Question

Analytical study of all assets or documents in your family presentation and information

Answer 1

A person who invests his hard earnedmoney into business whether big or smallexpects good returns. To calculate returns businessman has to maintain systematic recordof all transactions. One of the primary functionof accounting is to provide vital informationfor decision making to external and internalusers. Book Keeping being defined assystematic record of business transactionsachieves this purpose. Also partnership Act,Companies Act, Co-operative Societies Actmakes it mandatory to keep recordssystematically for knowing operating results.Book-keeping and Accountancy is oneof the core subjects in Commerce faculty. It isa compulsory subject at graduate and post-graduate level. Book-keeping is no doubt oneof the most interesting, practically relevant andimportant subject for students aspiring professional courses like C.A. C.S andI.C.W.A.I.The object of introducing this subject atStd. XI is to develop conceptual understandingof principles of accounting system whichidentifies, analyses, classifies, measures,summaries and records all business transactionsin significant manner in separate set of books.The business transactions are firstrecorded in primary books and subsequently posted in the ledger. At the end of accountingyear it helps in presenting the financial positionand result of operation of that business. Henceaccounting is regarded as the language of business.Book Keeping and Accountancy is botha science as well as an art. As a scienceteacher, commerce teacher must follow basisassumptions and postulates systematically tounderstand why a particular thing is done in a particular manner. As an Art students, commercestudents should be able to apply the skill inmaintaining books of account.

Answer 2

assets are the value of the items or the items that can be measured in monetary terms .assets are all useful or valuable things that one can posses ,assets can also mean wealth of a person or a family .

assets can be regarded as the property owed by a company or an individual and which can be used to pay debts or which have value

in assesing asset value one needs to bare in mind tat assets can be sold quickly in case liquidation is taking place .a family asset may mean the following

a house

a car

house items

land

company