4. Def_ It is the processe
To identifying, measuring
Recording &
communicating (IMRC)
economical events
Of organization information
to the users
5. Objective _
1l maintain all records of business
2l Calculation of profit and loss
3l To know reasons to net profit & losses
4| To prevent errors and frauds
5lTo increase progress of
Business
6l ProvisionProvision to information
to all business decisions
6. Branches of Accounting
1l Financial Accounting
2] Cost accounting
3l Tax accounting
4] Management accounting
5] social accounting
7. 1l Financial Accounting
* This account is directly toward to prepare
profit and Losses.
* It also prepare BLANCE SWEET.
* It recorded TRANGECTION OF BUSINESS.
* OWNERS KNOW about FINANCIAL STATE
of BUSINESS.
8. 2] COST ACCOUNTING
* It process of accounting for COST
* It is systematic process to determine
cost of output
Main purpose
" To FIND OUT COST OF PRODUCT
"HELP TO MANAGEMENT TO CONTROLLING
COST
9. 3] TAX ACCOUNTING
* This is branch of accounting
* It used for tax purpose is called
tax accounting
* some ex_ Income tax,
sales tax,
It is part of "accounting "