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KK Presentation
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BOOK KEEPING
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&
&& ACCOUNTING
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By Group no. 06
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Prateek
UU Shrivastava
NN Pawan Sharma
T A.Anand
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OO INDEX
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EE 1. Introduction.
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PP 2. Bookkeeping
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3. Accounting
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4. Bookkeeping Systems
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What is
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Accounting ?
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Book Keeping –
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Recording the transaction of
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Accounting –
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of the organization on the basis
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BOOK KEEPING
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KK Bookkeeping is the recording
of financial transactions
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EE accordance with some predefined
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purchases, income, and
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usually performed by a
bookkeeper.
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CC A bookkeeper is a person who
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of any company or organization
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OO Need for Book Keeping –
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PP ACCOUNTING
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KK Accounting is the process of
deriving the financial statements
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that emerge from the book
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GG An accountant is a person who
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takes trial balance and other
recorded transactions as base,
AA analyzes them and prepares the
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final accounts and balance sheet.
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Need for Accounting –
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EE 1. To analyze the financial
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2. To compute the profit earned
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company at the end of the
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3. To analyze the assets and
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liabilities of the company.
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KK Single entry bookkeeping
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EE In single entry bookkeeping system all the
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The primary bookkeeping record in single-
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entry bookkeeping is the cash book, which is
similar to a checking (chequing) account
register but allocates the income and
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expenses to various income and expense
accounts. Separate account records are
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maintained for petty cash, accounts payable
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and receivable.
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OO Here the transactions are recorded only once
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Double entry bookkeeping
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EE The Double entry concept proposed that each
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Each transaction must be recorded on the Debit
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transaction and value is also recorded on the Credit
AA side of another nominal ledger hence the
CC expression Double-Entry (entered in two locations)
CC one debit and one credit is applied. By this the total
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KK Bookkeeping practices
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EE The process of transactions’ entry is
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performed in several books of accounts.
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The entry is performed in a pre-planned
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manner, following a set of rules made for
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book keeping.
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KK DAY BOOK
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A daybook is a descriptive and chronological
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(diary-like) record of day-to-day financial
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transactions also called a book of original entry.
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The daybook's details must be entered formally
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the purchases invoices.
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PETTY CASH BOOK
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OO A petty cash book is a record of small value
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OO JOURNAL
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Thank
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you
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UU NO QUERIES
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T PLEASE !!!