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Accounting

Accounting is the systematic recording and analysis of financial transactions and business activities. It involves comprehensively tracking assets, liabilities, capital, income and expenses according to basic concepts like the business entity, money measurement, going concern and accrual. Accounting provides an analysis of a company's financial position and performance over time through concepts like the accounting period and matching principle.

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rakesh biswal
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10 views10 pages

Accounting

Accounting is the systematic recording and analysis of financial transactions and business activities. It involves comprehensively tracking assets, liabilities, capital, income and expenses according to basic concepts like the business entity, money measurement, going concern and accrual. Accounting provides an analysis of a company's financial position and performance over time through concepts like the accounting period and matching principle.

Uploaded by

rakesh biswal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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BASIC OF ACCOUNTING

MEANING
 Accounting is the systematic and comprehensive
recording of financial transactions pertaining to a
business.
 the system of recording and summarizing business
and financial transactions and analyzing, verifying, and
reporting the results
Branches of accounting
VARIOUS CONCEPT OF
ACCOUNTING
 Business entity concept.
 Money measurement concept.
 Going concern concept.
 Accounting period concept.
 Accounting cost concept..
 Duality aspect concept.
 Accrual concept.

Matching concept.
ELEMENTS OF ACCOUNTING

 Assets
 Liability
 Capital
 Income
 Expenses

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