Scribble in the workbook as you see the video and make your own unique notes.
Accounting Introduction
By Sheela Warrier MeraSkill.com Š MeraSkill
Introduction to Accounting Š MeraSkill
Index What is Accounting Objectives of Accounting Accounting concepts,principles & conventions Accounting Standards Accounting Policies Measurement Principles Relationship with other discipline Limitations of accounting
Š MeraSkill
Concept
Š MeraSkill
Definition Recording Classifying Summarizing Significant manner Monetary transactions and events Interpreting the results Communicating financial information To take informed decisions
Š MeraSkill
Transaction Performance
Event Result
Carried out between two or more entities Money withdrawn from ATM Purchased goods Sold goods Pay expenses
Reduced cash balance Closing Stock Profit Š MeraSkill
Objectives of Accounting
Š MeraSkill
Objectives 1. Systematic recording of financial transactions 2. Ascertain the results of business operations 3. Ascertain the financial position 4. Communicate information 5. Ascertain solvency position
Š MeraSkill
Book Keeping
vs
Accounting
Analysis and interpretation of financial transactions (IS, BS, CF etc) Financial Statements Ascertains results or financial position of business Financial, Cost and No subdivision of book-keeping Management Accounting Accounting begins…….. Book Keeping ends…….. Recording of financial transactions (Journal, Ledger, Trial Balance) No Financial Statements Cannot ascertain results or financial position of business
© MeraSkill
Users of Accounting Information
Š MeraSkill
Users of Financial Statements Owners Mangement Employees Lenders Suppliers Customers Govt agencies Public
Š MeraSkill
How to Learn from us : 1. Free excellent simplified video course+ Free Quiz 2. Scribble in the workbook as you see the video course 3. Workbook makes to an active learner, you work along the course. 4. Workbook helps to revise things quickly. 5. Workbook ensures you cover all the concepts & points. 6. Any query experts help you resolve them 7. Updates, modifications , important points are shared in the group 8. Mistakes in Quiz are reviewed and discussed by the expert 9. Videos+ Workbook +Quiz+ Doubt Solving + Mentoring .. Your success !
Get Physical Notes delivered to your home. WhatsApp us @ 8692900017 Visit MeraSkill.com Video (Free)+ Workbook+ Quiz (Free)+ Query resolution + Mentoring Happy Learning!