This is very tricky part of Jaiib ,many aspirants find it difficult to cope with,but these simple and useful tips help you to understand basics of Accounting and help you to be an expert in accountancy.
1-Introduction to Accounting: As we go through books we find several definitions about accounting ,whats its importance etc.But while we are preparing for JAIIB so we should go through whats important in this part .So here is summary of those points which are essential from this chapter...
1-- This shows the process of Accounting ,one should not remember these steps ,just take a look ....
Input Process Output
Identifying
Recording
Business Classifying Information
transactions Summarising to
(monetary value) Analysing Users
Interpreting
Communicating
2--Accounting Cycle-- This is very important part of Accounting. An accounting cycle is a complete sequence of accounting process, that begins with the recording of business transaction and ends with the preparation of final accounts.
1-Introduction to Accounting: As we go through books we find several definitions about accounting ,whats its importance etc.But while we are preparing for JAIIB so we should go through whats important in this part .So here is summary of those points which are essential from this chapter...
1-- This shows the process of Accounting ,one should not remember these steps ,just take a look ....
Input Process Output
Identifying
Recording
Business Classifying Information
transactions Summarising to
(monetary value) Analysing Users
Interpreting
Communicating
2--Accounting Cycle-- This is very important part of Accounting. An accounting cycle is a complete sequence of accounting process, that begins with the recording of business transaction and ends with the preparation of final accounts.
