Accounting for Not-for-Profit Organisation Class 11 Notes Accountancy Chapter 16 There are certain institution or organization which are set-up not to earn a profit, but for providing service to its members and the public in general. The main aim of these institutions or organizations is rendering service to their members and public, but not the…
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Accounting System Using Database Management System Class 11 Notes Accountancy Chapter 15 A Database Management System (DBMS) is essentially a collection of inter-related data and |set of programmes to access this data. This selection of data is usually called the database. It can be regarded as an electronic filing cabinet. Relational Database Management System (RDBMS)…
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Structuring Database for Accounting Class 11 Notes Accountancy Chapter 14 As we know that the working and success of any business is based on lots of information. Every business enterprise needs ready answers to lots of its queries. For this, it requires a proper system that readily provides an accurate and prompt answer to its…
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Computerised Accounting System Class 11 Notes Accountancy Chapter 13 Accounting is called the language of business. It communicates financial information to a variety of users by preparing financial reports. It is considered as a system that collects and processes financial information of an enterprise and reports that information to users to enable them to make…
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Applications of Computers in Accounting Class 11 Notes Accountancy Chapter 12 Computers are becoming indispensable in our day-to-day life. It has brought a complete revolution in every sphere of human activity. It becomes an essential tool of today’s society. Examples of their increasing uses are; reservation in railway and air tickets, to forecast weather, preparing…
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Accounts from Incomplete Records Class 11 Notes Accountancy Chapter 11 Generally, business transactions are recorded on the basis of the double-entry system of bookkeeping. Sometimes rules of the double-entry system are not followed for recording business transactions. When a double entry system is not followed for maintaining records, these records are turned into incomplete records.…
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Financial Statements 2 Class 11 Notes Accountancy Chapter 10 The businessman, first of all, enters his transactions in the books of original entry, then prepares ledger to know its combined effect and, then prepares Trial Balance to test for accuracy of foe ledger posting. With the help of Trial Balance, he prepares Final Accounts. Jb…
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Financial Statements 1 Class 11 Notes Accountancy Chapter 9 Meaning of Financial Statements: When the business enterprise satisfies itself with the agreement of trial balance, then they proceed to prepare the financial statements for their business. Now they are interested to know whether they have earned profit or incurred losses during the accounting period. They…
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Bills of Exchange Class 11 Notes Accountancy Chapter 8 When goods are sold or bought for cash, payment is received immediately whereas when goods are sold or bought on credit the payment is deferred to a future date. In such a case, the seller would like to get a written undertaking from the buyer to…
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Depreciation, Provisions and Reserves Class 11 Notes Accountancy Chapter 7 SECTION-1 (Depreciation) The term ‘Depreciation’ means a decline in the value of fixed assets due to use, the passage of time, or obsolescence. an accounting item, depreciation is that part of the cost of a fixed asset that has expired on account of its usage…
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