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11 Accountancy category on Commerceiets contains the following topics:
Accounting: Meaning, Features, Importance, Advantages, Limitations, Nature, Concepts and Conventions, Accountancy, book-keeping, process of Book-keeping, Process of Accounting, Difference between accounting and book-keeping, difference between accountancy and accounting, accounting standards, Accounting Equation, IFRS.
Journal: Meaning, Features, Format of Journal, Need for Journalising, Benefits of Journal, Limitations of Journal.
Ledger: Meaning and features of Ledger, importance of ledger, benefits of ledger, demerits of ledger, difference between journal and ledger, format of ledger, balancing of accounts.
subsidiary books: cash book, format of cash book, types of cash book, petty cash book, types of petty cash book, advantages of subisdiary books, disadvantages of subsidiary books, bills receivable book, bills payable book, purchase book, sales book, purchase return book, sales return book, journal proper.
Depreciation: meaning of depreciation, features of depreciation, need of depreciation, importance of depreciation acconting, accounting for depreciation, methods of calculating depreciation, straight line method of calculating depreciation, advantages of straight line method, disadvantages of straight line method, dimnidhing balance method, advnatges of dimnishing balance method, disadvantages of dimnishing balance method. suitability of straight line method and written down value method. recording of depreciation in books of accounts.
financial statements without adjustments: what are financial statements, preparation of financial statements, types of financial statements, trading account- meaning, features, format, importance, preparation. profit and loss account or income statement- meaning, nature, format, features, importance, preparation, difference between profit and loss account and trading account, balance sheet or position statement- meaning, features, format, preparation, marshalling of balance sheet, importance, limitations
RESERVES ACCOUNTING It refers to the amount set aside out of profits of the business to strengthen its financial position or to meet future contingencies or losses. Reserves Accounting aims to provide the firm with sufficient finance to safeguard itself for upcoming adverse situations. Usually the firm does not distribute the whole amount of profits….
DEPRECIATION ACCOUNTING Depreciation denotes the decrease in the book value of the fixed assets. It is the permanent and gradual decrease in the value of fixed assets. It is due to use, effluxion of time, obsolescence, expiration of legal rights or any other cause. Depreciation Accounting is done to provide the assets at true value…
Depreciation is the permanent and gradual decrease in the value of fixed asset due to use, effluxion of time, obsolescence, expiration of legal rights etc.
