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Accounting  Accounting is the language of business. Because accounting is the tool through which we get information about the financial performance and financial position of the business. For a businessman, Partnership or an organization, accounting helps in managing our expenses to generate revenues. Without, proper books of accounts no businesses can succeed. Definition of Accounting “Accounting is concerned with recording, classifying, summarizing of the information and interpretation of the results of all the financial statements prepared by the business”. From the definition of Accounting, following four terms can be taken into account: ü Recording ü Classifying ü Summarizing ü Interpretation v Recording Recording phase is done through Book-Keeping. Recording means recording of transactions in the Journal Chronological (Date-wise) after verifying the transaction through an invoice. ...

Syllabus of Principles of Accounting I.COM (Part - I) All chapters are included in the syllabus of Principles of Accounting - Part 1 paper (I.COM). However, the chapter 12 (Work Sheet) is less important but important only for objective type or short questions. Download Or View  Model Papers of 11th Class Do you know?  " Accounting meaning has great importance for understanding the subject of Acc ounting ." Paper Pattern of Accounting I.COM (Part - I) First Part - Objective Type In this part, 20 marks MCQs are given to students to complete it in 30 minutes time period. Second Part - Subjective Type This part of paper of “Principles of Accounting” starts after 30 minutes of time period. This subjective type part has two further parts: Shot Questions (Include Question No. 2 And 3) Short questions are given and the students do only 10 questions out of 16 questions from question number 2 and 3. Students have to write ...