The document defines and explains key accounting concepts related to ledgers and trial balances. It begins by defining a ledger as the principal book of accounts where similar transactions are recorded under their appropriate accounts. It then discusses the features and purpose of ledgers, including that they contain various accounts, serve as the book of final entry, and help in preparing financial statements. The document also compares journals and ledgers, provides examples of ledger postings, and defines and explains the purpose and limitations of trial balances.
It's a good presentation for those students who just started to learn accounting.
Basic theory of accounting must be clear, and there for here I have uploaded this presentation.
Financial accounting Meaning . This is useful for, BCOM,MCOM,CA,CS,CMA STUDENTSBibek Prajapati
Financial accounting is a specialized branch of accounting that keeps track of a company's financial transactions. Using standardized guidelines, the transactions are recorded, summarized, and presented in a financial report or financial statement such as an income statement or a balance sheet.
This is useful for, BCOM,MCOM,CA,CS,CMA STUDENTS
Lots of people ask me about “how to prepare financial Statement”. That’s Why I prepared a summary on “how to prepare financial Statement”. Every small entrepreneur should have a good knowledge on financial statement. They should know some basic idea. For More details https://www.accountingprime.com/
Class- XI Financial Accounting
Chapter- 1 Introduction To Accounting
Includes detailed explanation as well as mind maps for quick revision and a glance. #financialaccounting #class11 #ppt #class11chapter1 #accounts #commerce #class11accountschapter1 #quick revision #smritisharma #introductiontoaccounting #detailedexplanantion
It's a good presentation for those students who just started to learn accounting.
Basic theory of accounting must be clear, and there for here I have uploaded this presentation.
Financial accounting Meaning . This is useful for, BCOM,MCOM,CA,CS,CMA STUDENTSBibek Prajapati
Financial accounting is a specialized branch of accounting that keeps track of a company's financial transactions. Using standardized guidelines, the transactions are recorded, summarized, and presented in a financial report or financial statement such as an income statement or a balance sheet.
This is useful for, BCOM,MCOM,CA,CS,CMA STUDENTS
Lots of people ask me about “how to prepare financial Statement”. That’s Why I prepared a summary on “how to prepare financial Statement”. Every small entrepreneur should have a good knowledge on financial statement. They should know some basic idea. For More details https://www.accountingprime.com/
Class- XI Financial Accounting
Chapter- 1 Introduction To Accounting
Includes detailed explanation as well as mind maps for quick revision and a glance. #financialaccounting #class11 #ppt #class11chapter1 #accounts #commerce #class11accountschapter1 #quick revision #smritisharma #introductiontoaccounting #detailedexplanantion
INTRODUCTION TO ACCOUNTING, Accounting Information System, Accounting Transaction, Accounting Transactions andaccounting equations, Double Entry System, Journal - The Book of Original Entry, Ledger & Trial Balance.
BASIC ACCOUNTING FOR ALL INCLUDING MANAGERS. ACCOUNTING, DOUBLE ENTRY SYSTEM, JOURNEL (defination,advantages/limitations, how to make,) TRAIL BALANCE(defination,limitations/advantages, steps}
Trial balance and rectification of errorsItisha Sharma
Trial balance and rectification of errors, Introduction- Specimen of a Trial Balance- Errors and their rectification – Rectification of errors Rectification of errors detected after the preparation of Trial Balance but before the preparation of Final Accounts- Effect of errors on Profit – Rectification of errors appearing after the preparation of Final Accounts
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
2. Meaning
• Ledger is the principal book of accounts.
• It is a set of accounts where similar transactions
relating to a particular person or property or revenue
or expense are recorded.
• The main function of a ledger is to classify or sort out
all the items appearing in the journal or other
subsidiary books under their appropriate accounts
– so that at the end of the accounting period each account
will contain the entire information of all the transactions
relating to it in a summarized or condensed form.
3. Features of ledger
• Ledger is an account book that contains various accounts to which various
business transactions of a business enterprise are posted.
• It is a book of final entry because the transactions that are first entered in
the journal or special purpose Books are finally posted in the ledger.
• It is also called the Principal Book of Accounts.
• In the ledger all types of accounts relating to assets, liabilities, capital,
revenue and expenses are maintained.
• It is a permanent record of business transactions classified into relevant
• accounts.
• It is the ‘reference book of accounting system and is used to classify and
summaries transactions to facilitate the preparation of financial
statements.
4. Purpose of Ledger
i) Quick information about various
transactions
ii) Proper control over transactions
iii) Helpful in preparing Trial Balance
iv) Helpful in preparing Financial Statements
5. DIFFERENCE BETWEEN JOURNAL AND LEDGER
S.
NO.
BASIS OF
DIFFERENCE
JOURNAL LEDGER
1. Entry Journal is a book of original
entry.
Ledger is a book of secondary
entry.
2. Record Journal is the Book for
Chronological record.
Ledger is the Book of
analytical record .
3. Classification
of data
Transaction is the basis of
recording in the journal.
Journal is the basis of posting
in the ledger.
4. Process of
recording
Process of recording in the
Journal is called journalizing.
Process of recording in the
ledger is known as ledger
posting.
7. Posting
‘Posting’ means transferring the debit and credit items from the journal to
their respective accounts in the ledger.
Rules of Posting
- The names of accounts used in the journal carried to the ledger should be
exactly the same.
- Separate accounts should be opened in the ledger for posting transactions
relating to different accounts recorded in the journal.
- It is customary to use the words ‘To’ and ‘By’ while making posting in the
ledger.
- The words ‘To ’is used with the accounts shown on the debit side of the ledger
account
- The word ‘By’ is used with accounts which appear on the credit side of the
ledger account.
- In the folio column, the page number of the journal from where the entry
is transferred to ledger account is written.
- The date of the transaction is written in the date column.
12. Illustration 1
Journalize the following transactions, post them in the
Ledger and balance the accounts on 31 January:
1. Ram started business with a capital of Rs 10,000.
2. He purchased goods from Mohan on credit Rs 2,000.
3. He paid cash to Mohan Rs 1,000.
4. He sold goods to Suresh Rs 2,000.
5. He received cash from Suresh Rs 3,000.
6. He further purchased goods from Mohan Rs 2,000.
7. He paid cash to Mohan Rs 1,000.
8. He further sold goods to Suresh Rs 2,000.
9. He received cash from Suresh Rs 1,000.
16. Importance of Ledger
• Knowledge of Business results
• Knowledge of book value of assets
• Useful for management
• Knowledge of Financial Position
• Instant Information
19. Meaning and Definition
• Meaning – When posting of all the
transactions into the Ledger is completed and
accounts are balanced off, then the balance of
each account is put on a list called Trial
Balance.
• Definition – Trial Balance is the list of debit
and credit balances taken out from ledger. “It
also includes the balances of Cash and bank
taken from the Cash Book”.
21. Steps to prepare Trial Balance
(i) At first ascertain the balance account wise of all the ledger accounts.
(ii) Write the name of the ledger account in the ledger account column.
(iii) Write against the name of the ledger account:
– Ledger A/Cs which shows a debit balance is put on the Debit side of the trial balance.
– The A/c’s Showing credit balance are put on the Credit side of the Trial Balance.
– Accounts which show no balance i.e. whose Debit and Credit totals are equal are not
entered in Trial Balance.
(iv) Add the debit balance/total amount column and credit balance/total
amount column.
- If they are equal it is assumed that there are no arithmetical error
in the posting and balancing of Ledger A/cs.
22. Objectives or Functions of Trial Balance
• It helps in ascertaining the arithmetical
accuracy of ledger accounts.
• Helps in locating errors.
• Provides the summary of Ledger A/c’s.
• Helps in the preparation of Final A/c’s.
23. CAUSES FOR THE DISAGREEMENT OF A TRIAL BALANCE
• Omission of posting in one account.
• Double posting in one account.
• Posting in the wrong side of an account.
• Posting wrong amount in an account.
• Omitting to post the total of a subsidiary book.
• Wrong totaling or balancing of an account.
• Omission of an account from Trial Balance.
• Writing the balance of an account in the wrong column of the Trial Balance.
• Wrong totaling of the Trial Balance
25. LIMITATIONS OF A TRIAL BALANCE
i)As there are certain errors which are not disclosed by a trial balance.
Therefore again it can be said that the agreement of a trial balance
is not a conclusive proof of the accuracy of accounts.
ii)A trial balance gives only condensed information of each account.
iii)It does not give the information about the profit or loss made by the
business in the accounting period.
iv)If trial balance is not prepared accurately, the final accounts
prepared from such a trial balance would not be reliable.
v)It does not ensure that all the transactions have been actually
recorded in the subsidiary books.
vi)It is prepared only by those enterprises which make use of double
entry system.
26. Illustration 2
On 1st January, 2006, the following were the ledger balances of Rajan & Co.: Cash
in hand Rs. 900; Cash at bank Rs. 21,000; Soni (Cr.) Rs. 3,000; Zahir (Dr.) Rs. 2,400;
Stock Rs. 12,000; Prasad (Cr.) Rs. 6,000; Sharma (Dr.) Rs. 4,500; Lall (Cr.) Rs. 2,700;
Ascertain capital. Transactions during the month were:
Journalize the above transactions and post to the Ledger and prepare a Trial
Balance.