Accounting

1. Accounting for Decision
Making

2. Motivate
by
clapping
Respect each
other’s view
Ask
questions
and clarify
any doubts
Put mobile
on silent
mode or
switch off
The workshop guidelines
Discipline is the bridge between goals and
accomplishment

3. • Attendance will be updated within 5 Minutes of beginning of Class
• No Change of Attendance will be possible once attendance of the day
is marked
• Students will not be allowed to appear in Semester Exam on not
maintaining the minimum stipulated attendance

4. Evaluation Criterion
• Assignment 0.1
• 3-4 Surprise Quizes (including Foundation Quiz) 0.2
• Case Analysis 0.1
• Mid Term Exam 0.2
• End term Exam 0.4
It is desired to carry Laptops as Most of the Practice Questions will be through Excel

5. Foundation Quiz

6. Objective of the Session
• Understanding of Accounting Environment

7. Why Accounting
• Accounting provides information that is useful in making
business and economic decision for making reasoned choice
among alternative uses of scarce resources in the conduct of
business and economic activities

8. Users of Accounting Information
• Investors
• Lenders
• Security Analyst, Rating Agencies
• Managers
• Employees & Trade Union
• Supplier & Trade Financiers
• Customers
• Govt. & Regulatory Authorities
• The Public

9. Accounting Process
• Analysis of Transactions
• Documentation : Voucher
• Recording
• Classifying : Ledger
• Summarizing :Trial Balance
• Bifurcating the Trial Balance : Income Statement & Balance Sheet

10. 10
Accounting Measurement Assumption
Going Concern Concept
Periodicity
Separate Entity Concept
Money Measurement

11. GAAP(Generally Acceptable Accounting Principle)
• GAAP consists of convention, rules and procedures that defined accepted
accounting practice
Institution that Influence Indian GAAP
Ministry Of Corporate Affairs
SEBI
Institute of Chartered Accountants of India
Income Tax Authorities
RBI
Comptroller & Auditor Genera of India
International Accounting Standard Board
Various other Regulatory Authorities such as IRDA

12. Financial Statements
• Profit & Loss (Income) Statement
• Statement of Retained Earnings
• Balance Sheet
• Cash Flow Statement

13. Accounting Equation
Asset = Liability + Capital

14. • Smoky Valley Case

15. • Summary of the Session