accounting for business 21 october ii

www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

ACCOUNTING FOR BUSINESS AFTERSCHO☺OL – DEVELOPING CHANGE MAKERS

CENTRE FOR SOCIAL ENTREPRENEURSHIP PGPSE PROGRAMME –

World’ Most Comprehensive programme in social entrepreneurship & spiritual entrepreneurship

OPEN FOR ALL FREE FOR ALL

ACCOUNTING FOR BUSINESSDr. T.K. Jain.

AFTERSCHO☺OLCentre for social entrepreneurship

Bikaner M: 9414430763tkjainbkn@yahoo.co.in

www.afterschool.tk, www.afterschoool.tk

Mention the types of errors in accounting?

1. Errors of omission2. Error of commission3. Error of principles4. Compensatory errors

I gave payment of Rs. 3000 as advance to Ram, who is our

employee, however, I wrote it as salary, is it error – if yes – of what

type: • It is error of principles : • Ram (Advance against salary) Dr. • To Salary Account

Ram suffered loss of Rs. 10 Lakh from fire. His insurance property was of Rs. 20 Lakh, but he got insurance for only Rs. 10 lakhs. How much claim will he get?

• 10 * 10/20 = 5 Lakhs answer.

Solve it..• A fire occurred on 1 July, 2007, in the premises

of Chaturvedi Ltd. and business was disorganised upto 30 Nov. From the books of account, the following information was extracted

• Actual turnover from 1 July, 20DT 30 November, 2007 Rs. 60000

• Turnover from 1 July, 2006 to 30 Nov 2006 : Rs. 2 Lakh

• Net profit for the last accoyear 90000• Turnover during last accounting year 5 Lakh. It is

expected that business will increase by 20% this year

Solution

• 200000 + 40000 = 240000• Sale during this period = 60000• Turnover during last year: 5.5 Lakhs. • GP rate : 150000/550000 *100 = 27.27%• Loss of GP this year: 180000*27.27% =

49086 claim amount.

Right issue is given to ?

• Existing shareholders . • What is notice period: at least 15 days

(with minimum30 days and maximum 60 days open).

• What will happen – if shareholders don’t take rights issue – the directorys can decide.

We purchased an asset for Rs. 10 Lakh, its life is 10 years, its residual value is Rs. 1 lakh. What should be

WDV depreciation rate?

• 1 – (1/10)^(1/10)• =20.5 % answer.

What is sweat equity share?

• It is a bonus share to the employees and directors

What is D- Mat of share?

• Where share are converted into electronic form, it is called Dematerialisation of share. NSDL, CDSL are the main bodies doing D-mat of shares.

Which of these is revenue expenditure?

• Installation charges of Machinery :• (no – it is capital expenses)• Advertisement of Rs. 50 Lakh• (no – it is deferred revenue expenses)• Repairs of Building by Rs. 1 Lakh• (yes)• Repairs to plant, which will increase production

capacity by 2 times. (No – it is capital expenditure – because the capacity is being increased).

Which of these is capital expenditure?

• Salary of Rs. 40000• (no – it is revenue)• Preliminary expenditure of Rs. 3 Lakh• (no – it is deferred revenue expenses)• Construction of temporary sheds • (Yes - capital expenditure)• Legal expenses to protect Patent• (revenue expenses)

ABOUT AFTERSCHO☺OL

Afterschoool conducts three year integrated PGPSE (after class 12th along with IAS / CA / CS) and 18 month PGPSE (Post Graduate Programme in Social Entrepreneurship) along with preparation for CS / CFP / CFA /CMA / FRM. This course is also available online also. It also conducts workshops on social entrepreneurship in schools and colleges all over India – start social entrepreneurship club in your institution today with the help from afterschoool and help us in developing society.

Why such a programme?

• To promote people to take up entrepreneurship and help develop the society

• To enable people to take up franchising and other such options to start a business / social development project

• To enable people to take up social development as their mission

• To enable people to promote spirituality and positive thinking in the world

Who are our supporters?

• Afterschoolians, our past beneficiaries, entrepreneurs and social entrepreneurs are supporting us.

• You can also support us – not necessarily by money – but by being promotor of our concept and our ideas.

About AFTERSCHO☺OL PGPSE – the best programme for developing great

entrepreneurs• Most flexible, adaptive but rigorous programme• Available in distance learning mode• Case study focused- latest cases • Industry oriented practical curriculum• Designed to make you entrepreneurs – not just

an employee• Option to take up part time job – so earn while

you learn • The only absolutely free course on internet

Workshops from AFTERSCHO☺OL

• IIF, Delhi• CIPS, Jaipur• ICSI Hyderabad Branch• Gyan Vihar, Jaipur• Apex Institute of Management, Jaipur• Aravali Institute of Management, Jodhpur• Xavier Institute of Management, Bhubaneshwar • Pacific Institute, Udaipur• Engineering College, Hyderabad

Flexible Specialisations:• Spiritualising business and society• Rural development and transformation• HRD and Education, Social Development• NGO and voluntary work• Investment analysis,microfinance and inclusion • Retail sector, BPO, KPO• Accounting & Information system (with CA / CS /CMA)• Hospital management and Health care• Hospitality sector and culture and heritage• Other sectors of high growth, high technology and social

relevance

Salient features:• The only programme of its kind (in the whole world)• No publicity and low profile course• For those who want to achieve success in life – not just a

degree• Flexible – you may stay for a month and continue the rest of

the education by distance mode. / you may attend weekend classes

• Scholarships for those from poor economic background• Latest and constantly changing curriculum – keeping pace

with the time• Placement for those who are interested• Admissions open throughout the year • Latest and most advanced technologies, books and study

material

Components • Pedagogy curriculum and approach based on IIM Ahmedabad and ISB

Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad)• Meditation, spiritualisation, and self development • Essential softwares for business• Business plan, Research projects• Participation in conferences / seminars• Workshops on leadership, team building etc. • Written submissions of research projects/articles / papers• Interview of entrepreneurs, writing biographies of entrepreneurs• Editing of journals / newsletters• Consultancy / research projects • Assignments, communication skill workshops• Participation in conferences and seminars• Group discussions, mock interviews, self development diaryng • Mind Power Training & writing workshop (by Dr. T.K.Jain)

Pedagogy • Case analysis,• Articles from Harvard Business Review • Quiz, seminars, workshops, games, • Visits to entrepreneurs and industrial visits• Presentations, Latest audio-visuals• Group discussions and group projects• Periodic self assessment• Mentoring and counselling• Study exchange programme (with institutions out of

India)• Rural development / Social welfare projects

Branches

• AFTERSCHO☺OL will shortly open its branches in important cities in India including Delhi, Kota, Mumbai, Gurgaon and other important cities. Afterschooolians will be responsible for managing and developing these branches – and for promoting social entrepreneurs.

Case Studies

• We want to write case studies on social entrepreneurs, first generation entrepreneurs, ethical entrepreneurs. Please help us in this process. Help us to be in touch with entrepreneurs, so that we may develop entrepreneurs.

Basic values at AFTERSCHO☺OL

• Share to learn more• Interact to develop yourself• Fear is your worst enemy• Make mistakes to learn • Study & discuss in a group• Criticism is the healthy route to mutual support

and help • Ask fundamental questions : why, when, how &

where?• Embrace change – and compete with yourself

www.afterschoool.tk social entrepreneurship for better

society

accounting for business 21 october ii

Education

b.com. i year commerce paper ii: financial …...paper ii:...

ch 12: payroll accounting ms. alltucker accounting ii

accounting & financial analysis ii

accounting for business 10 october

accounting principles ii

act506: advanced accounting ii

tfin22_2 management accounting ii

cpa - practical accounting ii

accounting ii solution complete

accounting vol. ii

project accounting ii manual

basic accounting ii (baii)

course syllabus principles of accounting ii (managerial ......

3305 intermediate accounting ii

accounting for business 31 october

cost accounting vol. ii

4. financial accounting ii

b.com – ii – cost accounting

502a - corporate accounting - ii

specification - as/a level accounting · qualifications...