Académique Documents
Professionnel Documents
Culture Documents
Business
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Manufacturing, Buying and Selling of Goods and Services For Monetary Benefits Forms of Business Organizations
Listed Unlisted
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Borrowing for Inputs KIRAN Company Lending to Customer s Cash Collection from Customer s Payment for Input Providers Cash left for Capital
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Business Activities
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Financing Activities Capital and Liabilities Investing Activities Assets Operating Activities Incomes and Expenses
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Accounting
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Account or Explanation
Transactions
Daily Transaction Record Profit or Loss Assets and Debt Positions Movement of Funds
Stakeholders
Monetary Transactions
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Inputs : Business Transactions (e.g., Purchases, Sales, Cash receipts, cash payments External Events Change in Law
Processing : Accounting Principles Accounting Standards Management Estimates Laws and Regulations Accounting Records
Users:
Shareholders Analysts, Banks Rating Agencies Managers, Employees Suppliers, Customers Government Regulators, Media
ACCOUNTING FOR MANAGERS
Outputs: P & L Account Balance Sheet Cash Flow Statement Notes, Management Commentary Reports 2/21/2013
Users of Accounting
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History..
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Accounting practices started in Italy Luca Pacioli first wrote a book Accounting Terms from Latin Industrial Revolution of 18th Century
Separation of Ownership
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Accounting - Types
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Financial Accounting
Cost Accounting
Management Accounting
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Accounting Systems
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Systems of Book-Keeping
Systems of Accounting
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Accounting Principles
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Uniform Scientifically laid down Practices Adopted universally by Accountants across Globe Three Categories
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Accounting Concepts
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Cost
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Accounting Conventions
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Conservatism
Full Disclosure
Consistency Materiality
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Accounting Standards
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Accounting Systems
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Systems of Book-Keeping
Systems of Accounting
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Accounting Equation
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SOLVE.!!!?
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Anna Bond Ltd has assets of Rs. 87000 and liabilities of 53000. How much is its Capital?
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SOLVE.!!!?
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Loan Payable 12000 Owners Capital 77300 Cash 5000 Debtors 17000 Stock of RM 9000 Equipment 19000 Building 21800 Land 21000 What is the amount of other liabilities?
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SOLVE.!!!?
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Nityananda Ltds Capital is twice its Liabilities. Its assets are Rs. 81000. how much are its liabilities?
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SOLVE.!!!?
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Increase in an Asset and Increase in a Liability Increase in an Asset and a Decrease in Another Asset Increase in an Asset and Increase in Capital Decrease in an Asset and Decrease in a Liability Decrease in an Asset and Decrease in Capital
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On Jan 2012, Katariveera started Surasundarangi Photo Studio Ltd. The following transactions took place during the Effect on Accounting first month: Equation invested Rs. 30000 cash in the company in exchange for 3000 shares of Rs. 10 Katariveera each in the share capital of the company Bought supplies of photographic materials on credit Rs. 9000 Bought photographic equipment for cash Rs. 12000 Received fees for photographic services Rs. 15000 Paid creditor for supplies, Rs. 5000 Took a loan Rs. 12000 Billed customers for services Rs. 19000 Paid office rent Rs. 2500; Electricity Rs. 1200 2/21/2013 Paid Dividends Rs. 4000
SOLVE.!!!?
The transactions of Yamaloka Travels Ltd during this month are as follows: Bought a computer for cash Invoiced customers for services provided Bought office supplies on credit Owner invested in the business Collected amount due from a customer Received a Bank loan Paid amount due to a creditor Provided services for cash Repaid a part of the bank loan Paid salaries for the month Owner withdrew Cash for personal use
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