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Accounting Basics

✴Proper financial planning is a key to the success of every business. In today’s business world, accuracy is m...

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Proper financial planning is a key to the success of every business. In today’s business world, accuracy is more important than ever. Accountants do much more than untangle messes at tax time. ✴

They help companies and organizations to meet the requirements and standards set by the government and by their industries. Accredited accountants are always needed to keep individuals’ and businesses’ financial affairs in flawless order. ☆

This App of accounting basics will introduce you to some basic accounting principles, accounting concepts, and accounting terminology. ☆

Some of the basic accounting terms that you will learn include revenues, expenses, assets, liabilities, income statement, balance sheet, and statement of cash flows. You will become familiar with accounting debits and credits as we show you how to record transactions. ☆

Few Important Topics covered in this App are Listed Below】

Accounting - Overview
Golden Rules of Accounting
Objectives and Scope of Accounting
Accounting - Process
Business Entity Concept
Money Measurement Concept
Going Concern Concept
Cost Concept
Dual Aspect Concept
Accounting Period Concept
Matching Concept
Accrual Concept
Objective Evidence Concept
Convention of Consistency
Convention of Disclosure
Convention of Materiality
Conservation or Prudence
Accounting - Classification of Accounts
Accounting - Systems
Financial Accounting - Journal
Analysis and Treatment of Transactions
Financial Accounting - Ledger
Ruling of Account in Ledger Account
Important Points Regarding Ledger
Illustration
Journal Entries
Cash Book
Single Column Cash Book
Double Column Cash Book
Triple Column Cash Book
Petty Cash Book
Purchase Book
Sale Book
Purchase Return Book
Sale Return Book
Bills Receivables Book
Bills Payable Book
Bank Reconciliation
Trial Balance
Financial Statements
➻ Owner’s Equity
Current Assets
Current Liabilities
Cash vs. Accrual Basis of Accounting
Financial Accounting - Depreciation
Method of Depreciation
Cost Accounting - Introduction
Concepts of Cost Accounting
Cost Accounting - Advantages
Cost Accounting vs Financial Accounting
Cost Accounting - Classification of Cost
Cost Accounting - Elements of Cost
Cost Accounting - Cost Sheet
Cost Accounting - Cost Control
Cost Control Techniques
Requirements for Successful Cost Control
Cost Accounting - Cost Reduction
Cost Reduction Program
Fields Covered under the Cost Reduction Program
Financial Management
Personal Management
Material Control
Tools and Techniques of Cost Reduction
Cost Accounting - Budgeting Analysis
Budget, Budgeting, and Budgetary Control
Types of Budgets
Flexible Budget Vs. Fixed Budget
Flexible Budget
Cash Budget
Cost Accounting - Marginal Costing
Need for Marginal Costing
Advantages of Marginal Costing
Cost Accounting - Standard Costing
Points Related to Standard Costing
Standard Cost Card
Cost Accounting - Variance Analysis
Direct Material Variance
Direct Labor Variance
Cost Accounting - CVP Analysis
Marginal Cost Equation
➻ Break-Even Chart
Management Accounting
Development Of Accounting Discipline
Accounting Concepts And Conventions
Accounting Concepts
Accounting Conventions
Ledger Posting And Trial Balance
Trial Balance
Subsidiary Books Of Accounts
Double Column Cash Book
Petty Cash Book
Purchase Book
Preparation Of Profit And Loss Account And Balance Sheet
Manufacturing Account
Profit And Loss Account
Rectification Of Errors
Location Of Errors
Accounting Of Negotiable Instruments
Promissory Note
Reconciliation Of Bank Accounts
Single Entry System
Calculation Of Profit Or Loss
Conversion Method
Inventory Valuation Methods
Methods Of Valuation Of Inventories
Valuation Of Inventory For Balance Sheet Purpose
Accounting For Depreciation
Causes Of Depreciation
Methods Of Calculating Depreciation

Last update

Jan. 7, 2020

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