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what do u know about accountancy and book keeping?
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Answer / h.r. sreepada bhagi
'Accountancy' is an art of recording the business
transactions in a systematic manner to enable preparation of
Statement of Income (Or Profit & Loss A/c to know the
profits earned or Loss incurred) for an accounting period
and of Balance Sheet (Statement of Assets & Liabilities to
know the position) as at the end of that Accounting period.
Book Keeping refers to preservation of Accounting documents,
vouchers, bills, registers, books, etc in an organised
manner to enable verification, audit, reference in future.
In the present day scenario, transactions are not recorded
and maintained in physical registers (books) but maintained
in electronic forms (Computerised Accounting)
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / ajaykumar
Accountancy includes both accounting and bookkeeping,accounting is the ascertain of financial position of organisation and financial transactions.booking is a art of recording transactions and financial documents in a systammatic manner...
| Is This Answer Correct ? | 0 Yes | 1 No |
I AM WORKING IN THE CORPORATE (HEAD OFFICE)OF A FINANCE COMPANY. I CO-ORDINATE FOURTEEN BRANCHES IN DELHI. AND MY JOB PROFILES ARE BANK RECONCILIATION,CASH RECONCILIATION, MIS,TRAINING TO THE JR.EXECUTIVES,BRANCH VISIT,SUPPORTING TO BRANCH,ETC. THE QUESTION WAS WHAT U DO FOR UR BRANCH? I TOLD MY ALL JOB PROFILE BUT IT WAS NOT A GOOD ANSWER. WHAT TO SAY FOR THE NEXT TIME?
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What is cost accounting?
From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.
Audit 
