Accountancy Master Class | Class 11

This Master Class, we are preparing for accounts foundation and also its implementation in advance level. 

The Folowing are the topics to be cover in our free Master Class

• Introduction to Accounting

• Theory Base of Accounting

• Recording of Transactions

• Preparation of Bank Reconciliation Statement, Ledger and Trial Balance

• Depreciation, Provisions and Reserves

• Accounting for Bills of Exchange

• Rectification of Errors

Unit 3: Financial Statements of Sole Proprietorship

Financial Statements: objective and importance.

Trading and profit and loss account: gross profit, operating profit and net profit.

Balance Sheet: need, grouping, marshalling of assets and liabilities.

Adjustments in preparation of financial statements : with respect to closing stock, outstanding expenses, prepaid expenses, accrued income, income received in advance, depreciation, bad debts, provision for doubtful debts, provision for discount on debtors, manager's commission, abnormal loss, goods taken for personal use and goods distributed as free samples.

Preparation of Trading and Profit and Loss Account and Balance Sheet of sole proprietorship.

Incomplete records: use and limitations.

Ascertainment of profit/loss by statement of affairs method.

Unit 5: Computers in Accounting