Tally Accounting Institute in Delhi

1. ATTITUDE The World Of Professionals An ISO 9001:2008 Company Attitude Edutech Pvt. Ltd. Ph: 011-43522158 Email ID :- info@training-n-development.com

2. Introduction Of Accounting The motivation behind bookkeeping is to give a method for recording, reporting, condensing, and deciphering monetary information. Keeping in mind the end goal to do this, a bookkeeping framework must be planned. A framework outline serves the necessities of clients of bookkeeping data. Once a framework has been composed, reports can be issued and choices based upon these reports are made for different offices. Since bookkeeping is utilized by everybody as a part of some shape, a great comprehension of bookkeeping standards is helpful to all.

3. ACCOUNTING FIELDS The bookkeeping calling is for the most part partitioned into two classes: 1) private bookkeeping and 2) open bookkeeping. Private bookkeepers are utilized by a business, while open bookkeepers hone as people or as individuals from a bookkeeping firm. Open bookkeepers are liable to strict government directions and necessities which are controlled by every individual state where a permit is allowed. Private bookkeepers then again require no licenses. They perform undertakings which have been dictated by their manager. Bookkeeping fields exist that have practical experience in particular regions of a business. Cases are evaluating, budgetary, charge, social, cost, administrative, money related and worldwide

4. BASIC ACCOUNTING PRINCIPLES & CONCEPTS Bookkeeping is concerned with the recording of business data, while accounting is concerned with the design, interpretation of data, and the preparation of financial reports. Three forms of business entities exist: 1) sole proprietorship 2) partnership 3) corporations

5. Rules Of Accounting Enteries Three Golden Rules of Accounting with Examples Personal Account Real Account Nominal Account

6. Personal Account Individual record identifies with persons with whom a business keeps dealings. A man called be a characteristic individual or a legitimate individual. In the event that a man gets anything from the business, he is called collector and his record is to charged in the books of the business. On the off chance that individual offers anything to business, he is called as a supplier and his record is to be credited in the books of the business. The Golden Rule for Real Account is, Debit What Comes in and Credit What Goes out

7. Real Account Genuine record identifies with property which may either come into the business or go from business. On the off chance that any property or merchandise comes into the business, record of that property or products is to be charged in the books of the business. On the off chance that any property or products goes out from the business record of that property or merchandise is to be credited in the books of business. The Golden Rule for Real Account is, Debit What Comes in and Credit What Goes out

8. Nominal Account Ostensible record is a record that identifies with operational expense, misfortune, salary and additions. On the off chance that business causes cost to oversee and run business, record of that cost is to be charged in the books of business. At the point when a business acquires wage by rendering administrations or enlisting business resources, a record of that pay is to credited in the books of business. The Golden Rule for Real Account is, Debit What Comes in and Credit What Goes out

9. System of Accounting An accounting system is the system used to manage the income, expenses, and other financial activities of a business There are two systems of Accounting: Cash System of Accounting:  Mercantile or Accrual System of Accounting:

10. Cash System of Accounting: This system records only cash receipts and payments. This system assumes that there are no credit transactions. In this system of accounting, expenses are considered only when they are paid and incomes are considered when they are actually received. This system is used by the organizations which are established for non profit purpose. But this system is considered to be defective in nature as it does not show the actual profits earned and the current state of affairs of the organization.

11. Mercantile or Accrual System of Accounting: In this system, expenses and incomes are considered during that period to which they pertain. This system of accounting is considered to be ideal but it may result into unrealized profits which might reflect in the books of the accounts on which the organization have to pay taxes too. All the company forms of organization are legally required to follow Mercantile or Accrual System of Accounting.