This document provides an introduction and overview of the field of accounting. It discusses key topics such as the objectives, functions, importance, branches, and basic terminology of accounting. The main points covered include defining accounting and outlining its role in providing financial information to help decision-making, establishing a systematic record-keeping process, and satisfying various legal requirements. Employment opportunities in accounting are also listed.

1. Introduction to accounting

2. EMPLOYMENT OPPORTUNITIES
 Accounts assistant Audit assistant
 Investment consultant Tax practitioner
 Company secretary Teaching
 Accountant Cost analyst
 Financial advisor Chartered a/c
 Cost and management a/c
 State and Central Government jobs

3. INTRODUCTION TO ACCOUNTING
 Today accounting is used by everyone and a good
understanding of it is beneficial to all.
 The introduction of accounting helps the decision makers
of a company to make effective choices, by providing
information on the financial status of the business.
 Accountancy act as a language of finance.
 To understand accounting efficiently it is important to
understand the aspects of accounting

4. EVOLUTION OFACCOUNTING

10. MEANING AND DEFINITION OF ACCOUNTING

11. DEFINITION OF ACCOUNTING

13. ACCOUNTING CYCLE

14. OBJECTIVES OF ACCOUNTING
 To ascertain the profit or loss of the
business enterprise
 To ascertain the financial position
 To keep a systematic record of financial
transactions
 To provide information to various
stakeholders
 To protect the properties of an enterprise

15. FUCTIONS OF ACCOUNTING
 Measurement
 Forecasting
 Comparison
 Decision making
 Control
 Assistance to government

16. IMPORTANCE OF ACCOUNTING
 Systematic records
 Preparation of financial statements
 Assessment of progress
 Aid to decision making
 Satisfies legal requirements
 Information to interested groups
 Legal evidence
 Settlement during manager

17. BRANCHES OF ACCOUNTING

18. BASIS OF ACOUNTING

19. USERS OF ACCOUNTING INFORMATION

20. ROLE OF AN ACCOUNTANT
Role
Of an
Accountant
• Record keeper
• Provide
information
• Protector of
business assets
• Financial advisor
• Tax manager
• Public relation
officer

21. BASIC ACCOUNTING TERMINOLOGIES
 Transactions :
An activity which involves transfer
of money or money’s worth from
one person to another (Buying and
selling)

22. CASH AND CREDIT TRANSACTIONS

23. ACCOUNT
 It is the basic unit for measurement in
accounting .
 I t is used for identify a person. Or an item
in Accounting.
 An account is opened individually for a
person, asset, expense, income, etc…

24. CAPITAL
 It is the amount invested by the owner or
proprietor in an organisation.

25. DRAWINGS
An amount withdrawn for personal
use of the owner

26. VOUCHER
 Any written or printed document in support of
a business transactions is called a voucher.
 (Ex. Cash receipt, Cash memo, Bank pay–in-
slip

27. INVOICE
 It is a statement prepared by a seller of
goods to be a sent to the buyer.
 It shows details of quantity, price, value,
etc…and discount

28. PURCHASES
 Buying of goods with the intention of
resale ia called purchases.

29. SALES
 When goods meant for resale are sold, it
is called sales.

30. STOCK
 Unsold goods lying in a business on a
particular date are known as stock

31. INCOME
 It is the amount receivable from sale of
goods and earnings interest, discount,
commission, etc..

32. EXPENSE
 It is the amount incurred in order to
produce and sell the goods and services
 Salary
 Wages
 E.B charges
 Rent
 Travelling expenses

33. ASSETS
 Any physical thing or right owned tht has a
monetary value is called assets.

34. LIABILITY
 It refers to the financial obligation of the
business

35. DEBTORS
 A person who receives a benefit without
giving money but liable to pay in future

36. CREDITORS
 A person Who gives a benefit without
receiving money or money’s worth
immediately but to claim in future.