State | Tamil Nadu |
Board | State Board [Samacheer Kalvi] |
Class | 12th/HSC |
Subject | Accountancy |
Medium | English |
Download | Text Book |
Document Type |
Samacheer Kalvi Class 12th Accountancy Book
Download Tamil Nadu Samacheer Kalvi Class 12th English Medium Accountancy Book PDF Free Online
Download All Classes Tamil Nadu Samacheer Kalvi Text Books Here
Download Samacheer Kalvi Class 12th Accountancy Book
Class 12th Accountancy Text Book | Download Here |
Introduction:
Maintenance of accounting records as per double entry system is compulsory for certain organisations. For example, in India, companies must maintain accounting records under double entry system as per Section 128(1) of the Indian Companies Act, 2013. Such organisations must maintain accounts only under double entry system. Other organisations may or may not strictly follow the double entry system. Organisations in which double entry system is not strictly followed, accounting records may be maintained as per the requirements and desires of the proprietors and accountants. As the accounting records are not prepared in its entirety as under double entry system, these records are called incomplete records.
Meaning of incomplete records:
When accounting records are not strictly maintained according to double entry system, these records are called incomplete accounting records. Generally, cash account and the personal accounts of customers and creditors are maintained fully and other accounts are maintained based on necessity.
Under this, some transactions are recorded fully, that is, for some transactions both the debit and credit aspects are entered. For example, both the aspects are entered for cash received from customers and cash paid to creditors. Some transactions are partially recorded, that is, only one aspect is entered. For example, expenses paid may be entered only in cash account. Some transactions are not recorded at all, that is, both the debit and credit aspects are not entered.
For example, depreciation on fixed assets. Hence, these are usually called incomplete records. It is an incomplete and unscientific way of book keeping. It was called single entry system of book keeping.
Features of incomplete records
Following are the features of incomplete records
(i) Nature: It is an unscientific and unsystematic way of recording transactions. Accounting principles and accounting standards are not followed properly.
(ii) Type of accounts maintained: In general, only cash and personal accounts are maintained fully. Real accounts and nominal accounts are not maintained properly. Some transactions are completely omitted.
(iii) Lack of uniformity: There is no uniformity in recording the transactions among different organisations. Different organisations record their transactions according to their needs and conveniences.
Searching Terms:
samacheer kalvi class 12 books, samacheer kalvi class 12 tamil, samacheer kalvi class 12 tamil guide, samacheer kalvi class 12, 12th samacheer kalvi textbooks, class 12 samacheer kalvi books pdf, 12th samacheer kalvi books free download, class 12 samacheer kalvi books, 12th samacheer kalvi chemistry book pdf, 12th samacheer kalvi commerce book pdf, class 12 samacheer kalvi commerce solutions, cs samacheer kalvi 12th, class 12 samacheer kalvi computer science solutions, download samacheer kalvi books for 12th standard, 12th samacheer kalvi books download 2021, 12th samacheer kalvi books download, 12th samacheer kalvi books pdf download, 12th samacheer kalvi economics book pdf, 12th samacheer kalvi english book pdf, english samacheer kalvi class 12, 12th samacheer kalvi books pdf free download, french textbook class 12 samacheer kalvi, 12th samacheer kalvi guide chemistry, 12th samacheer kalvi guru, 12th samacheer kalvi cs guide, 12th samacheer kalvi history book
Have a question? Please feel free to reach out by leaving a comment below