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1. Introduction of Accounting, Concept, convention and Principles

2. Meaning & Definition of Accountancy
Accountancy includes Book keeping & classifying, summarizing and
interpreting of the business transactions.
According to Kohler :
“ Accountancy refers to the entire body of theory and process of
accounting.”
According to Robert N. Anthony:
“ Nearly every business enterprise has an accounting system. It is
a means of collecting, summarizing, analyzing and reportingin
monetary terms information about the business transactions,”

3. Branches of Accounting
FinancialAccounting CostAccounting ManagementAccounting
 Journal
 Ledger
 Trial balance
 Final accounts
 Cost Sheet
 Job & Contract
 Process Costing
 Operating Costing
 Ratio analysis
 Break even point
 Standard Costing
 Analysis of financial S

4. Basic accounting Terminologies
 Business Transaction
 Entry & Narration
 Goods
 Profit & Loss
 Assets, Liabilities & Net worth
 Capital & Drawing
 Expenditure and types of expenditure
 Discount
 Good will
 Bad debts
 Debtors and creditors
 Solvent & Insolvent
 Accounting Year
 Folio, Insurance, Freight Deposit

5. Business Transaction
Any dealing of business that involves buying and selling of goodsand
services in exchange of value be called as businesstransaction.
 Cash Transaction
 Credit Transactions

6. Entry, Narration & Goods
Entry : Recording of transaction in the proper form or method in the books
of accounts is called an entry. It is a first record of any business transaction
in the books of accounts
Narration :Abrief explanation of the business transaction for which an
entry is passed is called as a narration. It starts with a word ‘Being’(….)
Goods: The commodities or articles in which the trader deals are called as
goods for that business

7. Profit & Loss
Profit : Excess of income over the expenses during the accounting yearis
called a profit
Ex:…..
Loss : Excess of expenses over the income is called loss
Ex:…..

8. Assets, Liabilities & Net worth
Assets : Property of any kind owned by a businessman is called an asset,
Ex……
Liabilities : Total amount payable by the business to others is known as
liability
Ex…..
Net Worth or owned equity : The amount of fund provided bythe
proprietor in the business is called as net worth or capital also

9. Types of Assets
• Assets: Any item of economic value owned by an individual
or corporation, especially that which could be converted to cash.
Examples :
Cash, securities, accounts receivable, inventory, office equipment, real
estate, a car, and other property.
Type of assets:
1) Fixed assets
2) Current assets

10. Classifications of Account

13. Analysis of Transactions

14. Accounting concepts
1) Business entity
2) Money measurement
3) Cost concept
4) Consistency concept
5) Conservatism
6) Going concern
7) Realization
8) Accrual
9) Dual aspect
10) Disclosure
11) Materiality
12) Revenue recognition principle
13) Marching principle
14) Accounting standards

15. For more presentation contact….
Prof. sachin jadhav,
Assistant professor