DOWNLOAD HERE JKSSB ACCOUNTANCY OFFICIAL eBOOK with SOLVED MCQs By CA MOHAMMED LATEEF
STRICTLY AS PER JKSSB REVISED SYLLABUS
Table of Contents
1. Introduction to Accounting
2. Basic Accounting Terms…
3. Accounting Concepts
4. Accounting Equation
5. Double Entry System of Accounting, Journal & Rules of Journalizing
6. Voucher Approach in Accounting
7. Ledger Accounts
8. Subsidiary Books
9. Cash Book
10.Trial Balance
11.Financial Statements
12.Trading Account
13.Profit & Loss Account
14.Balance Sheet
15.Bank Reconciliation Statement
16.Partnership Accounts
17.Cash Based Single Entry System of Accounting
18.Financial Management
19.Financial Audit
20.Social Accounting
21.Social Audit
22.Public Financial Management System (PFMS)
23.Multiple choice questions (300 MCQ’s)
24.Answer key of MCQ’ss
CHAPTER 1 | Introduction to Accounting
Every Individual performs some kind of economic activity. A salaried person gets salary and spends to buy Grocery and clothing, for children’s education, construction of house, etc. A business run by an individual or a group of individuals also carries many economic activities like purchase of goods, sale of goods, payment of shop rent, payment of salaries to employees etc. Similarly, a government raises money through taxes and spends on various developmental activities. Everybody wants to keep record of its transactions to have adequate information about the economic activities it undertakes so that these records help it in its decision making. For Example, the salaried person would like to know to whom he owes money, to whom he has given the money. A business would like to know whether it has earned profit or incurred loss and to whom it has sold goods on credit and from whom money is to be recovered. Government would like to know whether it is in surplus or it runs in deficit. Accounting discipline has been developed to serve this purpose as it deals with the measurement of economic activities involving inflow and outflow of economic resources, which helps to develop useful information for decision-making process. Accounting has a universal application for recording transactions and events and presenting suitable information to aid decision-making regarding any type of economic activity ranging from a family function to functions of national government. But hereinafter we shall concentrate only on business activities and their accounting as this book is made in line with the syllabus prescribed for your exam. “The history of accounting is as old as human civilisation. The seeds of accounting were most likely first sown in Babylonia and Egypt around 4000 B.C. who recorded transactions of payment of wages and taxes. Historical evidences reveal that Egyptians used some form of accounting for their treasuries where gold and other valuables were kept.” Meaning of Accounting Accounting is an art of recording, classifying, and summarising in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof’. The process of accounting starts by first identifying the events & transactions which are of financial nature and then these transactions are recorded in the books. This recording is done in Journal or subsidiary books, also known as primary books.
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