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21 AUGUST ACCOUNTANCY FOR BUSINESS by afterschool

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									ACCOUNTANCY FOR BUSINESS
AFTERSCHO☺OL –
DEVELOPING CHANGE MAKERS CENTRE FOR SOCIAL ENTREPRENEURSHIP PGPSE PROGRAMME – World’ Most Comprehensive programme in social entrepreneurship & spiritual entrepreneurship OPEN FOR ALL FREE FOR ALL

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

ACCOUNTANCY FOR BUSINESS Dr. T.K. Jain.
AFTERSCHO☺OL
Centre for social entrepreneurship Bikaner M: 9414430763 tkjainbkn@yahoo.co.in www.afterschool.tk www.afterschoool.tk
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WHO SIGNS PROMISSORY NOTE?
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PROMISER

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

I DRAW A BILL ON RAM, ENDORSE IT RAHIM, WHO ENDORSE IT TO MOHAN. WHO IS PAYEE, AND WHO IS PAYER?
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PAYEE IS MOHAN PAYER IS RAM

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

WHEN SHOULD WE GO TO NOTARY PUBLIC FOR BILLS?
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WHEN BILL IS DISHONOURED

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

CAN DRAWEE AND PAYEE BE SAME PERSON?
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YES - IN CASE OF PROMISSORY NOTE, IT DRAWEE MAY HOLD NOTE TILL MATURITY AND DRAWEE AND PAYEE WILL BE SAME.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

CAN DRAWER AND PAYEE BE SAME PERSON?
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YES – IN CASE OF BILL, THE DRAWER MAY HOLD THE BILL TILL MATURITY AND BECOME THE PAYEE

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

The total of sale or return day book is transferred to .. .?
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Sale or return register.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

What are the columns on sale or return journal?
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These are : Goods sent on approval column Goods approved column Goods returned column

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

I have sent goods on sale or return basis on 1 August. On 31 march I reverse this entry. The customer returns the goods on 1 April. What entry should I pass now?
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No entry is necessary – as I have already passed the reverse entry

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

In my sale or return register, the total of sent on approval is 12000, returned total is 2000, approved total is 5000. what is the balance of sent on approval?
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(12000 – 2000-5000) =5000 answer.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

I draw a bill on Ankit for Rs. 50000 for 3 months. We agree to share proceed equally. I get the bill discounted at 12%. How much money shall send Ankit now and how much shall I send after 3 months ?
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It is an accommodation bill. I get (500001500) = 48500. this amount has to be shared equally. I have to send 24250 immediately to Ankit and after 3 months, I shall send Rs. 25000 to Ankit. (ans).
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I have send Rs. 50000 to Ankit on 30 March on sale or return basis. (I rarely send goods on sale or return). Ankit approves half of the items on 31 March and for other half, he gives approval for 50% & rejects the rest on 1 April. When and what will I record? (GP Ratio 25%)
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30 March: Ankit Dr & Sales Credit 50000 31.3: Sales Dr. Ankit Cr 25000 31.3 Stock with customers. Dr. Trading credit 20000 1.4 trading dr. stock with customers. cr20000 1.4. Ankit dr. sales cr. 12500 (ans. ).

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

I am a partner, can I buy building for my firm, without concent of other partners?
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No

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

I am a partner, can I buy goods for my firm, without concent of other partners?
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Yes

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

I am a partner, can I appoint a clerk for my firm, without consent of other partners?
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Yes

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

I am a partner, can accept a liability in court on behalf of my firm, without consent of other partners?
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No

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

I am a partner, can I make my firm partner in another firm, without consent of other partners?
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No.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

I am a partner, can I settle with a my creditor to receive only Rs. 50000 instead of Rs. 1 lakh for my firm, without consent of other partners?
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No.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

I and Rishabh are partners, with capital in the ratio of 1:10. how will we share profit, if there is no agreement?
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Equally

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

I and Rishabh are partners, with capital in the ratio of 1:10. I further have lot of drawings. Shall I pay interest on drawings?
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NO (If there is no agreement, no interest is payable).

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Can I get partnership agreement registered?
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No – partnership deed is registered – not the partnership agreement.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Is account current a part of book of accounts?
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No (current account is part of book of accounts, not the account current).

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Ram is doing a business and shares profit / loss equally with Mohan & Ravi. Are they partners?
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Yes

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Is a partner an agent of the firm?
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Yes

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Will rent paid to partner come in P & L Appropriation account?
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No.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Will interest on capital paid to partner come in P & L Appropriation account?
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Yes

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

A,B,C have incurred loss of Rs. 90000. A has given guarantee to C. there is no other agreement. How will they share it?

A will bear Rs. 60000 and B will bear Rs. 30000. (C will not bear any loss, his share of loss will be borne by A).

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

ABOUT AFTERSCHOOOL
Afterschoool conducts three year integrated PGPSE (after class 12th along with IAS / CA / CS) and 18 month PGPSE (Post Graduate Programme in Social Entrepreneurship) along with preparation for CS / CFP / CFA /CMA / FRM. This course is also available online also. It also conducts workshops on social entrepreneurship in schools and colleges all over India – start social entrepreneurship club in your institution today with the help from afterschoool and help us in developing society.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Why such a programme?
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To promote people to take up entrepreneurship and help develop the society To enable people to take up franchising and other such options to start a business / social development project To enable people to take up social development as their mission To enable people to promote spirituality and positive thinking in the world
AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

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Who are our supporters?
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Afterschoolians, our past beneficiaries, entrepreneurs and social entrepreneurs are supporting us. You can also support us – not necessarily by money – but by being promotor of our concept and our ideas.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

About AFTERSCHOOOL PGPSE – the best programme for developing great entrepreneurs
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Most flexible, adaptive but rigorous programme Available in distance learning mode Case study focused- latest cases Industry oriented practical curriculum Designed to make you entrepreneurs – not just an employee Option to take up part time job – so earn while you learn The only absolutely free course on internet
AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

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Workshops from AFTERSCHOOOL
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IIF, Delhi CIPS, Jaipur ICSI Hyderabad Branch Gyan Vihar, Jaipur Apex Institute of Management, Jaipur Aravali Institute of Management, Jodhpur Xavier Institute of Management, Bhubaneshwar Pacific Institute, Udaipur Engineering College, Hyderabad
AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

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Flexible Specialisations:
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Spiritualising business and society Rural development and transformation HRD and Education, Social Development NGO and voluntary work Investment analysis,microfinance and inclusion Retail sector, BPO, KPO Accounting & Information system (with CA / CS /CMA) Hospital management and Health care Hospitality sector and culture and heritage Other sectors of high growth, high technology and social relevance

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Salient features:
The only programme of its kind (in the whole world)  No publicity and low profile course  For those who want to achieve success in life – not just a degree  Indepth knowledge and expertise  Professional approac: World class approach  Strong intellectual and business capabilities  Flexible – you may stay for a month and continue the rest of the education by distance mode. / you may attend weekend classes  Scholarships for those from poor economic background  Latest and constantly changing curriculum – keeping pace with the time  Placement for those who are interested  Admissions open throughout the year  Latest and most advanced technologies, books and study www.afterschoool.tk AFTERSCHO☺OL's MATERIAL material FOR PGPSE PARTICIPANTS
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Components
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Pedagogy curriculum and approach based on IIM Ahmedabad and ISB Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad) Meditation, spiritualisation, and self development Essential softwares for business Business plan, Research projects Participation in conferences / seminars Workshops on leadership, team building etc. Written submissions of research projects/articles / papers Interview of entrepreneurs, writing biographies of entrepreneurs Editing of journals / newsletters Consultancy / research projects Assignments, communication skill workshops Participation in conferences and seminars Group discussions, mock interviews, self development diaryng Mind Power Training & writing workshop (by Dr. T.K.Jain)
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Pedagogy
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Case analysis, Articles from Harvard Business Review Quiz, seminars, workshops, games, Visits to entrepreneurs and industrial visits Presentations, Latest audio-visuals Group discussions and group projects Periodic self assessment Mentoring and counselling Study exchange programme (with institutions out of India) Rural development / Social welfare projects

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Branches
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AFTERSCHOOOL will shortly open its branches in important cities in India including Delhi, Kota, Mumbai, Gurgaon and other important cities. Afterschooolians will be responsible for managing and developing these branches – and for promoting social entrepreneurs.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Case Studies
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We want to write case studies on social entrepreneurs, first generation entrepreneurs, ethical entrepreneurs. Please help us in this process. Help us to be in touch with entrepreneurs, so that we may develop entrepreneurs.

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

Basic values at afterschoool
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Share to learn more Interact to develop yourself Fear is your worst enemy Make mistakes to learn Study & discuss in a group Criticism is the healthy route to mutual support and help Ask fundamental questions : why, when, how & where? Embrace change – and compete with yourself only
AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

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www.afterschoool.tk social entrepreneurship for better society

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AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS


								
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