next class mian hum journal, ledger our trial balance ke bare main jane ge.with example
ALLAH HAFIZ
next class mian hum journal, ledger our trial balance ke bare main jane ge.with example
ALLAH HAFIZ
Badi Shiddath se Intezaar thaa Iss Class Ka.
Nice Explanation in great way and will be waiting for the next class.
Kindly keep continue until complete course.
Jazak Allah Khair.
بہت اچھے طریقے سے سمجھایا ہے آپ نے
ہمیں آپ کی اگلی کلاس کا انتظار رہے گا
sir, aap ny mera queston abhi tak ans nahi kiya
questin is, what's the difference between income and revenue?
sorry aap ko wait krna para actully main iss ka separate thread bana chah raha tha
chale aap ko explain krte hai
Revenue
ye company ki wo earning hoti hai jo company apni main or direct activities say hasil krni hai,
for example
from sales of goods and services
income:
ye company ki overall earning hoti hai jo direct our indirect (receive rent or interest) way say jo hasil hoti hai
ager hum net income ki baat kre
net income
sale - cgs-operating expanses+other income-tax = net income
other income(receive any rent or interest or nay other gain)
Gain
kisi chez k asal say zaida hasil kia jaye
for example
20000 ki machinery 25000 main sale kr di
Profit
profit 2 kism k hote hai
1)Gross profit
gross profit is a profit of the product
sale-cgs= gp
net profit
net profit is a profit of the firm
less operating expenses from the gp
i hope aap ko samjh aa gai ho gi
ager koi masla how to pouch bata deta
to phir, gain or revenue may kaya difference hoa?
for example, we have defected inventory and due to an accountant's mistake, we have recorded it at cost while it should be recorded on NRV.
when we sale this defected one, what will be inflow, gain or revenue according to IAS-18?
case#2: now inventory is not defected but we sale it also above sale price and surplus above sale price is significant. Do we classify it as revenue as it is in ordinary course of business or classify it as gain(according to you) as it is above normal price?
aap ka shukria k aap nay accounting ka course start kia hai. plz is ko continue rakhna.
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