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what is concept of accounting
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Answer / sheetal kumar garg
ACCOUNTING IS THE ART OF MAINTAIN OF RECORDS.
| Is This Answer Correct ? | 17 Yes | 3 No |
Answer / kiran kumar.r
The concept of accounting is to find out the performance of
the year and position of the entity at the end year by
following the accounting process i.e
recording transactions
posting them into ledger accounts
preparing trail balance
finally preparing financial statements
| Is This Answer Correct ? | 9 Yes | 1 No |
Answer / dasharath kurella
dual aspect concept
money mesurement concept
cost concept
bussiness entity concept
and etc is accounting concepts
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / kamlesh pandey
GOING CONCERN CONCEPT
BUSINESS ENTITY CONCEPT
DUAL ASPECT CONCEPT
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / laxmikant shinde
Account is a systemetic & signtific recording of all
transction in a bussion.
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / ashish sakalley
Accounting is the art of classifying, summarising &
recording of data.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / manish singh tomar
in accounting many concepts
like as...
dual aspect concept
money measurement concept'
cost concepts
business entity concept
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / rajeshgupta
The main concept of Accounting is the art of recording,
classifying, summarizing &
recording of data with systematic manner which we can find
out the result easily.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / srinivas rao
accounting is the art of recording classifying summarizing
the
day to day money based transactions of the company and give
the information to bod's and publics
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / satyendra singh
Accounts is summerised records of transactions which is
related to a particular institutions or concern
| Is This Answer Correct ? | 0 Yes | 1 No |
what points we can tell in the self introduction round?
DIFFERENCES BETWEEN MANAGEMENT ACCONTING AND FINACIAL ACCOUNTIG
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Trial balance as on 31st March, 2014 Particulars Debit Pula Particulars Credit Pula Wages 14 100 Dividends received 4 300 Salaries 13 000 Bank overdraft 41 000 Opening Stock 40 000 Returns 1 000 Machinery 49 000 Creditors 14 200 Investments 30 700 Sales 258 500 Drawings 23 000 Capital 30 000 Purchases 130 000 Returns 2 000 Debtors 18 000 Advertising 13 400 Interest 4 800 Cash 11 000 349 000 ======= 349 000 ======== Additional information: 1. Closing stock is valued at P53 000. 2. Wages include P350 being advance against wages. 3. Wages include P1 000 paid for erection of machinery. 4. A purchase of stationery for P430 has been inadvertently included in the Purchases account. 5. A sale of investments with a book value of P2 600 for P2 500 has been included in the Sales Account. 6. Salaries include P150 per month paid to the proprietor’s domestic servant. 7. Machinery is to be depreciated by 10 per cent. Required: a. The revenue statement (Trading and Profit and Loss Account) for the year ended 31st March 2014 and b. Statement of financial position (Balance Sheet) as on 31st March, 2014.
Do you possess any knowledge about accounting standards?
Audit 
