Notes Of account

Journalizing Transaction

Recording transaction:- As we know accounting is a part of recording the financial transaction, classifying and summarizing the financial transaction and interpreting the results their all.

Thus the accounting cycle involves the Followings stages:-

1.       Recording transaction:- This is done in the book termed as Journal.

2.       Classifying The Transaction:-   This is done in the book termed as Ledger.

3.       Summarizing The Transaction:-  This includes preparation of the Trial balance, profit & loss account and Balance-sheet  of the business.

4.       Interpreting The Result:- This involves the computation of various accounting ratios etc. to know about the liquidly, solvency and profitability of business.

Journal

A journal records all daily transaction of any business into the order in which

They occur. A Journal may there will defined as a book containing a chronological records of transactions.

It is a book in which the transaction are recorded first all under the double entry system. Thus journal is the book of original records.  A journal does not replace but precedes the ledger. The process of recording transaction in a journal is termed as Journalizing.

Date	Particular	L.F	Dr.	Cr.

The Terms Are:-

·         Date:-  The date on which the transaction was entered is recorded here.

·         Particular:- The Two aspects of transaction recorded in this column. The details regarding accounts which have to be debited and credited.

·         L.F (Ledger Folio):-  The transaction entered in the journal are lateral are posted to the ledger. The relevant ledger folio is entered here.

·         Debit:-  In this column the amount to be debited is entered.

·         Credit:-  In this column the amount to the credited is entered.

FOM notes

Fyol's administrative :- 

                                        Fyols at the problem of managing and organizatuon from top management point of view he use the term and administration insted of management. Fyol divided his approach of sturding managemenr in to three parts.

•  Manageral qualities and training 
• General principles of management 
• Elements of management 

             Managerail quality and training :- 
 1) physical
2) Mental
3) Moral
4) Educational
5) Techinical
6) experience
                     Significant of management :- 

• - Encourage and iniciative 
• Encourage innovation 
• Facility groth and expention 
• A life of workers 
•  Improove corporates image 
•  Motivates employees 
• Optimum use of resources 
•  Reduaces wastages 
•  Improve relations 
• Reduces labour turn over 
•  Encourage the team work 
•  Team spirite 
•  Expention of business 
•  Sound running of organization 
•  Best utilization of employeea ability 
•  Manage the oralganisation in the chipest way 

           Characterstic of management :-

• Continues proces 
•  universal process 
•  Dynamic process 
• Statistic process 
•  Science an art 
• Team work process 
•  Two way process 

Assignment:- 
                             
                              Management is an art of getting things done to others of management is utilization of staff resources in the beat and the cheapest way. This defination is more relevant to present time management and why?

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