ACCOUNTING (FUNDAMENTALS). HOW MANY ACCOUNTING STANDARDS HAVE BEEN ISSUED BY ICAI? 29.
Post on 29-Dec-2015
219 Views
Preview:
Transcript
AS – 17?
SEGMENT REPORTING (WHEN AN MNC / LARGE COMPANY HAS MANY BRANCHES OR WANT TO REPORT ACCOUNTING OF DIFFERENT SEGMENTS – IT IS USEFUL).
WHEN CAN YOU CHANGE ACOUNTING POLICIES?
1. WHEN IT IS REQUIRED BY THE LAW OF THE LAND
2. CHANGE WOULD RESULT IN BETTER PRESENTATION OF ACCOUNTING AND FINANCIAL STATEMENTS.
WHAT IS MEASUREMENT?
ASSIGNING OF NUMBERS TO OBJECTS OR EVENTS IS CALLED MEASUREMENT. IT HAS 3 ELEMENTS:
1. IDENTIFICATION OF OBJECT2. STANDARD TO USE 3. EVALUATION OF DIMENSION OF
OBJECT ON STANDARDS.
WHAT ARE PRINCIPLES OF MEASUREMENT?
1. HISTORICAL COST2. CURRENT COST3. REALISATION VALUE4. PRESENT VALUE
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).
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.
MENTION ANY 3 BOOKS OF ORIGINAL ENTRY?
PURCHASE DAY BOOK SALES DAY BOOK CASH BOOK PURCHASE RETURN DAY BOOK ETC.
EMPLOYEES TOOK GOODS WORTH 1000 AND AMOUNT WAS DEDUCTED FROM SALARY, WHAT WILL BE ENTRY?
SALARY A/C DEBIT TO PURCHASE ACCOUNT CREDIT
WAGES PAID RS. 1000. WORKERS WORKED ON INSTALLATION OF NEW MACHINE
ACCOUNTING ENTRY: MACHINERY ACCOUNT DEBIT TO CASH (OR BANK) CREDIT
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.
MENTION 3 SUBSIDIARY BOOKS?
PURCHASE BOOK SALES BOOK SALES RETURN BOOK BILLS PAYABLE BOOK JOURNAL PROPER BILLS RECEIVABLE BOOK PURCHASE RETURN BOOK
MENTION 4 TYPES OF CASH BOOKS?
SIMPLE CASH BOOK PETTY CASH BOOK CASH BOOK WITH DISCOUNT
COLUMN CASH BOOK WITH BANK AND
DISCOUNT COLUMN
WHAT IS USE OF SUBSIDIARY BOOK?
EFFICIENCY, SPEED, SPECIALISATION
AVAILABILITY OF INFORMATION FACILITY IN CHECKING DIVISION OF WORK
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.
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
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.
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 The only absolutely free course on internet
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
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
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 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)
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
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.
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.
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
top related