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Unit II: Recording, Handling and Summarizing the Accounting Information | BCA 2nd Semester Financial Accounting I Notes Pdf

A paper trail is created when a company conducts a financial transaction. A "Source Document" refers to this paper trail. A bookkeeper or accountant may request that we supply a source document so that they can check data and properly record transactions. The date, the money, the purpose, and all parties engaged in the transaction should all be described in a decent source document.

Recording, Handling and Summarizing the Accounting Information – Financial Accounting I

In this “Recording, Handling and Summarizing the Accounting Information – Financial Accounting I” you will learn about the following topics:

  1. Source Document
  2. Role of Source Documents in Accounting
  3. Examples of Source Documents
  4. Cash Memo, Invoice or Credit Bill, Receipts, Deposit Slip, Cheque, Debit Note, Credit Note, Bank Statement
  5. Transactions and Events
  6. Recording of Transactions and Events
  7. Journal Entries, Receipt of Supplier Invoices, Issuance of Supplier Invoice, Issuance of Supplier Payments, Issuance of Paychecks
  8. Difference between Event and Transaction
  9. Accounting Equation
  10. Examples of the Accounting Equation
  11. Single-Entry Bookkeeping
  12. How Does The Single-Entry System Work? 
  13. Double-Entry Bookkeeping
  14. How Does The Double-Entry System Work?
  15. What Documents Are Used To Record Entries?
  16. How Is Double-Entry Bookkeeping Better Than Single-Entry?
  17. Analysis of Transaction
  18. Rules of Debit and Credit
  19. Asset Accounts, Expense Accounts, Liability Accounts, Revenue/Income Accounts, Capital/Equity Accounts, Contra Accounts
  20. Accounting Methods
  21. Cash Method of Accounting (Cash Basis of Accounting), Accrual Basis of Accounting (Mercantile Basis of Accounting), Hybrid or Mixed Basis of Accounting
  22. Journal Entries in Accounting
  23. How to Approach Journal Entries?
  24. Journal Entry Examples
  25. Voucher in Accounting
  26. How Vouchers Work?
  27. Importance of Vouchers, Example of Vouchers
  28. What is a T Account?
  29. Example of a T Account, How T Accounts Are Used?
  30. What is a Trial Balance?
  31. Rules to Prepare the Trial Balance, Steps to Prepare Trial Balance, Specimen of Trial balance, Example of Trial Balance
  32. What is an Annual Report?
  33. Who Uses Annual Reports?
  34. Shareholders and Potential Investors, Employees, Customers



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BCA 2nd Semester Financial Accounting I Notes Pdf:

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