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
- Comparison
- Real-Life Examples
Comparison
| Feature | Trading Concern | Not for Profit Concern |
|---|---|---|
| Objective | Earn profit | Serve society (no profit motive) |
| Income Source | Sales of goods/services | Fees, donations, grants, subscriptions |
| Accounts Prepared | Trading/Profit and Loss Account, Balance Sheet | Receipts & Payments, Income & Expenditure Account, Balance Sheet |
| Profit/Surplus Used | Distributed to owners | Used for service improvement |
Real-Life Examples
|
Type of Organization |
Name/Example |
Main Purpose |
How Income is Used |
|---|---|---|---|
|
Trading Concern |
Grocery Store |
Earn profit by selling goods |
Given to owners as profit |
|
Mobile Phone Shop |
Earn profit by selling mobiles |
Shared among owners |
|
|
Clothing Boutique |
Make profit from sales |
Profit for business growth/owners |
|
|
Bank |
Profit from financial services |
Shared as dividends among shareholders |
|
|
Car Showroom |
Selling vehicles for profit |
Profit to owners/shareholders |
|
|
Not-for-Profit Concern |
School |
Provide education |
Surplus used for better facilities |
|
Sports Club |
Promote sports |
Surplus used for equipment |
|
|
Charitable Hospital |
Serve public health needs |
For medical services/equipment |
|
|
Public Library |
Provide books for education |
For new books/library maintenance |
|
|
NGO (Charity) |
Social welfare/charity |
For social welfare projects |
