BASIC ACCOUNTING TERMS

 

BASIC ACCOUNTING TERMS

Capital: iw¢th [kkrk% tc ubZ dEiuh [kksyh tkrh gS rks bls Credit dj nsrs gSA tc dEiuh cUn dh tkrh gS rks bls Debit dj nsrs gSaA

Cash/ Bank: uxn@cSad [kkrk% tc vkrk gS rks mls MsfcV dj nsrs gS] tc tkrk gS rks mls ØsfMV dj nsrs gSaA

Purchase: Ú; [kkrk% tc ,slk lkeku ftls cspus ds fy, [kjhnk tkrk gS rks mls MsfcV dj nsrs gS] fdUrq tc dEiuh dk ekfyd vFkok dEiuh dk deZpkjh mlh lkeku dks vius fy, ysrk gS rks mls ØsfMV dj nsrs gSA

Sales: foÚ; [kkrk% tc lkeku cspk tkrk gS rks mls ØsfMV dj nsrs gSA

Purchased from abc: abc ls [kjhnk x;k

pqr Purchased: pqr us [kjhnk&vkius cspk

Sold to: dks cspk x;k

Received from def : def ls izkIr fd;k

Paid to xyz : xyz dks fn;k

Cash Sales: uxn cspk               Credit Sales: m/kkj cspk

Cash Purchase: uxn [kjhnk         Credit Purchase: m/kkj [kjhnk

Goods worth: lkeku ftudh dher   Outstanding: cdk;k

Full settlement/ settling in full: ,deq'r esa [kRe djuk ¼iwjk iSlk ,dckj esa nsuk ;k ysuk½

Deposited: tek djuk              Withdrawal/ withdrawn: fudkyuk

Personal Use: futh [kpZ gsrq         Wages: etnwjh

Freight: HkkM+k                      Recieved: izkIr fd;k

Debtor:  nsunkj ¼cdk;snkj ftlls iSlk ysuk gSA½

Creditor: ysunkj ¼ftldkss iSlk nsuk gSA½

Paid via/ through Cheque: psd }kjk Hkqxrku fd;k

 

Accounts: [kkrk ¼en½          Accounting: [kkrksa ij dk;Z djuk

Accountancy: [kkrksa dh i<+kbZ    Accountant: [kkrksa ij dk;Z djus okyk

HOW YOU MAINTAIN YOUR ACCOUNTS (PRESENTLY)

Received from Father/ Mother/ Friends/Salary/ Business  1,000.00 Books    200.00 Fees   400.00 Magzine   50.00 Food    50.00 Balance after expenses  300.00

Earnings from Legal work is only Maintained in Accountancy

(Legal by our Laws i.e. Constitution)

	RELATIVES
SELF	PROFIT	GOVT. (TAX)
	BANK (Loan)

Bank Provides loans to organisations, individuals to grow his Assets & Company. These loans are divided into E.M.I. (Easy monthly installments) so that individual can easily pay the same.

 

HOW TO CALCULATE PROFIT? (Formula)

Gross Profit ¼ldy ykHk½  = Sales + Closing Stock - Opening Stock - Purchase - Direct Expense ¼cukdj csp jgs gSA½

Nett Profit ¼'kq) ykHk½ = Gross Profit + Income From Other Sources - Indirect Expenses - Depreciation ¼âkl½

Sales- Tables, Chairs, etc., Closing Stock- Table, Chairs, Fevicol, Board, etc., Opening Stock- closing stock of last year, Purchase- Board, Fevicol, Nail, etc., Direct Expense- Wages, Freight, etc. Income From other sources- Interest from bank, Commission, etc., Indirect Expense- Advertisement, Salary, Rent of Shop, etc. Depreciation- amount dedcuted from the original value of assets in particular percentage per year (loss). Product we work on is included in our sales and purchase expenses before sales are direct expenses, expenses after sales or for sales are indirect expenses, Income from other sources are rent of building, commission, interest from bank, etc.

CAPITAL + LIABILITIES =  ASSETS  (iw¢th $ nkf;Ro = lEifÛk)

DOUBLE ENTRY SYSTEM - EVERYTHING HAS TWO ASPECTS

ACCOUNTANCY ¼,dkmUVsUlh½

     :i;s&iSls ds ysu&nsu ds ckjs esa fu;ec) rjhds ls fy[kuk ,dkmUVl dgykrk gSA VSyh tkuus ds igys ,dkmUVl ds fu;eksa dk tkuuk vko';d gSA ,dkmUVl fy[kus ds rhu fu;e gSA

igyk fu;e	nwljk fu;e
Debit what comes in Credit what goes out tks vkrk gS oks MsfcVA tks tkrk gS oks ØsfMVA	Debit the reciever Credit the giver tks ikrk gS oks MsfcVA tks nsrk gS mls ØsfMVA
rhljk fu;e
Debit all losses & expenses (uqDlku o [kpkZ dks MsfcV djrs gSA)  Credit all profit & gains (Qk;ns o vkenuh dks ØsfMV djrs gSA)

 

DEBIT	CREDIT
uxn@cSad vkrk gS Cash/Bank	uxn@cSad tkrk gS Cash/Bank
Purchase [kjhnrs le;	Purchase return [kjhnk lkeku okil djus ij
Sales return cspk lkeku okil vkus ij	Sales csprs le;
	Purchase tc dEiuh dk ekfyd Lo;a ds fy, lkeku ?kj ys tk;s
COMPUTER, FRIDGE, TV, FURNITURE, CAR, AC, LAND, BUILDING (Assets)  [kjhnrs le;	COMPUTER, FRIDGE, TV, FURNITURE, CAR, AC, LAND, BUILDING (Assets)  csprs le;
Investments djrs le;	Investments fudkyrs le;
ikrk gS	nsrk gS
DEBTOR lkeku [kjhnus okyk] tc lkeku [kjhnrk gS rks Dr. gksrk gSA	CREDITOR tc lkeku csprk gS] rks Cr. gksrk gSA
CREDITOR iSlk ikus okyk	DEBTOR iSlk nsus okyk
DRAWING ¼vkgj.k½	CAPITAL (OWNER)
[kpZ @ uqDlku	vkenuh @ Qk;nk
Discount Paid NwV nh	Discount Received NwV yh
Profit & Loss lEifÙk cspus ij uqDlku esa	Profit & Loss lEifÙk cspus ij Qk;nk esa
Interest, Salary, Commission, Wages, Freight, etc. nsus ij	Commission, Rent, Salary, Interest feyus ij

 

Transaction	Debit	Credit
Ram started business with Cash 5000	Cash	Capital
Ram started business with Furniture 5000	Furniture	Capital
Purchased goods for Cash 5000	Purchase	Cash
Purchased goods from Raja for Rs. 5000	Purchase	Raja
Sold goods for Cash 5000	Cash	Sales
Sold goods to Ramesh 4000	Ramesh	Sales
Raja was paid 4750 in full settlement	Raja	Cash, D. R.
Ramesh paid 3800 in full settlement	Cash, D. P.	Ramesh
Raju was given Salary/ Rent  2000	Salary / Rent	Cash
Commision was received from Raju 500	Cash	Commission
Purchased Furniture for Cash 5000	Furniture	Cash
Sold furniture for 4500 worth 5000	Cash, P&L A/c	Furniture
Sold investment for Rs.10500 which was purchased for Rs.10000	Cash	Investment, P&L A/c
Ram took Cash/Goods for Personal Use	Drawing	Cash/Purchase

D.R.=Discount Received, D. P.=Discount Paid, P&L A/c = Profit & Loss Account