this ppt is very very useful n understandable for students

1. INTRODUCTION
TO
ACCOUNTING

2. LEARNINGOBJECTIVES
 MEANING AND DEFINATION OF ACCOUNTING
 CHARACTERSISTICS OF ACCOUNTING
 ACCOUNTING PROCESS
 DIFFERENCE BETWEEN BOOK KEEPING AND ACCOUNTING
 MERITS N DEMERITS OF ACCOUNTING
 QUALITATIVE CHARACHTERISTICS OF ACCOUNTING

3. WHATIS ACCOUNTING??
 ACCOUNTING – A MEDIUM OF COMMUNIATION
CALLED LANGUAGE OF BUSINESS
 A SYSTEMATIC PROCESS OF IDENTIFYING ,
MEASURING , RECORDING , CLASSIFYING ,
SUMMARISING , ITERPRETING , AND
COMMUNICATING FINANCIAL INFORMATION TO
USERS.

4. CHARACTERISTICS OF ACCOUNTING
 IDENTIFICATION OF FINANCIAL TRANSACTIONS AND EVENTS
 MEASURING THE IDENTIFIED TRANSACTIONS
 RECORDING
 CLASSIFYING
 SUMMARISING
 ANALYSIS N INTERPRETATION
 COMMUNICATING

5. ACCONTING PROCESS
i. IDENTIFYING FINANCIAL TRANSACTIONS
ii. RECORDING
iii. CLASSIFYING
iv. SUMMARISING
v. ANALYSING N INTERPRETATION
vi. COMMUNICATING

6. • Bookkeeping is mainly related to
identifying, measuring, and recording,
financial transactions
• Management can't take a decision
based on the data provided by
bookkeeping
• The objective of bookkeeping is to keep
the records of all financial transactions
proper and systematic
• Bookkeeping doesn't require any
special skill sets
• Accounting is the process of
summarizing, interpreting, and
communicating financial transactions
which were classified in the ledger
account
• Depending on the data provided by the
accountants, the management can take
critical business decisions
• The objective of accounting is to gauge
the financial situation and further
communicate the information to the
relevant authorities
• Accounting requires special skills due
to its analytical and complex nature
 DEFINATIONS
 DECISION
MAKING
 OBJECTIVE
 SKILS
REQUIRED

8. QUALITATIVE CHARACTERISTICS
OF
ACCOUNTING INFORMATION
1. RELIABILITY – MEANS VERIFIABLE , FREE FROM
BIAS AND MATERIAL ERROR.
2. RELEVANCE – RELEVENT TO USERS , MEETS THE NEEDS OF
USERS IN DECISION MAKING.
3. UNDERSTANDABILITY – MEANS THAT THE INFORMATION
PROVIDED THROUGH FINANCIAL STATEMENT PRESENT IN A
MANNER.
4. COMPARABILITY – USER SHOULD BE ABLE TO COMPARE
ACCOUNTING INFORMATION OF ENTERPRISE.

9. MADE BY : YASHIKA JAIN
XI B
ACCOUNTS
[ART INTEGRATION ]