THE ACCOUNTING PROCESS

1.0 Objectives 

1.1 Introduction 

1.2 Accounting-An Overview 

        1.2.1 Objectives of Accounting 

        1.2.2 Definition and Scope of Accounting 

        1.2.3 Book-keeping, Accounting and Accountancy 

        1.2.4 Parties Interested in Accounting Information 

        1 .2.5 Branches of Accounting 

        1.2.6 Advantages of Accounting 

        1.2.7 Limitations of Accounting 

1.3 Basic Accounting Concepts 

        1.3.1 Concepts to be Observed at the Recording Stage 

        1.3.2 Concepts to be Observed at the Reporting Stage 

1.4 Systems of Book-Keeping 

        1.4.1 Double Entry System 

        1.4.2 Single Entry System 

1.5 What is an Account? , 

1.6 Classification of Accounts 

1.7 Rules of Debit and Credit 

1.8 Accounting Process 

1.9 Let Us Sum Up 

1.10 Key Words 

1.11 Some Useful Books