Trial Balance and Rectification of Errors Class 11 Notes Accountancy Chapter 6 Meaning of Trial Balance A trial balance is a statement showing the balances, or total of debits and credits, of all the accounts in the ledger with a view to verify the arithmetical accuracy of posting into the ledger accounts. “The statement prepared…
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Bank Reconciliation Statement Class 11 Notes Accountancy Chapter 5 We know that Banks provide very important financial services in modern society. These days a large number of cash transactions are in fact passed through banks. Usually, all the business firms open a current account with a bank, and in order to record the transactions entered…
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Recording of Transactions 2 Class 11 Notes Accountancy Chapter 4 A small business may be able to record all its transactions in one book only, i.e., the journal. But as the business expands and the number of transactions becomes large, it may become cumbersome to journalize each transaction. For the quick, efficient, and accurate recording…
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Recording of Transactions 1 Class 11 Notes Accountancy Chapter 3 As we know that, accounting involves a process of identifying and. analyzing the business transactions, recording them, classifying and summarising their effects, and finally communicating it to the interested users of accounting information. Now, we will discuss the details of each step involved in the…
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Theory Base of Accounting Class 11 Notes Accountancy Chapter 2 Accounting aims at providing information about the financial performance of a firm to its various users. Accounting information must be reliable and comparable based on some consistent accounting policies, principles, and practices. This calls for developing a proper theory base of accounting. The importance of…
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Introduction to Accounting Class 11 Notes Accountancy Chapter 1 In the period when ownership and management were treated, the prime objective of accounting was to ascertain profit and loss and the financial position of the enterprise. In the modern world, the growth of business required large investments and this brought in the period when ownership…
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NCERT Class 11 Accountancy Notes | Accounts Class 11 Theory Notes Class 11 Accounts Notes: Financial Accounting Part 1 Chapter 1 Introduction to Accounting Class 11 Notes Chapter 2 Theory Base of Accounting Class 11 Notes Chapter 3 Recording of Transactions 1 Class 11 Notes Chapter 4 Recording of Transactions 2 Class 11 Notes Chapter…
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