2 July Accounting Ii
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ACCOUNTING (FUNDAMENTALS) Dr. T.K. Jain. AFTERSCHOOOL Centre for social entrepreneurship Bikaner M: 9414430763 [email protected] www.afterschool.tk www.afterschoool.tk
HOW MANY ACCOUNTING STANDARDS HAVE BEEN ISSUED BY ICAI?
29
www.afterschoool.tk
AS -1?
ACCOUNTING POLICIES
www.afterschoool.tk
AS -2?
VALUEATION OF INVENTORIES.
www.afterschoool.tk
AS -3
CASH FLOW STATEMENT
www.afterschoool.tk
AS – 4
EVENTS OCCURING AFTER BALANCE SHEET DATE
www.afterschoool.tk
AS – 5?
NET PROFIT OR LOSS AND CHANGES IN ACCOUNTING POLICIES
www.afterschoool.tk
AS - 6
DEPRECIATION
www.afterschoool.tk
AS – 7
ACCOUNTING OF CONSTRUCTION CONTRACTS.
www.afterschoool.tk
AS – 8?
R & D (RESEARCH AND DEVELOPMENT) (THIS STANDARD HAS BEEN WITHDRAWN IN 2003).
www.afterschoool.tk
AS – 9 ?
REVENUE RECOGNITION
www.afterschoool.tk
AS – 10?
ACCOUNTING OF FIXED ASSETS.
www.afterschoool.tk
AS -11?
EFFECTS OF CHANGES IN FOREIGN EXCHANGE RATES.
www.afterschoool.tk
AS -12?
ACCOUNTING FOR GOVERNMENT GRANTS
www.afterschoool.tk
AS -13?
ACCOUNTING FOR INVESTMENT
www.afterschoool.tk
AS -14?
ACCOUNTING FOR AMALGAMATION
www.afterschoool.tk
AS – 15?
EMPLOYEE BENEFITS INCLUDING VRS ETC.
www.afterschoool.tk
AS – 16?
BORROWING COSTS INCLUDING LOANS ETC.
www.afterschoool.tk
AS – 17?
SEGMENT REPORTING (WHEN AN MNC / LARGE COMPANY HAS MANY BRANCHES OR WANT TO REPORT ACCOUNTING OF DIFFERENT SEGMENTS – IT IS USEFUL).
www.afterschoool.tk
AS – 18?
RELATED PARTY DISCLOSURE
www.afterschoool.tk
AS – 19?
LEASE – AND ACCOUNTING OF LEASE - BOTH FINANCIAL AND OPERATING LEASE.
www.afterschoool.tk
AS – 20 ?
EARNING PER SHARE
www.afterschoool.tk
AS 21 ?
CONSOLIDATED FINANCIAL STATEMENT
www.afterschoool.tk
AS 22?
ACCOUNTING FOR TAXATION
www.afterschoool.tk
AS – 23?
INVESTMENTS IN ASSOCIATES IN CONSOLIDATED FINANCIAL STATEMENTS.
www.afterschoool.tk
AS 24?
DISCONTINUING OPERATIONS
www.afterschoool.tk
AS 25?
INTERIM FINANCIAL STATEMENT.
www.afterschoool.tk
AS 26?
ACCOUNTING OF INTELLECTUAL PROPERTY RIGHTS, INTENGIBLE ASSETS, ETC.
www.afterschoool.tk
AS 27?
JOINT VENTURES
www.afterschoool.tk
AS 28 ?
IMPAIRMENT OF ASSETS
www.afterschoool.tk
AS 29?
PROVISIONS, CONTINGENCIES AND CONTINGENT ASSETS.
www.afterschoool.tk
3 FUNDAMENTALS WHILE SELECTING ACCOUNTING POLICIES?
PRUDENCE SUBSTANCE OVER FORM MATERIALITY
www.afterschoool.tk
WHEN CAN YOU CHANGE ACOUNTING POLICIES? 1.
2.
WHEN IT IS REQUIRED BY THE LAW OF THE LAND CHANGE WOULD RESULT IN BETTER PRESENTATION OF ACCOUNTING AND FINANCIAL STATEMENTS.
www.afterschoool.tk
WHAT IS MEASUREMENT? ASSIGNING OF NUMBERS TO OBJECTS OR EVENTS IS CALLED MEASUREMENT. IT HAS 3 ELEMENTS: 2. IDENTIFICATION OF OBJECT 3. STANDARD TO USE 4. EVALUATION OF DIMENSION OF OBJECT ON STANDARDS. www.afterschoool.tk
WHAT ARE PRINCIPLES OF MEASUREMENT? 1. 2. 3. 4.
HISTORICAL COST CURRENT COST REALISATION VALUE PRESENT VALUE
www.afterschoool.tk
IF I SELL MY CAR TODAY, I GET RS. 400000 FROM IT. WHAT AM I TALKING ?
REALISATION VALUE
www.afterschoool.tk
IF I PURCHASE A TAXI, IT WILL GIVE ME EARNING OF RS. 1 LAKH EVERY YEAR FOR NEXT 10 YEARS. WHAT AM I TALKING ABOUT?
PRESENT VALUE (HERE WE WILL TAKE PRESENT VALUE OF FUTURE EARNINGS).
www.afterschoool.tk
I SHALL GET RETURNS OF RS. 5000, 40000 AND 100000 IN NEXT 3 YEARS. DISCOUNT RATE IS 10% WHAT IS PRESENT VALUE?
5000/ (1+.1)^1 + 40000/ (1+.1)^2 + 100000 / (1+.1)^3 = 4545+33057+ 75131 =112733 APPROX.
www.afterschoool.tk
MENTION ANY 3 BOOKS OF ORIGINAL ENTRY?
PURCHASE DAY BOOK SALES DAY BOOK CASH BOOK PURCHASE RETURN DAY BOOK ETC.
www.afterschoool.tk
GIVE 2 EXAMPLES OF SOURCE DOCUMENTS IN ACCOUNTING?
INVOICE VOUCHER
www.afterschoool.tk
WHICH ARE THE IMPERSONAL ACCOUNTS?
REAL ACCOUNTS NOMINAL ACCOUNTS
www.afterschoool.tk
WHICH ARE THE PERSONAL ACCOUNTS?
ARTICIFICIAL REPRESENTATIVE NATURAL (PERSONAL)
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS DRAWING ACCOUNT?
REPRESENTATIVE PERSONAL ACCOUNT
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS GOVERNMENT ACCOUNT?
ARTIFICIAL (LEGAL) ACCOUNT
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS MACHINERY ACCOUNT?
REAL IMPERSONAL ACCOUNT
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS DEBTOR’S ACCOUNT?
NATURAL PERSONAL ACCOUNT
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS SALES ACCOUNT?
NOMINAL ACCOUNT (REVENUE)
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS PURCHASE ACCOUNT?
REAL
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS ADJUSTED PURCHASE ACCOUNT?
NOMINAL
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS INVESTMENT ACCOUNT?
REAL
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS RENT ACCOUNT?
NOMINAL
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS BANK DEPOSIT ACCOUNT?
PERSONAL
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS PROVISION FOR DEPRECIATION ACCOUNT?
REAL (VALUATION ACCOUNT)
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS PROVISION FOR BAD DEBT ACCOUNT?
VALUATION ACCOUNT – PERSONAL
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS BAD DEBT RECOVERD ACCOUNT?
NOMINAL (GAIN)
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS PRE PAID SALARY ACCOUNT?
PERSONAL
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS RENT RECEIVED IN ADVANCE ACCOUNT?
PERSONAL
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS DRAWING ACCOUNT?
PERSONAL
www.afterschoool.tk
EMPLOYEES TOOK GOODS WORTH 1000 AND AMOUNT WAS DEDUCTED FROM SALARY, WHAT WILL BE ENTRY?
SALARY A/C DEBIT TO PURCHASE ACCOUNT CREDIT
www.afterschoool.tk
WAGES PAID RS. 1000. WORKERS WORKED ON INSTALLATION OF NEW MACHINE
ACCOUNTING ENTRY: MACHINERY ACCOUNT DEBIT TO CASH (OR BANK) CREDIT
www.afterschoool.tk
WHICH ACCCOUNTS ARE BALANCED?
REAL ACCOUNT AND PERSONAL ACCOUNTS (THEIR BALANCE IS SHOWN IN BALANCE SHEET – SO THEY ARE BALANCED) NOMINAL ACCOUNTS ARE NOT BALANCED – THEIR BALANCE IS TRANSFERRED TO P & L ACCOUNT. www.afterschoool.tk
PROCESS OF TRANSFERRING ENTRY FROM JOURNAL TO LEDGER IS ?
POSTING
www.afterschoool.tk
LEDGER BOOK IS ALSO KNOWN AS?
PRINCIPAL BOOK OF ACCOUNTS
www.afterschoool.tk
WRITE 3 METHODS OF PREPARING TRIAL BALANCE?
TOTAL METHOD BALANCE METHOD TOTAL AND BALANCE METHOD
www.afterschoool.tk
MENTION 3 SUBSIDIARY BOOKS?
PURCHASE BOOK SALES BOOK SALES RETURN BOOK BILLS PAYABLE BOOK JOURNAL PROPER BILLS RECEIVABLE BOOK PURCHASE RETURN BOOK www.afterschoool.tk
MENTION 4 TYPES OF CASH BOOKS?
SIMPLE CASH BOOK PETTY CASH BOOK CASH BOOK WITH DISCOUNT COLUMN CASH BOOK WITH BANK AND DISCOUNT COLUMN
www.afterschoool.tk
WHAT IS USE OF SUBSIDIARY BOOK?
EFFICIENCY, SPEED, SPECIALISATION AVAILABILITY OF INFORMATION FACILITY IN CHECKING DIVISION OF WORK
www.afterschoool.tk
PREPARE : PURCHASE BOOK OR PURCHASE RETURN BOOK?
PURCHASE RETURN BOOK
www.afterschoool.tk
WE PURCHASED A CAR, WHERE WILL ENTRY GO : PURCHASE BOOK / JOURNAL PROPER
JOURNAL PROPER
www.afterschoool.tk
STATIONERY ITEMS : PURCHASE / JOURNAL PROPER
JOURNAL PROPER
www.afterschoool.tk
CREDIT PURCHASE OF STATIONERY ITEMS BY STATIONERY DEALER: PURCHASE / JOURNAL PROPER
PURCHASE
www.afterschoool.tk
TOTAL OF PURCHASE DAY BOOK IS TRANSFERRED TO ?
PURCHASE ACCOUNT (DEBIT SIDE).
www.afterschoool.tk
SALES BOOK IS A PART OF JOURNAL / LEDGER?
JOURNAL
www.afterschoool.tk
TOTAL OF SALES BOOK IS POSTED IN ?
SALES ACCOUNT (CREDIT SIDE).
www.afterschoool.tk
ABOUT AFTERSCHOOOL Afterschoool conducts three year integrated PGPSE (after class 12th along with IAS / CA / CS) and 18 month PGPSE (Post Graduate Programme in Social Entrepreneurship) along with preparation for CS / CFP / CFA /CMA / FRM. This course is also available online also. It also conducts workshops on social entrepreneurship in schools and colleges all over India – start social entrepreneurship club in your institution today with the help from afterschoool and help us in developing society. www.afterschoool.tk
Why such a programme?
To promote people to take up entrepreneurship and help develop the society To enable people to take up franchising and other such options to start a business / social development project To enable people to take up social development as their mission To enable people to promote spirituality and positive thinking in the world www.afterschoool.tk
Who are our supporters?
Afterschoolians, our past beneficiaries, entrepreneurs and social entrepreneurs are supporting us. You can also support us – not necessarily by money – but by being promotor of our concept and our ideas. www.afterschoool.tk
About AFTERSCHOOOL PGPSE – the best programme for developing great entrepreneurs
Most flexible, adaptive but rigorous programme Available in distance learning mode Case study focused- latest cases Industry oriented practical curriculum Designed to make you entrepreneurs – not just an employee Option to take up part time job – so earn while you learn www.afterschoool.tk The only absolutely free course on
Workshops from AFTERSCHOOOL
IIF, Delhi CIPS, Jaipur ICSI Hyderabad Branch Gyan Vihar, Jaipur Apex Institute of Management, Jaipur Aravali Institute of Management, Jodhpur Xavier Institute of Management, Bhubaneshwar Pacific Institute, Udaipur Engineering College, Hyderabad www.afterschoool.tk
Flexible Specialisations:
Spiritualising business and society Rural development and transformation HRD and Education, Social Development NGO and voluntary work Investment analysis,microfinance and inclusion Retail sector, BPO, KPO Accounting & Information system (with CA / CS /CMA) Hospital management and Health care Hospitality sector and culture and heritage Other sectors of high growth, high technology and social relevance www.afterschoool.tk
Salient features:
The only programme of its kind (in the whole world) No publicity and low profile course For those who want to achieve success in life – not just a degree Indepth knowledge and expertise Professional approac: World class approach Strong intellectual and business capabilities Flexible – you may stay for a month and continue the rest of the education by distance mode. / you may attend weekend classes Scholarships for those from poor economic background Latest and constantly changing curriculum – keeping pace with the time Placement for those who are interested Admissions open throughout the year Latest and most advanced technologies, books and www.afterschoool.tk study material
Components
Pedagogy curriculum and approach based on IIM Ahmedabad and ISB Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad) Meditation, spiritualisation, and self development Essential softwares for business Business plan, Research projects Participation in conferences / seminars Workshops on leadership, team building etc. Written submissions of research projects/articles / papers Interview of entrepreneurs, writing biographies of entrepreneurs Editing of journals / newsletters Consultancy / research projects Assignments, communication skill workshops Participation in conferences and seminars Group discussions, mock interviews, self development diaryng Mind Power Training & writing workshop (by Dr. T.K.Jain)
www.afterschoool.tk
Pedagogy
Case analysis, Articles from Harvard Business Review Quiz, seminars, workshops, games, Visits to entrepreneurs and industrial visits Presentations, Latest audio-visuals Group discussions and group projects Periodic self assessment Mentoring and counselling Study exchange programme (with institutions out of India) Rural development / Social welfare projects www.afterschoool.tk
Branches
AFTERSCHOOOL will shortly open its branches in important cities in India including Delhi, Kota, Mumbai, Gurgaon and other important cities. Afterschooolians will be responsible for managing and developing these branches – and for promoting social entrepreneurs. www.afterschoool.tk
Case Studies
We want to write case studies on social entrepreneurs, first generation entrepreneurs, ethical entrepreneurs. Please help us in this process. Help us to be in touch with entrepreneurs, so that we may develop entrepreneurs. www.afterschoool.tk
Basic values at afterschoool
Share to learn more Interact to develop yourself Fear is your worst enemy Make mistakes to learn Study & discuss in a group Criticism is the healthy route to mutual support and help Ask fundamental questions : why, when, how & where? Embrace change – and compete with yourself only www.afterschoool.tk
www.afterschoool.tk social entrepreneurship for better society
www.afterschoool.tk
HOW MANY ACCOUNTING STANDARDS HAVE BEEN ISSUED BY ICAI?
29
www.afterschoool.tk
AS -1?
ACCOUNTING POLICIES
www.afterschoool.tk
AS -2?
VALUEATION OF INVENTORIES.
www.afterschoool.tk
AS -3
CASH FLOW STATEMENT
www.afterschoool.tk
AS – 4
EVENTS OCCURING AFTER BALANCE SHEET DATE
www.afterschoool.tk
AS – 5?
NET PROFIT OR LOSS AND CHANGES IN ACCOUNTING POLICIES
www.afterschoool.tk
AS - 6
DEPRECIATION
www.afterschoool.tk
AS – 7
ACCOUNTING OF CONSTRUCTION CONTRACTS.
www.afterschoool.tk
AS – 8?
R & D (RESEARCH AND DEVELOPMENT) (THIS STANDARD HAS BEEN WITHDRAWN IN 2003).
www.afterschoool.tk
AS – 9 ?
REVENUE RECOGNITION
www.afterschoool.tk
AS – 10?
ACCOUNTING OF FIXED ASSETS.
www.afterschoool.tk
AS -11?
EFFECTS OF CHANGES IN FOREIGN EXCHANGE RATES.
www.afterschoool.tk
AS -12?
ACCOUNTING FOR GOVERNMENT GRANTS
www.afterschoool.tk
AS -13?
ACCOUNTING FOR INVESTMENT
www.afterschoool.tk
AS -14?
ACCOUNTING FOR AMALGAMATION
www.afterschoool.tk
AS – 15?
EMPLOYEE BENEFITS INCLUDING VRS ETC.
www.afterschoool.tk
AS – 16?
BORROWING COSTS INCLUDING LOANS ETC.
www.afterschoool.tk
AS – 17?
SEGMENT REPORTING (WHEN AN MNC / LARGE COMPANY HAS MANY BRANCHES OR WANT TO REPORT ACCOUNTING OF DIFFERENT SEGMENTS – IT IS USEFUL).
www.afterschoool.tk
AS – 18?
RELATED PARTY DISCLOSURE
www.afterschoool.tk
AS – 19?
LEASE – AND ACCOUNTING OF LEASE - BOTH FINANCIAL AND OPERATING LEASE.
www.afterschoool.tk
AS – 20 ?
EARNING PER SHARE
www.afterschoool.tk
AS 21 ?
CONSOLIDATED FINANCIAL STATEMENT
www.afterschoool.tk
AS 22?
ACCOUNTING FOR TAXATION
www.afterschoool.tk
AS – 23?
INVESTMENTS IN ASSOCIATES IN CONSOLIDATED FINANCIAL STATEMENTS.
www.afterschoool.tk
AS 24?
DISCONTINUING OPERATIONS
www.afterschoool.tk
AS 25?
INTERIM FINANCIAL STATEMENT.
www.afterschoool.tk
AS 26?
ACCOUNTING OF INTELLECTUAL PROPERTY RIGHTS, INTENGIBLE ASSETS, ETC.
www.afterschoool.tk
AS 27?
JOINT VENTURES
www.afterschoool.tk
AS 28 ?
IMPAIRMENT OF ASSETS
www.afterschoool.tk
AS 29?
PROVISIONS, CONTINGENCIES AND CONTINGENT ASSETS.
www.afterschoool.tk
3 FUNDAMENTALS WHILE SELECTING ACCOUNTING POLICIES?
PRUDENCE SUBSTANCE OVER FORM MATERIALITY
www.afterschoool.tk
WHEN CAN YOU CHANGE ACOUNTING POLICIES? 1.
2.
WHEN IT IS REQUIRED BY THE LAW OF THE LAND CHANGE WOULD RESULT IN BETTER PRESENTATION OF ACCOUNTING AND FINANCIAL STATEMENTS.
www.afterschoool.tk
WHAT IS MEASUREMENT? ASSIGNING OF NUMBERS TO OBJECTS OR EVENTS IS CALLED MEASUREMENT. IT HAS 3 ELEMENTS: 2. IDENTIFICATION OF OBJECT 3. STANDARD TO USE 4. EVALUATION OF DIMENSION OF OBJECT ON STANDARDS. www.afterschoool.tk
WHAT ARE PRINCIPLES OF MEASUREMENT? 1. 2. 3. 4.
HISTORICAL COST CURRENT COST REALISATION VALUE PRESENT VALUE
www.afterschoool.tk
IF I SELL MY CAR TODAY, I GET RS. 400000 FROM IT. WHAT AM I TALKING ?
REALISATION VALUE
www.afterschoool.tk
IF I PURCHASE A TAXI, IT WILL GIVE ME EARNING OF RS. 1 LAKH EVERY YEAR FOR NEXT 10 YEARS. WHAT AM I TALKING ABOUT?
PRESENT VALUE (HERE WE WILL TAKE PRESENT VALUE OF FUTURE EARNINGS).
www.afterschoool.tk
I SHALL GET RETURNS OF RS. 5000, 40000 AND 100000 IN NEXT 3 YEARS. DISCOUNT RATE IS 10% WHAT IS PRESENT VALUE?
5000/ (1+.1)^1 + 40000/ (1+.1)^2 + 100000 / (1+.1)^3 = 4545+33057+ 75131 =112733 APPROX.
www.afterschoool.tk
MENTION ANY 3 BOOKS OF ORIGINAL ENTRY?
PURCHASE DAY BOOK SALES DAY BOOK CASH BOOK PURCHASE RETURN DAY BOOK ETC.
www.afterschoool.tk
GIVE 2 EXAMPLES OF SOURCE DOCUMENTS IN ACCOUNTING?
INVOICE VOUCHER
www.afterschoool.tk
WHICH ARE THE IMPERSONAL ACCOUNTS?
REAL ACCOUNTS NOMINAL ACCOUNTS
www.afterschoool.tk
WHICH ARE THE PERSONAL ACCOUNTS?
ARTICIFICIAL REPRESENTATIVE NATURAL (PERSONAL)
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS DRAWING ACCOUNT?
REPRESENTATIVE PERSONAL ACCOUNT
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS GOVERNMENT ACCOUNT?
ARTIFICIAL (LEGAL) ACCOUNT
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS MACHINERY ACCOUNT?
REAL IMPERSONAL ACCOUNT
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS DEBTOR’S ACCOUNT?
NATURAL PERSONAL ACCOUNT
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS SALES ACCOUNT?
NOMINAL ACCOUNT (REVENUE)
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS PURCHASE ACCOUNT?
REAL
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS ADJUSTED PURCHASE ACCOUNT?
NOMINAL
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS INVESTMENT ACCOUNT?
REAL
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS RENT ACCOUNT?
NOMINAL
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS BANK DEPOSIT ACCOUNT?
PERSONAL
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS PROVISION FOR DEPRECIATION ACCOUNT?
REAL (VALUATION ACCOUNT)
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS PROVISION FOR BAD DEBT ACCOUNT?
VALUATION ACCOUNT – PERSONAL
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS BAD DEBT RECOVERD ACCOUNT?
NOMINAL (GAIN)
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS PRE PAID SALARY ACCOUNT?
PERSONAL
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS RENT RECEIVED IN ADVANCE ACCOUNT?
PERSONAL
www.afterschoool.tk
WHAT TYPE OF ACCOUNT IS DRAWING ACCOUNT?
PERSONAL
www.afterschoool.tk
EMPLOYEES TOOK GOODS WORTH 1000 AND AMOUNT WAS DEDUCTED FROM SALARY, WHAT WILL BE ENTRY?
SALARY A/C DEBIT TO PURCHASE ACCOUNT CREDIT
www.afterschoool.tk
WAGES PAID RS. 1000. WORKERS WORKED ON INSTALLATION OF NEW MACHINE
ACCOUNTING ENTRY: MACHINERY ACCOUNT DEBIT TO CASH (OR BANK) CREDIT
www.afterschoool.tk
WHICH ACCCOUNTS ARE BALANCED?
REAL ACCOUNT AND PERSONAL ACCOUNTS (THEIR BALANCE IS SHOWN IN BALANCE SHEET – SO THEY ARE BALANCED) NOMINAL ACCOUNTS ARE NOT BALANCED – THEIR BALANCE IS TRANSFERRED TO P & L ACCOUNT. www.afterschoool.tk
PROCESS OF TRANSFERRING ENTRY FROM JOURNAL TO LEDGER IS ?
POSTING
www.afterschoool.tk
LEDGER BOOK IS ALSO KNOWN AS?
PRINCIPAL BOOK OF ACCOUNTS
www.afterschoool.tk
WRITE 3 METHODS OF PREPARING TRIAL BALANCE?
TOTAL METHOD BALANCE METHOD TOTAL AND BALANCE METHOD
www.afterschoool.tk
MENTION 3 SUBSIDIARY BOOKS?
PURCHASE BOOK SALES BOOK SALES RETURN BOOK BILLS PAYABLE BOOK JOURNAL PROPER BILLS RECEIVABLE BOOK PURCHASE RETURN BOOK www.afterschoool.tk
MENTION 4 TYPES OF CASH BOOKS?
SIMPLE CASH BOOK PETTY CASH BOOK CASH BOOK WITH DISCOUNT COLUMN CASH BOOK WITH BANK AND DISCOUNT COLUMN
www.afterschoool.tk
WHAT IS USE OF SUBSIDIARY BOOK?
EFFICIENCY, SPEED, SPECIALISATION AVAILABILITY OF INFORMATION FACILITY IN CHECKING DIVISION OF WORK
www.afterschoool.tk
PREPARE : PURCHASE BOOK OR PURCHASE RETURN BOOK?
PURCHASE RETURN BOOK
www.afterschoool.tk
WE PURCHASED A CAR, WHERE WILL ENTRY GO : PURCHASE BOOK / JOURNAL PROPER
JOURNAL PROPER
www.afterschoool.tk
STATIONERY ITEMS : PURCHASE / JOURNAL PROPER
JOURNAL PROPER
www.afterschoool.tk
CREDIT PURCHASE OF STATIONERY ITEMS BY STATIONERY DEALER: PURCHASE / JOURNAL PROPER
PURCHASE
www.afterschoool.tk
TOTAL OF PURCHASE DAY BOOK IS TRANSFERRED TO ?
PURCHASE ACCOUNT (DEBIT SIDE).
www.afterschoool.tk
SALES BOOK IS A PART OF JOURNAL / LEDGER?
JOURNAL
www.afterschoool.tk
TOTAL OF SALES BOOK IS POSTED IN ?
SALES ACCOUNT (CREDIT SIDE).
www.afterschoool.tk
ABOUT AFTERSCHOOOL Afterschoool conducts three year integrated PGPSE (after class 12th along with IAS / CA / CS) and 18 month PGPSE (Post Graduate Programme in Social Entrepreneurship) along with preparation for CS / CFP / CFA /CMA / FRM. This course is also available online also. It also conducts workshops on social entrepreneurship in schools and colleges all over India – start social entrepreneurship club in your institution today with the help from afterschoool and help us in developing society. www.afterschoool.tk
Why such a programme?
To promote people to take up entrepreneurship and help develop the society To enable people to take up franchising and other such options to start a business / social development project To enable people to take up social development as their mission To enable people to promote spirituality and positive thinking in the world www.afterschoool.tk
Who are our supporters?
Afterschoolians, our past beneficiaries, entrepreneurs and social entrepreneurs are supporting us. You can also support us – not necessarily by money – but by being promotor of our concept and our ideas. www.afterschoool.tk
About AFTERSCHOOOL PGPSE – the best programme for developing great entrepreneurs
Most flexible, adaptive but rigorous programme Available in distance learning mode Case study focused- latest cases Industry oriented practical curriculum Designed to make you entrepreneurs – not just an employee Option to take up part time job – so earn while you learn www.afterschoool.tk The only absolutely free course on
Workshops from AFTERSCHOOOL
IIF, Delhi CIPS, Jaipur ICSI Hyderabad Branch Gyan Vihar, Jaipur Apex Institute of Management, Jaipur Aravali Institute of Management, Jodhpur Xavier Institute of Management, Bhubaneshwar Pacific Institute, Udaipur Engineering College, Hyderabad www.afterschoool.tk
Flexible Specialisations:
Spiritualising business and society Rural development and transformation HRD and Education, Social Development NGO and voluntary work Investment analysis,microfinance and inclusion Retail sector, BPO, KPO Accounting & Information system (with CA / CS /CMA) Hospital management and Health care Hospitality sector and culture and heritage Other sectors of high growth, high technology and social relevance www.afterschoool.tk
Salient features:
The only programme of its kind (in the whole world) No publicity and low profile course For those who want to achieve success in life – not just a degree Indepth knowledge and expertise Professional approac: World class approach Strong intellectual and business capabilities Flexible – you may stay for a month and continue the rest of the education by distance mode. / you may attend weekend classes Scholarships for those from poor economic background Latest and constantly changing curriculum – keeping pace with the time Placement for those who are interested Admissions open throughout the year Latest and most advanced technologies, books and www.afterschoool.tk study material
Components
Pedagogy curriculum and approach based on IIM Ahmedabad and ISB Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad) Meditation, spiritualisation, and self development Essential softwares for business Business plan, Research projects Participation in conferences / seminars Workshops on leadership, team building etc. Written submissions of research projects/articles / papers Interview of entrepreneurs, writing biographies of entrepreneurs Editing of journals / newsletters Consultancy / research projects Assignments, communication skill workshops Participation in conferences and seminars Group discussions, mock interviews, self development diaryng Mind Power Training & writing workshop (by Dr. T.K.Jain)
www.afterschoool.tk
Pedagogy
Case analysis, Articles from Harvard Business Review Quiz, seminars, workshops, games, Visits to entrepreneurs and industrial visits Presentations, Latest audio-visuals Group discussions and group projects Periodic self assessment Mentoring and counselling Study exchange programme (with institutions out of India) Rural development / Social welfare projects www.afterschoool.tk
Branches
AFTERSCHOOOL will shortly open its branches in important cities in India including Delhi, Kota, Mumbai, Gurgaon and other important cities. Afterschooolians will be responsible for managing and developing these branches – and for promoting social entrepreneurs. www.afterschoool.tk
Case Studies
We want to write case studies on social entrepreneurs, first generation entrepreneurs, ethical entrepreneurs. Please help us in this process. Help us to be in touch with entrepreneurs, so that we may develop entrepreneurs. www.afterschoool.tk
Basic values at afterschoool
Share to learn more Interact to develop yourself Fear is your worst enemy Make mistakes to learn Study & discuss in a group Criticism is the healthy route to mutual support and help Ask fundamental questions : why, when, how & where? Embrace change – and compete with yourself only www.afterschoool.tk
www.afterschoool.tk social entrepreneurship for better society
www.afterschoool.tk
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April 2020 18More Documents from "Dr. Trilok Kumar Jain"
3 July Reasoning & Di
April 2020 29
4 July My Teaching Pedagogy
April 2020 20
10 July Economics
April 2020 18
22 July Mathematics
April 2020 18
14 June Gk
April 2020 21