CHAPTER 01 – MEANING, OBJECTIVES, SCOPE AND NATURE OF ACCOUNTING TOPIC 01– MEANING OF ACCOUNTING Accounting is the systematic process or an art of recording, classifying, summarizing, analyzing and communicating all the financial transactions/information or events to the end users which are expressed in terms of money only. TOPIC 02– CHARACTERISTICS OF ACCOUNTING Accounting is … Read more
Chapter 04: Process & Base of Accounting TOPIC 01: PROCESS OF ACCOUNTING The accounting process is a series of logical steps followed to identify, record, classify, summarize, and report financial transactions of a business. It typically involves the following steps: 1. Identification of Transactions: Only monetary transactions those that can be expressed in terms … Read more
# CBSE SYLLABUS OF CLASS 11TH – ACCOUNTANCY Chapter 1 – Meaning, Objective, Scope and Nature of Accounting What is Accounting (Meaning and Definition of Accounting) Why Accounting is required (Need of Accounting) Features or Characteristics or Attributes of Accounting Objective and Functions of Accounting Branches or Fields of Accounting Distinguish between Book-Keeping, Accounting and … Read more
ACCOUNTING STANDARD’S (AS’s) AS 1 – Disclosure of Accounting Policies AS 2 – Valuation of Inventories AS 3 – Cash Flow Statements AS 4 – Contingencies and Events Occurring After the Balance Sheet Date AS 5 – Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies AS 7 … Read more
Solutions of T.S Grewal’s Class 12th Accountancy Questions of Academic Session 2025-26 Please Refer the partnership deed: Items If Partnership Deed (YES) If Partnership Deed (NO) Interest on Partners Loan (Loan given by Partner to Firm) As per Partnership deed 6% p.a. Profit Sharing Ratio As per Partnership deed Equally among all partners Interest on … Read more
Topic 01: # What is Partnership? Partnership is the relationship between two or more persons who have agreed to share the profits (includes loss also) in their profit sharing ratio and do the business which is carried on by all or any of them acting for all (mutual agency or partners are principal and agent). … Read more