CONCEPTS OF ACCOUNTING

1. MONEY MEASUREMENT CONCEPT :- Business entities measure events & transections in monitory units.

2. PERIODICITY :- Continuous business activity is divided in different periods business activities are best
reported in annual ,half yearly, quarterly or monthly bases.

3. DOUBLE ENTRY CONCEPT : - Every debit entry has a corresponding credit entry and vice versa.

4. COST CONCEPT:- All transactions are recorded as their historical cost at the time of transactions.

5. MATCHING CONCEPT :- This is the most important principle. It provides the basis for accrual accounting.

6. REVENUE RECOGNITION: - Revenue are recorded as and when they are earned or recognised and not at the
time of transaction.
7. EXPENSE RECOGNITION: - Expense is recognised at the time of transaction itself and provisions for the same
are initiated. Both these concepts that is expense and revenue recognition are based on the principle of Conservatism.
8. FULL DISCLOSER:- All information are important enough to influence the shareholders should be disclosed in
the financial statements


















MEANING OF PLANNING
Planning is the important and primary function of management. It sets all other functions into action. It is the
beginning of the process of management. A manager must plan before coming in action. It is concerned in deciding in
advance what to do? How to do? When to do? why to do? Where to do? And who will do? And answering all these
questions depends upon intelligence. Planning is fully a mental work.
Planning is a conscious process selecting and developing the best course of action to accomplish the objective.
It is the process of deciding what is to be done. It also involves the selection of objectives, policies, procedures and
programmes from among alternatives. It also includes selecting purposes and objectives of the actions to achieve
them. Planning requires decision making that is choosing from among alternative future course of action.
Planning is thus :-
Planning is concerned with future and it helps the management to look ahead.
It involves thinking about organisations prosperity and helps analysis of information.
It involves a predetermined course of action.
It specifies the objectives to be attained in future.
It is basically a problem of choosing from the alternative course of action.
It relates with thinking before doing
It involve both decision making and problem solving
Its objective is to achieve better results and make a good cv

PROCEDURES OF PLANNING

1. Setting Objectives: - Objective are the main part of plan. Setting objectives is the first step of formulating
plans, the success or failure of plan depends upon the objectives of the organization. To determine the
objectives is the first step and most important procedure of making plan.





Cu + H
2
SO
4
= CuSO
4
+ H
2










DRESS CODE
Men; Dark trousers, light coloured full sleeves shirt, leather belt ( not more than a inch and half wide) , properly
polished leather shoes, socks darker shade of the trousers colour, properly knotted tie, no items that bulge in your
pockets- both shirt and trousers carry one pen with you( neatly put in your shirt pocket). Hair properly trimmed and
combed, clean shaven, mild after shave and deodorants. Nails neatly clipped.






HALLO
HOW ARE YOU