1. Define Accounting.
2 Explain the primary objectives of accounting?
3. What is Double entry system?
4. What is meaning of Debit and Credit?
5. Explain the different methods of accounting.
6. Explain the various types of accounts.
7. Discuss the limitations of accounting.
8. Distinguish between book-keeping and accounting
9. Explain the accounting rules.
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1. लेखांकन को परिभाषित कीजिए।
2 लेखांकन के प्राथमिक उद्देश्यों की व्याख्या करें?
3. डबल एंट्री सिस्टम क्या है?
4. डेबिट और क्रेडिट का क्या अर्थ है?
5. लेखांकन की विभिन्न विधियों की व्याख्या कीजिए।
6. विभिन्न प्रकार के खातों की व्याख्या कीजिए।
7. लेखांकन की सीमाओं की चर्चा कीजिए।
8. पुस्तपालन और लेखांकन में अंतर स्पष्ट कीजिए
9. लेखांकन नियमों की व्याख्या कीजिए।
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1. অ্যাকাউন্টিং সংজ্ঞায়িত করুন।
2 হিসাববিজ্ঞানের প্রাথমিক উদ্দেশ্য ব্যাখ্যা কর?
3. ডাবল এন্ট্রি সিস্টেম কি?
4. ডেবিট এবং ক্রেডিট মানে কি?
5. হিসাব নিকাশের বিভিন্ন পদ্ধতি ব্যাখ্যা কর।
6. বিভিন্ন ধরনের হিসাব ব্যাখ্যা কর।
7. হিসাবরক্ষণের সীমাবদ্ধতা আলোচনা কর।
8. বই রাখা এবং হিসাবরক্ষণের মধ্যে পার্থক্য করুন
9. হিসাবরক্ষণের নিয়ম ব্যাখ্যা কর।
Accounting is the process of recording, classifying, analyzing, and interpreting financial transactions to provide useful information for decision-making purposes. It involves the systematic recording and reporting of financial information about a business or organization to stakeholders such as investors, creditors, and regulators.
The primary objectives of accounting are to:
- Provide financial information that is useful for decision-making
- Maintain systematic records of financial transactions
- Ensure compliance with legal and regulatory requirements
- Assess the financial performance and position of an organization
- Facilitate effective management of resources
The double entry system is a method of bookkeeping that requires every financial transaction to have equal and opposite effects on at least two different accounts. This system ensures that the accounting equation (assets = liabilities + equity) is always in balance.
Debit and credit are two sides of a financial transaction. In the double entry system, a debit is an entry made on the left-hand side of an account, while a credit is an entry made on the right-hand side of an account. Debits and credits are used to increase or decrease the balance of specific accounts, depending on the type of account and the nature of the transaction.
There are several methods of accounting, including:
- Cash basis accounting: transactions are recorded only when cash is received or paid
- Accrual basis accounting: transactions are recorded when they occur, regardless of when cash is received or paid
- Hybrid basis accounting: a combination of cash and accrual basis accounting
- Cost accounting: used to track the costs of producing goods or services
- Managerial accounting: used for internal decision-making purposes
- There are various types of accounts, including:
- Asset accounts: resources owned by a business or organization, such as cash, inventory, and property
- Liability accounts: debts owed by a business or organization, such as loans and accounts payable
- Equity accounts: the residual value of assets after liabilities have been deducted, such as retained earnings and stockholder's equity
- Revenue accounts: income generated by a business or organization, such as sales and fees
- Expense accounts: costs incurred by a business or organization, such as salaries and rent
- The limitations of accounting include:
- It cannot capture all the nuances and complexities of business activities
- Financial statements are subject to manipulation and misrepresentation
- Accounting data can quickly become outdated and may not reflect current market conditions
- It cannot predict the future performance of a business or organization
- It relies on subjective judgments and estimates, which can be influenced by personal biases and assumptions
Bookkeeping is the process of recording financial transactions, while accounting involves analyzing and interpreting the recorded data to provide useful information for decision-making purposes. Bookkeeping is a part of accounting, but accounting is a broader field that includes financial reporting, analysis, and management.
The accounting rules include the principles, assumptions, and constraints that guide the preparation of financial statements. Some of the key accounting rules include:
- The accounting equation (assets = liabilities + equity) must always be in balance
- Transactions must be recorded using the double entry system
- Financial statements must be prepared in accordance with generally accepted accounting principles (GAAP)
- The going concern assumption assumes that a business will continue to operate indefinitely
- The matching principle requires that expenses be recorded in the same period as the revenues they generate
- The conservatism principle suggests that when there is doubt about the value of an asset or the likelihood of a liability, the accountant should err on the side of caution and record a lower value or higher liability.
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