DK Goel Class 12 Book PDF Free Download Volume 1
If you are a student of class 12 commerce stream and looking for a reliable and comprehensive book for accountancy subject, then you have come to the right place. In this article, we will tell you everything you need to know about DK Goel Class 12 Book PDF Free Download Volume 1. This book is one of the most popular and recommended books for accountancy students who want to ace their board exams and prepare for higher studies. It covers all the topics and concepts of accountancy in a simple and easy-to-understand manner. It also provides plenty of examples, exercises, and solutions to help you practice and master the subject.
dk goel class 12 book pdf free download volume 1
DK Goel Class 12 Book PDF Free Download Volume 1 is divided into four parts: Part A - Financial Statements of Not-for-Profit Organizations, Part B - Accounting for Partnership Firms, Part C - Company Accounts, and Part D - Computerized Accounting. Each part covers a different aspect of accountancy and provides detailed explanations, illustrations, diagrams, tables, charts, etc. to help you grasp the concepts. The book also follows the latest CBSE syllabus and guidelines for accountancy subject. Let us take a look at each part in detail.
Part A: Financial Statements of Not-for-Profit Organizations
Not-for-profit organizations are those entities that are not established for the purpose of earning profit. They are usually formed for social, religious, educational, charitable, or cultural purposes. Examples of not-for-profit organizations are schools, colleges, hospitals, clubs, societies, trusts, etc. These organizations do not have owners or shareholders. They receive their income from donations, grants, subscriptions, fees, etc. They spend their income on fulfilling their objectives and activities.
Financial statements of not-for-profit organizations are different from those of profit-oriented entities. They do not prepare profit and loss account or balance sheet. Instead, they prepare two main financial statements: Receipts and Payments Account and Income and Expenditure Account. Receipts and Payments Account is a summary of cash transactions during a period. It shows the sources and uses of cash by the organization. Income and Expenditure Account is a summary of revenue and expenses during a period. It shows the surplus or deficit of income over expenditure by the organization.
Some of the key concepts and terms related to this topic are:
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Capital Fund: It is the amount of money that belongs to the organization. It is equal to the excess of assets over liabilities.
Donations: They are voluntary contributions made by outsiders to support the objectives of the organization.
Grants: They are financial assistance given by government or other agencies to support the activities of the organization.
Subscriptions: They are regular payments made by members or associates of the organization to enjoy its benefits and services.
Fees: They are charges collected by the organization for providing specific services or facilities to the users.
Endowment Fund: It is a fund created by the organization from donations or grants that are meant to be invested and only the income from the investment is used for the objectives of the organization.
Legacy: It is a gift or bequest made by a deceased person to the organization through his or her will.
Life Membership Fee: It is a lump sum amount paid by a member to become a permanent member of the organization.
Accrued Income: It is an income that has been earned but not received by the organization during the period.
Outstanding Expenses: They are expenses that have been incurred but not paid by the organization during the period.
Part B: Accounting for Partnership Firms
Partnership firms are those entities that are formed by two or more persons who agree to share the profits and losses of a business carried on by them. They are governed by the Indian Partnership Act, 1932. Examples of partnership firms are law firms, accounting firms, medical clinics, etc. These firms have partners who contribute capital, skills, and efforts to the business. They also share risks, responsibilities, and decision-making powers.
Accounting for partnership firms involves recording and reporting various aspects of partnership business such as formation, change in profit sharing ratio, admission, retirement, death, dissolution, etc. These aspects affect the capital accounts, profit and loss accounts, balance sheets, and cash flow statements of the partnership firm. They also require adjustments for goodwill, revaluation of assets and liabilities, distribution of profits and losses, settlement of accounts, etc.
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Partnership Deed: It is a written agreement between the partners that specifies the terms and conditions of the partnership such as name, nature, duration, capital, profit sharing ratio, interest on capital and drawings, salary or commission to partners, etc.
Goodwill: It is an intangible asset that represents the reputation and earning capacity of the partnership firm. It arises due to factors such as location, quality, customer loyalty, brand name, etc. It can be calculated by various methods such as average profit method, super profit method, capitalization method, etc.
Revaluation Account: It is an account that records the increase or decrease in the value of assets and liabilities of the partnership firm due to change in partnership terms such as admission, retirement, death, dissolution, etc. It also shows the gain or loss on revaluation that is transferred to the old or new partners' capital accounts.
Reserve or Accumulated Profits: They are profits that have been retained in the business and not distributed to the partners. They are shown on the liabilities side of the balance sheet under partners' capital accounts.
Loan from a Partner: It is an amount borrowed by the partnership firm from one of its partners. It is shown on the liabilities side of the balance sheet under loans and advances. It carries interest at a specified rate.
Guarantee of Profits: It is an assurance given by one or more partners to another partner that he or she will receive a minimum amount of profit irrespective of the actual profit earned by the firm. The excess or deficiency of profit is adjusted in the capital accounts of the guarantor or guaranteeing partners.
Part C: Company Accounts
Company accounts are those accounts that are prepared by a company, which is a legal entity formed by a group of people who invest money or assets in a common business. A company is governed by the Companies Act, 2013. Examples of companies are Reliance Industries, Tata Motors, Infosys, etc. These companies have shareholders who own the shares of the company. They also have directors who manage the affairs of the company.
Accounting for company accounts involves recording and reporting various aspects of company business such as issue, redemption, and conversion of shares and debentures, financial statements, analysis, etc. These aspects affect the share capital, reserves and surplus, debentures, profit and loss account, balance sheet, and cash flow statement of the company. They also require compliance with accounting standards, disclosure requirements, auditing procedures, etc.
Some of the key concepts and terms related to this topic are:
Shares: They are units of ownership in a company. They can be of two types: equity shares and preference shares. Equity shares are those shares that have voting rights and variable dividends. Preference shares are those shares that have preferential rights over equity shares in terms of dividend and repayment of capital.
Debentures: They are long-term debt instruments issued by a company to raise funds. They carry a fixed rate of interest and are repayable after a specified period. They can be secured or unsecured, convertible or non-convertible, redeemable or irredeemable, etc.
Financial Statements: They are statements that show the financial position and performance of a company. They include statement of profit and loss, balance sheet, statement of changes in equity, and statement of cash flows.
Financial Analysis: It is the process of evaluating the financial statements of a company using various tools and techniques such as ratio analysis, trend analysis, common size analysis, comparative analysis, etc. It helps in assessing the profitability, liquidity, solvency, efficiency, and growth potential of a company.
Accounting Standards: They are rules and guidelines issued by authoritative bodies such as ICAI, MCA, SEBI, etc. to ensure uniformity and consistency in accounting policies and practices followed by different companies.
Part D: Computerized Accounting
Computerized accounting is the process of recording and reporting financial transactions using computer software and hardware. It is different from manual accounting which involves using paper-based records and books of accounts. Computerized accounting has many advantages over manual accounting such as speed, accuracy, efficiency, security, convenience, etc.
Computerized accounting involves using various steps and tools such as:
Data Entry: It is the process of entering the financial data into the computer system using input devices such as keyboard, mouse, scanner, etc.
Data Processing: It is the process of manipulating and transforming the data into meaningful information using software programs such as Tally, QuickBooks, SAP, etc.
Data Storage: It is the process of saving and organizing the data in a systematic manner using storage devices such as hard disk, pen drive, cloud storage, etc.
Data Output: It is the process of presenting and communicating the data in a useful form using output devices such as monitor, printer, projector, etc.
Conclusion
In conclusion, DK Goel Class 12 Book PDF Free Download Volume 1 is an excellent book for accountancy students who want to learn and master the subject in a comprehensive and easy way. It covers all the topics and concepts of accountancy in four parts: Part A - Financial Statements of Not-for-Profit Organizations, Part B - Accounting for Partnership Firms, Part C - Company Accounts, and Part D - Computerized Accounting. The book also provides plenty of examples, exercises, and solutions to help you practice and master the subject. It also follows the latest CBSE syllabus and guidelines for accountancy subject.
If you want to download this book for free, you can visit this link and get access to the PDF file. You can also buy the hard copy of this book from any online or offline bookstore. This book will surely help you score high marks in your board exams and prepare for higher studies in accountancy.
So what are you waiting for? Download DK Goel Class 12 Book PDF Free Download Volume 1 today and start learning accountancy like never before!
FAQs
Here are some frequently asked questions related to DK Goel Class 12 Book PDF Free Download Volume 1:
Q: Is DK Goel Class 12 Book PDF Free Download Volume 1 enough for CB SE board exams? A: Yes, DK Goel Class 12 Book PDF Free Download Volume 1 is enough for CBSE board exams as it covers all the topics and concepts of accountancy as per the latest CBSE syllabus and guidelines. However, you should also refer to other sources such as NCERT books, previous year papers, sample papers, etc. to enhance your preparation and practice.
Q: How can I download DK Goel Class 12 Book PDF Free Download Volume 1? A: You can download DK Goel Class 12 Book PDF Free Download Volume 1 by visiting this link . You will need to enter your name, email address, and phone number to get access to the PDF file. You can also scan the QR code given on the website to download the file on your mobile device.
Q: What are the advantages of DK Goel Class 12 Book PDF Free Download Volume 1 over other books? A: Some of the advantages of DK Goel Class 12 Book PDF Free Download Volume 1 over other books are: - It is written by a renowned and experienced author who has expertise in accountancy subject. - It is simple and easy to understand with clear explanations, illustrations, diagrams, tables, charts, etc. - It provides plenty of examples, exercises, and solutions to help you practice and master the subject. - It follows the latest CBSE syllabus and guidelines for accountancy subject. - It is available in both PDF and hard copy formats.
Q: What are the topics covered in Part A - Financial Statements of Not-for-Profit Organizations of DK Goel Class 12 Book PDF Free Download Volume 1? A: The topics covered in Part A - Financial Statements of Not-for-Profit Organizations of DK Goel Class 12 Book PDF Free Download Volume 1 are: - Meaning and Characteristics of Not-for-Profit Organizations - Accounting Records of Not-for-Profit Organizations - Receipts and Payments Account - Income and Expenditure Account - Balance Sheet - Some Peculiar Items
Q: What are the topics covered in Part B - Accounting for Partnership Firms of DK Goel Class 12 Book PDF Free Download Volume 1? A: The topics covered in Part B - Accounting for Partnership Firms of DK Goel Class 12 Book PDF Free Download Volume 1 are: - Nature of Partnership - Partnership Deed - Reconstitution of Partnership Firm - Admission of a Partner - Retirement or Death of a Partner - Dissolution of Partnership Firm
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