Accounting courses in Chandigarh emerge as passion for new generation Accounting & IT
professionals because Accounting is extremely in demand CBitss rolled out with a quick Quizzing
Session, followed by the hackathon event where the students polished their art of using various
accounting Softwares. Later, the students learned how to face the interview panel. We believe
Training is Success in Progress.
Here are 10 most accounting terms by CBitss
Accounting courses in Chandigarh
1. Assets
In Accounting term, an asset is an economic resource. to produce positive economic value is an
assets can be controlled to produce value held by a company Assets are the resources that has
been accumulated by the business . Weather depreciate over time, or product that are sold-out to
customers. this could embrace money and investments, warehouse inventory, accounts receivable,
buildings and property, instrumentality and provides.
2. Balance sheet
a balance sheet is a summary of the financial balances of an organization and a important aspect of
business. It records the a statement of the assets, liabilities, and capital of a business. From the
balance sheet the financial health of the business and is key to both financial form and accounting.
It show the company's total assets, and how these assets are financed, through either debt or
equity.
3. General ledger
The general ledger is the side of the bookkeeping ledger that contains the balance sheet and
complete record of all the financial transactions of your company. There are need the all information
of business transactions to prepare financial statements and including sales, credit purchases,
assets, liabilities, equity, revenue, office expenses and income losses.
4. Gross margin
Gross margin or profit is a company's total sales revenue and the total number of cost of goods sold
that have been divided by total sales revenue, expressed as a percentage. The total number of cost
have made by the combine costs, such as manufacturing costs, wholesales costs, material, and
supplies.
5. Loss
In accounting term, a loss is a decrease in net income such as When a service or product sells
for less than what it cost to supply or manufacture it. that is outside the normal operations of the
business. Losses are creating in a company through various ways like when expenses have
exceeded revenues of a particular asset, sale of an asset for less than its carrying amount, and the
write-down of assets.
6. On credit/On account
On credit or on account is an basic accounting term that products or services have been owed or
the purchase/sale of merchandise or services on credit. Payment has not instantly been
accommodated these things, and there might be terms on account that may bring about intrigue
charges.
7. Receipts
Receipts is the total amount of cash collected in business transactions or taken into one's
possession, a specified amount of money, goods, etc. It does not include other revenue collected.
Receipts is the sum or amount got and the demonstration of accepting or the condition of being
gotten.
8. Revenue
Revenue is the income of that a company actually receives during a specific period and the sale of
goods and services to customers. revenue, compromising the total amount of all income collected
at one point in time or referred to as sales or turnover. It differ from receipts, It may include cash
sales, credit purchases, and interest income. Some companies receive revenue from interest,
royalties, or other fees.
9. Trade discount
A trade discount is the amount by which a manufacturer reduces the retail price of a product is
based on the volume of goods ordered at one point in time. In which trade discount depend upon the
order of customer, Higher discounts may be appropriate to larger orders, with smaller discounts for
lesser orders.
10. Trial balance
A trial balance is a bookkeeping worksheet in which recorded the general ledger, and includes both
debits and credits for one particular account. The balances are recorded into debit and credit
columns. the trial balance create by the organization related to financial system at the end of every
reporting period.
accounting courses in Chandigarh make really feel student about Corporate world so that they
comes to know about Industry terms and conditions.We are CBitss Technologies , which is a unit
of Sukrala IT Services Pvt. Ltd. company and it is ISO 9001:2008 certified company which
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