Marg Academy Accounting Course Sonipat
Marg Academy in Sonipat provides marg academy Accounting course sonipat at Int Institute. Marg Software is the best accounting and inventory software which gives you total control over your business. To get details on marg software price or for other query call us! We are happy to help. . Free demo class, student kit – book, pen,T-shirt & software,etc and its objective is to provide the students with an opportunity to acquire knowledge of Accounting Fundamental as well as gain the office skills and expertise in Marg Software. This course is intended to introduce the basic concepts, theory and practice of financial accounting and to enable students to understand information contained in the published financial statements of companies and other organizations.To download marg software click here
Introduction Of Accounting
- Accounting is the language of business. It is an art of classifying, recording and summarizing in a significant manner and in terms of transactions, money and events which are in at least of a financial character and interpreting the result thereof.
- Group Master is called as the “Head of Ledgers” which categorize or defines different types of ledgers like fixed assets, current assets, etc.
- A voucher is a basic recording document. It is a written record of disbursement, expenditure or completed transaction. It is used as a part of a company’s internal control system. The main purpose of a voucher is to create an audit trial, so that if a doubt arises regarding a transaction, documented evidence and support can be furnished weeks, months or years later.
- Journal Entry is a primary book of accounting. It contains chronological record of transactions. Every business has two fold aspects which are receiving and giving aspects. It means one has to give something to other and in return has to receive something from him. Every receiving has a simple logic of ‘equal’ giving.
- A ledger can be stated as an authenticated account record which can categorize a transaction. It can be applied to use in all kinds of Accounting Vouchers including Purchase, Payments, Sales, Receipts, etc. which are classified under ledger accounts. The suitable classification of all ledgers into proper Groups is important for appropriateness of Accounting.
Cash Book & Bank Book
- Cash & Bank Book reports are the record of transactions made by the company whether in cash or through cheque/DD for a specified period. This gives the detailed amount held by the company at a particular time in cash and money held by the company in its bank account.
Profit And Loss Account
- It is also called Income Statement is a periodic statement, which shows the net result of business operations for a specified period. All the expenses incurred and incomes earned during the reporting period are recorded in the Profit and Loss account or Income and Expenditure account.
- Depreciation is an accounting method of allocating the cost of a corporeal asset over its useful life. It is also defined as the distribution of the cost of an asset involved in producing revenues throughout its useful life. It is the loss due to decrease in the value of any fixed assets.
- Trial Balance can be defined as a list of all balances standing in the Ledger Accounts and Cash Book of a concern at any given time. A Trial Balance is a list of all the general ledger accounts contained in the ledger of a business. This contains the name and value of the nominal ledger account. The Trial Balance is a part of the double-entry book keeping system and uses the classic “T” account format for presenting values.
- Balance Sheet signifies the financial position of an enterprise at the end of an accounting year. This statement consists of the closing balances of all assets and liabilities and the net result of an enterprise. It is a periodic statement prepared after preparing the Profit and Loss Account.