Business Aptitude Skills 27 Sept

www.afterschoool.tk AFTERSCHO☺OL's MATERIAL FOR PGPSE PARTICIPANTS

ADVANCED ACCOUNTANCY AFTERSCHO☺OL – DEVELOPING CHANGE MAKERS

CENTRE FOR SOCIAL ENTREPRENEURSHIP PGPSE PROGRAMME –

World’ Most Comprehensive programme in social entrepreneurship & spiritual entrepreneurship

OPEN FOR ALL FREE FOR ALL


ADVANCED ACCOUNTANCYDr. T.K. Jain.

AFTERSCHO☺OLCentre for social entrepreneurship

Bikaner M: 9414430763

[email protected]

www.afterschool.tk, www.afterschoool.tk


SOLVE THE FOLLOWING

In a Joint Venture A contributes As. 50,000 and B contributes Rs. 1,00,000. Goods are purchased for As. 1,12,000. Expenses amount to As. 7,500. Sales amount to Rs. 1,30,500 the remaining goods were taken up by B at an agreed price of As. 5,000. A and B share profit and losses in the ratio of 1:2 respectively. Accounts are duly settled.


SOLUTION JOINT VENTURE ACCOUNT

BANK - EXPENSES

112000 BY BANK (SALES)

130000

EXPENSES

7500 BY B 5000

PROFIT A 5333

PROFIT B 10667


SOLUTION JOINT VENTURE BANK ACCOUNT

TO J.V.

TO J.V.

112000

7500

BY A

BY B

50000

100000

TO A

TO B

55333

15667

BY J.V. (SALES)

130500


COVENTURER ACCOUNTS

A DEBTI BDEBIT A CREDIT

B CREDIT

TOTAL

5000 50000 100000

55333 (BANK)

15667 (BANK)

5333 10667


QUESTION ON INSURANCE. . .

• On a sale of As. 50, 00,000, a company earned a net profit of Rs. 2,00,000 after charging fixed expenses totaling As. 9,00,000. In the next year, there was a fire due to which there was no production or sale for a period of 3 months whereas in the corresponding period of the previous year there was a sale of Rs. 15, 00,000. If there was a consequential loss policy, what is the amount of the claim that could be lodged under this policy?


SOLUTION . . .

• G.P. RATIO = (N.P. + STANDING CHARGES)/ SALES *100

• (200000+900000)/500000*100 = 22%

• 22% OF 15 LAKHS = 3.30 LAKHS

• 15 LAKHS WAS THE TURNOVER IN THIS PERIOD LAST YEAR AND WE WILL TAKE THE SAME INTO CONSIDERATION.


ERROR REMOVAL • A merchant, while balancing his books of account, finds that’the

trial balance shows As. 3,765 excess credit. Being required to prepare the final accounts, he places the difference to a newly opened suspense account, which he carries forward. In the next accounting year, he locates the following errors:

• (I) A sale for As. 4,000 has been passed through the purchases book. The customer’s account has, however, been correctly debited.

• (ii) A sum of Rs. 896 paid to Dwarka Prasad has been credited to Durga Prasad as Rs. 869.

• (iii) Salary Rs. 1,500 paid to a peon has been debited to the peon’s personal account.

• (iv) Schedule of debtors has been totalled As. 66,560 instead of Rs. 76,560. A provision for bad debts @ 5% of the debtors has been created.


SOLUTION

• SUSPENSE A/C DEBIT • TO P& L APPROPRIATION 8000• DURGA PARASAD DR. 869• SUSPENSE DR. 27• TO DWARIKA PRASAD 896• P& L APPROPRIATION DR. • TO PERSONAL ACCOUNT OF PEON 1500• DEBTORS ACCCOUNT DR.9500 • P & L ACCOUNT 500• TO SUSPENSE ACCOUNT 10000


ABOUT AFTERSCHO☺OL

Afterschoool conducts three year integrated PGPSE (after class 12th along with IAS / CA / CS) and 18 month PGPSE (Post Graduate Programme in Social Entrepreneurship) along with preparation for CS / CFP / CFA /CMA / FRM. This course is also available online also. It also conducts workshops on social entrepreneurship in schools and colleges all over India – start social entrepreneurship club in your institution today with the help from afterschoool and help us in developing society.


Why such a programme?

• To promote people to take up entrepreneurship and help develop the society

• To enable people to take up franchising and other such options to start a business / social development project

• To enable people to take up social development as their mission

• To enable people to promote spirituality and positive thinking in the world


Who are our supporters?

• Afterschoolians, our past beneficiaries, entrepreneurs and social entrepreneurs are supporting us.

• You can also support us – not necessarily by money – but by being promotor of our concept and our ideas.


About AFTERSCHO☺OL PGPSE – the best programme for developing great

entrepreneurs• Most flexible, adaptive but rigorous programme• Available in distance learning mode• Case study focused- latest cases • Industry oriented practical curriculum• Designed to make you entrepreneurs – not just

an employee• Option to take up part time job – so earn while

you learn • The only absolutely free course on internet


Workshops from AFTERSCHO☺OL

• IIF, Delhi• CIPS, Jaipur• ICSI Hyderabad Branch• Gyan Vihar, Jaipur• Apex Institute of Management, Jaipur• Aravali Institute of Management, Jodhpur• Xavier Institute of Management, Bhubaneshwar • Pacific Institute, Udaipur• Engineering College, Hyderabad


Flexible Specialisations:

• Spiritualising business and society• Rural development and transformation• HRD and Education, Social Development• NGO and voluntary work• Investment analysis,microfinance and inclusion • Retail sector, BPO, KPO• Accounting & Information system (with CA / CS /CMA)• Hospital management and Health care• Hospitality sector and culture and heritage• Other sectors of high growth, high technology and social

relevance


Salient features:• The only programme of its kind (in the whole world)• No publicity and low profile course• For those who want to achieve success in life – not just a

degree• Flexible – you may stay for a month and continue the rest of

the education by distance mode. / you may attend weekend classes

• Scholarships for those from poor economic background• Latest and constantly changing curriculum – keeping pace

with the time• Placement for those who are interested• Admissions open throughout the year • Latest and most advanced technologies, books and study

material


Components • Pedagogy curriculum and approach based on IIM Ahmedabad and ISB

Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad)• Meditation, spiritualisation, and self development • Essential softwares for business• Business plan, Research projects• Participation in conferences / seminars• Workshops on leadership, team building etc. • Written submissions of research projects/articles / papers• Interview of entrepreneurs, writing biographies of entrepreneurs• Editing of journals / newsletters• Consultancy / research projects • Assignments, communication skill workshops• Participation in conferences and seminars• Group discussions, mock interviews, self development diaryng • Mind Power Training & writing workshop (by Dr. T.K.Jain)


Pedagogy

• Case analysis,• Articles from Harvard Business Review • Quiz, seminars, workshops, games, • Visits to entrepreneurs and industrial visits• Presentations, Latest audio-visuals• Group discussions and group projects• Periodic self assessment• Mentoring and counselling• Study exchange programme (with institutions out of

India)• Rural development / Social welfare projects


Branches

• AFTERSCHO☺OL will shortly open its branches in important cities in India including Delhi, Kota, Mumbai, Gurgaon and other important cities. Afterschooolians will be responsible for managing and developing these branches – and for promoting social entrepreneurs.


Case Studies

• We want to write case studies on social entrepreneurs, first generation entrepreneurs, ethical entrepreneurs. Please help us in this process. Help us to be in touch with entrepreneurs, so that we may develop entrepreneurs.


Basic values at AFTERSCHO☺OL

• Share to learn more• Interact to develop yourself• Fear is your worst enemy• Make mistakes to learn • Study & discuss in a group• Criticism is the healthy route to mutual support

and help • Ask fundamental questions : why, when, how &

where?• Embrace change – and compete with yourself

only


www.afterschoool.tk social entrepreneurship for better

society