Class 11 1. Introduction to Accounting Introduction : NCERT Book Solutions
Class 11 chapter 1. Introduction to Accounting Important key points for quick revision for board exams, ssc and upsc exams preparaion.
NCERT Solutions
All chapters of ncert books Accounts 1. Introduction to Accounting Introduction is solved by exercise and chapterwise for class 11 with questions answers also with chapter review sections which helps the students who preparing for UPSC and other competitive exams and entrance exams.
Class 11 chapter 1. Introduction to Accounting Important key points for quick revision for board exams, ssc and upsc exams preparaion. - 1. Introduction to Accounting - Introduction : NCERT Book Solutions for class 11th. All solutions and extra or additional solved questions for 1. Introduction to Accounting : Introduction Accounts class 11th:English Medium NCERT Book Solutions. Class 11 chapter 1. Introduction to Accounting Important key points for quick revision for board exams, ssc and upsc exams preparaion.
1. Introduction to Accounting : Introduction Accounts class 11th:English Medium NCERT Book Solutions
Class 11 chapter 1. Introduction to Accounting Important key points for quick revision for board exams, ssc and upsc exams preparaion. - 1. Introduction to Accounting - Introduction : NCERT Book Solutions for class 11th. All solutions and extra or additional solved questions for 1. Introduction to Accounting : Introduction Accounts class 11th:English Medium NCERT Book Solutions.
Class 11 1. Introduction to Accounting Introduction : NCERT Book Solutions
NCERT Books Subjects for class 11th Hindi Medium
1. Introduction to Accounting
Class 11 chapter 1. Introduction to Accounting Important key points for quick revision for board exams, ssc and upsc exams preparaion.
Introduction
Defintion:
"Accounting is the process of collecting, recording, summarising and comunicating financial information."
Attributes of Accounting:
1. Accounting is an art as well as a Science:
2. Accounting Records only those events and transactions which are of financial character:
3. Accounting records transactions by expressing them in term of money:
4. Functions of accounting:
5. Service activity:
Accounting Process:
Accounting process are as follows:
(i) Financial Transactions or Events,
(ii) Recording,
(iii) Classifying,
(iv) Summarising
(v) Analysis
(vi) Interpretaion
(vii) Reporting or Communicating
Branches of Accounting :
(i) Financial Accounting : Financial Accounting is concerned with recording financial transactions, summarising and interpreting them and communicating the results to users.
- It is concerned with recording of business transaction Periodic preparation of balance sheet profit & loss A/C .
- Financial accounting is useful to determine correct profit or lose made during the year and financial position at the end of the year.
(ii) Cost Accounting: The limitation of financial accounting in respect of information relating to the cost of products or services led to the development of a specialised branch, i.e Cost Accounting.
- . It helps to determine cost of product and cost control.
(iii) Management Accounting: Management Accounting is the most recently developed branch of accounting. It is concerned with generating accounting information relating to funds, costs profits, etc. as it enables the management in decision making.
- It helps the management in decision making, future planning, increasing efficiency and maximizing profit.
- It is highly developed branch of accounting.
Book Keeping: Book keeping is a branch of knowledge that educates us as to how financial records are to be maintained. Book keeping is a part of accounting and is concerned with the recording of financial data in the book of accounts.
"Book keeping is an art of recording bussiness dealing in a set of books." --- J. R. Batliboi
"Book keeping is an art of recording bussiness transactions in a systemic manner." --A. N. Rosen Kampff
Book keeping is a part of accounting.
Class 11 chapter 1. Introduction to Accounting Important key points for quick revision for board exams, ssc and upsc exams preparaion.
See other sub-topics of this chapter:
3. Advantage And Limitation of Acounting
Class 11 chapter 1. Introduction to Accounting Important key points for quick revision for board exams, ssc and upsc exams preparaion. - 1. Introduction to Accounting - Introduction : NCERT Book Solutions for class 11th. All solutions and extra or additional solved questions for 1. Introduction to Accounting : Introduction Accounts class 11th:English Medium NCERT Book Solutions. Class 11 chapter 1. Introduction to Accounting Important key points for quick revision for board exams, ssc and upsc exams preparaion.
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Notes And NCERT Solutions
Our NCERT Solution and CBSE Notes are prepared for Term 1 and Terms 2 exams also Board exam Preparation.
Accounts Chapter List
1. Introduction to Accounting
2. Theory Base of Accounting
3. Recording of transaction-I
4. Recording of transaction-II
5. Bank Reconciliation Statement
6. Trial Balance and Rectification of Errors
7. Depreciation, Provisions and Reserves
