Wednesday 19 October 2016

Financial Accounting - Depreciation

Depreciation reduces the value of assets on a residual basis. It also reduces the profits of the current year.
Depreciation indicates reduction in value of any fixed assets. Reduction in value of assets depends on the life of assets. Life of assets depends upon the usage of assets

Financial Accounting - Subsidiary Books

Cash Book

Cash book is a record of all the transactions related to cash. Examples include: expenses paid in cash, revenue collected in cash, payments made to creditors, payments received from debtors, cash deposited in bank, withdrawn of cash for office use, etc.

Financial Accounting - Ledger

Now let us try to understand how a journal works. With the help of journal entries, we book each and every financial transaction of the organization chronically without considering how many times the same type of entry has been repeated in that particular accounting year or period.

Financial Accounting - Journal

“The process of recording a transaction in a journal is called journalizing the transactions.”
---Meigs and Meigs and Johnson
Journal is a book that is maintained on a daily basis for recording all the financial entries of the day. Passing the entries is called journal entry. Journal entries are passed according to rules of debit and credit of double entry system.

Accounting - Systems

There are two systems of accounting followed -
  • Single Entry System
  • Double Entry System

Accounting - Classification of Accounts

It is necessary to know the classification of accounts and their treatment in double entry system of accounts. Broadly, the accounts are classified into three categories:
  • Personal accounts
  • Real accounts
    • Tangible accounts
    • Intangible accounts
Let us go through them each of them one by one.

Accounting conventions

Convention of Consistency

To compare the results of different years, it is necessary that accounting rules, principles, conventions and accounting concepts for similar transactions are followed consistently and continuously. Reliability of financial statements may be lost, if frequent changes are observed in accounting treatment. For example, if a firm chooses cost or market price whichever is lower method for stock valuation and written down value method for depreciation to fixed assets, it should be followed consistently and continuously.

Accounting Concept

The first two accounting concepts, namely, Business Entity Concept and Money Measurement Concept are the fundamental concepts of accounting. Let us go through each one of them briefly:

Accounting Process

संकलनकर्ता - डॉ. नीरज मील 

Accounting Process

       Accounting cycle refers to the specific tasks involved in completing an accounting process. The length of an accounting cycle can be monthly, quarterly, half-yearly, or annually. It may vary from organization to organization but the process remains the same.
     The following table lists down the steps followed in an accounting process -

Tuesday 18 October 2016

Accounting Overview

     Accounting is a business language. We can use this language to communicate financial transactions and their results. Accounting is a comprehensive system to collect, analyze, and communicate financial information.

Monday 17 October 2016

Liberalization, Privatization and Globalization in India

Liberalization, Privatization and Globalization in India

The economy of India had undergone significant policy shifts in the beginning of the 1990s. This new model of economic reforms is commonly known as the LPG or Liberalisation, Privatisation and Globalisation model. The primary objective of this model was to make the economy of India the fastest developing economy in the globe with capabilities that help it match up with the biggest economies of the world.

Sunday 16 October 2016

Difference between management accounting and financial accounting

The differences between management accounting and financial accounting include:
   1.Management accounting provides information to people within an organization while financial accounting is mainly for those outside it, such as shareholders
 2.Financial accounting is required by law while management accounting is not. Specific standards and formats may be required for statutory accounts such as in the I.A.S International Accounting Standard within Europe.
 3.Financial accounting covers the entire organization while management accounting may be concerned with particular products or cost centres.

Friday 14 October 2016

Business environment:: a review conclusion

Business environment:

Meaning of Business Environment

Environment of a business means the external forces influencing the business decisions. They can be forces of economic, social, political and technological factors. These factors are outside the control of the business. The business can do little to change them.

Friday 2 September 2016

जियो के भ्रम जाल में

अम्बानी की डेटागिरी या जादूगिरी
लेखक- डॉ. नीरज मील 
"ये तय है कि रिलायंस का जादू एक बार फिर से सर पे चढ़ कर बोलेगा क्योंकि रिलायंस सेल्स की पिरामिड अवधारणा के साथ- साथ मनोवैज्ञानिक प्रभाव का भी बड़े स्तर पर प्रयोग कर रही है। शायद ये थ्योरी तीन पति अर्थात् जुए की ट्रिक से ज्यादा प्रेरित वैज्ञानिक प्रणाली है।"                           

Saturday 27 August 2016

अर्थ के लालच में जी तोडते रिश्ते Dying Relations and Relationship in greed of Money

vFkZ dk ykyp ,oa th rksM+rs fj’rs
MkW- uhjt ehy
^^vkt ,d ek¡ vFkZ ds fy, vius cPpksa ls eerk dk I;kj ,oa ikyu dks Nhuus ds vykok x`gLFk thou dh Hkwfedk dk fuogZu Hkh lg"kZ R;kxus dks RkS;kj gS rks nwljh rjQ vFkZ ds fy, uSfrdrk dks Hkh rkM+k tk jgk gSA ifj.kke la?k"kZe; lkekftd thou] VwVrs ifjokj] fc[kjrs fj’rs] [kf.Mr lius lcds lkeus gSa ysfdu fQj Hkh bu lc ij Hkkjh iM+ jgk gS vFkZ dk O;FkZ ykypA**

भारत में गरीबी Poorly in India

Hkkjr esa xjhch dh vo/kkj.k & ,d foLr`r v/;;u

                               ys[kd& MkW- uhjt ehy

^^xjhch fdlh O;fDr ds fy, u fd;k gq, vijk/k dh ltk gS ftls mls Hkqxruh iM+rh gSA bldk eq[; dkj.k /kuoku oxZ n~okjk fuEu oxZ dk izR;{k&ijks{k 'kks"k.k gSA**

आतंकवाद: नागरिक असुरक्षा Terrorism : civilian Insecurity

vkradokn% ukxfjd vlqj{kk
ys[kd& MkW- uhjt ehy 

^^’kk;n vkradh geys Hkkjrh; ukxfjdksa ds lkoZtfud thou dk fgLlk cu pqds gSA ge vius drZO;ksa dh vuqikyuk djus ds ctk; flQZ mÙkjnk;h Bgjk dj ?kVuk dh bfrJh djrs gh ut+j vkrsa gSaA bl vkye esa eq>s rks ’kd gksrk gS fd dgha ;s vkradokn ds uke ij jktuSfrd geys rks ugha gS\**