accounting

Accounting & Financial Analysis An Introduction Prof. Raman Chawla

What is accounting ,[object Object],[object Object]

Characteristics of financial accounting ,[object Object],[object Object],[object Object],[object Object]

Objectives or functions of accounting ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Accounting Process Recording of transaction (Journal entry) Classification (Ledger Posting) Summarizing (Trial balance) Interpreting (Income &position statement) Analysis of transactions

Branches of Accounting ,[object Object]

Cost accounting ,[object Object]

Management accounting ,[object Object]

Users of accounting information Owners Management Creditors Government Investors Employees Researches Lenders

Generally Accepted Accounting principles (GAAP) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Business entity concept ,[object Object]

Going concern concept ,[object Object]

Dual Aspect Concept ,[object Object]

Cost concept ,[object Object],[object Object],[object Object],[object Object]

Money measurement concept ,[object Object]

Accounting period concept ,[object Object]

Matching concept ,[object Object]

Accrual concept ,[object Object]

Accounting conventions ,[object Object],[object Object],[object Object]

Full disclosure ,[object Object]

Double entry system ,[object Object]

Advantages of double entry system ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Some common terms in accountancy ,[object Object],[object Object]

Classification of accounts ,[object Object],[object Object],[object Object],[object Object],[object Object]

Journal ,[object Object],[object Object],AMOUNT AMOUNT L.F PARTICULARS DATE

Explanation ,[object Object],[object Object],[object Object],[object Object],[object Object]

Golden rules of accounting ,[object Object],[object Object],[object Object]

ACCOUNTING STANDARDS Accounting bodies all over the world have tried to achieve some uniformity in the accounting policies by prescribing certain accounting standards in order to narrow the range of alternatives available to an organization in respect of collection and presentation of accounting information.

International accounting standard ,[object Object]

Objectives of committee ,[object Object],[object Object],[object Object]

Indian accounting standards ,[object Object]

Importance of accounting standards ,[object Object]

Accounting standards issued by ASB of ICAI ,[object Object]

IAS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

accounting

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