CONSIGNMENT
JOURNAL ENTRIES TO BE THE BOOKS OF CONSIGNOR:
Consignor maintains a separate consignment account for goods sent to each agent. consignment account is profit or loss.
1. On sending goods to Consignment A/c ...Dr.
Consignee: Goods sent on consignment A/c
, (Being goods sent to agent for sale)
fiotct la e-ase- a consignor lias more t&aa one agent, separate consignment account is prepared J agent Each consignment account is identified with the name of place, for example 'Co to Karachi Ale or 'Consignment to Lahore A/c.
2. For expenses paid Consignment A/c
by consignor: Cash/Bank A/c
(Being expenses paid)
3. On receiving advance Cash/Bank A/c...
from consignee: Consignee A/c
(Being advance received from agent)
—
4. If consignee has accepted Bills Receivable A/c ...
a bill of exchange as an Consignee A/c
advance: (Being acceptance received from agent)
5. With the sale price of Consignee A/c
goods sold by consignee: Consignment A/c
(Being gpods sold by agent)
6. For goods taken over Consignee
by consignee for his Consignment A/c
personal use: (Being goods taken over by agent)
7. For expenses paid Consignment A/c .........
byAgent: Consignee
(Being expenses incurred by agent)
Note- If any of the expenses is borne by me agent personally, such expenses will not be consignment A/c. Consignor will not make anyentry for such expenses. These will be the Profit and Loss account in the books of Consignee.
Sunday, December 14, 2008
Tuesday, December 9, 2008
kind of Companies
The shareholders, who are the owncis ol the i (imp.my, an- laif.e over the country. Being absentee owners, they cannot manage the .ill.mi-, ol tin ...,.,, therefore, elect Board of Directors in the annual general meeting and enim.i n. company to them. The ownership and management of the company are thus m i
7. STATUTORY REGULATIONS:
A company right from its inception, has to comply with a number ol ::i.u> also to submit returns and report during its lifetime to the Government.
8. COMMON SEAL:
Since the company is an artificial person created by law, it therefore i-anuoi mum itself. The common seal with the name of the company engraved on it is, then-Ion its signature.
9. RIGIDITY OF OBJECTS:
In a company form of organization, the objects and powers of the com memorandum of association of the company. A change in the object and powers ol made after complying with the relevant provisions of the Companies Ordinance.
KINDS OF COMPANIES
There are four kinds of companies registered under companies ordinance, \')K-\ (1) COMPANY LIMITED BY SHARES:
This is the principal form of company which is registered with the registrat ot i..imi under the Companies Ordinance. In a company limited by shares, the capital is di shares. A person who buys one or more than one shares becomes a member of the i • <> Public company.
(a) Private Limited Company:
According to the' Companies Ordinance 1984 it can be formed (a) at le.i its total membership cannot exceed 50. (b) The company by its articles a I transfer its shares, (c) It also prohibits any invitation to the public to invest tin debentures of the company.
(b) Public Limited Company:
It can be formed by at least seven members and there is no limit to the maximum mi limited company invites applications from investors through advertisement in the ii details of the objects, share capital, method of applying for the procedure to be adopted i« the shares etc.
prepare and file a number of documents with the regisd the receipted challans in respect of payment of duty on share capital fee.
den submitted must be accompanied with requisite filing fee I In will scrutinize theni If he is satisfied that the requirements of law I
the company on the Register of Companies and issue a imi of incorporation is a proof of the fact that all the complied with.
7. STATUTORY REGULATIONS:
A company right from its inception, has to comply with a number ol ::i.u> also to submit returns and report during its lifetime to the Government.
8. COMMON SEAL:
Since the company is an artificial person created by law, it therefore i-anuoi mum itself. The common seal with the name of the company engraved on it is, then-Ion its signature.
9. RIGIDITY OF OBJECTS:
In a company form of organization, the objects and powers of the com memorandum of association of the company. A change in the object and powers ol made after complying with the relevant provisions of the Companies Ordinance.
KINDS OF COMPANIES
There are four kinds of companies registered under companies ordinance, \')K-\ (1) COMPANY LIMITED BY SHARES:
This is the principal form of company which is registered with the registrat ot i..imi under the Companies Ordinance. In a company limited by shares, the capital is di shares. A person who buys one or more than one shares becomes a member of the i • <> Public company.
(a) Private Limited Company:
According to the' Companies Ordinance 1984 it can be formed (a) at le.i its total membership cannot exceed 50. (b) The company by its articles a I transfer its shares, (c) It also prohibits any invitation to the public to invest tin debentures of the company.
(b) Public Limited Company:
It can be formed by at least seven members and there is no limit to the maximum mi limited company invites applications from investors through advertisement in the ii details of the objects, share capital, method of applying for the procedure to be adopted i« the shares etc.
prepare and file a number of documents with the regisd the receipted challans in respect of payment of duty on share capital fee.
den submitted must be accompanied with requisite filing fee I In will scrutinize theni If he is satisfied that the requirements of law I
the company on the Register of Companies and issue a imi of incorporation is a proof of the fact that all the complied with.
Sunday, December 7, 2008
joint stock company
ACCOUNTS OF JOINT STOCK (
BOOK VALUE:
It is the value of the shares according to the books of accounts of the company. If a . issued only ordinary shares, the book value of an ordinary share is determined by dividing the equity by the number of shares issued (total owners' equity includes undistributed profits of ] the company has issued different classes of shares the owners' equity has to be determined ••: keeping in mind the rights and privileges of each class of shares.
MARKET VALUE:
This is the value of a share as quoted on the stock exchange. The market value suggeasl at which the buyer is willing to purchase and the seller is willing to sell a share. The market vate not the same as either the par value or the book value. Market value is influenced by anticipai profits and political and business conditions.
NOTE:
According to Companies Ordinance 1984, there is no classification of shares. There is i of shares which is called "Ordinary Shares" or "Equity Shares".
ISSUANCE OF SHARES
GENERAL PROCEDURE:
After completing the legal formalities described earlier, the company offers shares £ public. Persons desirous of becoming shareholders of the company apply to the company for of a certain number of shares. This application is to be given on the prescribed form. These apj given to banks approved by the company. Each application must be accompanied with the M the value of shares applied for. After the last date of application has expired, the company gea from all branches of approved banks about the total number of shares applied for and th along with applications. This amount may be called the application money.
If the amount thus collected is equal or more than the amount of rrrniimurn subscript* prospectus, the company proceeds to allot shares to the applicants. If share applications ha-.: in excess of the number of shares offered by the company, the issue is said to be over-subset oversubscribed amount is returned to the applicants.
The decision to allot shares is communicated to applicants by a letter known as allotment. These letters are signed by applicants 'and returned to the company on the basis company prepares share certificates and these share certificates are sent to the applicants. ' shareholders of the company,
ACCOUNTING FOR ISSUE OF SHARES - FIRST OR INITIAL ISSUE:
In the process of raising its minimum subscription, a company invites applicatio^ minimum subscription has beeri raised, the company proceeds to allot the shares. An applic is an offer and the allotment is an acceptance. The allotment of shares is an act of the i applicant for shares becomes the holder of the shares. Assume that Star Co. Ltd. has an of Rs. 10,00,000 divided into 1,00,000 ordinary shares of Rs. 10 each. And that the stated in the memorandum is Rs. 4,00,000. Further assume that the company invites applic shares of Rs. 10 each (Rs. 4,00,000), requiring full payment of Rs. 10 per share applied for i application. Now, persons desirous of becoming shareholders of the company will fillin forms and deposit money with banks (authorized by the company to collect). The money i equal to the number of shares applied for multiplied by the par value. A deadline is fixed : After the close of that date each bank informs the company about the total amount of mone> : on account of share applications.
BOOK VALUE:
It is the value of the shares according to the books of accounts of the company. If a . issued only ordinary shares, the book value of an ordinary share is determined by dividing the equity by the number of shares issued (total owners' equity includes undistributed profits of ] the company has issued different classes of shares the owners' equity has to be determined ••: keeping in mind the rights and privileges of each class of shares.
MARKET VALUE:
This is the value of a share as quoted on the stock exchange. The market value suggeasl at which the buyer is willing to purchase and the seller is willing to sell a share. The market vate not the same as either the par value or the book value. Market value is influenced by anticipai profits and political and business conditions.
NOTE:
According to Companies Ordinance 1984, there is no classification of shares. There is i of shares which is called "Ordinary Shares" or "Equity Shares".
ISSUANCE OF SHARES
GENERAL PROCEDURE:
After completing the legal formalities described earlier, the company offers shares £ public. Persons desirous of becoming shareholders of the company apply to the company for of a certain number of shares. This application is to be given on the prescribed form. These apj given to banks approved by the company. Each application must be accompanied with the M the value of shares applied for. After the last date of application has expired, the company gea from all branches of approved banks about the total number of shares applied for and th along with applications. This amount may be called the application money.
If the amount thus collected is equal or more than the amount of rrrniimurn subscript* prospectus, the company proceeds to allot shares to the applicants. If share applications ha-.: in excess of the number of shares offered by the company, the issue is said to be over-subset oversubscribed amount is returned to the applicants.
The decision to allot shares is communicated to applicants by a letter known as allotment. These letters are signed by applicants 'and returned to the company on the basis company prepares share certificates and these share certificates are sent to the applicants. ' shareholders of the company,
ACCOUNTING FOR ISSUE OF SHARES - FIRST OR INITIAL ISSUE:
In the process of raising its minimum subscription, a company invites applicatio^ minimum subscription has beeri raised, the company proceeds to allot the shares. An applic is an offer and the allotment is an acceptance. The allotment of shares is an act of the i applicant for shares becomes the holder of the shares. Assume that Star Co. Ltd. has an of Rs. 10,00,000 divided into 1,00,000 ordinary shares of Rs. 10 each. And that the stated in the memorandum is Rs. 4,00,000. Further assume that the company invites applic shares of Rs. 10 each (Rs. 4,00,000), requiring full payment of Rs. 10 per share applied for i application. Now, persons desirous of becoming shareholders of the company will fillin forms and deposit money with banks (authorized by the company to collect). The money i equal to the number of shares applied for multiplied by the par value. A deadline is fixed : After the close of that date each bank informs the company about the total amount of mone> : on account of share applications.
capital
AUTHORIZED CAPITAL:
It is the amount of capital with which the company is registered. This capital is mentioned in i memorandum of association. A mention is also made of the number of shares into which this total capia divided, and of the par value of shares. In later years, if the company wants to either increase or decra this capital, certain legal requirements must be met. This capital is also known as nominal capita registered capital.
ISSUED CAPITAL:
Shares offered to the general public for contribution are known as shares issued. The total par « of such shares is called issued capital. To begin with, a company seldom offers all of its sharal subscription. Therefore, the amount of issued capital is generally less than the authorized capital 1 company has an authorized capital of Rs. 10,00,000 divided into 10,000 shares of Rs. 100 each decide to offer 5,000 shares to the general public. In this case the issued capital is said to be Rs. 5.00m divided into 5,000 shares of Rs. 100 each.'The remainder, that is, the difference between the authorized issued capital is known as unissued capital.
SUBSCRIBED CAPITAL:
Out of the total number of shares offered (issued) by the company, that number of shares taken up by the public is known as shares subscribed. The total par value of such shares is called subs™ capital. For example, out of the 5,000 shares issued by the company, if the public takes up 4,500 sharsJ subscribed share capital is Rs. 4,50,000 (4,500 shares x Rs. 100 par value of each share).
CALLED-UP CAPITAL:
A company may require payment of the par value either in instalments or in one lump amount is known as the called-up capital. For example, for each of the 4,500 shares taken up by the a the company may require a payment of Rs. 70 per share (the remainder Rs. 30 per share to be asked for by the company. In this case the called-up capital of the company is Rs. 3,15,000 (4,500 > per share called-up). The difference between the subscribed capital and the called-up capital is txJ un-called capital. In this case the un-called capital is Rs. 1,35,000 (Rs. 4,50,000 subscribed capitals Rs, 3,15,000 called-up capital or 4,500 shares subscribed x Rs. 30 per share uncalled. AcccrrJ Companies Ordinance, 1984, shares are always issued at full price (full amount is called up on appfi^l Therefore, there is no difference between subscribed and called capital.
PAID-UP CAPITAL:
The total amount received by the company out of the total called-up amount is known as oeJ up capital. Assuming that of Rs. 3,15,000 called-up capital the company received Rs. 3,00,00t up capital is in the amount of Rs. 3,00,000. The remainder of Rs. 15,000 is known as calls unpaid o^H arears. Now-a-days the total par value is collected at the time of application and as such practical are no calls in arrears. Presently, therefore, the subscribed, called-up and paid-up capitals are ; i amount.
RESERVE CAPITAL:
It is the portion of the subscribed capital which the company, through a special resolutioa ^1 to call in the event of winding up. Assume that 4,500 shares Rs. 100 are subscribed, the compa^^H to a 11 Rs. 70 per share and passed a special resolution to the effect that Rs. 30 per share will be calfl the event of winding up. The company is said to have reserve capital of Rs. 1,35,000 (4,500 x Rj share). Reserve capital cannot be turned into ordinary capital without leave of the court, and it ~aM dealt with or charged by creditors.
It is the amount of capital with which the company is registered. This capital is mentioned in i memorandum of association. A mention is also made of the number of shares into which this total capia divided, and of the par value of shares. In later years, if the company wants to either increase or decra this capital, certain legal requirements must be met. This capital is also known as nominal capita registered capital.
ISSUED CAPITAL:
Shares offered to the general public for contribution are known as shares issued. The total par « of such shares is called issued capital. To begin with, a company seldom offers all of its sharal subscription. Therefore, the amount of issued capital is generally less than the authorized capital 1 company has an authorized capital of Rs. 10,00,000 divided into 10,000 shares of Rs. 100 each decide to offer 5,000 shares to the general public. In this case the issued capital is said to be Rs. 5.00m divided into 5,000 shares of Rs. 100 each.'The remainder, that is, the difference between the authorized issued capital is known as unissued capital.
SUBSCRIBED CAPITAL:
Out of the total number of shares offered (issued) by the company, that number of shares taken up by the public is known as shares subscribed. The total par value of such shares is called subs™ capital. For example, out of the 5,000 shares issued by the company, if the public takes up 4,500 sharsJ subscribed share capital is Rs. 4,50,000 (4,500 shares x Rs. 100 par value of each share).
CALLED-UP CAPITAL:
A company may require payment of the par value either in instalments or in one lump amount is known as the called-up capital. For example, for each of the 4,500 shares taken up by the a the company may require a payment of Rs. 70 per share (the remainder Rs. 30 per share to be asked for by the company. In this case the called-up capital of the company is Rs. 3,15,000 (4,500 > per share called-up). The difference between the subscribed capital and the called-up capital is txJ un-called capital. In this case the un-called capital is Rs. 1,35,000 (Rs. 4,50,000 subscribed capitals Rs, 3,15,000 called-up capital or 4,500 shares subscribed x Rs. 30 per share uncalled. AcccrrJ Companies Ordinance, 1984, shares are always issued at full price (full amount is called up on appfi^l Therefore, there is no difference between subscribed and called capital.
PAID-UP CAPITAL:
The total amount received by the company out of the total called-up amount is known as oeJ up capital. Assuming that of Rs. 3,15,000 called-up capital the company received Rs. 3,00,00t up capital is in the amount of Rs. 3,00,000. The remainder of Rs. 15,000 is known as calls unpaid o^H arears. Now-a-days the total par value is collected at the time of application and as such practical are no calls in arrears. Presently, therefore, the subscribed, called-up and paid-up capitals are ; i amount.
RESERVE CAPITAL:
It is the portion of the subscribed capital which the company, through a special resolutioa ^1 to call in the event of winding up. Assume that 4,500 shares Rs. 100 are subscribed, the compa^^H to a 11 Rs. 70 per share and passed a special resolution to the effect that Rs. 30 per share will be calfl the event of winding up. The company is said to have reserve capital of Rs. 1,35,000 (4,500 x Rj share). Reserve capital cannot be turned into ordinary capital without leave of the court, and it ~aM dealt with or charged by creditors.
computer tips
Importance
of Computer Education
(Infromation Technology)
Outline:
1. Introduction
2. Uses and benefits of computer
3. Internet- our companion and teacher
4. A comprehensive means of acquiring knowledge
5. Combines knowledge with pleasure
6. Situation in Pakistan and other developing countries
7. Conclusion
Computers are slowly but steadily creeping into our lives. They have completely changed the complexion of our work and leisure. Now architects design our houses with the help of computers. Our pay bills and utiity bills are prepared by computers. Today scientists,, doctors, engineers, musicians, accountants, soldiers, businessmen, bankers and almost everbody belonging to any field of life are using them in their day to day work. Even the book we are reading now has been typeset by a computer. We can easily predict that within a few years we will come into contact with this fast and intelligent electronic "brain" in every office, on the way to and from work and in the home.
Computers are now considered the most effective, accurate &*» and comprehensive means of acquiring knowledge any topic. From our computer we can take an aerial tour of Disneyland. We can get information from the British Museum Library or from the Library of Congress in America. With the proper equipment ijll- we can sit at our computer and communicate with someone any where in the world. We can
also use the internet to access vast amount of information including text,
graphics, sound and video in any part of the world. With the help of our computers we can send e-mail, receive electronic newsletters and even chat with others on line.
Computer combines knowledge with pleasure. Play is a natural method of learning about something. Most of the computer programmes are such tuch childrens.
of Computer Education
(Infromation Technology)
Outline:
1. Introduction
2. Uses and benefits of computer
3. Internet- our companion and teacher
4. A comprehensive means of acquiring knowledge
5. Combines knowledge with pleasure
6. Situation in Pakistan and other developing countries
7. Conclusion
Computers are slowly but steadily creeping into our lives. They have completely changed the complexion of our work and leisure. Now architects design our houses with the help of computers. Our pay bills and utiity bills are prepared by computers. Today scientists,, doctors, engineers, musicians, accountants, soldiers, businessmen, bankers and almost everbody belonging to any field of life are using them in their day to day work. Even the book we are reading now has been typeset by a computer. We can easily predict that within a few years we will come into contact with this fast and intelligent electronic "brain" in every office, on the way to and from work and in the home.
Computers are now considered the most effective, accurate &*» and comprehensive means of acquiring knowledge any topic. From our computer we can take an aerial tour of Disneyland. We can get information from the British Museum Library or from the Library of Congress in America. With the proper equipment ijll- we can sit at our computer and communicate with someone any where in the world. We can
also use the internet to access vast amount of information including text,
graphics, sound and video in any part of the world. With the help of our computers we can send e-mail, receive electronic newsletters and even chat with others on line.
Computer combines knowledge with pleasure. Play is a natural method of learning about something. Most of the computer programmes are such tuch childrens.
Tuesday, December 2, 2008
PAKISTAN INTERNET SPEED
Pakistan internet speed.
internet speed in pakistan is so slow.pakistanies Are not using DSL internet.In these Days office and banks Are using DSL.
persons Using DIAL UP 56 KBspeed 50 % persons
Person using Vweireless 230 KBspeed 10 %
person using 512 kb Most are on networking 30%
person using Really high speed 1 mb or 2mb or 3 mb Speed 10%
internet speed in pakistan is so slow.pakistanies Are not using DSL internet.In these Days office and banks Are using DSL.
persons Using DIAL UP 56 KBspeed 50 % persons
Person using Vweireless 230 KBspeed 10 %
person using 512 kb Most are on networking 30%
person using Really high speed 1 mb or 2mb or 3 mb Speed 10%
Thursday, November 13, 2008
Aztech DSL modem learn how to install
YOU RECEIVE LIKE THIS BOX OF DSL MODEM AT YOUR HOME OR OFFICE
Step1 open Box And Check ACCESSORIES
LIKE Aztech Charger
THEN you WATCH YOUR MODEM
There is Four lights in light green color
HOW TO INSTALL
There IS POWER BOTTON where write
ON off
Turn on it
then if you want to use with usb connect with
usb
otherwise
ETHERNET Is LAN place Where you
Connect A yellow cabel
and plug into pc As where LAn Card
plug charger at 220 Volts
then you Watch 2 light on
power and LAN light
Go on internet Explorer
TYPE THERE
192.168.1.1
YOU watch DILOG BOX
type ADMIN
AS USER NAME ADMIN
PASSWORD ADMIN
NOW you have been inter in modem Control panel
make new Connection
Saturday, November 8, 2008
ACCOUNT
definition of an account account is a such system which totally belongs to you , account describe a relationship withcostumers bankers friends parents relatives or computer basically account is a source where you can reserve money & other things, from my point of view there are too many types of account some one I'll discuss with u(1) Bank accounts: you know in banks we have a source where we can deposit or with drawl money. bank gives us an account profit and loss or current deposit, in profit and loss accountbank gives you profit also and collect money or tax or zakat in some circumstances and in current account neither collects tax nor gives profit. these account known as bank account we have other electronicaccounts as well as these two like credit card account ,ATM account etc,(2) Email accounts: as you know we have also sources of electronic mail accounts e.g, gmail,yahoo,msn ,hotmailanother kind of diff rent accounts like some buying and selling account through Internet some debit money credit money account from these account you can buy or sell things through Internet and you can contact any person easily through email account you can send receive massages to your friends and other person directly at spot without any further delay but for this you musthave an account we have other accounts type like hire purchase account hire sale some colleges fee account schools accounts salary accounts employee accounts students ,teacher account where every information belongs to related person your servant account and other kind of account
Friday, November 7, 2008
Kalar kahar Pakistan beautiful palace Girls Trip pictures
Girls Trip on kalar kahar near islamabad A hill and Mountains very high people Goes to the Top of this hill In the center of the way There is grave of Islamic personality People known him.
The Girls Acadmy trip go on this place Of kalar kahar the kalar kahar photos
pic of kalar kahar pictures of Kalar kahar
New picture of 2009 kalar kahar
Thursday, November 6, 2008
NON - TRADING CONCERN
Non trading conern
pakistan Accounting
SSC CSS
Accounting is Base of Account.he must now About non trading concern
in This Chapter you will discuss RECEIPTS AND PAYMENTS
Then You make EXpenditure and income Account
After Find Surplus or indecft or Written As Expenditure execcess over income
or Written Opposite
then you make balacance sheet
After TELE balance will same
Wednesday, October 29, 2008
ALLAMA IQBAL OPEN UNIVERSITY
allama iqbal open university
The book of open university Came like These bundle
The Book of open university allama iqbal
ALLAMA IQBAL OPEN UNIVERSITY
allama iqbal open university
The book of open university Came like These bundle
The Book of open university allama iqbal
Tuesday, October 28, 2008
Economics
"Economic Geography "involves considertion of geographyical and other factors which inluence man's productivity ,but only in limited deph, so far as they are connected with produciton and trade".
Economic Geography is the study of the spatial variaion on the earth's
Economic Geography is the study of the spatial variaion on the earth's
Monday, October 27, 2008
Tuesday, October 14, 2008
The Computer
The Computer are uses:
The Computer are use for Helping of Human
The Computer help in study
The computer Help in Accounting
The Computer Help in Billing
The Computer Works AS machine or calculator
The Can think or Decition But as Small kid
The Computer perform Automatic Functions
THe computer Are helper Of tecnology
The Computer Are The money Way For Big Around of World humans
The Computer are use for Helping of Human
The Computer help in study
The computer Help in Accounting
The Computer Help in Billing
The Computer Works AS machine or calculator
The Can think or Decition But as Small kid
The Computer perform Automatic Functions
THe computer Are helper Of tecnology
The Computer Are The money Way For Big Around of World humans
Sunday, September 7, 2008
OBjects OF accounting
Step1:finanical information is necessary in order to run a business in an efficient manner.Reliable information will be available only trough keeping proper of accounts.
Step2: proper accounting is essential , if money is to be borrowed for the purpose of business.The lender will only agree to lend money when he is satisfied as to the solvency of the borrower.Information available from books of accounts is the means of measuring such solvency.
step3:cash in hand can verified and any defalcation can be detected ,if proper books of accounts are maintained.
step4: payment of sales tax and income tax is only possibile if bools of accounts are maintained.
step5:In case of any dispute , books of accounts can be produced in the court of law as a documentry evidence.6: Goverment Fixes up fair prices,formulates industrail policy ,prepares economic plans , decides import -export quotas and does many other functions on the basis of accounting information available from the books of accounts
Step2: proper accounting is essential , if money is to be borrowed for the purpose of business.The lender will only agree to lend money when he is satisfied as to the solvency of the borrower.Information available from books of accounts is the means of measuring such solvency.
step3:cash in hand can verified and any defalcation can be detected ,if proper books of accounts are maintained.
step4: payment of sales tax and income tax is only possibile if bools of accounts are maintained.
step5:In case of any dispute , books of accounts can be produced in the court of law as a documentry evidence.6: Goverment Fixes up fair prices,formulates industrail policy ,prepares economic plans , decides import -export quotas and does many other functions on the basis of accounting information available from the books of accounts
LEDGER For Accounting students
does the journal replace the need For a Ledger?
No the Journal does not replace the ledger.The journal provides a complete listing of the daily transactions of a business.But It does not provide information about a specific account in one place . To know how much cash balance we have, for example the accounting clerk would in one place. To know How much cash balane we have for example the accounting clerk would have to check all the journal entries in which cash involved and this is very labourious job becuse there are hundreds or even thousand of a cash transactions we recorded on different pages of journal.To avoid the diffiulty the debits and credits of journalised transactions are transferred to Ledger accounts.Thus All the changes For a single account are located in one place in a ledger account.This makes it easy to determine the curent balance of any account.
The book in which accounts are maintained , is called Ledger.Generally , one account is opened on each page of this book,but if Transactions relations to a particullar account are numerous ,
it mat extend to more than one page.All transactions relationg to a account are recorded therein chronologically .from journal each transaction is posted to at least two concern account---Debit side of one account , and credit side of another account.Remember That if there two accounts involved in a journal entry.It will be posted to three different accounts in the ledger.This process of transferring information --debit and credit.---From journal to ledger is known as posting.The goal of all transactions is ledger
No the Journal does not replace the ledger.The journal provides a complete listing of the daily transactions of a business.But It does not provide information about a specific account in one place . To know how much cash balance we have, for example the accounting clerk would in one place. To know How much cash balane we have for example the accounting clerk would have to check all the journal entries in which cash involved and this is very labourious job becuse there are hundreds or even thousand of a cash transactions we recorded on different pages of journal.To avoid the diffiulty the debits and credits of journalised transactions are transferred to Ledger accounts.Thus All the changes For a single account are located in one place in a ledger account.This makes it easy to determine the curent balance of any account.
The book in which accounts are maintained , is called Ledger.Generally , one account is opened on each page of this book,but if Transactions relations to a particullar account are numerous ,
it mat extend to more than one page.All transactions relationg to a account are recorded therein chronologically .from journal each transaction is posted to at least two concern account---Debit side of one account , and credit side of another account.Remember That if there two accounts involved in a journal entry.It will be posted to three different accounts in the ledger.This process of transferring information --debit and credit.---From journal to ledger is known as posting.The goal of all transactions is ledger
accounting concepts
separete entity concept:
accounts are kept for entities, as distinguished from the person who are associated with these entities . in recording events in accounting , the importent question is : ''how do these events affect the entity ? how they affect the persons who own , operate , or otherwise are associated with the entity is irrelevant. For example when a person invest Rs 200.000 into business
it will be deemed that the owner has given that money . to the business which will be shown as a liability in the books of the business.in case the owner withdraws RS.170,000
The Concept of separate entity is applicable to all forms of business organazation , Forexample , In case of a sole proprietorship or partnership business Though the sole propritership and patner are not considered as separate entities in the eyes of law , but for accounting purpose they will be considered as separate entities.
Going Concern Concept:
according to this concept it is assumed that an entity is a oing concern ----That it will continue to operate for an indefinite time period there is no intention to liqrate the particular business venture in the foreseeable future.On account of this concept , the accountant while valuin the asset does not take into account the sale value of assets . moreover , he chares deprecation on fixed assets on the basis of their expected life rather than on their markets values.
For example.
suppose that a company has just purchased a three- year insurance policy for Rs45,000 , if we assume that the business will continue in operation
accounts are kept for entities, as distinguished from the person who are associated with these entities . in recording events in accounting , the importent question is : ''how do these events affect the entity ? how they affect the persons who own , operate , or otherwise are associated with the entity is irrelevant. For example when a person invest Rs 200.000 into business
it will be deemed that the owner has given that money . to the business which will be shown as a liability in the books of the business.in case the owner withdraws RS.170,000
The Concept of separate entity is applicable to all forms of business organazation , Forexample , In case of a sole proprietorship or partnership business Though the sole propritership and patner are not considered as separate entities in the eyes of law , but for accounting purpose they will be considered as separate entities.
Going Concern Concept:
according to this concept it is assumed that an entity is a oing concern ----That it will continue to operate for an indefinite time period there is no intention to liqrate the particular business venture in the foreseeable future.On account of this concept , the accountant while valuin the asset does not take into account the sale value of assets . moreover , he chares deprecation on fixed assets on the basis of their expected life rather than on their markets values.
For example.
suppose that a company has just purchased a three- year insurance policy for Rs45,000 , if we assume that the business will continue in operation
Accounting Complete Details for All Students
acceptance bad debts
accrued income
balanced account
accommodation bill
balance sheet
acceptance for honour
balanceing
accounts clerk
balacing procedure
accounts
bank account
accounts department
bank discount
accumulated depreciation
bank reconciliation statement
accountancy
bank statement
accountant
bearer cheque
accounting
bill
accounting of bill
bill of exchange
accounting period
book-keeping
accounting cyle
book value
account book
business
account holder
business concern
accumulared profit
calls in advance
accumulated entries
called up capital
adjustment
capital
adjustment of receivables
capital accounts
administrative expense
capital expenditures
allowance
capitalised expenditures
allowed discount
capital income
allotment money
capital receipts
amalgamate
carriage
amount of remittance
cash
amount recevable
cash account
article of association
cash book
assets
cash discount
authorised capital
cash in bank
cash in hand
cash memo
cash on hand
cash on hand
cash purchases
cash sale
cash transactions
casting
certificate of incorporation
charges
cheque
classification
closing stock
clossing entries
collection charges
column
commerce
commercial bank
commercial terms
commision
compensating errors
compund entries
consignee
consignor
consignment
consignment account
consignment agreement
contra entry
corresponding entries
counterfoil
credit
credit balance
credit entry
credit institutions
credit purchases
credit sale
credit transaction
creditors
crossed cheque
current account
current assets
current liabilities
custom duty
day book
days of grace
debentures
debit
debit account
debit balance
debit entry
debit side
debtor
deffered expenses
deprecialtion
determination of depreciation
dimishing balance method
discount
discount account
discount allowed
disccounting of bill
discount receivable
dishonour
dishonour of bill
direct expense
dissolution
distribution expense
dividend
double entry
doubtful debts
drawee
drawer
drawing
due date
duty
entry
endorsement
entertainment expense
errors of omission
errors of commision
erorrs of original entries
errors of principle
essentials of bill
execptional expense
Evalution
Excise duty
Extracted
final accounts
financial expense
financial loss
financial position
financial statement
finished goods
firm
fiscal
fixed
fixed assets
fixed capital account
fixed capital method
fixed deposits
fixed insalment method
fixed liabilities
flexible
floating assets
floating liabilities
fluction capital
fluction capital method
folio
foreign bill
forfeture of shares
form of journal
founder shares
freight
foundation
foundamental
general charges
goods
goodwill
goodwill account
gross
gross proceeds of consignment
heads of accounts
hire purchases
llustration
imprest
income
incomporation stage
incure
index
inderect income
indirect expense
industriial
inland bill
irrecoverable debts
insolvent
intanggible
interest
instalment purchases
insurance companies
inventory
invoice
issued capital
issue at a discount
issue at a premium
issue shares at par
joint stock company
journal
journal proper
main ledger
overdraft
patnership
journalise
offer
journalising rules
office equipment
Ledger
Legal charges
Legal position
Liabilities
Limited Liabilities
Liquid assets
List of balance
Loan account
location of company
location of errors
Long patnership
Long term liabilities
Loss
Main Ledger
Memoradum of association
Misellaneous journal
Misecellaneous expense
mortgage
narration
net loss
Net profit
Nominal account
nominal capital
non-trading concerns
objectives
octrori duty
offer
office equipment
Omission of posting
OPening stock
Ordinary Shares
organizatoin
original Capital
original entry
Original record
Outstanding assets
Paid up capital
Particulers
parties to a bill
party sold
partner
partnership
partnership account
patnership act
patner capital account
pass book
patent right
payable expenses
payee
paying-in-slip
payment
personal acount
petty cash book
posting
posting on wrong account
posting on wrong side
preferred shares
preliminary shares
preliminary expenses
premium
pre-paid insurrance
pre-receipts
prescribe form
price list
private limited companies
procedure
proceeds
proforma invoice
profit and loss accouunt
profit and loss approation account
profit and loss sharing ratio
promotion
promoters
prospectus
propritor
proprietorship
provision
public company
purchase
purchase account
purchase journal
Raising of shares
real account
Realization
Realization account
receipt
receipt counter
Rectification
Registered
Relevant Accounts
remuneration
Renewal
rent
Repairs charges
Reserve
Residual Value
Reail business
Retailer
retirement
return
return inward
return outward
Revaluation method
Revaluation of assets
sales account
sale agreement
sale
sales journal
sale return journal
saving account
secret reserves
self-assesment
self balancing ledger
selling and distribution expense
share
share capital
shift
shifting
short partnership
simple final account
sinking fund
sole proprietor
sole trader
specific
stamp duty
statement
stock
straight line method
sub
subscription
subsidiary book
sundry
terms
three column cash book
title
total
trade discount
trading account
trading period
trial balance
transaction
travelling expenses
un-called capital
un-earned income
vertical
voucher
wages
wages payable
winding up
whole sale business
work sheet
written down value.
cheque
goods
investment
accounting cycle
gross total
octri duty
accrued income
balanced account
accommodation bill
balance sheet
acceptance for honour
balanceing
accounts clerk
balacing procedure
accounts
bank account
accounts department
bank discount
accumulated depreciation
bank reconciliation statement
accountancy
bank statement
accountant
bearer cheque
accounting
bill
accounting of bill
bill of exchange
accounting period
book-keeping
accounting cyle
book value
account book
business
account holder
business concern
accumulared profit
calls in advance
accumulated entries
called up capital
adjustment
capital
adjustment of receivables
capital accounts
administrative expense
capital expenditures
allowance
capitalised expenditures
allowed discount
capital income
allotment money
capital receipts
amalgamate
carriage
amount of remittance
cash
amount recevable
cash account
article of association
cash book
assets
cash discount
authorised capital
cash in bank
cash in hand
cash memo
cash on hand
cash on hand
cash purchases
cash sale
cash transactions
casting
certificate of incorporation
charges
cheque
classification
closing stock
clossing entries
collection charges
column
commerce
commercial bank
commercial terms
commision
compensating errors
compund entries
consignee
consignor
consignment
consignment account
consignment agreement
contra entry
corresponding entries
counterfoil
credit
credit balance
credit entry
credit institutions
credit purchases
credit sale
credit transaction
creditors
crossed cheque
current account
current assets
current liabilities
custom duty
day book
days of grace
debentures
debit
debit account
debit balance
debit entry
debit side
debtor
deffered expenses
deprecialtion
determination of depreciation
dimishing balance method
discount
discount account
discount allowed
disccounting of bill
discount receivable
dishonour
dishonour of bill
direct expense
dissolution
distribution expense
dividend
double entry
doubtful debts
drawee
drawer
drawing
due date
duty
entry
endorsement
entertainment expense
errors of omission
errors of commision
erorrs of original entries
errors of principle
essentials of bill
execptional expense
Evalution
Excise duty
Extracted
final accounts
financial expense
financial loss
financial position
financial statement
finished goods
firm
fiscal
fixed
fixed assets
fixed capital account
fixed capital method
fixed deposits
fixed insalment method
fixed liabilities
flexible
floating assets
floating liabilities
fluction capital
fluction capital method
folio
foreign bill
forfeture of shares
form of journal
founder shares
freight
foundation
foundamental
general charges
goods
goodwill
goodwill account
gross
gross proceeds of consignment
heads of accounts
hire purchases
llustration
imprest
income
incomporation stage
incure
index
inderect income
indirect expense
industriial
inland bill
irrecoverable debts
insolvent
intanggible
interest
instalment purchases
insurance companies
inventory
invoice
issued capital
issue at a discount
issue at a premium
issue shares at par
joint stock company
journal
journal proper
main ledger
overdraft
patnership
journalise
offer
journalising rules
office equipment
Ledger
Legal charges
Legal position
Liabilities
Limited Liabilities
Liquid assets
List of balance
Loan account
location of company
location of errors
Long patnership
Long term liabilities
Loss
Main Ledger
Memoradum of association
Misellaneous journal
Misecellaneous expense
mortgage
narration
net loss
Net profit
Nominal account
nominal capital
non-trading concerns
objectives
octrori duty
offer
office equipment
Omission of posting
OPening stock
Ordinary Shares
organizatoin
original Capital
original entry
Original record
Outstanding assets
Paid up capital
Particulers
parties to a bill
party sold
partner
partnership
partnership account
patnership act
patner capital account
pass book
patent right
payable expenses
payee
paying-in-slip
payment
personal acount
petty cash book
posting
posting on wrong account
posting on wrong side
preferred shares
preliminary shares
preliminary expenses
premium
pre-paid insurrance
pre-receipts
prescribe form
price list
private limited companies
procedure
proceeds
proforma invoice
profit and loss accouunt
profit and loss approation account
profit and loss sharing ratio
promotion
promoters
prospectus
propritor
proprietorship
provision
public company
purchase
purchase account
purchase journal
Raising of shares
real account
Realization
Realization account
receipt
receipt counter
Rectification
Registered
Relevant Accounts
remuneration
Renewal
rent
Repairs charges
Reserve
Residual Value
Reail business
Retailer
retirement
return
return inward
return outward
Revaluation method
Revaluation of assets
sales account
sale agreement
sale
sales journal
sale return journal
saving account
secret reserves
self-assesment
self balancing ledger
selling and distribution expense
share
share capital
shift
shifting
short partnership
simple final account
sinking fund
sole proprietor
sole trader
specific
stamp duty
statement
stock
straight line method
sub
subscription
subsidiary book
sundry
terms
three column cash book
title
total
trade discount
trading account
trading period
trial balance
transaction
travelling expenses
un-called capital
un-earned income
vertical
voucher
wages
wages payable
winding up
whole sale business
work sheet
written down value.
cheque
goods
investment
accounting cycle
gross total
octri duty
Thursday, August 7, 2008
Capital and Revenue profit &Loss All Chapters Details
capital and Revenue profit
Capital Proft:
capital profit is a profit which is earned on the sale of a fixed asset or profit earned on raising capital for a company (by issuing shares at premium).This is not a regular profit of the business and is not earned in the ordinary trade of the buniness .For example if a machinary having book valu of Rs 50,000is sold for 60,000 the profit of the 10,000 will be a capital Profit . In the same way, A joint stock company issues shares of 2,00,000 at a premium of Rs .10.000 to raise capital .such premium of Rs 10.000 Will be a capital Profit.
REVENUE PROFIT:
this is a profit which is earned during the ordinary course of the business E.G profit on sale of goods rent received interest received etc.
CAPITAL AND REVENUE LOSSES
CAPITAL LOSS:
This is a loss suffered by a business on the sale of a fixed asset or it is incurred on raising capital of joint stock company.This is not a recurring loss and is not made in the ordinary course of the business.Forexample A machinary having book value of Rs 50.000 is sold for 45,000 the loss for Rs 5000 is a capital loss in the same way a company issued shares of Rs 1,00,000 At 10% discount the loss of the 10.000 is a capital loss.Capital loss is shown in the balance sheet on the asset side as a fictious asset which is gradually written off out of the profits every year.
REVENUE LOSS:
this is made in the ordinary course or day to day operation of a business such as loss on sale of goods etc.Revenue loss appears in the profit and loss account or income statement in the year in which it occurs.
CAPITAL AND REVENUE PAYMENTS
it may be noted that there is a difference between an expenditure and payment.Expenditure is the full amount spent by a business whether paid or yet to be paid while payment means the amount actully paid.For example A machinary is purchased for Rs 50.000 from saleem & co Rs 30.000 but the payment is Rs 30.000 Only.
CAPITAL PAYMENTS :
This is an amount which is actually paid on account of a capital expenditure.
REVENUE PAYMENTS:
This is an amount which is actully paid on account of some revenue expenditure .for example we purchase goods of Rs 30,000 this is a revenue expenditure of Rs 30,000 .we paid cash to the supplier only Rs 20,000 This is a revenue payment.if the whole amount is paid amount is paid in cash , then both the revenue expenditure as well as revenue payment will be Rs 30.000.
Capital Proft:
capital profit is a profit which is earned on the sale of a fixed asset or profit earned on raising capital for a company (by issuing shares at premium).This is not a regular profit of the business and is not earned in the ordinary trade of the buniness .For example if a machinary having book valu of Rs 50,000is sold for 60,000 the profit of the 10,000 will be a capital Profit . In the same way, A joint stock company issues shares of 2,00,000 at a premium of Rs .10.000 to raise capital .such premium of Rs 10.000 Will be a capital Profit.
REVENUE PROFIT:
this is a profit which is earned during the ordinary course of the business E.G profit on sale of goods rent received interest received etc.
CAPITAL AND REVENUE LOSSES
CAPITAL LOSS:
This is a loss suffered by a business on the sale of a fixed asset or it is incurred on raising capital of joint stock company.This is not a recurring loss and is not made in the ordinary course of the business.Forexample A machinary having book value of Rs 50.000 is sold for 45,000 the loss for Rs 5000 is a capital loss in the same way a company issued shares of Rs 1,00,000 At 10% discount the loss of the 10.000 is a capital loss.Capital loss is shown in the balance sheet on the asset side as a fictious asset which is gradually written off out of the profits every year.
REVENUE LOSS:
this is made in the ordinary course or day to day operation of a business such as loss on sale of goods etc.Revenue loss appears in the profit and loss account or income statement in the year in which it occurs.
CAPITAL AND REVENUE PAYMENTS
it may be noted that there is a difference between an expenditure and payment.Expenditure is the full amount spent by a business whether paid or yet to be paid while payment means the amount actully paid.For example A machinary is purchased for Rs 50.000 from saleem & co Rs 30.000 but the payment is Rs 30.000 Only.
CAPITAL PAYMENTS :
This is an amount which is actually paid on account of a capital expenditure.
REVENUE PAYMENTS:
This is an amount which is actully paid on account of some revenue expenditure .for example we purchase goods of Rs 30,000 this is a revenue expenditure of Rs 30,000 .we paid cash to the supplier only Rs 20,000 This is a revenue payment.if the whole amount is paid amount is paid in cash , then both the revenue expenditure as well as revenue payment will be Rs 30.000.
Wednesday, August 6, 2008
The Basic Information About Accounting Rules Details of Final Accounts Elements of Accounting
OPENING STOCK ALL THESE NOTES ARE RELATED TO DEBITD SIDE
it is unsold of the last year’s purchase. it is available from stock A/c in the ledger and has debit balance in the Trial Balance. It indicates the value Of good lying unsold at the end f last year. Now it will become A part of the current Year’s Purchases. Last Year’s closing stock is current Year’s opening stock Again. Current Year, s Closing stock will be next year, s opening stock .In the case of a newly set up business There cannot however, be any opening stock.
Purchases:
it is the value of all goods purchased in the current accounting year and it is available from purchases A/c in the Ledger .Purchases Return Are deducted From purchases and Net Purchases are shown on the debit side of the Trading account.
Carriage inward:
it means the expenses incurred on bringing purchased goods from the place where they have been purchased, To the shop or go down of the business :It should be Remembered That expenses for sending sold goods to customer ,s shop or house are not recorded in this account. They are debited To carriage outwards A/c an indirect expense which is transferred to profit and loss A/c .carriage inward is transferred to the debit side of the Trading A/c sometime in examination ,Only the word carriage is mentioned .In the That case it should be regarded carriage inward and debited to the Trading A/c.
Wages :
This refers to the Remuneration Paid To the workers For the Loading And unloading of purchased goods or it is the remuneration Paid to the workers who are directly engaged in productive activities .Any how This is an expense which is directly related with salable goods an is always debited the the trading account.
INSURANCE IN TRANSIT:
while bringing goods from outside, they may be destroyed or stolen in transit .south loss may be insured against. The amount of premium paid to the insurance company is debit to the insurance in Transit a/c and is transferred to the debit side of the trading a/c being an expense connected with the purchased of goods.
In this connection , it should be noted that premium paid for insurance of building ,plant machinery furniture stock etc..Against loss by fire or accident is debited To profit and Loss account being and indirect expense.
CUSTOMS DUTY:
The duty imposed by government on import &export of gods is known as customs duty. customs duty is of two types-import duty &export duty .duty paid on goods imported from Abroad is known as import duty and is debited to the Trading A/c but Duty paid on goods exported expense connected with sales, is debited to profit and loss account so import duty on goods purchased from abroad is a direct expense and export duty on goods sold is indirect expense.
CLEARING CHARGES :
in case of imports from abroad goods are cleared from ports. For this port authorities charges something which is called clearing charges. This is a direct expense and is debited To Trading Account.
FREIGHT INWARDS:
charges paid on bringing purchased goods from abroad through steamer, rail or air are known as freight inward. being an expense connected with purchased of goods it is debited to the Trading Account
EXCISE DUTY ON GOODS MANAFACTURED:
duty imposed by the movement on goods manufactured or produced within the country, is called excise duty. This being an expense connected with salable goods or production , is debited to the manufacturing account or trading account as the case maybe.
ROYALTY:
in a word, royalty means rent. A manufacturer has to pay such rent. when he acquires the right to produce an article. For example , amount payable to the owner of patent for the use of patent right ,amount payable to the author of a book an acquiring the right to publish this book tec. it should be noted here that royalty may be based on either production of goods or sale of goods. when the royalty is paid on production.
DOCK CHARGES:
these are the dues imposed on ships and their cargoes when they are unloaded on the port. This is a direct expense and debited to the TRADING ACCOUNT.
COAL ,COKE FUEL ,GAS OIL ,MOTIVE POWER ETC..
these items of expenditure being connected with production of goods (as required to run the plant a machinery) should be debited to the manufacturing Account or the Trading a/c as the case maybe.
OCTORI DUTY:
This is a duty which is imposed by the municipal corporation of the municipal committee when goods purchased enters its territory .so when the goods are purchased from another city, this duty has to be paid. it is an expense connected with purchase of good and is debited to the Trading A/c..
CONSUMEABLE STORES:
These are the expenses incurred to keep the machine in right condition and include engine oil, soft soap cotton waste oil grease and waste consumed in factory .The amount of such stores consumed during he year will be debited to the trading a/c.
MANUFACTURING EXPENSES:
all expenses incurred in manufacturing or producing the goods in a factory insurance, Factory rent , depreciation on factory building ,lighting are direct expense and ar debited to manufacturing ac or Trading a/c as the case maybe.
Now ALL NOTES OF ACCOUNTING WILL BE TREATED AS CREDIT SIDE BALANCE
SALES:
it is the value of all the goods sold during the current accounting year and it is available from the sale a/c in the Ledger .It is a Major source of revenue in a business which deals in goods .Sales return are deducted from sales and the net sales are shown on the credit side of the Trading A/c
STOCK CLOSSING:
it indicates the value of goods lying unsold at the end of the current accounting year. At the End of the year a list of unsold goods is prepared showing the quantity and value of each item. The Total Of the list represents the value of closing stock. The list should be prepared with utmost care and attention .ALTHOUGH closing stock in an asset, yet it is shown on the credit of the trading account.
it is unsold of the last year’s purchase. it is available from stock A/c in the ledger and has debit balance in the Trial Balance. It indicates the value Of good lying unsold at the end f last year. Now it will become A part of the current Year’s Purchases. Last Year’s closing stock is current Year’s opening stock Again. Current Year, s Closing stock will be next year, s opening stock .In the case of a newly set up business There cannot however, be any opening stock.
Purchases:
it is the value of all goods purchased in the current accounting year and it is available from purchases A/c in the Ledger .Purchases Return Are deducted From purchases and Net Purchases are shown on the debit side of the Trading account.
Carriage inward:
it means the expenses incurred on bringing purchased goods from the place where they have been purchased, To the shop or go down of the business :It should be Remembered That expenses for sending sold goods to customer ,s shop or house are not recorded in this account. They are debited To carriage outwards A/c an indirect expense which is transferred to profit and loss A/c .carriage inward is transferred to the debit side of the Trading A/c sometime in examination ,Only the word carriage is mentioned .In the That case it should be regarded carriage inward and debited to the Trading A/c.
Wages :
This refers to the Remuneration Paid To the workers For the Loading And unloading of purchased goods or it is the remuneration Paid to the workers who are directly engaged in productive activities .Any how This is an expense which is directly related with salable goods an is always debited the the trading account.
INSURANCE IN TRANSIT:
while bringing goods from outside, they may be destroyed or stolen in transit .south loss may be insured against. The amount of premium paid to the insurance company is debit to the insurance in Transit a/c and is transferred to the debit side of the trading a/c being an expense connected with the purchased of goods.
In this connection , it should be noted that premium paid for insurance of building ,plant machinery furniture stock etc..Against loss by fire or accident is debited To profit and Loss account being and indirect expense.
CUSTOMS DUTY:
The duty imposed by government on import &export of gods is known as customs duty. customs duty is of two types-import duty &export duty .duty paid on goods imported from Abroad is known as import duty and is debited to the Trading A/c but Duty paid on goods exported expense connected with sales, is debited to profit and loss account so import duty on goods purchased from abroad is a direct expense and export duty on goods sold is indirect expense.
CLEARING CHARGES :
in case of imports from abroad goods are cleared from ports. For this port authorities charges something which is called clearing charges. This is a direct expense and is debited To Trading Account.
FREIGHT INWARDS:
charges paid on bringing purchased goods from abroad through steamer, rail or air are known as freight inward. being an expense connected with purchased of goods it is debited to the Trading Account
EXCISE DUTY ON GOODS MANAFACTURED:
duty imposed by the movement on goods manufactured or produced within the country, is called excise duty. This being an expense connected with salable goods or production , is debited to the manufacturing account or trading account as the case maybe.
ROYALTY:
in a word, royalty means rent. A manufacturer has to pay such rent. when he acquires the right to produce an article. For example , amount payable to the owner of patent for the use of patent right ,amount payable to the author of a book an acquiring the right to publish this book tec. it should be noted here that royalty may be based on either production of goods or sale of goods. when the royalty is paid on production.
DOCK CHARGES:
these are the dues imposed on ships and their cargoes when they are unloaded on the port. This is a direct expense and debited to the TRADING ACCOUNT.
COAL ,COKE FUEL ,GAS OIL ,MOTIVE POWER ETC..
these items of expenditure being connected with production of goods (as required to run the plant a machinery) should be debited to the manufacturing Account or the Trading a/c as the case maybe.
OCTORI DUTY:
This is a duty which is imposed by the municipal corporation of the municipal committee when goods purchased enters its territory .so when the goods are purchased from another city, this duty has to be paid. it is an expense connected with purchase of good and is debited to the Trading A/c..
CONSUMEABLE STORES:
These are the expenses incurred to keep the machine in right condition and include engine oil, soft soap cotton waste oil grease and waste consumed in factory .The amount of such stores consumed during he year will be debited to the trading a/c.
MANUFACTURING EXPENSES:
all expenses incurred in manufacturing or producing the goods in a factory insurance, Factory rent , depreciation on factory building ,lighting are direct expense and ar debited to manufacturing ac or Trading a/c as the case maybe.
Now ALL NOTES OF ACCOUNTING WILL BE TREATED AS CREDIT SIDE BALANCE
SALES:
it is the value of all the goods sold during the current accounting year and it is available from the sale a/c in the Ledger .It is a Major source of revenue in a business which deals in goods .Sales return are deducted from sales and the net sales are shown on the credit side of the Trading A/c
STOCK CLOSSING:
it indicates the value of goods lying unsold at the end of the current accounting year. At the End of the year a list of unsold goods is prepared showing the quantity and value of each item. The Total Of the list represents the value of closing stock. The list should be prepared with utmost care and attention .ALTHOUGH closing stock in an asset, yet it is shown on the credit of the trading account.
Types of Accounts Accounts Names Details in Accounting
Types of Accounts
furniture Account drawings account capital account cash account sales account person account x &co account bank account purchase a/c electric fitting account air-condition account service ind account bank a/c printing charges account stationary account carriage account wages account rent account salaries account debtors account creditors account
building account machinery account bills receivable accounts bill payable accounts debtors accounts creditors accounts cash account Discount account commission account Repairs accounts insurance account
furniture Account drawings account capital account cash account sales account person account x &co account bank account purchase a/c electric fitting account air-condition account service ind account bank a/c printing charges account stationary account carriage account wages account rent account salaries account debtors account creditors account
building account machinery account bills receivable accounts bill payable accounts debtors accounts creditors accounts cash account Discount account commission account Repairs accounts insurance account
Bank Reconciliation Statement BRS
WHAT is Meant By Reconciliation?
if there is a dispute between two friends, ir they fail to agree about some matte, the disagreement may Temporarily end the friendship between them .when They became friends again we say they have reconciled With one another. Reconciliation is therefore , resuming of friendly relations as a result of reasonable explanation between them.
if there is any discrepancy between the balance of cash book and that if pass book ,the depositor prepares a statement to explain the causes of discrepancies and to reconcile the two balances. This statement of explanation is called "Bank Reconciliation Statement"
The idea of the bank reconciliation statement is to discover the various things the bank has done in the pass book which cashier was not aware of, put right anything that is wrong and draw up a logical explanation of remaining differences which are not wrong but are they delayed from being right by the time Lag.
if there is a dispute between two friends, ir they fail to agree about some matte, the disagreement may Temporarily end the friendship between them .when They became friends again we say they have reconciled With one another. Reconciliation is therefore , resuming of friendly relations as a result of reasonable explanation between them.
if there is any discrepancy between the balance of cash book and that if pass book ,the depositor prepares a statement to explain the causes of discrepancies and to reconcile the two balances. This statement of explanation is called "Bank Reconciliation Statement"
The idea of the bank reconciliation statement is to discover the various things the bank has done in the pass book which cashier was not aware of, put right anything that is wrong and draw up a logical explanation of remaining differences which are not wrong but are they delayed from being right by the time Lag.
NORMAL BALANCE IN ACCOUNTING Debit Credit
The normal balance of various accounts are illustrated Below.
Accounts pf assets normally have = Debit Balance
Accounts of Expenses normally Have = Debit Balance
Accounts of Revenue Normally Have =Credit Balance
Accounts of LiaBilities Normally have =Credit Balance
Accounts of owner (Capital)normally =Credit Balance
Accounts pf assets normally have = Debit Balance
Accounts of Expenses normally Have = Debit Balance
Accounts of Revenue Normally Have =Credit Balance
Accounts of LiaBilities Normally have =Credit Balance
Accounts of owner (Capital)normally =Credit Balance
Accounting Questions Answers About Ledger Balance Bank cheque crossed cheque endoresment
what is ledger?
The book in which all the transactions of a business concern are finally recorded in the concerned accounts in a summarized and classified form is called ledger.
Why is the ledger called ""king of all books""?
The ledger is called the king of all books of accounts becuse all the entries from the books of original entry must be posted to the various accounts in the ledger.
explain the term balance.?
The balance is an accounting term which means the difference between the two side of an account.
Explain the term blance.?
The process of equalizing the two sides of an acoount is known as balancing.
what are kind of ledger?
generally the following three kinds of ledger are maintained by organizations
Debtor ledger
creditors ledger
Define the term Bank?
A bank may be defined as an insitution which purchases and sells money,and transacts others financial business of like nature.
What are the Primary functions of a bank?
The primary functions of a bank are yo borrow money and to lend it bank borrow money in the shape of desposits and lend it in various ways.
define cheque?
A cheque is an unconditional order in writing ,drawn by a customer on his bank ,requesting to pay on demand a certain sum of money,to a person named in the cheque .
what is crossed cheque?
When two parallel lines are drawn across the face of a cheque it is to be a crossed cheque.
When a cheque will be dishonoured?
when rhe cheque is not paid by the drawee bank,it is said to be dishnoured.
Define the term endorsement?
it is a act of signing on the back of the cheque in order to tranfer it to someone else who is called endorsee.
What is a bank -draft?
bank draft is one of the means of transferring money from one place to another.
what is a hundis?
A hundi is exactly like a bank draft.it is drawn by one trading firm upon its branches.
Explain the postal order?
postal order like cheque are also written orders made by one post office on another .whenever the amount of money to be sent by one person to another is small postal orders serve the same purpose as bank draft.
define the bill of exchane ?
Bill of exchange:
A bill of exchange is an instrument in writting containing an unconditional order signed by maker of a certain person or to athe bearer of the instrument.
What are the main features of a bill of exchange?
1 it must be in writtting
2 it must be sign by the maker
3 it must be unconditional order to pay.
4 The maker must direct a certain person to pay a certain sum of money.
Define drawer?
The creditors who writes out the bill of exchange, is called the drawer.
Define drawee :
the debtors the persons a whom the bill is drawn who accepts the bill of exchange , is called the drawee.
payee:
The payee the person to whom the money is payable when bill of exchange is used as mean of settlement of two parties.
define promissory note?
an instrument in writting containing unconditional undertaking sign by the maker to pay a certain sum of money only to the order of a certain person or to the bearer of the instrument.
Parties involve in promissory note?
The maker?
who signs the note and agrees to pay the amount on due date
The payee to whom the amount is payable.\
Define the Subsidiary books?
The journal is sub-divided into different journals known as the subsidiary books ,which are recorded the details of transactions as they take place from day to day , in a classified manner?
What is cash book?
The cash book is a sub-division of the book of original entry recording transactions involving receipts or payment of cash.
define voucher:
voucher are documents containing evidences of payment and receipts.
Single column cash book.
The single column cash book makes a record of only cash transactions and it is just like ant other cash account. in the cash book , all cash receipt recorded on the left hand side and all cash payments on the right hand side.
double column cash book:
The cash book which cash and bank transactions involving receipt and payments cheques
Define the contra entry:
A transactions in which cash a/c and bank a/c are involved is recorded on both the sides of double column cash book it is called contra entry.
What is a bank reconciliation statement?
Bank reconciliation statement is a statement balances as per the cash book and bank statement.
The book in which all the transactions of a business concern are finally recorded in the concerned accounts in a summarized and classified form is called ledger.
Why is the ledger called ""king of all books""?
The ledger is called the king of all books of accounts becuse all the entries from the books of original entry must be posted to the various accounts in the ledger.
explain the term balance.?
The balance is an accounting term which means the difference between the two side of an account.
Explain the term blance.?
The process of equalizing the two sides of an acoount is known as balancing.
what are kind of ledger?
generally the following three kinds of ledger are maintained by organizations
Debtor ledger
creditors ledger
Define the term Bank?
A bank may be defined as an insitution which purchases and sells money,and transacts others financial business of like nature.
What are the Primary functions of a bank?
The primary functions of a bank are yo borrow money and to lend it bank borrow money in the shape of desposits and lend it in various ways.
define cheque?
A cheque is an unconditional order in writing ,drawn by a customer on his bank ,requesting to pay on demand a certain sum of money,to a person named in the cheque .
what is crossed cheque?
When two parallel lines are drawn across the face of a cheque it is to be a crossed cheque.
When a cheque will be dishonoured?
when rhe cheque is not paid by the drawee bank,it is said to be dishnoured.
Define the term endorsement?
it is a act of signing on the back of the cheque in order to tranfer it to someone else who is called endorsee.
What is a bank -draft?
bank draft is one of the means of transferring money from one place to another.
what is a hundis?
A hundi is exactly like a bank draft.it is drawn by one trading firm upon its branches.
Explain the postal order?
postal order like cheque are also written orders made by one post office on another .whenever the amount of money to be sent by one person to another is small postal orders serve the same purpose as bank draft.
define the bill of exchane ?
Bill of exchange:
A bill of exchange is an instrument in writting containing an unconditional order signed by maker of a certain person or to athe bearer of the instrument.
What are the main features of a bill of exchange?
1 it must be in writtting
2 it must be sign by the maker
3 it must be unconditional order to pay.
4 The maker must direct a certain person to pay a certain sum of money.
Define drawer?
The creditors who writes out the bill of exchange, is called the drawer.
Define drawee :
the debtors the persons a whom the bill is drawn who accepts the bill of exchange , is called the drawee.
payee:
The payee the person to whom the money is payable when bill of exchange is used as mean of settlement of two parties.
define promissory note?
an instrument in writting containing unconditional undertaking sign by the maker to pay a certain sum of money only to the order of a certain person or to the bearer of the instrument.
Parties involve in promissory note?
The maker?
who signs the note and agrees to pay the amount on due date
The payee to whom the amount is payable.\
Define the Subsidiary books?
The journal is sub-divided into different journals known as the subsidiary books ,which are recorded the details of transactions as they take place from day to day , in a classified manner?
What is cash book?
The cash book is a sub-division of the book of original entry recording transactions involving receipts or payment of cash.
define voucher:
voucher are documents containing evidences of payment and receipts.
Single column cash book.
The single column cash book makes a record of only cash transactions and it is just like ant other cash account. in the cash book , all cash receipt recorded on the left hand side and all cash payments on the right hand side.
double column cash book:
The cash book which cash and bank transactions involving receipt and payments cheques
Define the contra entry:
A transactions in which cash a/c and bank a/c are involved is recorded on both the sides of double column cash book it is called contra entry.
What is a bank reconciliation statement?
Bank reconciliation statement is a statement balances as per the cash book and bank statement.
Wednesday, July 30, 2008
Study
we always need to study but we always most of our time pass for only watch tv or in plays of some kind but its my thinking where all peopls are going
we need to search but question is that we can we search yes its a good question how can we learn new things
i have short answer for that I think we should read mostly books becuse books are only the one way to go to directly success..
we can achive a war without having guns without having planes knife
Answer is that we should Find the solotion in study and make our mind creative we can do anything...
we need to search but question is that we can we search yes its a good question how can we learn new things
i have short answer for that I think we should read mostly books becuse books are only the one way to go to directly success..
we can achive a war without having guns without having planes knife
Answer is that we should Find the solotion in study and make our mind creative we can do anything...
Accounting Design of Trading and profit and loss account
ACCounting
new accounting softwares are going so well you can esily find accounting softwares.in accounting there is Concepts
of accounting like matching concept all concept are shows expenses and income diffrences.
Income:
A person who received a money against is servies is called reveniew or income.
Final accounts
There is some starts in accounts of finals accounts.final accounts shows like this AT THE END OF THIS YEARS 2000
ACCounts are shows this balances.
the we draw rows and columns. TRADING AND PROFIT AND LOSS ACCOUT
after it we start to write like this
DEBIT SITE expenses Income Credit SIde
Opening stock
purchases Sales
purchases return sales return
wages
carriage inward clossing stock
This is an example of Trading account Now i show you profit and loss accout and Then we disscuss balance sheet
Expenses Income
gernal expense Gross profit
carriage outward discount receive
office expense commission receive
stationary
plaints
plant and michenry
deprication
repair
furniture
fan purchase
computer purchase
rent
office rent
cleaning charges
bank charges
commision NEt profit
discount
This is and example of profit and loss acount
Now we will discuss Balance sheet
ASSets Libilites
plant and michanry Bill payable
cash net profit
cash in hand Purchases return
cash at bank
bill reciveable
petty cash
building
clossing stock
balance Will came same balance will came same..
new accounting softwares are going so well you can esily find accounting softwares.in accounting there is Concepts
of accounting like matching concept all concept are shows expenses and income diffrences.
Income:
A person who received a money against is servies is called reveniew or income.
Final accounts
There is some starts in accounts of finals accounts.final accounts shows like this AT THE END OF THIS YEARS 2000
ACCounts are shows this balances.
the we draw rows and columns. TRADING AND PROFIT AND LOSS ACCOUT
after it we start to write like this
DEBIT SITE expenses Income Credit SIde
Opening stock
purchases Sales
purchases return sales return
wages
carriage inward clossing stock
This is an example of Trading account Now i show you profit and loss accout and Then we disscuss balance sheet
Expenses Income
gernal expense Gross profit
carriage outward discount receive
office expense commission receive
stationary
plaints
plant and michenry
deprication
repair
furniture
fan purchase
computer purchase
rent
office rent
cleaning charges
bank charges
commision NEt profit
discount
This is and example of profit and loss acount
Now we will discuss Balance sheet
ASSets Libilites
plant and michanry Bill payable
cash net profit
cash in hand Purchases return
cash at bank
bill reciveable
petty cash
building
clossing stock
balance Will came same balance will came same..
Monday, July 14, 2008
accounting+notes+answer questions
free accounting notes accounting best notes in pakistan.
accounting accounting best ofxford notes
introduction:
best accounting notes realease in 2008 All Questions taken by MA GHANI and Sohail afzal and Imran bhatti book.
These question Mostly came in final examination
These question and answer sheet prepared by Pakistan Bord of Education Best award teachers and examination checkers
Note: Lahore Bord Register Accounting Notes
these accounting question answer make for all Candidates of I com B com M com BBA and all students who are reader of accounting
Q:1 what is book-keeping ?
Ans: book-keeping is the art of recording monetary transactions in the book of account in a proper manner.
Q:2Define term transactions:
ans: any dealing between two persons or things is a transations.
Q:3define the term business?
ans:any activity undertaken for the purpose of earning profit is called business.
Q:4what is the proprietors:
ans: propritor is the owner of business he invests his capitals, gives his time and attention to his business.
Q:5 explain the term drawings?
ans: the -cash or goods taken from business for his personal use are called his drawings.
Q:6 what is purchases?
ans: in accounting language the word "purchases" hs a speical meaning when saleable good are bought in a business,it is said that "purchases" have been made.
Q:7 what is sale?
ans: when the goods are sold to customer at a specific price.
Q:8 what is trade discount?
ans: it is a rebate or a allowance from granted by the seller to the buyer.
Q:9 what is meant by "commision.?
ans: it is a form of remuneration for services rendered by one person to another.
Q:10 what is meant by "expenditure"
ans:an expenditure takes place when assets or services is a acquired.
Q:11 define the term "expense"?
ans: it mean on expenditure whose benefit is finished or enjoyed immediately such salaries rent etc...
Q:12 explain the term accounts?
ans : a summarized record of transaction relating to a person or things is called account.
Q:13 define the term "debtor"?
ans: a person who owns money to another is a debtor?
Q:14 define the term creaditor?
ans: a person who payout something or to whom money is owning is called creditors.
Q:15 what is acccounting?
ans: the act of collecting processing ,reporting analyzng, interpreting and projecting financial information is called accounting.
Q:16 define the term assets?
ans: the properties and possessions of a business both tangible and intangible are called assets.
Q:17 what is liabilities?
ans: liabilities are the debts due by a business to its propritor and others.
Q:18 define the term merchandise:?
ans: it includes all merchandise commodities which are purchased by the business for selling.
Q:19 define the term "inventor"?
ans: goods or merchandise on hands that is good remaining unsold , is called stock stock -in-trades or inventory.
Q:20 what is Equity?
ans: a claim which can be enforced against the assets of the firm is called equity.
Q:21 name three branches of accounting?
ans: accounting has three main forms of branches , viz financial accounting ,cost accounting and management accounting.
Q:22 which systems accounting based ?name them.
ans: 1 cash system of accounting 2 accrual system of ccounting.
Q:23 Difference between the book-keeping and accounting ?
ans: book-keeping is art of recording of business data in the prescribed manner while the accountingis primarily concerned with the design of the system of record ,the preparation of reports and interpretation of reports.
Q:24 what is meant by term" concept of accounting?
ans: the term concept includes those basic assumptions upone which accounting is based.
Q:25 what is dual aspect concepts?
ans: dual aspect concept mayy be started as "for every debit, there is a credit.
Q:26 what is money measurement concept?
ans: according to this concept , accounting records only those transactions which can be expresssed in terms of money.
Q: 27 what is going concern concept?
ans: according to this concept, it is assumed that the business will exist for a long time to come.
Q:28 state the fomula of accounting equation?
ans: The formula ,known as the accounting equcation is as follows:
Assets = liabilities+proprietorship
Q:29 define the term assits?
ans: the properties owned by a business are called equities
Q:30 define the term income?
ans: income is simple the amount by which "revenue"for a particular period of time exceed the expense"incurred to generate them.
introduction:
best accounting notes realease in 2008 All Questions taken by MA GHANI and Sohail afzal and Imran bhatti book.
These question Mostly came in final examination
These question and answer sheet prepared by Pakistan Bord of Education Best award teachers and examination checkers
Note: Lahore Bord Register Accounting Notes
these accounting question answer make for all Candidates of I com B com M com BBA and all students who are reader of accounting
Q:1 what is book-keeping ?
Ans: book-keeping is the art of recording monetary transactions in the book of account in a proper manner.
Q:2Define term transactions:
ans: any dealing between two persons or things is a transations.
Q:3define the term business?
ans:any activity undertaken for the purpose of earning profit is called business.
Q:4what is the proprietors:
ans: propritor is the owner of business he invests his capitals, gives his time and attention to his business.
Q:5 explain the term drawings?
ans: the -cash or goods taken from business for his personal use are called his drawings.
Q:6 what is purchases?
ans: in accounting language the word "purchases" hs a speical meaning when saleable good are bought in a business,it is said that "purchases" have been made.
Q:7 what is sale?
ans: when the goods are sold to customer at a specific price.
Q:8 what is trade discount?
ans: it is a rebate or a allowance from granted by the seller to the buyer.
Q:9 what is meant by "commision.?
ans: it is a form of remuneration for services rendered by one person to another.
Q:10 what is meant by "expenditure"
ans:an expenditure takes place when assets or services is a acquired.
Q:11 define the term "expense"?
ans: it mean on expenditure whose benefit is finished or enjoyed immediately such salaries rent etc...
Q:12 explain the term accounts?
ans : a summarized record of transaction relating to a person or things is called account.
Q:13 define the term "debtor"?
ans: a person who owns money to another is a debtor?
Q:14 define the term creaditor?
ans: a person who payout something or to whom money is owning is called creditors.
Q:15 what is acccounting?
ans: the act of collecting processing ,reporting analyzng, interpreting and projecting financial information is called accounting.
Q:16 define the term assets?
ans: the properties and possessions of a business both tangible and intangible are called assets.
Q:17 what is liabilities?
ans: liabilities are the debts due by a business to its propritor and others.
Q:18 define the term merchandise:?
ans: it includes all merchandise commodities which are purchased by the business for selling.
Q:19 define the term "inventor"?
ans: goods or merchandise on hands that is good remaining unsold , is called stock stock -in-trades or inventory.
Q:20 what is Equity?
ans: a claim which can be enforced against the assets of the firm is called equity.
Q:21 name three branches of accounting?
ans: accounting has three main forms of branches , viz financial accounting ,cost accounting and management accounting.
Q:22 which systems accounting based ?name them.
ans: 1 cash system of accounting 2 accrual system of ccounting.
Q:23 Difference between the book-keeping and accounting ?
ans: book-keeping is art of recording of business data in the prescribed manner while the accountingis primarily concerned with the design of the system of record ,the preparation of reports and interpretation of reports.
Q:24 what is meant by term" concept of accounting?
ans: the term concept includes those basic assumptions upone which accounting is based.
Q:25 what is dual aspect concepts?
ans: dual aspect concept mayy be started as "for every debit, there is a credit.
Q:26 what is money measurement concept?
ans: according to this concept , accounting records only those transactions which can be expresssed in terms of money.
Q: 27 what is going concern concept?
ans: according to this concept, it is assumed that the business will exist for a long time to come.
Q:28 state the fomula of accounting equation?
ans: The formula ,known as the accounting equcation is as follows:
Assets = liabilities+proprietorship
Q:29 define the term assits?
ans: the properties owned by a business are called equities
Q:30 define the term income?
ans: income is simple the amount by which "revenue"for a particular period of time exceed the expense"incurred to generate them.
Saturday, June 28, 2008
MY NEIGHBOUR FRIEND
MY NEIGHBOUR FRIEND
Reference:
These lines have been taken from “MY NEIGHBOUR FRIEND”
Written by Bullah shah”
CONTEXT:
The death of a neighbour friend terrifies the poet and puts him in a state a aghast. The dead leaves this behind the mourning of the relatives. The poet says that only god is eternal and imperishable. If we love god we will never be at loss.
EXPLANATION:The poet shows the transitory nature of all worldly things everything of this world is to die one day leaving us terrified and sad. The poet, s neighbour friend dies. He is extremely shocked and grieves at his death. He knows that his friend cannot stay in the world any more and so he will never be able to meet him
These lines have been taken from “MY NEIGHBOUR FRIEND”
Written by Bullah shah”
CONTEXT:
The death of a neighbour friend terrifies the poet and puts him in a state a aghast. The dead leaves this behind the mourning of the relatives. The poet says that only god is eternal and imperishable. If we love god we will never be at loss.
EXPLANATION:The poet shows the transitory nature of all worldly things everything of this world is to die one day leaving us terrified and sad. The poet, s neighbour friend dies. He is extremely shocked and grieves at his death. He knows that his friend cannot stay in the world any more and so he will never be able to meet him
A TALE OF TWO CITIES
A TALE OF TWO CITIES
Reference:
These lines have taken from “A tale of two cities” written by “an anonymous poet.”
CONTEXT:
The poet describes the pains and sufferings of the people of Japan whose lives and culture were destroyed by the atomic bombs. He condemns the country that committed the heinous .he admires the people of Japan who faced this calamity courageously and not only rebuilt their cities but also made their country the biggest economic power of the world.
EXPLANATION:
AMERICA ATTACKED JAPAN DURING THE Second World War. Its destroy two cities by dropping atom bombs on them. The people were scared everywhere there were cries and smoke and horrible sound of weapons and the exercise of military men. The people were made weak and helpless by the sudden calamity.
These lines have taken from “A tale of two cities” written by “an anonymous poet.”
CONTEXT:
The poet describes the pains and sufferings of the people of Japan whose lives and culture were destroyed by the atomic bombs. He condemns the country that committed the heinous .he admires the people of Japan who faced this calamity courageously and not only rebuilt their cities but also made their country the biggest economic power of the world.
EXPLANATION:
AMERICA ATTACKED JAPAN DURING THE Second World War. Its destroy two cities by dropping atom bombs on them. The people were scared everywhere there were cries and smoke and horrible sound of weapons and the exercise of military men. The people were made weak and helpless by the sudden calamity.
LEISURE
LEISURE
Reference: These lines have been taken from “Leisure” Written by “William Davies”
CONTEXT:
They poet says that we remain busy in accumulating and squandering money day in and day out. we do not have enough time to enjoy the natural beauty that spreads all around us .nor do we have time to look at the smiling face of a beautiful woman. The poet says that life is useless and worthless if it is full of worldly problems and is devoid of natural and human beauty.
Explanation:
The poet begins with a question. The answer to this question is hidden in the question itself. The poet says that our life is useless if it full of worries. We spend all our time and energy in solving our worldly problems. we do not have any time to watch and enjoy the natural and human beauty that is present around us. we spend our life in a hurried manner.
CONTEXT:
They poet says that we remain busy in accumulating and squandering money day in and day out. we do not have enough time to enjoy the natural beauty that spreads all around us .nor do we have time to look at the smiling face of a beautiful woman. The poet says that life is useless and worthless if it is full of worldly problems and is devoid of natural and human beauty.
Explanation:
The poet begins with a question. The answer to this question is hidden in the question itself. The poet says that our life is useless if it full of worries. We spend all our time and energy in solving our worldly problems. we do not have any time to watch and enjoy the natural and human beauty that is present around us. we spend our life in a hurried manner.
THE HOLLOW MEN
THE HOLLOW MEN
REFERENCE:
These lines have taken from “THE HOLLOW MEN” written by T.S.Eliot”
CONTEXT:
The poet says that human beings have become soulless. They are just stuffed with greediness and selfishness. Although they have to depend upon insignificant as the running of rats or the rustling of grass. They do have shapes but inside there is nothing except shallowness and meanness.
EXPLANATION:
t.s Eliot laments the vanishing past glory of man and his hollowness and soullessness in the modern time. He says that we, the people of this modern, mechanical age are inwardly hollow. But at the same time he calls us stuffed men. Hollow and stuffed are two opposite rather contradictory words. One shows emptiness while the other lays emphasis on the fullness. What the poet wants to convey to us through these two contradictory words is that matter or materialism has stuffed our souls with greediness and selfishness.
These lines have taken from “THE HOLLOW MEN” written by T.S.Eliot”
CONTEXT:
The poet says that human beings have become soulless. They are just stuffed with greediness and selfishness. Although they have to depend upon insignificant as the running of rats or the rustling of grass. They do have shapes but inside there is nothing except shallowness and meanness.
EXPLANATION:
t.s Eliot laments the vanishing past glory of man and his hollowness and soullessness in the modern time. He says that we, the people of this modern, mechanical age are inwardly hollow. But at the same time he calls us stuffed men. Hollow and stuffed are two opposite rather contradictory words. One shows emptiness while the other lays emphasis on the fullness. What the poet wants to convey to us through these two contradictory words is that matter or materialism has stuffed our souls with greediness and selfishness.
The FEED
The FEED
Reference:
These lines have taken from “THE FEED” written by Ahmed nadim qasmi.
CONTEXT:
The mother sparrow brings a grain of millet to feed her young ones. The new born are in the nest. They are ten in numbers. She wonders how she should break that small gain into pieces to feed all of her ten children. The poet asks man that he can split a small grain of food to feed lacks of hungry people.
EXPLANATION:
Apparently this poem is very simple but when we read between the lines we find it conveying a very thought-provoking idea. A mother sparrow comes with a grain of millet in her beak to feed her ten children. Seeing the mothers they all gather around her and open their beak that grain into pieces and feed all her children to give them satisfaction.
The poet keenly observes the movement and gestures of the mother sparrow and her children. He conveys his observe in simple and vivid language and recreates before our eyes.
The FEED
The FEED
Reference:
These lines have taken from “THE FEED” written by Ahmed nadim qasmi.
CONTEXT:
The mother sparrow brings a grain of millet to feed her young ones. The new born are in the nest. They are ten in numbers. She wonders how she should break that small gain into pieces to feed all of her ten children. The poet asks man that he can split a small grain of food to feed lacks of hungry people.
EXPLANATION:
Apparently this poem is very simple but when we read between the lines we find it conveying a very thought-provoking idea. A mother sparrow comes with a grain of millet in her beak to feed her ten children. Seeing the mothers they all gather around her and open their beak that grain into pieces and feed all her children to give them satisfaction.
The poet keenly observes the movement and gestures of the mother sparrow and her children. He conveys his observe in simple and vivid language and recreates before our eyes.
Friday, June 27, 2008
Ozymandias
Ozymandias
Reference:
These lines have been taken from “OZYMANDIAS” written by P.B Shelly.”
CONTEXT:
This poem shows that glory and greatness, power and prestige all are the slaves of death. The statue of Egyptian king who claimed to be “the king of Kings” is now broken and neglected. It bears witness to the futile attempt of man to keep alive the memory of his greatness in the form of statues. He forgets that the hammers of the builders are always succeeded by the hammers of decay and destruct.
Explanation:
This poem shows that glory and greatness, power and prestige all are the slaves of death. Once the poet met travelers who were returning from the ancient’s land of Egypt. The traveler told the poet of a broken statue that he had seen in a desert. The statue was of an old Egyptian king, ozymandias. It was now in a dilapidated condition. Only the big and trunkless legs of the statue were standing. The head was broken and was lying near half sunken in sand.
These lines have been taken from “OZYMANDIAS” written by P.B Shelly.”
CONTEXT:
This poem shows that glory and greatness, power and prestige all are the slaves of death. The statue of Egyptian king who claimed to be “the king of Kings” is now broken and neglected. It bears witness to the futile attempt of man to keep alive the memory of his greatness in the form of statues. He forgets that the hammers of the builders are always succeeded by the hammers of decay and destruct.
Explanation:
This poem shows that glory and greatness, power and prestige all are the slaves of death. Once the poet met travelers who were returning from the ancient’s land of Egypt. The traveler told the poet of a broken statue that he had seen in a desert. The statue was of an old Egyptian king, ozymandias. It was now in a dilapidated condition. Only the big and trunkless legs of the statue were standing. The head was broken and was lying near half sunken in sand.
Sindhi women
Sindhi women
Reference:
These lines have taken from the poem “sindhi women” written by “Jon stall worthy”
CONTEXT:
This poem is about Sindhi women. The poet commends the working woman who has practically turned her work into art. She is bare-footed and has a heavy stone jar on her head. But she walks softly with the delicacy ,grace and rhythm of a dancer’s feet. The poet also shows us a realistic picture of the slum of Karachi.
EXPLANATION:
THE PEOT LOOKS AT A SINDHI WOMAN WHO IS GOING THROUGH A BAZZAR. She is bare-footed and is carrying a stone jar on her head. The wind pushes her cloth from –footed and is carrying a stone jar on her head. The wind pushes her cloth from her face. She is straight and is walking smoothly as the wave of a stream. No hurdles in her way make her stop are stoop. She does not even stagger.
These lines have taken from the poem “sindhi women” written by “Jon stall worthy”
CONTEXT:
This poem is about Sindhi women. The poet commends the working woman who has practically turned her work into art. She is bare-footed and has a heavy stone jar on her head. But she walks softly with the delicacy ,grace and rhythm of a dancer’s feet. The poet also shows us a realistic picture of the slum of Karachi.
EXPLANATION:
THE PEOT LOOKS AT A SINDHI WOMAN WHO IS GOING THROUGH A BAZZAR. She is bare-footed and is carrying a stone jar on her head. The wind pushes her cloth from –footed and is carrying a stone jar on her head. The wind pushes her cloth from her face. She is straight and is walking smoothly as the wave of a stream. No hurdles in her way make her stop are stoop. She does not even stagger.
Times
Times
Reference:
These lines have taken from “TIMES” Written by “Ecclesiastes”
CONTEXT:
The poet says that every thing in this world is scheduled according to a specific time. Nothing in nature happens out of place. we will not be happy nor will we gain any profit if we try to do something before or after its due time. This is the law of nature. The poet wants us to obey this law and never to violate it if we want to lead a peaceful and regular life.
Explanation:
In this short but beautiful poem, the poet makes us understand the basic principle of nature. The poet wants us to eBay this law and never to violate it. Nature has fixed an appropriate. Time for everything to happens. There is time when spring sets in and a time when spring goes and to happen. There is a time to sow seeds and a time when its fruit is ripe to be plucked.similerly there is a proper time to destroy or break something and a time to construct are reconstruct it. There is a time when to weep and a time to dance in happens.
These lines have taken from “TIMES” Written by “Ecclesiastes”
CONTEXT:
The poet says that every thing in this world is scheduled according to a specific time. Nothing in nature happens out of place. we will not be happy nor will we gain any profit if we try to do something before or after its due time. This is the law of nature. The poet wants us to obey this law and never to violate it if we want to lead a peaceful and regular life.
Explanation:
In this short but beautiful poem, the poet makes us understand the basic principle of nature. The poet wants us to eBay this law and never to violate it. Nature has fixed an appropriate. Time for everything to happens. There is time when spring sets in and a time when spring goes and to happen. There is a time to sow seeds and a time when its fruit is ripe to be plucked.similerly there is a proper time to destroy or break something and a time to construct are reconstruct it. There is a time when to weep and a time to dance in happens.
In the street of the fruit stalls
In the street of the fruit stalls
Reference:
These lines have been taken from “In the street of the fruit stalls” written by “Jan stallworhy”
CONTEXT:
It is a symbolic poem. The world Is full of miseries. But man’s innate desire for peace and pleasure is still alive in the heart. The poet is standing in the dark street stands for this world darkened with evil. Disease and poverty. But in the fruit street children are unwary. They enjoy the fruit even in the dim light of the lantern .lantern represent hope. Man, in spite of all his predicaments.
Explanation:
It is evening time. Darkness is spreading all around. Dew drops are falling on the ground. They look darkness... The wicks of the lanterns burn steadily. In the fruit street, the fruit stalls are laden with melon, guava and oranges. The shopkeeper has piled them up in a conical shape. They look like cannon balls. In the dim lantern light they reflect red and golden colors.
These lines have been taken from “In the street of the fruit stalls” written by “Jan stallworhy”
CONTEXT:
It is a symbolic poem. The world Is full of miseries. But man’s innate desire for peace and pleasure is still alive in the heart. The poet is standing in the dark street stands for this world darkened with evil. Disease and poverty. But in the fruit street children are unwary. They enjoy the fruit even in the dim light of the lantern .lantern represent hope. Man, in spite of all his predicaments.
Explanation:
It is evening time. Darkness is spreading all around. Dew drops are falling on the ground. They look darkness... The wicks of the lanterns burn steadily. In the fruit street, the fruit stalls are laden with melon, guava and oranges. The shopkeeper has piled them up in a conical shape. They look like cannon balls. In the dim lantern light they reflect red and golden colors.
Thursday, June 26, 2008
OH Where are you going
OH Where are you going
Reference:
These lines have been taken from “O where are you going” written by “some anonymous poet”
CONTEXT:
It is a dialogue between two imaginary persons :Reader and rider. The rider is a person who is bold courageous and Is ambitious to make his way through thick and thin. The reader is full of fear and awe. When he sees that the rider is undaunted he changes his face. He tries his best to prevent the traveler from going to his goal. But the rider does not lose heart. He answers the opposing forces in a harsh and determined voice and sets out again.
Explanation:
The reader asks to rider where he is going, There he is going. There seems to be a hidden warning in his question. He tells the rider that the valley he in tends to go to is full of dangers. When furnaces burn in that valley it becomes more harmful. Heaps of dung and rubbish lie on his journey ahead. The bad smell of which will sicken and madden his mind. He further frightens him by saying that all those who claimed to be brave and determined could not reach their goal. They could not face the hardship of the journey and ultimately died on the way. The same valley became their grave.
These lines have been taken from “O where are you going” written by “some anonymous poet”
CONTEXT:
It is a dialogue between two imaginary persons :Reader and rider. The rider is a person who is bold courageous and Is ambitious to make his way through thick and thin. The reader is full of fear and awe. When he sees that the rider is undaunted he changes his face. He tries his best to prevent the traveler from going to his goal. But the rider does not lose heart. He answers the opposing forces in a harsh and determined voice and sets out again.
Explanation:
The reader asks to rider where he is going, There he is going. There seems to be a hidden warning in his question. He tells the rider that the valley he in tends to go to is full of dangers. When furnaces burn in that valley it becomes more harmful. Heaps of dung and rubbish lie on his journey ahead. The bad smell of which will sicken and madden his mind. He further frightens him by saying that all those who claimed to be brave and determined could not reach their goal. They could not face the hardship of the journey and ultimately died on the way. The same valley became their grave.
Loveliest of trees, the cherry now
Loveliest of trees, the cherry now
Reference:
These lines have been taken from “loveliest if trees the cherry now”wriiten by A.E.housman”
CONTEXT:
The poet is attracted by the beauty of the cherry tree. He wants to enjoy it to the full. But the regrets that the early twenty years of hid life that he has already spent in this world would never come back. He can live hardly for fifty years are too short a period to enjoy the beauty of this loveliest tree. So he decided not waste even a single moment of his life. He will visit the woodland as many times as he can and enjoy its beauty.
Explanation:
The Poet sees a cherry tree growing on theBank of the path of a woodland. He is much impressed by its beauty and calls it the loveliest of the trees. The branches of the tree are laden with flowers and are covered with snow. It seems as if it has worn this white dress to celebrate the Christian festival of Easter –the day when Christ was resurrected
These lines have been taken from “loveliest if trees the cherry now”wriiten by A.E.housman”
CONTEXT:
The poet is attracted by the beauty of the cherry tree. He wants to enjoy it to the full. But the regrets that the early twenty years of hid life that he has already spent in this world would never come back. He can live hardly for fifty years are too short a period to enjoy the beauty of this loveliest tree. So he decided not waste even a single moment of his life. He will visit the woodland as many times as he can and enjoy its beauty.
Explanation:
The Poet sees a cherry tree growing on theBank of the path of a woodland. He is much impressed by its beauty and calls it the loveliest of the trees. The branches of the tree are laden with flowers and are covered with snow. It seems as if it has worn this white dress to celebrate the Christian festival of Easter –the day when Christ was resurrected
Wednesday, June 25, 2008
THE RAIN
THE RAIN
Reference:
These lines have been taken from "The Rain" Written by "W.H.Davies"
Context:
This short Poem is a Musical Display of Rain and the life of a poor man.The poor homeless man suffers from cold ,wet weather but he feels pleasure to hear the music created by the falling of rain on the green leaves of the tree.
Explanation:
The poet says that he hears the leaves drinking the rain drops.The leaves are rich becuse they are fill of rain water.The falling of rain on the leaves drop creates a music.The music is sweet to hear .but these drops also fall on the poor man who is sitting under the tree.This poor man is the poet himself.He hears the sweet noise of the green leaves drinking near .His is condition pathetic as he is poor and homeless.but instead of weeping over his poverty he,like a true optimist ,enjoys himself with the pleasure that comes in the shape of rain for a few miments in his life.
These lines have been taken from "The Rain" Written by "W.H.Davies"
Context:
This short Poem is a Musical Display of Rain and the life of a poor man.The poor homeless man suffers from cold ,wet weather but he feels pleasure to hear the music created by the falling of rain on the green leaves of the tree.
Explanation:
The poet says that he hears the leaves drinking the rain drops.The leaves are rich becuse they are fill of rain water.The falling of rain on the leaves drop creates a music.The music is sweet to hear .but these drops also fall on the poor man who is sitting under the tree.This poor man is the poet himself.He hears the sweet noise of the green leaves drinking near .His is condition pathetic as he is poor and homeless.but instead of weeping over his poverty he,like a true optimist ,enjoys himself with the pleasure that comes in the shape of rain for a few miments in his life.
Night mail
Night mail
Reference:
These lines have been taken from "NIGHT MAIL" written by "W.H.Auden"
Context:
This is about the mail train that Travels all night to bring mail to the people livilng at different reaches its destination on time.While it travels birds stare at it from their nests.But people in the farms the sheep-dogs keep on sleeping .only the jug in the bed room slowely shakes.
Explanation:
The night mail is apparently and ordinary train.but it acquires importence becuse of its duty and punctuality.it travels all night to bring all sorts of people their letters cheques and postal orders.Both the rich and the poor are people their letters servies.The shop keeper at the corner of the market and the girl next door who is perhaps waiting for the letter of her lover anxiously wait for the train.
The poet has treated the train as a dutiful ,punctual couragoues and hardworking human being.
These lines have been taken from "NIGHT MAIL" written by "W.H.Auden"
Context:
This is about the mail train that Travels all night to bring mail to the people livilng at different reaches its destination on time.While it travels birds stare at it from their nests.But people in the farms the sheep-dogs keep on sleeping .only the jug in the bed room slowely shakes.
Explanation:
The night mail is apparently and ordinary train.but it acquires importence becuse of its duty and punctuality.it travels all night to bring all sorts of people their letters cheques and postal orders.Both the rich and the poor are people their letters servies.The shop keeper at the corner of the market and the girl next door who is perhaps waiting for the letter of her lover anxiously wait for the train.
The poet has treated the train as a dutiful ,punctual couragoues and hardworking human being.
TRY TRY AGAIN
TRY TRY AGAIN
once a crow was very thirsty.He flew from place to place in search of water,but all in vain.he could not find even a drop to drink .he did not lose heart .after some time ,he saw a pitcher .he looked into it.it was half full of water.his beak could not reach it.he hit upon a plan.he flew to a nearby hill and brought some pebbles.these hre dropped into the pitcher.Ther water rose up to the brim.now he could easily quench his thirst.he drank the water and flew away.
MORAL:TRY TRY AGAIN UNTIL YOU SUCCEED
MORAL:NECESSITY is the mother of invention
Moral: Where there is will,there is a way
MORAL:TRY TRY AGAIN UNTIL YOU SUCCEED
MORAL:NECESSITY is the mother of invention
Moral: Where there is will,there is a way
A friend in need is a friend indeed
A friend in need is a friend indeed
once two friends set out on a journey.They promiss to stand by each through thick and thin .one day,they passed through jungle.They saw a big bear coming towards them.one of them was very selfish.he left his friend in the lurch and climbed up a tree.The others friend could not climb.He had heard that the bear did not eat the dead bodies.so he lay down on the ground and held his breath.The bear came near and smelt him.Then taking him a dead.he went away.The selfish friend came down and asked his friend by way of joke.Dear ,what did the bear say in your ear.?The other friend replied ,The bear advised me not to trust a selfish friend.:saying this he said good bye to his selfish friend went away alone.
Moral: A friend in need is a friend indeed.
Moral: A friend in need is a friend indeed.
Honesty is best policy
Honesty is best policy
Once a poor woodcutter was felling a tree near the bank of a river.By chance,his axe fell into river.He did not know how to swim.He began to weep over his loss.suddenly an angel Came there.The woodcutter told him his sad story.The angel consoled him.Then he dived into the river and brought out a golden axe.The woodcutter refused to accept it becuse it was not his axe.The angel dived again into the river and brought out a silver axe .but the woodcutter refused again to accept it.Too becuse it was also not his axe.upon this the angel dived for the third time and brought out an iron axe.The woodcutter cried with joy.He at once accepted it becuse it was his axe.The angel was much impressed by the honesty of the poor woodcutter.He gave him the other two axes also as a reward for his honesty
MORAL: Honesty is the best policy
DO GOOD, HAVE GOOD THE STORY OF ENGLISH B
Do good and have good
once a rich man had a slave.he made him work day and night but gave him only a littlr food to eat.The slave did not like such a miserable life.one day,he left the house and went into a jungle.There he saw a lion.There was a thorn in his paw.he was crying with pain.The slave took pity on himand pulled out the thorn.The loin gratefully licked his hands and went away.after some time the slave was arrested and was thrown before a hungry loin as his punishment.but the people were surprisd to see that the lion instead of killing him began to lick his hands lovingly.It was the same lion whome the slave had helped in the jungle.
Moral:1 Do good, have good
Moral2 : kindness never goes unrewarded
3 # : one good turn deserves another
4# : virtue is its own reward
TREND ENGLISH B slow and steady wins the race. STORY
SLOW and steady wins the race.
Once a hare and a tortoise lived in a jungle.THe hare was very proud of fast speed.he often made fun of the slow moving tortoise.one day ,he challenge the tortoise to run a race.The tortoise agreed.They fixed a distance hill as their destination and started the race.The hare ran as fast as he could and soon out of sight.After some time,he thought of taking some rest .so he lay down under the shade of a tree and fell asleep.The tortoise on the other hand .walked on slowely but steadily .when the hare woke up the sun was about to set.he thought that the tortoise must be far behind.he ran fast and reached the destination.but he was much ashamed to see the tortoise already present there.
MORAL :SLOW AND STEADY WINS THE RACE.
2 : PRIDE HATH A FALL
3 : NEVER MAKE FUN OF OTHERS.
ENGLISH B GREED IS A CURSE STORY
GREED IS A CURSE
once a dog very hungry.by chance, he got a piece of meat.he took it in his mouth and ran out of village.on the way,there was a stream with a narrow bridge over it.when he was crossing the bridge,he saw his own reflection in the water of the stream.he took it for another dog with a bigger piece of meat.he decided to snath that piece of meat from the other dog.so he barked at the dog and jumbed into the stream .as soon as he did so,his own piece of meat fell from his mouth and disappearred in the steam.The poor dog had to go home hungry.
MORAL:1 GREED IS A CURSE.
MORAL:2 ALL COVET , ALL LOSE.
#3 Some is better then nothing.
#4 A bird in hand is better thren two in the bush.
ENGLISH B GREED IS A CURSE STORY
GREED IS A CURSE
once a dog very hungry.by chance, he got a piece of meat.he took it in his mouth and ran out of village.on the way,there was a stream with a narrow bridge over it.when he was crossing the bridge,he saw his own reflection in the water of the stream.he took it for another dog with a bigger piece of meat.he decided to snath that piece of meat from the other dog.so he barked at the dog and jumbed into the stream .as soon as he did so,his own piece of meat fell from his mouth and disappearred in the steam.The poor dog had to go home hungry.
MORAL:1 GREED IS A CURSE.
MORAL:2 ALL COVET , ALL LOSE.
#3 Some is better then nothing.
#4 A bird in hand is better thren two in the bush.
once a dog very hungry.by chance, he got a piece of meat.he took it in his mouth and ran out of village.on the way,there was a stream with a narrow bridge over it.when he was crossing the bridge,he saw his own reflection in the water of the stream.he took it for another dog with a bigger piece of meat.he decided to snath that piece of meat from the other dog.so he barked at the dog and jumbed into the stream .as soon as he did so,his own piece of meat fell from his mouth and disappearred in the steam.The poor dog had to go home hungry.
MORAL:1 GREED IS A CURSE.
MORAL:2 ALL COVET , ALL LOSE.
#3 Some is better then nothing.
#4 A bird in hand is better thren two in the bush.
ENGLISH B TREND STORY ALL THAT GILTTERS IS NOT GOLD
ALL THAT GILTTERS IS NOT GOLD
Once a stag saw his reflection in stream.he liked his beautiful and strong horns but hated his thin and ugly legs.once day, the hounds of a hunter attacked him.his ugly legs helped him in runing fast.but infortunately his horns got cought in the bushes.he struggled hard to realse himself butt all in vain.soon the hounds reached there.they fell upon him and tore him into pieces.
MORAL:1 ALL GLITTERS IS NOT GOLD
2 APPEARANCE IS ALWAYS DECEPTIVE
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