Accounting Bookkeeping Presentation ppt Final

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Basic Accounting Principles andConcepts1. Business EntityA business is considered a separate entity from the owner(s) andshould be treated separately. Any personal transactions of itsowner should not be recorded in the business accountingbook unless the owner’s personal transaction involves addingand/or withdrawing resources from the business.2. Going ConcernIt assumes that an entity will continue to operate indefinitely. Inthis basis, generally, assets are recorded based on their originalcost and not on market value. Assets are assumed to be heldandused for an indefinite period of time or during its estimateduseful life. And that assets are not intended to be soldimmediately or liquidated.www.avconsultantshyd.com
Page 1 and 2: TaxationandFinancial Serviceswww.av
Page 3 and 4: ACCOUNTING AND BOOKKEEPINGI. Introd
Page 5 and 6: Recording-thisfunction deals withth
Page 7: Importance1. To have a complete rec
Page 11 and 12: 6. Accounting PeriodThis principle
Page 13 and 14: Accounting EquationASSETS=LIABILITI
Page 15 and 16: www.avconsultantshyd.com
Page 19 and 20: 1. Analysis ofbusinesstransactionsA
Page 21 and 22: 4. Preparation of Trial BalanceIt i
Page 27 and 28: 8. Make Closing EntriesThe books of
Page 31 and 32: Basic Financial Statements1. Statem

Accounting Bookkeeping Presentation ppt Final

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