PPT - Consignment Accounting (Part - 1) CA Foundation Notes | EduRev

Principles and Practice of Accounting

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CA Foundation : PPT - Consignment Accounting (Part - 1) CA Foundation Notes | EduRev

 Page 1


Consignment Accounting 
CPT Fundamentals of Accounting Chapter 7 Unit I Part 1 
 
CA. Rajesh Singh, ACA  
 
Page 2


Consignment Accounting 
CPT Fundamentals of Accounting Chapter 7 Unit I Part 1 
 
CA. Rajesh Singh, ACA  
 
Learning Objectives 
1 
• Introduction to Consignment Accounting 
2 
• Important Documents 
3 
• Accounting – Books of Consignor 
4 
• Accounting – Books of Consignee 
5 
• Practical Illustrations 
6 
• Answering MCQ’s 
2 
Page 3


Consignment Accounting 
CPT Fundamentals of Accounting Chapter 7 Unit I Part 1 
 
CA. Rajesh Singh, ACA  
 
Learning Objectives 
1 
• Introduction to Consignment Accounting 
2 
• Important Documents 
3 
• Accounting – Books of Consignor 
4 
• Accounting – Books of Consignee 
5 
• Practical Illustrations 
6 
• Answering MCQ’s 
2 
Why Consignment? 
In consignment, 
Consignor, the 
owner of goods 
Sends goods to 
consignor, who 
has a better 
knowledge of 
the local market,  
for the purpose 
of sale on the 
behalf of and at 
the risk of the 
consignor 
3 
Page 4


Consignment Accounting 
CPT Fundamentals of Accounting Chapter 7 Unit I Part 1 
 
CA. Rajesh Singh, ACA  
 
Learning Objectives 
1 
• Introduction to Consignment Accounting 
2 
• Important Documents 
3 
• Accounting – Books of Consignor 
4 
• Accounting – Books of Consignee 
5 
• Practical Illustrations 
6 
• Answering MCQ’s 
2 
Why Consignment? 
In consignment, 
Consignor, the 
owner of goods 
Sends goods to 
consignor, who 
has a better 
knowledge of 
the local market,  
for the purpose 
of sale on the 
behalf of and at 
the risk of the 
consignor 
3 
Features 
1 
• To consign means to send. 
2 
• In consignment business property in goods does not transfer from 
consignor to the consignee. 
3 
• risk and rewards belongs to the consignor 
4 
• consignor reimbursed expenses incurred by consignee on behalf 
of him. 
5 
• consignee should be paid for their service in the form of  
commission. 
6 
• The relationship between the consignor and consignee is that of 
principal and agent. 
4 
Page 5


Consignment Accounting 
CPT Fundamentals of Accounting Chapter 7 Unit I Part 1 
 
CA. Rajesh Singh, ACA  
 
Learning Objectives 
1 
• Introduction to Consignment Accounting 
2 
• Important Documents 
3 
• Accounting – Books of Consignor 
4 
• Accounting – Books of Consignee 
5 
• Practical Illustrations 
6 
• Answering MCQ’s 
2 
Why Consignment? 
In consignment, 
Consignor, the 
owner of goods 
Sends goods to 
consignor, who 
has a better 
knowledge of 
the local market,  
for the purpose 
of sale on the 
behalf of and at 
the risk of the 
consignor 
3 
Features 
1 
• To consign means to send. 
2 
• In consignment business property in goods does not transfer from 
consignor to the consignee. 
3 
• risk and rewards belongs to the consignor 
4 
• consignor reimbursed expenses incurred by consignee on behalf 
of him. 
5 
• consignee should be paid for their service in the form of  
commission. 
6 
• The relationship between the consignor and consignee is that of 
principal and agent. 
4 
Important Documents 
In Consignment Business 
5 
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