Resume for freshers

Understand  accounting | D etermine the debit and credit aspect of transaction. Classification of accounts Classification of accounts What is account? Account is a record separately made for each type of asset, liability, revenue, expenses and equity that are used to show the begging balance and to record the increase, decrease and the end of balance during/end of the period. 3 golden  rules of aacounts are 1.Debit what comes in credit what goes out. 2. Debit the receiver credit the giver. 3. Debit all ecpenses and losses credit all incomes and gains. Classification of accounts Accounts are classified into different kinds 1. To easily determine the debit and credit aspect of transaction. 2. And to understand the nature of balance of an account. Now every trader need to carry on the business including the requirements such as cash, goods, furniture etc. Dealing with number of persons / firm and incurring certain expenses such as salaries, office expenses, rent etc. ad cert...

  Methods for maintaining capital account | Fixed and Fluctuating method Partners’ capital accounts  What is meant by Partners’ capital account         This are the personal accounts of partner maintained in the columnar form to record the transactions that are related to partners. Now there are two ways or methods for maintaining the capital account. Two methods of maintaining capital account 1.   Fixed capital method 2.  Fluctuating capital method. What is Fixed capital method   Under this method partners’ capital account is fixed and all the adjustment’s that belongs to partner are to be transferred to current account. SO there are two accounts opened under this method partners’ capital as well as current account. While partners’ capital amount will remain constant every year. a)The amount contributed by the partner at the beginning, part of capital withdrawn during the year and additional capital added by partner during the year all such ...

Financial accounting characteristic , advantages and disadvantages Accounting principles WHAT IS FINANCIAL ACCOUNTING ACCORDING TO INSTITUTE OF CERTIFIES PUBLIC ACCOUNTS (U.S.A)       "Accounting is the art of recording classifying and summarizing in a significant manner and in terms of money transactions and events which are in part of at least of financial characters, and interpreting the result there of ". According to accounting principles of board:- "Accounting is a service activity its function is to provide quantitative information , primarily , financial in natural about economic entities that is intended to be useful in making economic decision , in making reasoned choice among alternative course of action .Accounting includes several branches for e.g. : Financial accounting , Managerial accounting , Government accounting" .   In simple words it’s a science of recording various business expenses according to specific purpose. Main features of accou...