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Accounts from incomplete records

Accounts from incomplete records. Anil Gomez. Technical supports by my kiddies Abey & neha. A real life illustration. Let us learn how profit is calculated without the help of the accounting science This practice is still popular

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Accounts from incomplete records

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  1. Accounts fromincomplete records

  2. Anil Gomez • Technical supports • by • my kiddies • Abey & neha

  3. A real life illustration • Let us learn how profit is calculated without the help of the accounting science • This practice is still popular • You have a lesson but poor Harry calculating his days profit without the help of a teacher

  4. Harry called it common sense accounting • Solutions to the accounting problems using one’s commonsense is called commonsense accounting

  5. Harry the lonely & aimless narrates his chronicle • UNFORTUNATE A BOY OF UR AGE Doesn’t know where to go

  6. HARRY’S GRANDMA

  7. It was all fate harry’s parents were dead while was a plus1 class • A poor boy like you, had all desires and craves for love, affection, protection, education etc But his fate denied all these and was bound to take the brunt of the family. poor granny is helpless to school him

  8. How pathetic The little one had no choice but to opt peanut selling

  9. peanut After buying peanuts he walked towards the park Bought peanuts for rs30

  10. He reached the park • He began selling in front of the park

  11. During the course he took Rs 25 from the cash box • With this money he had a cup of tea and packed some food for granny Having tea

  12. Due to crowd his stock got exhausted soon, he further bought nuts for Rs40 by borrowing from his friend Harry becomes liable for Rs 40 thanks

  13. HE IS THINKING “HOW CAN I PAY OFF THIS” WHAT FATE

  14. At sundown he finished his sale and set out homeward • . When reached home his unfortunate grand mother asked how much you made from ur business

  15. The question of her grandma made him think How much Was With u in the morning? ONLY RS 30

  16. the boy still is in puzzlement HOW MUCH U HAVE NOW? Rs 90 only

  17. Conversation contd

  18. Grandma: then ur profit is RS 60only(ie 90-30) • SON: no granny , I borrowed 40 from my friend Don’t I have to pay that back

  19. Grandma: certainly u have to pay ur debt first after that ur profit is 20 only • SON: no granny ,I am still confused • Grandma :what is it now ?

  20. SON:I took Rs 25 for our tea & food etc • Grandma :Then u are at loss of Rs 5

  21. No granny then every businessman spend a lot for their personal matters Granny baffled We make Profit For Our living Don’t we?

  22. This created granny in a puzzled state • After a while granny continued You are right my boy The personal exps like spending for tea, food etc really not a loss

  23. Harry: you mean that Rs 25 spent for food is a part of our profit • Granny: my dear then we had not sustained any loss as I said • Harry: then why did you say with profit of RS 20 personal expenses should be deducted and u stamped me loss maker of 5rs

  24. granny: you are my grandson You are shrewd business man • Harry: then how much is my profit?

  25. Granny and grand son asks you • Should the profit be increased or reduced by the personal exps met for my son and me • FINALLY OUR PRIFIT IS HOW MUCH?

  26. See Harry's friends enjoying their + one life • Look at that class room

  27. Harry'sfriends learning formats of capital comparison method thrilled guys Suffering teacher with

  28. Is this how Harry learned? Clg cap 90 Add drawings 25 Less additional cap 40 Less opg cap 30 Profit earned Rs 45 Learn This format hai

  29. The message • Let us take the good of Harry who uses brain for application while his friendsuse brain for mugging up not realizing what he learns

  30. Let us promote the kids to apply

  31. Anil Gomez says it is not THE END

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