Main Concepts in Accounting
The above Chart is showing you the effect of Debit and Credit in Accounting Concepts.Well With some Concentration You just follow these Rules and Keephd if you have understand and keep in your mind these Concepts then there is no Problem for yourself in understanding Accounting subject.If You have Strong base of Accounting Concepts then you Can easily able to make Gournal Journal , Ledger , Balance Sheet , Trail Balance , Income statement as well as you can also able to make Trading ,Profit & Loss Account.Dear Friends Accounting is very easy Subject than Math, We all know that mostly Students having a Problem in Mathematics Subject but Accounting is Only a great Business Subject Where approximately every Student Can easily understand its Basic to Advance Knowledge in Successful manner because there is no difficulty in Understanding this Subject.As i m Commerce Graduate and Accounting is my favorite Subject as it is Serve any Business greatly because of its Practical Knowledge about making Chart of Accounts of Non Trading Concerns and Business Concerns in Business of today's world.Now i m going to Clear Some more basics Concepts and after learning these remaining Concepts you will be have all basics Accounting Concepts as your base is Strong in Commerce education through these basics Concepts of Accounting and other Knowledge and Subjects are also based on theory but We must have Concentrate on Accounting basic Concepts and other theory subjects of Commerce and theory subjects are also more important because theory Knowledge also help us greatly in Understanding the Knowledge of Commerce field.Now there is nothing difficult for yourself to understand all of Commerce Subjects.i will try my best to Share my all knowledge about Commerce i posses to assist you Friends.Just follow some basic Concepts in Live Video Class about 'Accounting Concepts' and in these Lectures a Commerce Masters Professor will teach you also all these basics Concepts and this is Real Class in a College and a our Professor is teaching With White board also he us while teaching Accounting Concepts.So Watch Now below Video Lectures.
Lecture# 1
Lecture# 2
Lecture# 3
What is Ledger in Accounting???
Ledger is King of Accounting Subject.and Why We make Ledger Account?
This is very important to Know about 'Ledger' in Accounting.First in Your Business first of all you will make Gournal Journal (Journalize ) because When in our daily business We Purchase and Sale goods for and then We Record these Sales and Purchases in Gournal Journal Account as it is known as Passing Transaction.But If you Purchase and Sale goods then it will Change occur in Sense of Our Transaction because Some time We Sale and Purchase Goods for Cash and Some time We do this as on Credit (Loan , Account Payable )bases So We also make Payments to our Creditors and also we receive Payments form Our Debtors in Business and We also do record these Transactions as Gournal Journal Entries.Now You have must ability to record Correct Entry in Gournal Journal according to the rules and regulation of Accounting basics.Now When you Record all Transactions into Gournal Journal then Simply Post (Transfer) these Gournal Entries to Ledger Account but how you Can do this? This is very simple Just You have to Collect the Same nature entries from Gournal Journal Account , For Example there are Some Entries Of Cash Sales and Purchase and you have to make an small account according to the name & Nature of Account.and you will have to make Separate Ledger Account of every Transaction Account entries in Gournal Journal Account.Suppose there are Cash Sale of 50,000 and there are also another Cash Sale of Our Goods (Merchandise) for 30,000 and there are also more Transaction (Entries ) We record in Gournal Journal Account then We make just 1 Account Namely 'Sales Account' as Our Ledger Account and We will Post all Debit and Credit Transactions in Our Sales Ledger Account and there are also Purchase Account in Gournal Journal and We just find and Collect all Entries related to Cash Purchase Account and Remember if We made Purchase on Credit then it will be recorded in Account Payable (The Amount We have to Pay to others ) an you will make Separate Account Namely 'Account Payable Account' and Now Select one unique Account like Sale , Purchase , Account Payable and Account Receivable these are Some main Accounts and there are many Same entries related to these Accounts and you just Put these Entries in your Ledger account by making different Ledger Account of Different items and Accounts.Hopefully You will learn about Ledger Account.So you Can ask question to be about ledger account if you feel any Problem in Understanding this one.But if you give some time to it then you will be master in Accounting because man Should be a Skating Champion if he give all his time to it.Now Watch the below Video Lecture to Learn about Ledger Account in Accounting
Ledger Account Complete Introduction and making method!! Watch Now in Urdu
Complete Text Lessons On Basic Concepts of Accounting!!
Now after Watching these three beautiful and informative Video Lecture you learn Complete Accounting basic Concepts.Now Just follow our text lectures on basic Accounting concepts introduction.After learning these I will teach you about Gournal Journal , Balance Sheet , Trail Balance and Income Statement because these are very Important in Accounting Subjects and there is must be Question Selected by your Examiner in these topics.and After this I will teach you about 'Bank Reconciliation Statement.All these Accounting Topics and Concepts will help you in your Course such as I.COM ,D.COM and B.com Which is Graduation Degree in Commerce Sector.So learn and Read these text lectures and ask Questions if you have any problem in understanding any of my Content.and every text lesson have numbers respectively.So if you have any question in text lectures then use the numbering of Pages.Now learn these text lessons and Stay tuned with us:-
Other Remaining Topics We will be uploaded Soon!!
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