Channel: Grooming Education Academy

Category: Education

Tags: final accounts class 11final accounts class 12final accounts cma foundationfinal accounts auditorfinal accounts afbgrooming education academyfinal accounts with adjustments class 11final accounts jaiibfinal accounts accounts auditorfinal accounts bank pofinal accounts ca foundationchandan poddarbank final accountsfinal accounts accountancyfinal accounts class 11 iscfinal accounts of companiesfinal accounts cs foundation

Description: In This Video We Will Discuss Final Accounts All Concepts, Problems and Examples for Class 11, Class 12, B.com, BBA CA CS and CMA has been discussed by Chandan Poddar Sir For CA Foundation Grooming Education. This Video is Helpful for CA Foundation, CS Foundation, CMA Foundation, B.com, B.com(Hons), BBA, MBA and JAIIB, AFB, BBI, BAF, BFM, BMS and Other Commerce Courses ⬤ 𝐂𝐀 𝐅𝐨𝐮𝐧𝐝𝐚𝐭𝐢𝐨𝐧 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐬 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐂𝐨𝐮𝐫𝐬𝐞:- escholars.in/s/store/courses/description/ca-foundation-Accounts ⬤ 𝐁.𝐜𝐨𝐦/𝐁𝐁𝐀 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐬 escholars.in/s/store/courses/description/Bcom-Financial-Accounts-Copy ⬤ 𝐂𝐥𝐚𝐬𝐬 𝟏𝟐 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐬 𝐂𝐨𝐮𝐫𝐬𝐞 escholars.in/s/store/courses/description/Accountancy--Class-12-Copy ⬤ 𝐂𝐥𝐚𝐬𝐬 𝟏𝟏 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐬 𝐂𝐨𝐮𝐫𝐬𝐞 escholars.in/s/store/courses/description/Class-11-Accounts ⬤ 𝐂𝐌𝐀 𝐅𝐨𝐮𝐧𝐝𝐚𝐭𝐢𝐨𝐧 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐬 𝐂𝐨𝐮𝐫𝐬𝐞 escholars.in/s/store/courses/description/Fundamentals-of-Accounting Watch Next:- ◍ Consignment Accounting Chapter in Single Video:- youtu.be/AByER6G9FeM ◍ Issue of Share Complete Chapter in Single Video youtu.be/06PfhfPWBDk ◍ Rectification of Errors Complete Chapter in Single Video youtu.be/l247jJ4Mzuc ◍ Fundamental of Partnership Complete Chapter in Single Video youtu.be/mSoSB82zs34 ◍ Overhead Costing Complete Chapter in Single Video youtu.be/oaXYMEQHFBU Topics Covered:- Introduction Computation of gross profit and net profit Trading and profit and loss account with balance sheet Adjustments related to outstanding, prepaid expenses and incomes Adjustments related to abnormal, bad debts and goods used for charity or personal purpose Adjustments related to goods sold on an approval basis Adjustments related to mutual debtors and creditors, closing stock, 00:00 Introduction. 01:15 Meaning of final accounts. 02:14 Trading & Profit & loss account. 05:58 Expenses. 24:14 How to compute gross profit. 34:54 How to withdraw gross profit from the trading account. 40:45 What is profit. 01:00:35 Summary of formulas. 01:05:32 Practice questions. 01:19:01 Marshalling of assets & liabilities. 01:21:51 Adjustments. 01:36:26 Outstanding expanses. 01:39:04 Prepaid expanses. 01:41:46 Outstanding incomes. 01:44:59 Prepaid income. 01:52:30 Abnormal loss. 01:58:07 Related to bad debts. 02:15:00 Goods used for any thing. 02:19:50 Goods sent on approval basis. 02:35:57 Mutual debtors & creditors. 02:42:50 If closing stock given in balance sheet. 02:56:13 Error based adjustments. Queries Solved: Final Accounts Class 11, Final Accounts Class 12, Final Accounts CA Foundation, Final Accounts CS Foundation, Final Accounts CMA Foundation, Final Accounts JAIIB, Final Accounts AFB, Final Accounts Bank PO, Bank Final Accounts, Final Accounts Auditor, Final Accounts Accounts Auditor, Final Accounts Accountancy, Final accounts are the end results of the whole accounting process. (1) Trading & Profit & Loss Account and (2) Balance Sheet. In case of manufacturing concerns the final a/c’s may include the following statements. (1) Manufacturing A/c., (2) Trading, Profit & Loss A/c., (3) Balance Sheet. Trading and Profit & Loss A/c shows the result of the operation (performance) that is profits earned or loss incurred during that year. Therefore all Expenses and Incomes related to that period should come in the P&L A/c, COMPONENTS OF FINAL ACCOUNT Trading account Manufacturing account: ♦ A manufacturing concern may prepare Manufacturing a/c to ascertain the cost of goods manufactured. ♦ Raw material consumed ♦ Opening WIP stock ♦ Balance is the cost of goods manufactured and is then transferred to the trading account. ♦ When manufacturing a/c is not prepared, these items will come in trading a/c. Grooming education academy is engaged in providing qualitative commerce education to society at concessional prices. We believe in Research, reasoning and result and thus our learners admit our USP of: "Pioneer in developing concepts". We provide the complete tutorials for all commerce courses including CA, CS, CMA, BCom, BBA, Mcom, MBA, M.com, Class 12, Class 11 and other commerce courses. To know about the courses and books that best suits your requirement call at our helpline number: 𝟖𝟖𝟖 𝟖𝟖𝟖 𝟎𝟒𝟎𝟐 𝐕𝐢𝐬𝐢𝐭 𝐎𝐮𝐫 𝐖𝐞𝐛𝐬𝐢𝐭𝐞 to know more about the courses available: escholars.in 𝐉𝐨𝐢𝐧 𝐨𝐮𝐫 𝐭𝐞𝐥𝐞𝐠𝐫𝐚𝐦 𝐜𝐡𝐚𝐧𝐧𝐞𝐥 𝐟𝐨𝐫 𝐝𝐚𝐢𝐥𝐲 𝐮𝐩𝐝𝐚𝐭𝐞𝐬:::: t.me/geacp 𝐅𝐚𝐜𝐞𝐛𝐨𝐨𝐤 𝐏𝐚𝐠𝐞: facebook.com/GroomingEducationAcademy 𝐈𝐧𝐬𝐭𝐚𝐠𝐫𝐚𝐦 𝐏𝐚𝐠𝐞: instagram.com/groomingeducationacademy 𝐓𝐰𝐢𝐭𝐭𝐞𝐫 𝐏𝐚𝐠𝐞: twitter.com/AcademyGrooming 𝐋𝐢𝐧𝐤𝐞𝐝𝐈𝐧 𝐏𝐚𝐠𝐞: linkedin.com/company/grooming-education-academy 𝐏𝐢𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐏𝐚𝐠𝐞: in.pinterest.com/groomingeducation #Final_Accounts #Accounts #Financialstetment #Groomingeducation