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24/05/2026

Next Station is KSA πŸ‡ΈπŸ‡¦
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24/05/2026
πŸ“˜ Complete Accounting Notes (Beginner β†’ Intermediate)πŸ“Œ What is Accounting?Accounting is the process of **recording, clas...
21/05/2026

πŸ“˜ Complete Accounting Notes (Beginner β†’ Intermediate)
πŸ“Œ What is Accounting?

Accounting is the process of **recording, classifying, summarizing, and reporting** financial transactions.

πŸ‘‰ Purpose:

* Track business performance
* Help in decision-making

πŸ“Œ Debits and Credits

* **Debit (Dr)** β†’ Left side
* **Credit (Cr)** β†’ Right side

Every transaction has:
βœ” One Debit
βœ” One Credit

πŸ“Œ Rules of Debit & Credit

πŸ”Ή Traditional Rules:

* **Assets** β†’ Debit increase, Credit decrease
* **Liabilities** β†’ Credit increase, Debit decrease
* **Equity** β†’ Credit increase, Debit decrease
* **Income** β†’ Credit increase
* **Expenses** β†’ Debit increase

πŸ“Œ Default Balance Position

* Assets β†’ Debit
* Expenses β†’ Debit
* Liabilities β†’ Credit
* Equity β†’ Credit
* Income β†’ Credit

πŸ“Œ What is an Asset?

An asset is anything **owned by a business with economic value**.

πŸ“Œ Examples of Assets

* Cash
* Bank balance
* Inventory
* Equipment
* Buildings

πŸ“Œ Types of Assets

πŸ”Ή Current Assets

Used or converted into cash within 1 year:

* Cash
* Accounts receivable
* Inventory

πŸ”Ή Non-Current Assets

Used for long-term:

* Machinery
* Buildings
* Vehicles

πŸ”Ή Intangible Assets

No physical form:

* Goodwill
* Patents
* Trademarks

πŸ“Œ What is IFRS (International Financial Reporting Standards)?

International Financial Reporting Standards
A set of global accounting rules used to ensure **consistency and transparency** in financial reporting.

πŸ“Œ What is a Liability?

A liability is a **debt or obligation** of a business.

πŸ“Œ Types of Liabilities

* **Current liabilities** β†’ Short-term (e.g., accounts payable)
* **Non-current liabilities** β†’ Long-term (e.g., loans, bonds)

πŸ“Œ What is Equity?

Owner’s share in the business.

πŸ‘‰ Formula:
Equity = Assets – Liabilities

πŸ“Œ Income and Expenses

* **Income (Revenue)** β†’ Money earned
* **Expenses** β†’ Costs incurred

πŸ‘‰ Profit = Income – Expenses

πŸ“Œ Accounting Principles

Consistency
Accrual concept
Going concern
Matching principle
Prudence (conservatism)

🧾 Practice Accounting Entries (Examples)

Example 1: Started a business with cash

* Debit: Cash
* Credit: Capital

Example 2: Bought goods for cash

* Debit: Purchases
* Credit: Cash

Example 3: Paid rent

* Debit: Rent Expense
* Credit: Cash

Example 4: Sold goods for cash

* Debit: Cash
* Credit: Sales

πŸ” Flow of Accounting Entries

1. Transactions
2. Journal
3. Ledger
4. Trial Balance
5. Financial Statements

πŸ“˜ General Journal

First book of recording transactions.

πŸ‘‰ Contains:

* Date
* Accounts
* Debit/Credit

πŸ“˜ General Ledger

Collection of all accounts.

πŸ‘‰ Shows balances of:

* Cash
* Sales
* Expenses

πŸ“˜ Trial Balance

List of all balances.

πŸ‘‰ Rule:
βœ” Total Debit = Total Credit

πŸ“Š Financial Statements

πŸ“Œ Balance Sheet

Shows financial position.

πŸ‘‰ Formula:
Assets = Liabilities + Equity

πŸ“Œ Income Statement

Shows profit or loss.

πŸ‘‰ Profit = Revenue – Expenses

πŸ“Œ Cash Flow Statement

Shows cash movement:

* Operating
* Investing
* Financing

🧠 Final Quick Summary

* Accounting = Recording + Reporting
* Debit/Credit = Dual system
* Assets = What you own
* Liabilities = What you owe
* Equity = Owner’s share
* Financial statements = Final output

21/05/2026

🧠 Accounting Quick Summary
Accounting = Recording + Reporting
Debit/Credit = Dual system
Assets = What you own
Liabilities = What you owe
Equity = Owner’s share
Financial statements = Final output

πŸš€ Real Ads Results – No Guesswork!Sirf Rs 2,000 spend karke 24 real conversations generate kiye πŸ‘‡(Proof image me dekh sa...
21/05/2026

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Toh simple hai…

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Main aapko bataunga:
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21/05/2026

What are the key Excel skills?

Here are some key Excel skills:

Formulas and Functions: Proficiency in using formulas like SUM, AVERAGE, COUNT, and functions like IF, VLOOKUP, INDEX/MATCH.

Data Management: Skills in data cleaning, filtering, sorting, and grouping.

Data Visualization: Ability to create effective charts, tables, and dashboards.

PivotTables: Knowledge of creating and customizing PivotTables for data analysis.

Conditional Formatting: Understanding of conditional formatting rules to highlight important data.

Data Validation: Skills in setting up data validation rules to ensure data consistency.

Shortcuts and Macros: Familiarity with Excel shortcuts and ability to create and manage macros.

Data Analysis: Ability to analyze data using tools like regression analysis, forecasting, and more.

These skills can help you become proficient in Excel and improve your productivity.

21/05/2026

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20/05/2026

πŸ“Š Accounting = Understanding how business money moves and grows!

πŸ’‘ Key idea:
Assets = Liabilities + Equity

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Dera Ghazi Khan
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