geography ", "ये पेज under construction क्युं है .plz fix this prob...", "this very good website i really appreciate which provide no cost education to all medium classes", "Not able to find the content....as instructed. transaction records on historical cost. You can also find Introduction To Accounting - Attributes of Accounting : Class 11 Commerce Video | EduRev ppt and other Commerce slides as well. Commerce Introduction To Accounting - Attributes of Accounting : Class 11 Commerce Video | EduRev Summary and Exercise You can download Free Introduction To Accounting - Attributes of Accounting : Class 11 Commerce Video | EduRev pdf from (ii) Helps in comparison of financial results :-, -  Comparison of its own results of different results. Aryan Thakur has Registered for All Class on Saturday 28 November 2020 at 08:23 AM, who is a Student. Bharat Singh Charan has Registered for 8 on Saturday 28 November 2020 at 12:34 PM, who is a Student. Students are advised to follow the given Class 11 Accountancy chapter wise important questions along with the answers. (v) Accounting helps in determining profit and losses of an enterprises. Raviradh Singh has Registered for 11th on Saturday 28 November 2020 at 03:35 PM, who is a Student. Complete Introduction To Accounting - Attributes of Accounting : Class 11 Commerce Video | EduRev chapter (including extra questions, long questions, short questions) can be found (iii) it involves following activities, recording, classifying and summarizing. (iii) Meeting legal needs :- Accounting helps for meeting legal needs for various legal purposes like annual accounts, income tax return, sales tax return. EduRev is like a wikipedia just for education and the Introduction To Accounting - Attributes of Accounting : Class 11 Commerce Video | EduRev images and diagram are even better than Byjus! Important Questions for Class 11 Business Studies; TS Grewal Accountancy Class 11 Solutions; Characteristics of Accounting: The following attributes or characteristics can be drawn from the definition of Accounting: (1) Identifying financial transactions and events. International Accounting Standard Committee (IASC) was set up in 1973. (ii) accounting is an act. (iv) Accounting information can be used as an evidence in legal & taxation matter. (adsbygoogle = window.adsbygoogle || []).push({}); Economics Notes for class 11th statistics, Economics Notes for class 11th Development, previous years exam papers for class 10th. (vi) Ascertaining the business profit and losses :- Accounting helps in determining the coredt net profit and loss of enterprises. (v) Assisting the management :- Accounting Assist the management in decision making by providing relevant information. Our offered Introduction to Accounting PDF is structured and written by experts with many years of experience in teaching. Studying these would positively help the students to score good marks in board exams. (i) It helps to maintain systematic accounting records of financial transactions and events. (i) Accounting records only those transaction which can be measures in the terms of money. Crash Course of Macro Economics -Class 12, Crash Course of Micro Economics -Class 12, Crash Course of Business Studies(BST)- Class 12, TS Grewal Solutions - Class 11 Accountancy, TS Grewal Solutions - Class 12 Accountancy. Introduction To Accounting - Attributes of Accounting : Class 11 Commerce Video | EduRev video for Commerce is made by best teachers who have written some of the best (i) maintaining systematic records :- Accounting records the financial transaction in the Systematic manner. (v) Accounting information can be manipulated and thus cannot be considered as the true test of performance. Important Questions for Class 11 Accountancy are prepared by subject matter experts from the latest version of CBSE books. Q:-Differentiate between source documents and vouchers. Characteristics of accounting : (i) Accounting records transactions and events which are of financial nature . To Study Introduction To Accounting - Attributes of Accounting : Class 11 Commerce Video | EduRev for Commerce this is your one stop solution. books of Commerce. on EduRev, you can check out Commerce lecture & lessons summary in the same course for Commerce Syllabus. 5. EduRev by using search above. Lalit Op has Registered for 11th on Saturday 28 November 2020 at 02:09 PM, who is a Student. of this page. If you Do check out the sample questions of Introduction To Accounting - Attributes of Accounting : Class 11 Commerce Video | EduRev for Commerce, the answers and examples explain the meaning (i) provides financial information about the business to interested porties, likes, net profit, assets and liabilities. (vii) Accounting helps in preparation of financial statement like PG2 A/C  balance sheet. ", "every chepter is imcomplete....this side is not useful", "10th science ka Lesson-8 ka page no.5 kab take under construction rahega please improve it. want Introduction To Accounting - Attributes of Accounting : Class 11 Commerce Video | EduRev notes & Videos, you can search for the same too. The first chapter in the Class 11 Accounts book deals with the theoretical base required for the practice of accountancy. . (vii) Value Sets of Attributes : Each simple attribute is associated with a value set, which specifies the set of possible values that may be assigned to a particular attribute.For example, the value set of voucher date is all those dates that fall within the dates valid for a given accounting period. This video is highly rated by Commerce students and has been viewed 274 times. (Now renamed as International financial Reporting Committee IFRC). Mukesh Kumar has Registered for 10th on Saturday 28 November 2020 at 02:58 PM, who is a Student. (vi) It records transaction in the term of money. (iii) Determining financial position :- Accounting helps to determine financial position of business by preparing balance sheet. Oct 02, 2020 - Introduction To Accounting - Attributes of Accounting : Class 11 Commerce Video | EduRev is made by best teachers of Commerce. (ii) Determining profited loss :- The second main objectives of accounting is to determine correct net profit & by preparing profit& loss A/C. Shikhar Gupta has Registered for 10 on Saturday 28 November 2020 at 06:04 PM, who is a Student. are very important for perfect preparation. It has gotten 278 views and also has 0 rating. (v) Providing information to interest parties and user. (vi) Accounting information may be biased. By continuing, I agree that I am at least 13 years old and have read and agree to the. (adsbygoogle=window.adsbygoogle||[]).push({}); Copyright © 2012-2020 All rights reserved for ATP EDUCATION ®. (iv) protecting business assets :-  Accounting maintains proper rewards various assets and helps to management to protects business assets by providing relevant information. (1) Entity: Entity means a reality that has a definite individual existence. It also helps you to know the Accounting Standards set by the Institute of Chartered Accountant of India (ICAI) and understand the basic Accounting concepts and their definitions. (iv) Accounting helps in determining the financial position of … Theory Base of Accounting class 11 Notes Accountancy. Popular Questions of Class 11th accountancy. (iii) it involves following activities, recording, classifying and summarizing. Akash Sharma has Registered for 10th on Saturday 28 November 2020 at 01:22 PM, who is a Student. of chapter in the best manner. (2) Transaction: A event involving some value between two or more entities or parties. Q:-Define accounting and state its objectives.Q:-Complete the following work sheet:(i) If a firm believes that some of its debtors may ′default′, it should act on this by making sure that all possible losses are recorded in the books. ) Accounting helps in determining the financial statements losses of an enterprise with of sheets. 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