By Rama Gopal, CA. C
Scholars from various backgrounds like Engineering, Pharmacy, Arts and organic Sciences subscribe to 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, comprehend the basics of accounting and begins with the education of monetary statements. so much scholars retain suffering from accounting, hoping to go someway. 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 complicated topic ``Financial Management`` within the subsequent semester.
This booklet starts off with basics. Emphasis is to transparent strategies in easy language. the purpose can also be to fulfill the aspirations of non-commerce scholars besides to people who couldn't examine in English medium, previous. This ebook will profit the weakest of the vulnerable and could even be a excitement for all scholars, who additionally desire to arrange 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 gains as in keeping with New trend of Exams-True or fake, decide up correct selection.
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Extra resources for Accounting for Managers
12 months 2. Money measurement 5. Basic assumptions 6. Materiality 3. Separate entity concept 4. Realisation concept 8. Capital (D) Point out the incorrect equation (a) (c) Assets = Liabilities + Capital Liabilities = Assets + Capital (b) Assets = Capital + Liabilities (d) Capital = Assets – Liabilities Ans. (c) Descriptive Questions 1. 2. 3. 4. 5. 6. What is meant by “Generally Accepted Accounting Principles”? Describe the characteristics the Accounting Principles should have for uniform acceptance.
Ii) 5. (ii) (C) Match the following 1. 2. Accounting period consists of ................... The qualitative aspect of the business is not recorded in the books of accounts according to the basic assumption of ................... Capital Separate entity concept Generally Accepted Accounting Principles 3. 4. 5. 6. 7. 37 Treatment of capital in the books of the firm as liability observes the accounting assumption of ................... A sale is recorded as soon as agreement is made, which is a violation ...................
This may also lead to a different figure of profit or loss being shown by different persons. Thus, the profit figure cannot be treated as exact. (ii) Financial Accounting does not indicate what the business will realise, if sold It is not to be presumed that the balance sheet shows the amount of cash, which the firm may realise, by the sale of all the assets. This is because fixed assets are not meant for sale. They are purchased for the purpose of carrying on the business. They are meant for use to earn profit and are shown at cost less depreciation that has been written off.