Tiêu đề Book-I...11th.pdf ✅

P a g e | 1 SCOREAD ACADEMY: #MEETHAPUR# #JAITPUR# #SURYA VIHAR# #M@nish: 97-1666-41-56# I N D E X S.NO. DATE CHAPTER PAGE NO. No of Qns. 1 INTRODUCTION TO ACCOUNTING 2 2 BASIC TERMS IN ACCOUNTING 10 3 THEORY BASE OF ACCOUNTING 16 4 BASES OF ACCOUNTING 22 5 ACCOUNTING EQUATION 24 6 RULES OF DEBIT AND CREDIT 34 7 SOURCE DOCUMENTS AND PREPARATION OF VOUCHERS 39 8 JOURNAL (INCLUDING GST) 45 9 LEDGER 62 10 CASH BOOK 67 11 SUBSIDIARY BOOKS/OTHER BOOKS 85 12 BANK RECONCILIATION STATEMENT 100 13 TRIAL BALANCE 116 14 DEPRECIATION 123 15 PROVISION AND RESERVE 132 16 RECTIFICATION OF ERRORS 136 17 FINANCIAL STATEMENTS (A) 146 18 FINANCIAL STATEMENTS (B) 161 19 SINGLE ENTRY SYSTEM 190
P a g e | 2 SCOREAD ACADEMY: #MEETHAPUR# #JAITPUR# #SURYA VIHAR# #M@nish: 97-1666-41-56# CHAPTER - 1 INTRODUCTION TO ACCOUNTING MEANING OF ACCOUNTING Accounting can be defined: ➢ as the process of identifying, measuring, recording and communicating the required information relating to the economic events of an organisation to the interested users of such information. ➢ Following are the relevant aspect of Accounting: ✓ Economic Events ✓ Identification, Measurement, Recording and Communication ✓ Organisation ✓ Interested Users of Information ❖ Economic Events:  Business organisations involve economic events.  An economic event is known as a happening of consequence to a business organisation which consists of transactions and which are measurable in monetary terms.  For example, purchase of machinery, installing and keeping it ready for manufacturing is an event which comprises number of financial transactions such as buying a machine, transportation of machine, site preparation for installation of a machine, expenditure incurred on its installation and trial runs.  Thus, accounting identifies bunch of transactions relating to an economic event. NOTE: Economic events are of two types, EXTERNAL ECONOMIC EVENTS and INTERNAL ECONOMIC EVENTS. External Economic Event involves transactions between an outsider and an organisation, these are known as external events, such as sale of goods to customers, purchase of material from supplier etc. Internal economic events occurs entirely between the internal wings of an enterprise, such as supply of raw material or components by the store department to the manufacturing department, payment of wages etc. Yahan Dekho
P a g e | 3 SCOREAD ACADEMY: #MEETHAPUR# #JAITPUR# #SURYA VIHAR# #M@nish: 97-1666-41-56# Identification, Measurement, Recording and Communication: Identification- It means determining what transactions to record, i.e., to identity events which are to be recorded. Measurement- It means quantification (including estimates) of business transactions into financial terms by using monetary unit, viz. rupees and paise as a measuring unit. Recording- Once the economic events are identified and measured in financial terms, these are recorded in books of account in monetary terms and in a chronological order. Communication- The economic events are identified, measured and recorded in order that the pertinent information is generated and communicated in a certain form to management and other internal and external users. The information is regularly communicated through accounting reports. Organisation: Organisation refers to a business enterprise, whether for profit or not-for profit motive. It can be sole proprietorship, partnership firm, cooperative society, company, local authority, municipal corporation or any other association of persons. INTERESTED USERS OF ACCOUNTING There are two users of Accounting: 1. Internal Users: Internal users are those individuals or groups who are within the organisation like owners, management, employees and trade unions. Internal Users Need for Information Owners To know the profitability and financial soundness of the business Management To take prompt decisions to manage the business efficiently Employees and Trade unions To form judgment about the earning capacity of the business since their Remuneration and Bonus depend on it. 2. External Users: External users are those individuals or groups who are outside the organisation like creditors, investors, banks and other lending institutions, present and potential investors, Government, tax authorities, regulatory agencies and researchers.