Index

INTRODUCTION1. INTRODUCTION
1. INTRODUCTION

2. CAREER OPPORTUNITIES

a. CAREER INTEREST

b. CAREER PLAN

c. EMPLOYMENT

3. IF EMPLOYMENT OPTION

a. ACADEMIC ELIGIBILITY TRAINING AND OTHER

REQUIREMENTS

4. THE FUTURE CHALLENGES IN THE EMPLOYMENT

5. THE STEPS TAKEN TO FACE THOSE CHALLENGES BY THE

ORGANIZATION

6. ANALYSIS OF THE WORKING OF ORGANIZATION

7. SUGGESTIONS

8. ROAD MAP OF MY CAREER PLAN

9. CONCLUSION

10. APPLICATION OF CLASS ROOM LEERING DURING INTERNSHIP

11. HOW DID THE INTERNSHIP HELP

12. SUMMARY

Basics of Accounting

Tally is an Accounting Software that helps you in maintaining Accounts and Inventory of your
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office.

What is Accounting

Accounting is the art of recording, classifying and summarizing in a significant manner and in
terms of money, transactions and events, which are in part, at least, of a financial character, and
interpreting the result thereof American Institute of certified public accountants.

Methods of Accounting

There are two types of Accounting Systems.

1. American Method or Single Entry System.

2. English Method or Double Entry System.

1. American Method or Single Entry System.

It has further five types of accounting.

I. Assets Accounts
II. Liabilities Accounts
III. Capital Accounts or Owners Equity A/c
IV. Revenue or Income Accounts
V. Loss or Expenses A/c
Methods of Recording

I. Debit the Increase in the Assets and Credit the Decrease in the Assets.
II. Credit the Increase in the Liabilities and Debit the Decrease in the Liabilities.
III. Credit the Increase in the Capital and Debit the Decrease in the Capital.
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 IV. Credit the Increase in the Income and Debit the Decrease in the Income.
V. Debit the Increase in the Expenses and Credit the Decrease in the Expenses.

2. English Method or Double Entry System.

Classification of Accounts

1. Personal Accounts: These accounts are those accounts which are opened by a name of a
person, firm, company, society or organization.

Rules: Debit the Receiver and Credit the Giver.

Types of Personal Accounts:

I. Natural Personal Accounts:

a) MAHESHs Accounts
b) Owners Capital Accounts
c) Owners Drawing Accounts
d) Debtors Accounts
e) Creditors Accounts
II. Artificial Personal Accounts

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