Topics
Introduction to Book-Keeping and Accountancy
- Accounting
- Book-Keeping
- Accountancy
- Book-Keeping vs. Accountancy
- Basis (Methods) of Accounting System
- Qualitative Characteristics of Accounting Information
- Basic Terms in Accounting
- Transaction
- Capital and Drawings
- Debtors, Creditors and Bad Debts
- Expenditure and Its Types
- Discount and Its Types
- Solvent Person vs. Insolvent Person
- Accounting Year
- Trading Concerns vs. Not for Profit Concerns
- Concept of Goodwill
- Fundamentals of Business Earnings
- Concepts of Assets, Liabilities and Net Worth
- Accounting Principles
- Accounting Concepts
- Core Accounting Concepts
- Accounting Standards
Meaning and Fundamentals of Double Entry Book-Keeping
Journal
- Accounting Documents
- Goods and Service Tax(GST)
- Types of Accounting Documents
- Voucher
- Tax Invoice (Under GST)
- Credit Memo
- Receipt
- Cheque
- Types of Cheques
- Books of Accounts
- Books of Accounts > Journal
- Journal Entries
- Journal Entries > Goods Account
- Journal Entries > Recording Discount in Journal
- Journal Entries > Other Important Journal Entries
Ledger
Subsidiary Books
- Concept of Subsidiary Books
- Cash Book
- Cash Book > Simple Cash Book (Single Column Cash Book)
- Cash Book > Two Column Cash Book (With Cash and Bank Columns)
- Cash Book > Petty Cash Book
- Simple Petty Cash Book
- Analytical Petty Cash Book
- Purchase Book
- Purchase Return Book
- Sales Book
- Sales Return Book
- Journal Proper
Bank Reconciliation Statement
- Accounting Documents Used in Banking
- Accounting Documents Used in Banking
- Pay-in-Slip
- Withdrawal Slip
- Bank Pass Book
- Bank Statement
- Bank Advice
- Concept of Virtual Banking
- Bank Reconciliation Statement(BRS)
- Cash Book vs Pass Book : Causes of Differences
- Time Difference(Regarding BRS)
- Errors and Omission Made by Bank or Businessman
- Formats of BRS
- Preparation of BRS
- Cash Book and Pass Book Comparison for Common Period
- Cash Book and Pass Book Balances for Different Periods
- Bank Balance as per Cash Book (Favourable / Debit Balance)
- Bank Balance as per Pass Book (Favourable / Credit Balance)
- Overdraft as per Cash Book (Unfavourable / Credit Balance)
- Overdraft as per Pass Book (Unfavourable/Debit balance)
- Reconciliation of Debtors and Creditors
Depreciation
Rectification of Errors
Final Accounts of a Proprietary Concern
Single Entry System
- Concept of Single Entry System
- Single Entry System vs. Double Entry System
- Parts of Single Entry System
- Statements of Affairs
- Statement of Profit or Loss
- Statement of Profit or Loss > Net Worth Method
- Practical Problems on Single Entry System
- Definition : Discount
- Types of Discounts
- Flow of Transaction Having Both Discounts
- Real-Life Examples
Maharashtra State Board: Class 11
Definition: Discount
A discount is a price reduction offered by a seller to a buyer.
Maharashtra State Board: Class 11
Types of Discounts
| Feature | Trade Discount | Cash Discount |
|---|---|---|
| When Given | At purchase/sale | At payment (for quick payment) |
| Why Given | Encourage larger sales | Encourage early payment |
| Shown in Books? | No | Yes (as expense/income) |
| Calculated on | List price/Catalogue price (MRP) | Invoice value (after trade discount) |
Maharashtra State Board: Class 11
Flow of Transaction Having Both Discounts
Maharashtra State Board: Class 11
Real-Life Examples
| Situation | What Happens | Discount Type |
|---|---|---|
| Buying in Bulk | Shopkeeper buys 20 boxes of pens from a wholesaler and gets ₹2 off per box instantly. | Trade Discount |
| Retail Shopper Offer | Store runs a “Buy 2 Get 1 Free” or “10% off on 5 shirts” sale to customers at checkout. | Trade Discount |
| Paying Immediately | A customer pays the full bill at an electronics store using UPI on the spot and gets 3% off. | Cash Discount |
| Early Online Payment | Electricity bill is ₹500. If paid before the 10th of the month, the biller gives ₹20 off. | Cash Discount |
| Digital Payment Offer | Restaurant bill is ₹600. Pay via PayTM during the offer period—get ₹30 off instantly. | Cash Discount |
