after class  12 th   along with  IAS / CA / ...
Why such a programme? <ul><li>To promote people to take up entrepreneurship and help develop the society </li></ul><ul><li...
Who are our supporters? <ul><li>Afterschoolians, our past beneficiaries, entrepreneurs and social entrepreneurs are suppor...
About AFTERSCHOOOL PGPSE – the best programme for developing great entrepreneurs <ul><li>Most flexible, adaptive but rigor...
Workshops from AFTERSCHOOOL <ul><li>IIF, Delhi </li></ul><ul><li>CIPS, Jaipur </li></ul><ul><li>ICSI Hyderabad Branch </li...
Flexible Specialisations: <ul><li>Spiritualising business and society </li></ul><ul><li>Rural development and transformati...
Salient features: <ul><li>The only programme of its kind (in the whole world) </li></ul><ul><li>No publicity and low profi...
Components  <ul><li>Pedagogy curriculum and approach based on IIM Ahmedabad and ISB Hyderabad (the founder is alumnus from...
Pedagogy  <ul><li>Case analysis, </li></ul><ul><li>Articles from Harvard Business Review  </li></ul><ul><li>Quiz, seminars...
Branches <ul><li>AFTERSCHOOOL will shortly open its branches in important cities in India including Delhi, Kota, Mumbai, G...
Case Studies <ul><li>We want to write case studies on social entrepreneurs, first generation entrepreneurs, ethical entrep...
Basic values at afterschoool <ul><li>Share to learn more </li></ul><ul><li>Interact to develop yourself </li></ul><ul><li>...
www.afterschoool.tk   social entrepreneurship for better society
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21 August Accountancy For Business

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21 August Accountancy For Business

  1. 1. ACCOUNTANCY FOR BUSINESS AFTERSCHO☺OL – DEVELOPING CHANGE MAKERS CENTRE FOR SOCIAL ENTREPRENEURSHIP PGPSE PROGRAMME – World’ Most Comprehensive programme in social entrepreneurship & spiritual entrepreneurship OPEN FOR ALL FREE FOR ALL
  2. 2. ACCOUNTANCY FOR BUSINESS Dr. T.K. Jain. AFTERSCHO☺OL Centre for social entrepreneurship Bikaner M: 9414430763 [email_address] www.afterschool.tk www.afterschoool.tk
  3. 3. WHO SIGNS PROMISSORY NOTE? <ul><li>PROMISER </li></ul>
  4. 4. I DRAW A BILL ON RAM, ENDORSE IT RAHIM, WHO ENDORSE IT TO MOHAN. WHO IS PAYEE, AND WHO IS PAYER? <ul><li>PAYEE IS MOHAN </li></ul><ul><li>PAYER IS RAM </li></ul>
  5. 5. WHEN SHOULD WE GO TO NOTARY PUBLIC FOR BILLS? <ul><li>WHEN BILL IS DISHONOURED </li></ul>
  6. 6. CAN DRAWEE AND PAYEE BE SAME PERSON? <ul><li>YES - IN CASE OF PROMISSORY NOTE, IT DRAWEE MAY HOLD NOTE TILL MATURITY AND DRAWEE AND PAYEE WILL BE SAME. </li></ul>
  7. 7. CAN DRAWER AND PAYEE BE SAME PERSON? <ul><li>YES – IN CASE OF BILL, THE DRAWER MAY HOLD THE BILL TILL MATURITY AND BECOME THE PAYEE </li></ul>
  8. 8. The total of sale or return day book is transferred to .. .? <ul><li>Sale or return register. </li></ul>
  9. 9. What are the columns on sale or return journal? <ul><li>These are : </li></ul><ul><li>Goods sent on approval column </li></ul><ul><li>Goods approved column </li></ul><ul><li>Goods returned column </li></ul>
  10. 10. I have sent goods on sale or return basis on 1 August. On 31 march I reverse this entry. The customer returns the goods on 1 April. What entry should I pass now? <ul><li>No entry is necessary – as I have already passed the reverse entry </li></ul>
  11. 11. In my sale or return register, the total of sent on approval is 12000, returned total is 2000, approved total is 5000. what is the balance of sent on approval? <ul><li>(12000 – 2000-5000) </li></ul><ul><li>=5000 answer. </li></ul>
  12. 12. I draw a bill on Ankit for Rs. 50000 for 3 months. We agree to share proceed equally. I get the bill discounted at 12%. How much money shall send Ankit now and how much shall I send after 3 months ? <ul><li>It is an accommodation bill. I get (50000-1500) = 48500. this amount has to be shared equally. I have to send 24250 immediately to Ankit and after 3 months, I shall send Rs. 25000 to Ankit. (ans). </li></ul>
  13. 13. I have send Rs. 50000 to Ankit on 30 March on sale or return basis. (I rarely send goods on sale or return). Ankit approves half of the items on 31 March and for other half, he gives approval for 50% & rejects the rest on 1 April. When and what will I record? (GP Ratio 25%) <ul><li>30 March: Ankit Dr & Sales Credit 50000 </li></ul><ul><li>31.3: Sales Dr. Ankit Cr 25000 </li></ul><ul><li>31.3 Stock with customers. Dr. Trading credit 20000 </li></ul><ul><li>1.4 trading dr. stock with customers. cr20000 </li></ul><ul><li>1.4. Ankit dr. sales cr. 12500 (ans. ). </li></ul>
  14. 14. I am a partner, can I buy building for my firm, without concent of other partners? <ul><li>No </li></ul>
  15. 15. I am a partner, can I buy goods for my firm, without concent of other partners? <ul><li>Yes </li></ul>
  16. 16. I am a partner, can I appoint a clerk for my firm, without consent of other partners? <ul><li>Yes </li></ul>
  17. 17. I am a partner, can accept a liability in court on behalf of my firm, without consent of other partners? <ul><li>No </li></ul>
  18. 18. I am a partner, can I make my firm partner in another firm, without consent of other partners? <ul><li>No. </li></ul>
  19. 19. I am a partner, can I settle with a my creditor to receive only Rs. 50000 instead of Rs. 1 lakh for my firm, without consent of other partners? <ul><li>No. </li></ul>
  20. 20. I and Rishabh are partners, with capital in the ratio of 1:10. how will we share profit, if there is no agreement? <ul><li>Equally </li></ul>
  21. 21. I and Rishabh are partners, with capital in the ratio of 1:10. I further have lot of drawings. Shall I pay interest on drawings? <ul><li>NO (If there is no agreement, no interest is payable). </li></ul>
  22. 22. Can I get partnership agreement registered? <ul><li>No – partnership deed is registered – not the partnership agreement. </li></ul>
  23. 23. Is account current a part of book of accounts? <ul><li>No (current account is part of book of accounts, not the account current). </li></ul>
  24. 24. Ram is doing a business and shares profit / loss equally with Mohan & Ravi. Are they partners? <ul><li>Yes </li></ul>
  25. 25. Is a partner an agent of the firm? <ul><li>Yes </li></ul>
  26. 26. Will rent paid to partner come in P & L Appropriation account? <ul><li>No. </li></ul>
  27. 27. Will interest on capital paid to partner come in P & L Appropriation account? <ul><li>Yes </li></ul>
  28. 28. A,B,C have incurred loss of Rs. 90000. A has given guarantee to C. there is no other agreement. How will they share it? <ul><li>A will bear Rs. 60000 and B will bear Rs. 30000. (C will not bear any loss, his share of loss will be borne by A). </li></ul>
  29. 29. ABOUT AFTERSCHOOOL <ul><li>Afterschoool conducts three year integrated PGPSE (after class 12 th along with IAS / CA / CS ) and 18 month PGPSE (Post Graduate Programme in Social Entrepreneurship) along with preparation for CS / CFP / CFA /CMA / FRM . This course is also available online also. It also conducts workshops on social entrepreneurship in schools and colleges all over India – start social entrepreneurship club in your institution today with the help from afterschoool and help us in developing society. </li></ul>
  30. 30. Why such a programme? <ul><li>To promote people to take up entrepreneurship and help develop the society </li></ul><ul><li>To enable people to take up franchising and other such options to start a business / social development project </li></ul><ul><li>To enable people to take up social development as their mission </li></ul><ul><li>To enable people to promote spirituality and positive thinking in the world </li></ul>
  31. 31. Who are our supporters? <ul><li>Afterschoolians, our past beneficiaries, entrepreneurs and social entrepreneurs are supporting us. </li></ul><ul><li>You can also support us – not necessarily by money – but by being promotor of our concept and our ideas. </li></ul>
  32. 32. About AFTERSCHOOOL PGPSE – the best programme for developing great entrepreneurs <ul><li>Most flexible, adaptive but rigorous programme </li></ul><ul><li>Available in distance learning mode </li></ul><ul><li>Case study focused- latest cases </li></ul><ul><li>Industry oriented practical curriculum </li></ul><ul><li>Designed to make you entrepreneurs – not just an employee </li></ul><ul><li>Option to take up part time job – so earn while you learn </li></ul><ul><li>The only absolutely free course on internet </li></ul>
  33. 33. Workshops from AFTERSCHOOOL <ul><li>IIF, Delhi </li></ul><ul><li>CIPS, Jaipur </li></ul><ul><li>ICSI Hyderabad Branch </li></ul><ul><li>Gyan Vihar, Jaipur </li></ul><ul><li>Apex Institute of Management, Jaipur </li></ul><ul><li>Aravali Institute of Management, Jodhpur </li></ul><ul><li>Xavier Institute of Management, Bhubaneshwar </li></ul><ul><li>Pacific Institute, Udaipur </li></ul><ul><li>Engineering College, Hyderabad </li></ul>
  34. 34. Flexible Specialisations: <ul><li>Spiritualising business and society </li></ul><ul><li>Rural development and transformation </li></ul><ul><li>HRD and Education, Social Development </li></ul><ul><li>NGO and voluntary work </li></ul><ul><li>Investment analysis,microfinance and inclusion </li></ul><ul><li>Retail sector, BPO, KPO </li></ul><ul><li>Accounting & Information system (with CA / CS /CMA) </li></ul><ul><li>Hospital management and Health care </li></ul><ul><li>Hospitality sector and culture and heritage </li></ul><ul><li>Other sectors of high growth, high technology and social relevance </li></ul>
  35. 35. Salient features: <ul><li>The only programme of its kind (in the whole world) </li></ul><ul><li>No publicity and low profile course </li></ul><ul><li>For those who want to achieve success in life – not just a degree </li></ul><ul><li>Indepth knowledge and expertise </li></ul><ul><li>Professional approac: World class approach </li></ul><ul><li>Strong intellectual and business capabilities </li></ul><ul><li>Flexible – you may stay for a month and continue the rest of the education by distance mode. / you may attend weekend classes </li></ul><ul><li>Scholarships for those from poor economic background </li></ul><ul><li>Latest and constantly changing curriculum – keeping pace with the time </li></ul><ul><li>Placement for those who are interested </li></ul><ul><li>Admissions open throughout the year </li></ul><ul><li>Latest and most advanced technologies, books and study material </li></ul>
  36. 36. Components <ul><li>Pedagogy curriculum and approach based on IIM Ahmedabad and ISB Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad) </li></ul><ul><li>Meditation, spiritualisation, and self development </li></ul><ul><li>Essential softwares for business </li></ul><ul><li>Business plan, Research projects </li></ul><ul><li>Participation in conferences / seminars </li></ul><ul><li>Workshops on leadership, team building etc. </li></ul><ul><li>Written submissions of research projects/articles / papers </li></ul><ul><li>Interview of entrepreneurs, writing biographies of entrepreneurs </li></ul><ul><li>Editing of journals / newsletters </li></ul><ul><li>Consultancy / research projects </li></ul><ul><li>Assignments, communication skill workshops </li></ul><ul><li>Participation in conferences and seminars </li></ul><ul><li>Group discussions, mock interviews, self development diaryng </li></ul><ul><li>Mind Power Training & writing workshop (by Dr. T.K.Jain) </li></ul>
  37. 37. Pedagogy <ul><li>Case analysis, </li></ul><ul><li>Articles from Harvard Business Review </li></ul><ul><li>Quiz, seminars, workshops, games, </li></ul><ul><li>Visits to entrepreneurs and industrial visits </li></ul><ul><li>Presentations, Latest audio-visuals </li></ul><ul><li>Group discussions and group projects </li></ul><ul><li>Periodic self assessment </li></ul><ul><li>Mentoring and counselling </li></ul><ul><li>Study exchange programme (with institutions out of India) </li></ul><ul><li>Rural development / Social welfare projects </li></ul>
  38. 38. Branches <ul><li>AFTERSCHOOOL will shortly open its branches in important cities in India including Delhi, Kota, Mumbai, Gurgaon and other important cities. Afterschooolians will be responsible for managing and developing these branches – and for promoting social entrepreneurs. </li></ul>
  39. 39. Case Studies <ul><li>We want to write case studies on social entrepreneurs, first generation entrepreneurs, ethical entrepreneurs. Please help us in this process. Help us to be in touch with entrepreneurs, so that we may develop entrepreneurs. </li></ul>
  40. 40. Basic values at afterschoool <ul><li>Share to learn more </li></ul><ul><li>Interact to develop yourself </li></ul><ul><li>Fear is your worst enemy </li></ul><ul><li>Make mistakes to learn </li></ul><ul><li>Study & discuss in a group </li></ul><ul><li>Criticism is the healthy route to mutual support and help </li></ul><ul><li>Ask fundamental questions : why, when, how & where? </li></ul><ul><li>Embrace change – and compete with yourself only </li></ul>
  41. 41. www.afterschoool.tk social entrepreneurship for better society
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