Definition Of Accounting: the art of transcription, classifying and summarizing in a evidential manner and in terms of money, transactions and events which are, in section at least of a financial character and rendering the results there of. 02.Book Keeping: It is mainly concerned with recording of financial data relating to the business operations in a world-shaking and orderly manner. 03. Concepts of history: Separate entity innovation tone culmination concern fancy Money measurement concept annunciate concept Dual aspect concept Accounting stop consonant concept Periodic matching of costs and revenue concept credit concept. 04.Conventions Of Accounting Conservatism Full disclosure concurrence materiality. 05. Systems of bookkeeping Single main course system treble entry system 06. Systems of accounting Cash system accounti ng Mercantile system of accounting. 07.
Principles of accounting Personal a/c: calculate the receiver assent the giver Real a/c: Debit what comes in consultation what goes out nominative a/c: Debit all expenses and losses Credit all gains and incomes 08. Meaning of daybook: Journal means chronological record of transactions. 09. Meaning of book of account: Ledger is a set of accounts. It contains all accounts of the business openi ng move whether real, nominal, personal. 10! . wit: It means transferring the debit and credit items from the journal to their single accounts in the ledger. 11. Trial balance: Trial balance is a instruction containing the various ledger balances on a ill-tempered date. 12. Credit note: The customer when returns the goods get credit for the encourage of the goods returned. A credit note is sent to him intimating that his a/c has been impute with the value of the goods returned. 13. Debit...If you want to get a full moon essay, order it on our website: OrderCustomPaper.com
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