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Manual Accounting

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Manual Accounting

Manual Accounting refers to the accounting method in which physical registers for journal and ledger, vouchers and account books are used to keep a record of the financial transactions.

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  • (0 Reviews)
  • 0 students enrolled
  • 500,00₹
  • 999,00₹


CourseContent

1 sections • 12 lectures • 03h 20m total length
Chapter:-1

Accounting basics

Accounting, Accountancy, Account

Basic Principles, Basic Terms

Business Transactions

Double Entry System

Types of Accounts(Traditional Approch)

Group of Account

Accounting Rules

27:04min
Chapter:-2

Types of Accounts(Modern Approch)

Group of Account

Accounting Rules

Chapter:-3

Journal

Journal Entry, Journalizing, Narration

Example

JOURNAL ENTRIES

Banking Transactions

Trade Discount

Cash Discount

Opening Journal Entry

14:43min
Chapter:-3

Journal

Journal Entry, Journalizing, Narration

Example

JOURNAL ENTRIES

Banking Transactions

Trade Discount

Cash Discount

Opening Journal Entry

21:15min
Chapter:-4

Ledger

Posting

Example

Balancing of Ledger Accounts

Procedure of balancing an account

Example

17:39min
Chapter:-5

Trail Balance

Nature of Balance of Account

Example

Trail Balance

06:03min
Chapter:-6

Sub Division of Journal

Cash Book

Single Column Cash Book

Double Column Cash Book

Three Column Cash Book

Petty Cash Book

Analytical Petty Cash Book

12:39min
Chapter:-7

Purchase Book

Sales book

Purchase Returns book

Sales Return Book

Bills receivable book

Bills payable Book

Journal proper

13:59min
Chapter:-8

Manufacturing Accounts

Final Account

Trading Account

Profit and Loss Account

Balance sheet

15:11min
Chapter:-9

Adjustment entries

Closing Entries

15:26min
Chapter:-10

Final Accounts with adjestments

Adjustment Entries, Outstanding expences

Prepaid Income, Accrued Income, Unearned income

Depreciation, Appreciation

Bad debts, Provision for Bad debts

Provision for discount on debts

Provision for discount on Creditors

Interest on Capital,Interest on Drawing, Closing Stock

21:42min
Chapter:-11

Manual Accounting

Example

Journal Entries

Ledger posting

Ledger Balancing

Trail Balance

Trading and Profit & loss account

Adjestment Entries

Balance Sheet

18:17min
Chapter:-12

Error

  1. Clerical errors.
  2. Errors of Omission.
  3. Complete Omission
  4. Partial Omission
  5. Errors of Commission.

                III.           Compensating Errors.

  1. Error s of principle

Rectification of Errors

Errors disclosed by Trail Balance

Errors not disclosed by Trail Balance

One side errors, Two side errors

21:23min

Requirements

  • PC or Mobile

Description

Manual Accounting, as the name signifies, is the paper-based accounting system, in which journal and ledger registers, vouchers, account books are used to store, classify and analyse financial transactions of an organization. It is often used by small businessmen, such as sole proprietors, shopkeepers, etc. to maintain the record of the business transactions, due to lower cost.

One of the advantages of the manual accounting system is its easy accessibility. It is also characterised by confidentiality, which makes the sensitive information hacking free. Nevertheless, manual accounts can only be prepared correctly if the accountant possesses good knowledge of bookkeeping and accounting.

Moreover, human error, such as incorrect recording of the transaction, the omission of the transaction, figure transposition and so forth, is likely to occur while the preparation of manual accounts which cannot be ignored.

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