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JAIIB-Accounting & Finance for Bankers MODULE – B Book-Keeping Definition & scope of Book-keeping PowerPoint Presentation
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JAIIB-Accounting & Finance for Bankers MODULE – B Book-Keeping Definition & scope of Book-keeping

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JAIIB-Accounting & Finance for Bankers MODULE – B Book-Keeping Definition & scope of Book-keeping

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  1. JAIIB-Accounting & Finance for Bankers MODULE – B Book-Keeping Definition & scope of Book-keeping Basic Accountancy procedures Maintenance of cash / subsidiary Books and Ledger

  2. Definition & scope of Book-keeping Accounting is often called the language of business. Book-keeping and Accounting not one and the same – Book-keeping means recording the business Transactions. Accountancy means compilation of accounts in such a way that one is in a position to know the state of affairs of the business.

  3. Definition & scope of Book-keeping Financial Statements: - Manufacturing Accounting. - Trading Account - Profit & Loss Account - Balance Sheet - Funds Flow (Changes in Financial Position) - Cash Flow Statement

  4. Definition & scope of Book-keeping Basic objective of Accountancy- to provide information to various users. Income Tax Authorities Sales Tax Authorities Share holders Investors Business Associates Directors Banks for lending purpose

  5. Definition & scope of Book-keeping Purpose: - To know the Profit & Loss - To know the Financial position & Liabilities position - To interpret the Financial Position Objectives: - To keep a systematic record - To ascertain the results of the operations - To ascertain the financial position of business - To facilitate rational decision-making - To satisfy the requirements of law

  6. Definition & scope of Book-keeping Advantages: - For Economic Decisions - To provide information to Investors - To compare the financial position Types of Accounting: - Financial Accounting - Cost Accounting - Management Accounting - Social Responsibility Accounting - Human Resource Accounting - Inflation Accounting

  7. Definition & scope of Book-keeping Accounting Standards: -Accounting Standards Board (ASB) – The council of ICAI may mandate such standards. The council of ICAI will consider the final draft and if found necessary modify the same in consultation with ASB.

  8. Definition & scope of Book-keeping - AS-1 Disclosure of Accounting Policies - AS-2 Valuation of Inventories - AS-3 Cash Flow Statements - AS-4 Contingencies and events occurring after balance sheet - AS- 5 Changes in Accounting Policies - AS – 6 Depreciation Accounting etc.

  9. Basic Accountancy procedures At the recording stage: Business entity concept Money measurement concept Objective evidence concept Historical record concept Cost concept Dual aspect concept

  10. Basic Accountancy procedures At the reporting: Going Concern concept Accounting period concept Matching concept Conservatism concept Full disclosure concept Materiality concept

  11. Basic Accountancy procedures Main conventions of Accounting Accounting of full disclosure Convention of Materiality Convention of Conservatism Convention of Consistency

  12. Two systems of keeping records - Single entry system - Double entry system Journal / Subsidiary Books and Ledger Recording keeping Basics - Recording - Classifying - Summarizing

  13. Classification of Accounts Personal Accounts Impersonal Accounts Real Accounts Tangible Intangible Nominal Accounts Interest, Rent, Carriage, Commission, Insurance Salaries, Discount and wages etc

  14. Visit http://targetibpsexam.blogspot.in/ For JAIIB/ CAIIB Exam Study Material