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What is accounting?and its objectives?

Posted by Tanishka Kashyap 4 years, 2 months ago

1 answers

Meghna Thapar 4 years, 2 months ago

The main objectives of accounting are maintaining a complete and systematic record of all transactions and analyzing the financial position of a business. Every individual or a business concern is interested to know the results of financial transactions and their results are ascertained through the accounting process.

The following are the main objectives of accounting:

To maintain full and systematic records of business transactions: ADVERTISEMENTS: ...
To ascertain profit or loss of the business: Business is run to earn profits. ...
To depict financial position of the business: ...
To provide accounting information to the interested parties:

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Accountancy is a science or arts or combination of both

Posted by Keerti Kumari 4 years, 2 months ago

CBSE > Class 11 > Accountancy

3 answers

Khushi Singh 4 years, 2 months ago

Accounts is an art as well as science because accounting is an organised knowledge based on some principles and guidelines whereas accounting is also an art as it helps in achieving the desired objective.

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Mahi Sharma 4 years, 2 months ago

Because it give knowledge and art how to do anything

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Punya Shetty 4 years, 2 months ago

It is combined of both

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Can anyone help me with accounts??

Posted by 📕Queen 📕Queen 4 years, 2 months ago

CBSE > Class 11 > Accountancy

2 answers

📕Queen 📕Queen 3 years, 8 months ago

I want to do journal

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Dev Gupta 4 years, 2 months ago

Ya...what type of help u need??

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Which is the following transaction is of financial character

Posted by Anupam Sharma 4 years, 2 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

What is accounting ? what are its objectives

Posted by Rahul Rai 4 years, 2 months ago

CBSE > Class 11 > Accountancy

1 answers

Rahul Rai 4 years, 2 months ago

Accounting is a process of identifying measuring recording classify summarising analysing and interpreting and communicating financial

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Personal transaction are distinguished from business transaction in accordance with business entity ancept. True or false

Posted by Gurpreet Kaur 4 years, 2 months ago

CBSE > Class 11 > Accountancy

1 answers

Arinan Aggarwal 4 years, 2 months ago

True

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Haa

Posted by Ravi Mandal 4 years, 2 months ago

CBSE > Class 11 > Accountancy

1 answers

Aman Pandey 4 years, 2 months ago

Econimic objective

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What is vocher

Posted by Anjali Pandey 4 years, 2 months ago

CBSE > Class 11 > Accountancy

1 answers

Sheetal Cutie?? 4 years, 2 months ago

The documentry evidence in support of a transaction is known as voucher.for example if we buy goods for cash , if we buy goods on credit ,we get an invoice,when we make a payment we get a receipt

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Accounting provide information about the profitability and financial soundness of a concern.in addition it provides various other valuable information also.however accounting has certain limitations? explain the limitations which is concerned with the manipulation of accounts

Posted by M Harigaran 4 years, 2 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Accounting equations

Posted by Bhumika Engle 4 years, 2 months ago

CBSE > Class 11 > Accountancy

1 answers

Ankita Gupta 4 years, 2 months ago

Assets=liabilities+capital

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Supplied goods costing ₹ 3,600 to Sanjay. Issued invoice at 20% above Cost less 10% Trade Discount.

Posted by Pritesh Sethiya 4 years, 2 months ago

CBSE > Class 11 > Accountancy

1 answers

Ankita Gupta 4 years, 2 months ago

Given, Goods cost rupees 3600 and issued invoice at 20%. So, 3600+20%=4320. Now trade discount 10% So, 4320-10%= 3888. Answer=3888 rupees

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What will be journal if Rajesh started business with cash Rs. 90,000 and loan from his friend Rs. 30,000.

Posted by Surendra Kumar 4 years, 2 months ago

CBSE > Class 11 > Accountancy

1 answers

Nandini Kapoor 4 years, 2 months ago

Cash a/c dr. 90000 Rajesh a/c dr. 30000 To capital a/c. 120000

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How can I study accounts effectively at home during this lockdown.....

Posted by Gaur Saab?? 4 years, 2 months ago

CBSE > Class 11 > Accountancy

4 answers

Gaur Saab?? 4 years, 2 months ago

Yes dev u were right he is a very excellent teacher

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Gaur Saab?? 4 years, 2 months ago

Thank you very much for your help DEV GUPTA.?

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Dev Gupta 4 years, 2 months ago

CA Parag Gupta....visit this channel on YouTube for Accountancy and Economics...he's a very excellent teacher...I suggest u should visit and please tell your experience later...plzzz

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Gaur Saab?? 4 years, 2 months ago

Please answer I'm new here...

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What will be the journal entry Goods sold to roma for 5000 at 20% trade discount and 3%cash discount. Half of the payment was received immediately.

Posted by Shivani Mishra 4 years, 2 months ago

CBSE > Class 11 > Accountancy

1 answers

Ankita Gupta 4 years, 2 months ago

By using compound entry Dr. Cr. Roma(5000-20%)(dr) 4000 To sales 4000 ( Being sales of goods at 20% trade discount) Cash (dr)(2000-3%) 1940 Discount allow (dr) 60 To sales 2000 (Being half payment made immediately and allow 3% cash discount)

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What is distinct between book keeping and accounting

Posted by Amit Kumar Pradhan 4 years, 2 months ago

CBSE > Class 11 > Accountancy

1 answers

Yogita Ingle 4 years, 2 months ago

In the simplest of terms, bookkeeping is responsible for the recording of financial transactions whereas accounting is responsible for interpreting, classifying, analyzing, reporting, and summarizing the financial data.

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Show the effect of the following transaction on assests liability and capital through accunting equation

Posted by Khushi Maheshwari 4 years, 2 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Machine for Rs. 250000 was purchased. The payment was made by giving an old machine valued at Rs.50000 (Book value Rs. 75000) in exchange and balance was paid cheque.

Posted by Bhavya Varshney 4 years, 2 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Purchased goods from lalit of Rs.50000 less 10 percent trade discount and 2 percent cash discount on immediate payment. Payment was made by bank draft on which bank charges of Rs. 200 were incurred.

Posted by Bhavya Varshney 1 year, 4 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Kisi ki class mein T. S. Grewal ka 2020 edition ki book ? lagi hai Toh Please Batayein.???

Posted by Thakur Akhil Singh Sengar 4 years, 2 months ago

CBSE > Class 11 > Accountancy

5 answers

Dikshant Bhaiya 4 years, 2 months ago

Yes

1Thank You

Gaur Saab?? 4 years, 2 months ago

Same here d.k goel

1Thank You

Sheetal Cutie?? 4 years, 2 months ago

Mere pass h t.s gerewal

1Thank You

Śěřãj The Cute? 4 years, 2 months ago

Mere mai nahi. We use d.k goel

2Thank You

Nandini Kapoor 4 years, 2 months ago

Yes

1Thank You

ANSWER

Reply Please I'm new ???

Posted by Thakur Akhil Singh Sengar 4 years, 2 months ago

CBSE > Class 11 > Accountancy

3 answers

Thakur Akhil Singh Sengar 4 years, 1 month ago

Give me Answer of this Question : What are the two methods of preparation of Trial Balance?

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Gaur Saab?? 4 years, 2 months ago

Bolo veer ji?

1Thank You

📕Queen 📕Queen 4 years, 2 months ago

Ha bhai bolo

1Thank You

ANSWER

journalise the following entries in the book of sudhir

Posted by Nikita Nikita 4 years, 2 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

48 miscellaneous question of chspter 4

Posted by Nikita Nikita 4 years, 2 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

48 question of chapter 4

Posted by Nikita Nikita 4 years, 2 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Show the effect of following transaction on the accounting equation: (a) Manoj started business with (i) Cash Rs. 2,30,000 (ii) Goods Rs. 1,00,000 (iii) Building Rs. 2,00,000

Posted by Shibanadan Rajbhar 4 years, 2 months ago

CBSE > Class 11 > Accountancy

2 answers

Gaurav Sharma 4 years, 2 months ago

In asset side Increase cash with 230000,increase stock with100000,increase building with 200000. Laibility side increase capital with 530000

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Shibanadan Rajbhar 4 years, 2 months ago

Show the effect of following transaction on the accounting equation: (a) Manoj started business with (i) Cash Rs. 2,30,000 (ii) Goods Rs. 1,00,000 (iii) Building Rs. 2,00,000

1Thank You

ANSWER

Manu strated a business with cash 1,00,000 He purchased furniture for business 20,000 Purchased goods on credit from anshul 6,000 Paid to his creditors, anshul 2,000 Paid salary to his clerk 1,000 Paid rent 500 Received intrest 200

Posted by Jhilli Sengupta 4 years, 2 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

sent goods through vpp to manayta

Posted by Kush Sharma 4 years, 2 months ago

CBSE > Class 11 > Accountancy

0 answers

ANSWER

Trade receivables

Posted by Neeraj Kumar 4 years, 2 months ago

CBSE > Class 11 > Accountancy

1 answers

Yogita Ingle 4 years, 2 months ago

The term ‘trade receivables’ is the amount receivable for sale of goods or services performed in the ordinary course of business operation. It is the sum of debtors and bills receivable.

Debtor: A debtor is a person who receives a benefit without paying money immediately but liable to pay in future within a particular period of time.
Bills receivable: Bill receivable is an exchange bill accepted by the debtor for the amount which will be received on a specified date. It is included in trade receivables because bill receivable replaces a debtor.

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Where can we found notes??

Posted by Ayush Srivastav 4 years, 2 months ago

CBSE > Class 11 > Accountancy