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Accounting - CA Foundation - Principles and practice of Accounting
- 1. Best Online Video Lectures for CA, CS, CMA Follow us on https://www.learncab.com/
- 2. Accounting
- 3. Functions of Accounting Measurement Forecasting Decision making Comparison and evaluation Control Government regulation and taxation
- 4. Book keeping • Why ???? • Complete record of all transactions
- 5. Difference 1 2 3 4 5 All steps of accounting process There is need for special skills and qualification Accounting begins where book keeping ends Aids decision making Financial position can be ascertained AccountingBook keeping Only first three steps of accounting process No need for special skills and qualification Base for accounting Does not aid decision making Financial position cannot be ascertained
- 7. Other Fields of Accounting Deals with past events to find results Also called post mortem analysis 1. Financial Accounting
- 8. Other Fields of Accounting 2. Cost accounting 01 02 focus is on cost Helps identify cost Guides in reducing & controlling cost 03
- 9. Other Fields of Accounting Focus on management Internal use Guides in decision making Related to cost accounting 3. Management accounting
- 10. Accounting for • Social costs • Social benefits Other Fields of Accounting 4. Social responsibility accounting
- 11. Other Fields of Accounting 5. Human resource accounting Identify and report investment in HR Cost vs benefits New concept
- 12. Users of Financial Information 1. Investors 01 02 To make decision – buy, sell , hold ??? To know whether they can expect dividend Proprietorship - to decide whether to continue or not Why?? 03
- 13. 2. Employees Users of Financial Information How stable is their job Why?? Expectation of bonus / increments
- 14. Users of Financial Information 3. Lenders /Suppliers/ Creditors Different or same ? Why?? To know if their dues will be paid or not Whether to continue giving credit in future
- 15. 4. Customers Users of Financial Information Why? If the supply of goods will continue or not If business is the only one of its kind
- 16. 5. Government and Agencies Users of Financial Information 01 To control prices for basic goods 02 To design taxation systems 03 To decide credit for important sectors 04 To allocate resources Why??
- 17. 6. Public Users of Financial Information Media Potential customers Who? Potential investors
- 18. 7. Management Users of Financial Information Why?? Decision making Future planning Budgeting
- 19. Limitations of Accounting Ignores non monetary factors Ignores price level changes and inflation Not always exact , since estimates are made Manipulation or window dressing
- 20. “Best Online Video Lectures for CA, CS, CMA” For the full lesson check: www.Learncab.com
Editor's Notes
- Animation , one at a time
- Animation one by one
- Animation – twist
- Animation , one by one