CPT Chapter Accounting Process from Journal to Cash Book
CA CPT chapter “Accounting Process” makes simple the Double Entry System. It deals with the process of accounting from Journal to Trial Balance and includes preparation of Subsidiary Books and Cash Book.
With Sheela Warrier.Duration:6hrs 40min
Few of Things covered by us :
Overview of Accounting Process
Debit & Credit
Dual Aspect Concept
Assets = Liabilities
Assets = Liabilities + Capital
Assets - Liabilities = Capital
Assets - Liabilities = Capital + (Income - Expenses)
Assets and Expenses
Liabilities and Income
Rules of Debit and Credit
Increase in Assets are Debits
Decrease in Assets are Credits
Increase in Liabilities are Credits
Decrease in Liabilities are Debits
Increase in Expenses are Debits
Increase in Incomes are Credits
Goods Account ?
Goods purchased and then returned
Goods sold and later returned
Capital a/c, Drawings a/c, Bank a/c, Creditors, Debtors, Bills Payable, Bills Receivable
Cash, Land & Building, Furniture, Car, Machinery
Purchases, Sales, Rent, Salaries, Discount received & allowed, Interest income & expense
Traditional approach- Rules for Journalising
Personal Accounts: Debit the Receiver
: Credit the Giver
Real Accounts : Debit what comes in
: Credit what goes out
Nominal Accounts : Debit all Expenses and Losses
: Credit all Incomes and Gains
Journal is a Book of Original Entry
Some Special Accounts
Income earned but not received
Income received in advance
Entire set of Accounts
Principal Book of Accounts
Date, Particulars, JF, Amount
What is a Trial Balance ?
When is it prepared ?
Why is it prepared ?
How is a Trial Balance prepared ?
Limitations of a Trial Balance
Third phase of accounting process
All ledger account balances
As on a date
Can be prepared anytime
Objectives of a Trial Balance
Arithmetical accuracy of books
Summary of all balances
Basis for preparation of final accounts
Methods of preparing a Trial Balance
Total and Balance Method
CPT Exam Exposure
Show you appreciate by sharing!