By Rama Gopal, CA. C
Scholars from diversified backgrounds like Engineering, Pharmacy, Arts and organic Sciences sign up for a multidisciplinary direction like MBA. Many such scholars haven't any prior publicity to fundamentals of Accounting and hesitate to learn the initial books in studying the basics. current syllabus of many universities presupposes that the scholars, already, recognize the basics of accounting and starts off with the coaching of economic statements. such a lot scholars continue suffering from accounting, hoping to go in some way. Many scholars percentage their perspectives, even after passing, as their innovations will not be transparent, and fear for the subsequent semester, as they're to stand the complex topic ``Financial Management`` within the subsequent semester.
This publication starts off with basics. Emphasis is to transparent thoughts in easy language. the purpose is additionally to satisfy the aspirations of non-commerce scholars in addition to those that couldn't research in English medium, past. This booklet will gain the weakest of the vulnerable and could even be a excitement for all scholars, who additionally desire to organize for the interviews, as `Interviews questions about Finance` is a tailpiece on the finish of every chapter.
Unique beneficial properties of this Book
Starting from Fundamentals.
Targeted for Non-Commerce scholars and Graduates in Engineering, Arts, arithmetic, Pharmacy and Sciences.
Interview questions about Finance.
Single Book-Suggested solutions and Textbook-Covering overall UGC Syllabus.
Added beneficial properties as in keeping with New development of Exams-True or fake, choose up correct selection.
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Additional resources for Accounting for Managers
The actual time of sale is when the goods are delivered by Dheera & Co to Radhi & Co. Till such time, no profit can be recognised. Accounting for Managers 32 Time of transfer of property is material as that point determines the time of recognition of Profit. However, there are two exceptions to the above rule: (A) In case of hire purchase sale, ownership of goods passes from the seller to the buyer only when the last installment is paid. This is from the legal view point. e. installment is due, but not received).
Liabilities: Liabilities are the amounts that are payable. Advances or loans received have to be repaid. Till date of repayment, they are liabilities. Goods or services when bought on credit are shown as creditors, which are also liabilities. Capital invested by proprietor or partner is also a liability as the business firm is independent from them, so far as accounting is concerned. 13. 14. 15. 16. This is the reason why capital is shown on the liability side in the balance sheet. Capital, loan, outstanding expenses and bills payable are some of the examples of liabilities.
Many think the role of accounting is limited to record transactions in books of accounts. With the pace of computerisation, the role of accounting for recording the transactions has diminished. Importance of analysis of accounts, along with control and achievement of the objectives of the firm has occupied more importance. Now a days, the combined role of accounting and finance has assumed more importance than the individual role of accounting. 1 INTRODUCTION Accounting is the language of business.