What do you mean by trial balance? What are its objects and functions?.What is meant by balancing of accounts? Why an account is balanced?.What are the advantages of keeping ledger?.Define the purpose of maintaining subsidiary books.If you have already studied the financial accounting notes, then it’s time to move ahead and go through previous year financial accounting question papers. Introduction to Company Accounts: Introduction, Kinds of Companies, Formation of Companies, Share Capital, Issue of Shares, Under Subscription & Oversubscription, Issue of Shares at Premium & Discount, Buyback of Shares and Treasury Stock, Accounting Treatments and Ledger Preparation.Ĭompany Accounts: Introduction, Forfeiture of Shares, Reissue of Shares, Issue of Bonus Shares, Rights Issue, Share Split, Buy Back of Shares, Redemption of Preference Shares, Debenturesįinancial Accounting Questions and Answers Accounting Principles: International Accounting Standards (only outlines) Accounting principles Accounting Standards in IndiaĪccounting transactions: Accounting Cycle Journal Rules of debit and credit Compound journal entry Opening entry Relationships between Journal and Ledger Rules regarding posting Trial balance Subdivisions of a journal.Ĭapital and Revenue: Classification of income Classification of expenditure Classification of receipts Accounting concepts of income Accounting concepts and income measurement Expired costs and income measurement Final Accounts Manufacturing account Trading account Profit and loss account Balance Sheet Adjustment entries, Rectification of errors Classification of errors Location of errors Suspense accounts Effects on profit.ĭepreciation Provisions and Reserves: Concept of depreciation Causes of depreciation Depreciation, depletion, amortization, and dilapidation Depreciation accounting Methods of recording depreciation Methods for providing depreciation Depreciation of different assets Depreciation of replacement cost Depreciation accounting as per accounting standard Depreciation accounting Provisions and reserves

Financial accounting pdf notes