Book Keeping

  • In this course, ZCC Group provide you Introduction to bookkeeping and accounting. By conducting the course, you will build skills for bookkeeping and accountancy. You will gather practical skills in numeracy, and you will also be capable to count basic calculations easily at even your fingertips. You will learn fundamental principals of bookkeeping and accounting, and also learn to prepare a trial balance and two principal financial statements.

  • Business Balance

Introduction to Book Keeping and Accountancy

Book Keeping: Meaning, Definition and Process.

Accountancy: Definition, Characteristics, Difference between Book-keeping and Accountancy, Accountancy as Science and Art, Objectives and Advantages of Book-keeping and Accountancy.

Basic Accounting Terminology: Business Transactions, Assets, Capital, Equity or Liability, Final Accounts, Accounting Equation, Goods, Cost, Purchases, Sales, Purchases and Sales Return, Stock, Expenses, Loses, Profit, Income, Debtors, Creditors, Receivables, Payables, Proprietor, Drawings, Accounting Year, Entry, Vouchers, Insolvent, Solvent, Gain and Expenditure.

Basic Accounting Concepts

Basic Accounting: Business Entity, Money Measurement, Going Concern, Accounting Period, Dual Aspect.

Double Entry System: Meaning, Features, Advantages and Disadvantages

Basic of Accounting: Cash Basis and Accrual Basis

Source Documents and Accounting Equation

Origin of Transaction, Source Documents/ Vouchers

Source Documents: Cash memo, Invoice and Bills, Receipt, Pay-in-Slip, Cheques and others.

Vouchers: Contents of Accounting Vouchers, Types of Vouchers.

Rules of Debit-Journal

The concept of Debit and Credit, Definition of Debit and Credit Accounting Equation.

Books of Original Entry: Meaning, Rules of Debit and Credit Accounting Equation, Traditional Rules of Debit and Credit.

Journal: Journal Entries, Analysis of Transactions, and limitations of Journal.

Non-Cash Transactions-Subsidiary Books

Subsidiary Books: Meaning and Advantages

Classification of Non-Cash Transactions: Special Journal, Purchases Book, Sales Book, PUrchases Return Book, Sales Return Book, Debit and Credit Note, Journal Proper.

Ledger Accounts

Meaning, Advantages, Classification. Ledger Posting from Journal Entries. Balancing of Ledger Accounts, Cash Book, PUrchase Book, Sales Book. Summary of Rules of Posting from Subsidiary Books.

Trial Balance

Meaning, Features, Purpose, Limitations and Format

Methods of Preparing Trial Balance: Balance Method, Totial Method, TOtal and Balance Method. List of Important Accounts and their Balances.

Final Accounts (Without Adjustments)

Final Accounts: Meaning and Limitations

Trading Account: Meaning and Need, and Purpose

Final Accounts (With Simple Adjustments)

Adjustments in the preparation of Final Accounts- Depreciation in the value of Assets, Appreciation in the value of Assets, Outstanding expenses, Prepaid expenses, Accrued or Outstanding income, Unearned income, Interest on Capital, Interest on Drawings, Interest on Loan, Bad Debts, Provision of Bad and Doubtful Debts, Further Bad Debts, Provision for Bad and Doubtful Debts, Provision for Discou nt on Debtors, Closing Stock, Summarised Presentation of Adjustment, A large number of suitable illustrations.

Bank Reconciliation Statement and Three Column Cash Book

Bank Reconciliation Statement: Meaning, Need and Preparation, Causes responsible for the difference between balances of Cash book and Pass Book, Steps for the preparation of Bank Reconciliation Statements, Plus and Minus Balances, Summarised Table for the Preparation of BR’s. Important Notes, Cash Book with Discount Column; Cash Book with Discount and Bank Column, Contra Entries, A large number of suitable illustrations.

Bills of Exchange

Bills Exchange: Meaning, Characteristics

Parties: Drawer, Drawee and Payee, Specimen, Elements and Advantages

Promissory Notes; Meaning, Special features

Parties: Maker and Payee, Advantages, Difference between Bills of Exchange and Promissory Notes, Accounting Treatment of Bills and Exchanges, Endorsement of the bill and its accounting treatment, Discounting of the bill, Retiring a bill under rebate, Dishonour of the bill,

Errors and their Rectification

Errors: Meaning, Types of Errors, Errors of Omission, Errors in the Subsidiary books and their rectification, Errors of Principles, Compensating Errors

Suspense Account: Meaning, Utility and Treatment, Summarised presentation of Errors and their logical rectification. A large number of suitable illustrations.

Depreciation

Meaning, and Special features, certain specific words- Obsolesence, Depletion, Amortisation and fluctuation, causes, objectives and factors affecting Depreciation

Methods of Calculating Depreciation: Straight Line Method and its advantages, disadvantages and uses, Dimishing balance method and its advantages, disadvantages and uses, Difference between straight line method and Dimishing balance method, A large number of suitable illustrations.