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Meaning, Objectives and Terminology of Accounting.

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Presentation on theme: "Meaning, Objectives and Terminology of Accounting."— Presentation transcript:

1 Meaning, Objectives and Terminology of Accounting

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10 Book keeping involves JournalisingPosting to ledger Totalling of accounts Balancing of accounts Accounting involves Preparation of Trial Balance Preparation of Trading and Profit and Loss account Preparation of Balance Sheet Making of Rectification and adjustment entries

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14 TRADING ACCOUNT 4 PROFIT AND LOSS ACCOUNT 5 BALANCE SHEET (CLOSING) 6 TRANSACTIONS JOURNAL 1 LEDGER 2 TRIAL BALANCE 3 BALANCE SHEET (OPENING)

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48 Thank You

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