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
- Introduction
- Definitions: Account
- Types of Accounts
- Examples
Maharashtra State Board: Class 11
Introduction
An account is where we keep all the records of monetary transactions about persons, properties, expenses or incomes,etc in one place.
Maharashtra State Board: Class 11
Definitions : Account
An account is a summarized record of transactions affecting one person, one kind of property or one class of gain or loss.” – G.R. Batliboi
“An account is a ledger record in a summarized form of all the transactions that have taken place with the particular person or thing specified.” –Carter
Maharashtra State Board: Class 11
Types of Accounts
Maharashtra State Board: Class 11
Examples
| Account Type | Sub-type | Meaning | Examples |
|---|---|---|---|
| Personal Account | Natural Person | Accounts of human beings | Rajesh A/c, Meena A/c |
| Artificial Person | Accounts of organisations (created by law or otherwise) | SBI Bank A/c, Infosys Ltd. A/c | |
| Representative Personal | Accounts that indirectly represent a person (prepaid or outstanding amounts) | Outstanding Rent A/c, Prepaid Insurance A/c | |
| Impersonal Account: Real | Tangible Real | Assets you can touch and see | Furniture A/c, Machinery A/c |
| Intangible Real | Assets that cannot be seen/touched | Goodwill A/c, Patents A/c, Trademark A/c | |
| Impersonal Account: Nominal | — | Expenses, losses, incomes and gains of the business | Rent Expense A/c, Salary A/c, Commission Received A/c |
