{"id":42,"date":"2018-05-30T05:19:20","date_gmt":"2018-05-30T05:19:20","guid":{"rendered":"http:\/\/cbitss.co.in\/blog\/?p=42"},"modified":"2018-05-30T05:19:20","modified_gmt":"2018-05-30T05:19:20","slug":"accounting-introduction","status":"publish","type":"post","link":"https:\/\/www.cbitss.co.in\/blog\/accounting-introduction\/","title":{"rendered":"Accounting Introduction"},"content":{"rendered":"<h1><span style=\"text-decoration: underline;\"><b>Introduction to Accounting<\/b><\/span><\/h1>\n<table>\n<tbody>\n<tr>\n<td><b>Objective :-<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">What is accounting?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">What is the importance of accounting?<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Definition of accounting<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Accounting rules and rewards<\/span><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>Accounting :-<\/b><\/p>\n<h3><b>Accounting<\/b><span style=\"font-weight: 400;\"> is a process that involves understanding, recording, summarizing and reporting the business&#8217;s <\/span><b>financial information<\/b><span style=\"font-weight: 400;\">, which makes it easier to make decisions in terms of financial statements.<\/span><\/h3>\n<h2><span style=\"text-decoration: underline;\"><em><b>\u00a0Advantages of Accounting :-<\/b><\/em><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Advantage of the following accounting &#8211;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">1) By accounting we can understand that there is a <\/span><b>profit<\/b><span style=\"font-weight: 400;\"> or loss in a particular period.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">2) We can understand the<\/span><b> financial<\/b><span style=\"font-weight: 400;\"> position of business<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">There are so many properties in business<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">How much is the loan on business.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">How many capital is there in business<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">3) Apart from this, keeping accounting can understand the reasons for the <\/span><b>profit<\/b><span style=\"font-weight: 400;\"> or loss of business.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With the benefits given above, we easily understand that accounting is the business&#8217;s business.\u0964<\/span><\/p>\n<h3><span style=\"text-decoration: underline;\"><b>Definition In Accounting :-<\/b><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">While learning <\/span><b>accounting <\/b><span style=\"font-weight: 400;\">, we have to use certain words regularly. So first we understand the meaning of these words &#8211;<\/span><\/p>\n<p><b>1) Goods:<\/b><span style=\"font-weight: 400;\"> &#8211; Goods are bought and sold mainly in the business. For example &#8211; in a grocery store there are soaps, oils good. Depending on the purchase of profits and the <\/span><b>sale of goods<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><b>2) Assets: &#8211;<\/b><span style=\"font-weight: 400;\"> Assets are valuable things that are necessary for business and business wealth. For example &#8211; <\/span><b>Building, Weekel, Machinery, Furniture.<\/b><\/p>\n<p><b>3) Liabilities: <\/b><span style=\"font-weight: 400;\">&#8211; Liability is given to business by others. For example &#8211; loan taken from the bank, purchase of <\/span><b>goods on credit<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><b>4) Capital: <\/b><span style=\"font-weight: 400;\">&#8211; Capital is the capital invested by the business owner. It is in the form of a capital cash, <\/span><b>goods or assets<\/b><span style=\"font-weight: 400;\">. When this capital is invested by the business owner, then according to the business, this capital is also a liability.<\/span><\/p>\n<p><b>5) Debtor: <\/b><span style=\"font-weight: 400;\">&#8211; The business which has to take a certain amount of money, is called Debtor.<\/span><\/p>\n<p><b>6) Creditor: <\/b><span style=\"font-weight: 400;\">&#8211; Those who have to pay certain amount to our business are called creditors.<\/span><\/p>\n<p><b>7) Business Transaction: &#8211; <\/b><span style=\"font-weight: 400;\">A financial event that is related to business and whose impact falls on the financial position of the company. For example &#8211; Selling goods on the purchase, salaries and credit of goods.<\/span><\/p>\n<p><b>8) Cash Transaction: &#8211;<\/b><span style=\"font-weight: 400;\"> Transactions that are made in cash are called cash transactions.<\/span><\/p>\n<p><b>9) Credit Transaction: &#8211;<\/b><span style=\"font-weight: 400;\"> The transactions that are done on the transaction credits are called credit transactions.<\/span><\/p>\n<p><b>10) Account: &#8211;<\/b><span style=\"font-weight: 400;\"> Account is a statement of any transaction, which affects any assets, liabilities, income or expense.<\/span><\/p>\n<p><b>11) Ledger: &#8211; <\/b><span style=\"font-weight: 400;\">The laser is a book in which all accounts of personal, real or nominal are held, which are in the journal of the journal or assistant.<\/span><\/p>\n<h2><b>Types of Accounts:-<\/b><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-43\" src=\"http:\/\/cbitss.co.in\/blog\/wp-content\/uploads\/2018\/05\/Accounting-1024x343.png\" alt=\"Accounting\" width=\"1024\" height=\"343\" srcset=\"https:\/\/www.cbitss.co.in\/blog\/wp-content\/uploads\/2018\/05\/Accounting-1024x343.png 1024w, https:\/\/www.cbitss.co.in\/blog\/wp-content\/uploads\/2018\/05\/Accounting-300x100.png 300w, https:\/\/www.cbitss.co.in\/blog\/wp-content\/uploads\/2018\/05\/Accounting-768x257.png 768w, https:\/\/www.cbitss.co.in\/blog\/wp-content\/uploads\/2018\/05\/Accounting.png 1031w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p><b>1) Personal Accounts: &#8211;<\/b><span style=\"font-weight: 400;\"> Accounts of all individuals, societies, trusts, banks and companies are personal accounts. For example &#8211; Rahul A \/c, Gayatri Sales A \/ c, Subodh Traders A \/ c, Bank of Maharashtra A\/c.<\/span><\/p>\n<p><b>2) Real Accounts: &#8211;<\/b><span style=\"font-weight: 400;\"> Real accounts include all Assets and <\/span><b>Goods account<\/b><span style=\"font-weight: 400;\">. E.g. &#8211; Cash A \/ c, Furniture a \/ c, Building A\/c<\/span><\/p>\n<p><b>3) Nominal Accounts:<\/b><span style=\"font-weight: 400;\"> &#8211; All the income and expenses related to the business fall under the nominal account. Eg &#8211; Salary A\/c, Rent A\/c, Commission A\/c, Advertisement A\/c, Light Bill A\/c<\/span><\/p>\n<h3><span style=\"text-decoration: underline;\"><b>Golden Rules of Accounts :-<\/b><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">While transancing, we have to decide on a <\/span><b>debit or credit<\/b><span style=\"font-weight: 400;\"> side. Here are the following rules:<\/span><\/p>\n<p><b>Personal Accounts:- <\/b><span style=\"font-weight: 400;\">Debit : The Receiver or Debtor Credit : The Giver or Creditor<\/span><\/p>\n<p><b>Real Accounts:<\/b><span style=\"font-weight: 400;\"> Debit : What comes in Credit : What goes out<\/span><\/p>\n<p><b>Nominal Accounts:<\/b><span style=\"font-weight: 400;\"> Debit : All Expenses &amp; Losses Credit : All Incomes &amp; Gains<\/span><\/p>\n<h3><span style=\"text-decoration: underline;\"><b>Double Entry System of Bookkeeping:<\/b><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Each transaction affects two businesses in two ways. for example,<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\"><b>Bought in Goods Cash &#8211;<\/b><span style=\"font-weight: 400;\"> Goods are coming into this business in this transaction but \u00a0\u00a0\u00a0\u00a0at the same time cash out of business is going out.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Dutta sold on good credit to traders &#8211;<\/b> Goods<span style=\"font-weight: 400;\"> in this transaction are going out of business and at the same time Datta traders become debtors of our business.<\/span><\/li>\n<li style=\"font-weight: 400;\"><strong>According to the double entry system &#8211;<\/strong> While recording all such business transactions in the account, there are two aspects: Debit aspect (giving) and Credit aspect (giving).<\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">CBitss Technologies is the best place that provides <\/span><a href=\"http:\/\/cbitss.co.in\/accounting-courses-in-chandigarh.html\"><b>Accounting courses in Chandigarh<\/b><\/a><span style=\"font-weight: 400;\">. <\/span><b>CBitss \u00a0Technologies<\/b><span style=\"font-weight: 400;\"> is located in the <\/span><b>beautiful city of Chandigarh<\/b><span style=\"font-weight: 400;\">. Chandigarh is the center of education, so many students from different places or states come to study and make their career bright.<\/span><\/p>\n<h3><span style=\"text-decoration: underline;\"><b>Features of Tally ERP 9<\/b><\/span><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-44\" src=\"http:\/\/cbitss.co.in\/blog\/wp-content\/uploads\/2018\/05\/Tally-training-in-Chandigarh.jpg\" alt=\"Tally training in Chandigarh\" width=\"500\" height=\"262\" srcset=\"https:\/\/www.cbitss.co.in\/blog\/wp-content\/uploads\/2018\/05\/Tally-training-in-Chandigarh.jpg 500w, https:\/\/www.cbitss.co.in\/blog\/wp-content\/uploads\/2018\/05\/Tally-training-in-Chandigarh-300x157.jpg 300w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/><\/p>\n<p><span style=\"text-decoration: underline;\"><b>New features in Tally ERP 9 have been included &#8211;<\/b><\/span><\/p>\n<p><strong>Remote Access:<\/strong><\/p>\n<p><b>Tally ERP 9 <\/b><span style=\"font-weight: 400;\">provides the ability to access data via remote from anywhere. The user creates remote user IDs from this scrawl, authorizes and removes access to remote access.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">NET (read as Tally.NET)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tally.NET creates a favorable environment by default, which works backwards to facilitate various services based on the Internet. Each <\/span><a href=\"http:\/\/cbitss.com\/blog\/tally-erp9-and-gst\/\"><b>Tally EAP9<\/b><\/a><span style=\"font-weight: 400;\"> is enabled for this .NET service. Tally.Net offers the following services \/ capabilities &#8211; Tally.NET <\/span><b>FEATURES:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Creating and maintaining a remote user<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Remote access<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Remote Center<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">sport Center<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Synchronization of data through Tally (.NET)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Product Updates and Upgrades<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> Simplified Installation process<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Tally ERP 9 comes with a new upgraded installer, which allows the user to configure different settings from the same screen as per the requirements.<\/span><\/p>\n<p><b>Control Centre<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Control Center This new feature has been included in the Tally ERP 9. This utility interfaces differently between the installed telly and the user. With the help of the control center you &#8211;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Can make a student with the predetermined security level<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Centrally Tally ERP 9 can manage and configure<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Surrender on the site, Confirm or Reject<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Can maintain account related information<\/span><\/li>\n<\/ul>\n<p><b>CBITS Technologies <\/b><span style=\"font-weight: 400;\">provides<\/span><a href=\"http:\/\/cbitss.co.in\/tally-training-in-chandigarh.html\"><b>\u00a0Tally training in Chandigarh<\/b><\/a><b>.<\/b><span style=\"font-weight: 400;\"> This is a professional course that is useful for existing <\/span><span style=\"font-weight: 400;\">Tally<\/span><span style=\"font-weight: 400;\"> users who already work on the Tally, also enhances their talent skills. Tally courses in Chandigarh are also for students going to college and professionals working in the field of <\/span><b>accounting and finance<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Introduction to Accounting Objective :- What is accounting? What is the importance of accounting? Definition of accounting Accounting rules and rewards Accounting :- Accounting is a process that involves understanding, recording, summarizing and reporting the business&#8217;s financial information, which makes it easier to make decisions in terms of financial statements. \u00a0Advantages of Accounting :- Advantage [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-42","post","type-post","status-publish","format-standard","hentry","category-blog"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Introduction of Accounting | Accounting Courses in Chandigarh<\/title>\n<meta name=\"description\" content=\"Introduction of Accounting - Accounting software, designed for non-accountants, is very easy to use. 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