BASIC ACCOUNTING FOR ALL INCLUDING MANAGERS. ACCOUNTING, DOUBLE ENTRY SYSTEM, JOURNEL (defination,advantages/limitations, how to make,) TRAIL BALANCE(defination,limitations/advantages, steps}
BASIC ACCOUNTING FOR ALL INCLUDING MANAGERS. ACCOUNTING, DOUBLE ENTRY SYSTEM, JOURNEL (defination,advantages/limitations, how to make,) TRAIL BALANCE(defination,limitations/advantages, steps}
This powerpoint presentation is created by Gyanbikash.com for the students of class nine to ten from their accounting NCTB textbook for multimedia class.
This document briefly describes each and every stage of accounting cycle with appropriate rules. rules followed are based on type of account.it also includes the proforma of journal,ledger,trail balance, final account statements.
Basics of Accounting. Principles and concepts of Accounting
what is Double Entry System of Accounting?what Financial Statements?
Accounting is a process of identifying, recording, summarising and reporting economic information
to decision makers in the form of financial statements.
Accounting is the information system that identifies records and com.pdfakashitproduct
Accounting is the information system that identifies records and communicates the economic
events of an organization to interested users. True False
Bookkeeping deals with the record-keeping process and is only one aspect of accounting.
True False
Internal users are those who manage the business. True False
The Financial Accounting Standards Board is a private organization that establishes broad
reporting guidelines of general applicability as well as specific accounting rules.
True False
Certified Public Accountants are only permitted to prepare audit reports and tax returns.
True False
The economic entity assumption requires that the activities of the entity be kept separate and
distinct from the activities of its owners and all other economic entities. True False
Collection of account receivable will increase both cash and accounts receivable.
True False
An expense paid with cash would result in an equal decrease in liabilities and owner’s equity.
True False
Liabilities represent the owner ship claim on total assets. True False
Net Income is the excess of revenues over expenses for the accounting period. True
False
Assets are increased by debits and liabilities are decreased by credits. True False
The owner’s capital account is increased by credits True False
An account will have a credit balance if the total debit amounts exceed the total credit amounts.
True False
The ledger is the entire group of accounts and is referred to as the book of original entry.
True False
The basic steps in the recording process are (1) to analyze each transaction, (2) to enter the
transaction in a journal, and (3) to transfer the journal entry to the appropriate ledger accounts.
True False
The procedure of transferring journal entries to the ledger accounts is called posting and should
be performed in chronological order. True False
Assets = Liabilities + owner’s capital - owner’s drawing + revenues – expenses is a correct form
of the expanded basic accounting equation. True False
In posting, one should enter “J2” in the post ref. column on page two of the journal.
True False
When the columns of the trial balance equal each other, it proves no errors occurred in recording
and posting. True False
The double entry system is possible because all business transactions may be expressed in equal
debit and credit entries. True False
All of the following are external users of accounting information except
labor unions
taxing authorities
regulatory agencies
company officers
Recording consists of:
identifying and measuring economic events
preparing and disturbing accounting reports
Keeping a systematic, chronological diary of events measured in dollars and cents.
Identifying measuring, receiving, and communicating economic events to interested users.
Accounting for government, foundations, hospitals, labor unions, colleges/universities, and
charities is part of which broad category within the accounting profession?
Not-for-profit accounting
Management accounting
Public.
This powerpoint presentation is created by Gyanbikash.com for the students of class nine to ten from their accounting NCTB textbook for multimedia class.
This document briefly describes each and every stage of accounting cycle with appropriate rules. rules followed are based on type of account.it also includes the proforma of journal,ledger,trail balance, final account statements.
Basics of Accounting. Principles and concepts of Accounting
what is Double Entry System of Accounting?what Financial Statements?
Accounting is a process of identifying, recording, summarising and reporting economic information
to decision makers in the form of financial statements.
Accounting is the information system that identifies records and com.pdfakashitproduct
Accounting is the information system that identifies records and communicates the economic
events of an organization to interested users. True False
Bookkeeping deals with the record-keeping process and is only one aspect of accounting.
True False
Internal users are those who manage the business. True False
The Financial Accounting Standards Board is a private organization that establishes broad
reporting guidelines of general applicability as well as specific accounting rules.
True False
Certified Public Accountants are only permitted to prepare audit reports and tax returns.
True False
The economic entity assumption requires that the activities of the entity be kept separate and
distinct from the activities of its owners and all other economic entities. True False
Collection of account receivable will increase both cash and accounts receivable.
True False
An expense paid with cash would result in an equal decrease in liabilities and owner’s equity.
True False
Liabilities represent the owner ship claim on total assets. True False
Net Income is the excess of revenues over expenses for the accounting period. True
False
Assets are increased by debits and liabilities are decreased by credits. True False
The owner’s capital account is increased by credits True False
An account will have a credit balance if the total debit amounts exceed the total credit amounts.
True False
The ledger is the entire group of accounts and is referred to as the book of original entry.
True False
The basic steps in the recording process are (1) to analyze each transaction, (2) to enter the
transaction in a journal, and (3) to transfer the journal entry to the appropriate ledger accounts.
True False
The procedure of transferring journal entries to the ledger accounts is called posting and should
be performed in chronological order. True False
Assets = Liabilities + owner’s capital - owner’s drawing + revenues – expenses is a correct form
of the expanded basic accounting equation. True False
In posting, one should enter “J2” in the post ref. column on page two of the journal.
True False
When the columns of the trial balance equal each other, it proves no errors occurred in recording
and posting. True False
The double entry system is possible because all business transactions may be expressed in equal
debit and credit entries. True False
All of the following are external users of accounting information except
labor unions
taxing authorities
regulatory agencies
company officers
Recording consists of:
identifying and measuring economic events
preparing and disturbing accounting reports
Keeping a systematic, chronological diary of events measured in dollars and cents.
Identifying measuring, receiving, and communicating economic events to interested users.
Accounting for government, foundations, hospitals, labor unions, colleges/universities, and
charities is part of which broad category within the accounting profession?
Not-for-profit accounting
Management accounting
Public.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
2. ⦿The ledger is the principal book of
accounting system. It contains
different accounts where
transactions relating to that
account are recorded .A ledger is
the collection of all the accounts
,debited or credited ,in the journal
proper and various special journal.
3. ⦿A ledger is very useful and is of
utmost importance in the
organization. The net result of all
transactions in respect of a
particular account on a given date
can ascertained only from the
ledger
4. ⦿Name of the account
Dr Cr
date particulars J.F Amount date particulars J.F amount
5. ⦿Title of the account : The name of the item
is written at the top of the format as the
title of the account .the title of the account
ends with suffix account
⦿Dr :Dr means debit side of the account that
is left side and Cr means credit side of the
account
⦿Particulars :Name of the item with
reference to the original book of entry is
written on debit/credit side of the account
6. ⦿Journal folio : It records the page number
of the original book of entry on which
relevant transaction is recorded .this
column is filled up at the time of posting
⦿Amount :This column records the amount
in numerical figure, corresponding to what
has been entered in the amount column of
the original book of entry
7. ⦿The journal is the book of first entry ;The
ledger is the book of second entry
⦿The journal is the book for chronological
record ;The ledger is the book for analytical
record
⦿The journal. as a book of source entry ,gets
greater importance as legal evidence than the
ledger
8. ⦿Transaction is the basis of classification of
data within the journal ; account is the
basis classification of data within the
ledger
⦿Process of recording in the journal is called
journalising ; the process of recording in
the ledger is known as posting
9. ⦿Ledger accounts are classified in to five
categories namely assets, liabilities,
capital, revenues/ gains, and expense
losses. All these accounts may further be
put in to two groups, i.e. permanent
accounts and temporary accounts .All
permanent accounts are balanced and
carried forward to the next accounting
period .
10. ⦿The temporary accounts are closed at the
end of the accounting period by
transferring them to the trading and profit
and loss account. All permanent accounts
appears in the balance sheet.
