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Foundation accounting
- 1. CMA Ram M.Com, M.A(Eco). MSc, MBA, FCMA, FAFE, CAIIB, CCP Language of Business
- 3. Language of Business • Accounting policies • Accrual • Accrual/Mercantile Basis of Accounting • Accrued Asset • Accrued Expense • Accrued Liability • Accrued Revenue • Accumulated Depletion • Accumulated Depreciation
- 4. Language of Business • Advance • Amortised Value • Annual Report • Appropriation Account • Assets • Authorised Share Capital • Average Cost • Bad Debts • Balance Sheet • Bill of Exchange • Bonus Shares • Book Value
- 5. Language of Business • Borrowing costs • Bond/Debenture • Call • Called-up Share Capital • Capital • Capital Assets • Capital Commitment • Capital Employed • Capital Profit/Capital Loss • Capital Reserve • Capital Work-in-progress • Cash
- 6. Language of Business • Cash equivalents • Cash Basis of Accounting • Cash Discount • Cash Profit • Carrying amount • Charge • Cheque • Collateral Security • Costs of disposal • Contingency • Contingent Asset • Contingent Liability
- 7. Language of Business • Contra Account • Cost • Cost of Purchase • Cost of Goods Sold • Conversion Cost • Convertible Debenture • Cumulative Dividend • Cumulative Preference Shares • Current Assets • Current Liability • Deferral • Deficiency
- 8. Language of Business • Deficit • Depletion • Depreciation • Depreciable amount • Depreciable assets • Depreciation Method • Depreciation Rate • Diminishing Balance Method • Discount • Dividend • Entity Concept • Equity Share
- 9. Language of Business • Exchange difference • Expenditure • Expense • Expired Cost • Extraordinary items • Fair value • Fair Market Value • First Charge • First In, First Out (FIFO) • Fixed asset • Fixed Cost • Fixed Deposit
- 10. Language of Business • Floating Charge • Financial Instrument • Foreign currency • Forfeited Share • Free Reserve • Functional Classification • Fund • Fundamental Accounting Assumptions • Gain • General Reserve • Going Concern Assumption • Goodwill
- 11. Language of Business • Gross Margin or Gross Profit • Government • Government grants • Gross book value • Income and Expenditure Statement • Intangible Asset • Investment • Investments • Issued Share Capital • Joint venture • Last In, First Out (LIFO) • Liability
- 12. Language of Business • Long-term Liability • Lease • Materiality • Mortgage • Net Assets/Shareholders’ funds/Net Worth • Net Fixed Assets • Net Profit/Net loss • Net realizable value • Obsolescence • Operating Profit • Paid-up Share Capital • Preference Share Capital
- 13. Language of Business • Preliminary Expenses • Prepaid Expense • Prime Cost • Prior Period Item • Profit/Loss • Profit and Loss Account • Promissory Note • Provision • Provision for Doubtful Debts • Prudence • Redeemable Preference Share • Redemption
- 14. Language of Business • Reserve • Revaluation Reserve • Residual value • Revenue/Income • Revenue Reserve • Right Share • Sales Turnover/Gross Turnover/Gross Sales • Secured Loan • Share Capital • Share Discount • Shareholders’ Equity • Share Issue Expenses
- 15. Language of Business • Share warrants • Securities Premium • Sinking Fund • Straight Line Method • Subscribed Share Capital • Substance over Form • Sundry Creditors / Trade Creditors/Trade payables • Sundry Debtors / Trade Debtors/ Trade Receivables • Surplus • Trade Discount • Unexpired Cost • Unissued Share Capital
- 16. Language of Business • Unpaid Dividend • Useful life