Accounting Courses In Chandigarh

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ACCOUNTING COURSES IN CHANDIGARH
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• What is the procedure for accounting?
• Accounting procedures dictate how companies
  record and report their financial information.
  Generally accepted accounting principles (GAAP)
  is the leading U.S. authority for accounting
  standards in the private industry.

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• Common examples of asset accounts are cash on
  hand, cash in bank, real estate, inventory,
  prepaid expenses, goodwill, and accounts
  receivable. Liability accounts represent the
  different types of economic obligations of an
  entity, such as accounts payable, bank loans,
  bonds payable, and accrued expenses.

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• What do you mean by accounting principle?
• Accounting principles are the rules and
  guidelines that companies must follow when
  reporting financial data. The common set of U.S.
  accounting principles is the generally accepted
  accounting principles (GAAP).

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• hat is the simple meaning of accounting?It is a
  systematic process of identifying, recording,
  measuring, classifying, verifying, summarizing,
  interpreting and communicating financial
  information. It reveals profit or loss for a
  given period, and the value and nature of a
  firm's assets, liabilities and owners' equity

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• What are the steps involved in the process of
  accounting?
• Accounting Cycle Steps
• Identifying and Analyzing Business Transactions.
  The accounting process starts with identifying
  and analyzing business transactions and events.
  ...
• Recording in the Journals. ...
• Posting to the Ledger. ...
• Unadjusted Trial Balance. ...
• Adjusting Entries. ...
• Adjusted Trial Balance. ...
• Financial Statements. ...
• Closing Entries.

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• What are the rules of debit and credit?
• Debits and credits are the opposing sides of an
  accounting journal entry. ... Rule 1 All
  accounts that normally contain a debit balance
  will increase in amount when a debit (left
  column) is added to them, and reduced when a
  credit (right column) is added to them.

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What are the three types of accounting? Accountant
s tend to specialize in one of these fields,
which leads to the different career tracks noted
below Financial accounting. ... Public
accounting. ... Government accounting.
... Forensic accounting. ... Management
accounting. ... Tax accounting. ... Internal
auditing
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