CA Foundation Exam > CA Foundation Videos > Principles and Practice of Accounting > Subsidiary Books
Subsidiary Books Video Lecture | Principles and Practice of Accounting - CA Foundation
|
68 videos|160 docs|83 tests
|
FAQs on Subsidiary Books Video Lecture - Principles and Practice of Accounting - CA Foundation
| 1. What are subsidiary books in accounting? |  |
Ans. Subsidiary books are special books used to record specific types of transactions in accounting. They provide a systematic and organized way to record transactions related to cash, purchases, sales, and other categories. These books help in maintaining accurate and detailed records, which can later be summarized in the general ledger.
| 2. What are the advantages of using subsidiary books? | |
Ans. There are several advantages of using subsidiary books in accounting. Firstly, they provide a clear and organized record-keeping system, making it easier to track and analyze specific types of transactions. Secondly, subsidiary books help in saving time and effort as they eliminate the need to record each individual transaction in the general ledger. Finally, these books provide a detailed and comprehensive view of the transactions, facilitating easy identification of errors or discrepancies.
| 3. What are the common types of subsidiary books? | |
Ans. The common types of subsidiary books include the cash book, purchase book, sales book, journal proper, and ledger. The cash book is used to record all cash transactions, including receipts and payments. The purchase book is used to record credit purchases of goods or services. The sales book is used to record credit sales of goods or services. The journal proper is used to record transactions that do not fit into any other subsidiary book. Finally, the ledger is used to classify and summarize transactions from the subsidiary books.
| 4. How do subsidiary books help in preparing financial statements? | |
Ans. Subsidiary books play a crucial role in preparing financial statements. The detailed and organized records in these books provide the necessary information for calculating various financial ratios, such as gross profit margin and inventory turnover. Moreover, the data from subsidiary books is used to prepare the trial balance, which is a key step in preparing financial statements. By ensuring accurate and complete subsidiary books, the financial statements can be prepared with greater reliability and accuracy.
| 5. Can subsidiary books be used in all types of businesses? | |
Ans. Yes, subsidiary books can be used in all types of businesses, regardless of their size or nature. Whether it is a small retail store or a large corporation, maintaining subsidiary books helps in maintaining accurate and detailed records of transactions. By using subsidiary books, businesses can ensure efficient record-keeping, easy identification of errors, and a streamlined process for preparing financial statements.
Related Exams
About this Video
|
4.78/5 Rating |
|
Nov 23, 2024 Last updated |
Video Description: Subsidiary Books for CA Foundation 2024 is part of Principles and Practice of Accounting preparation.
The notes and questions for Subsidiary Books have been prepared according to the CA Foundation exam syllabus.
Information about Subsidiary Books covers all important topics for CA Foundation 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Subsidiary Books.
Introduction of Subsidiary Books in English is available as part of our Principles and Practice of Accounting for CA Foundation & Subsidiary Books in
Hindi for Principles and Practice of Accounting course. Download more important topics related with notes, lectures and mock test series for
CA Foundation Exam by signing up for free.
Description
Video Lecture & Questions for Subsidiary Books Video Lecture | Principles and Practice of Accounting - CA Foundation - CA Foundation full syllabus preparation | Free video for CA Foundation exam to prepare for Principles and Practice of Accounting.
Information about Subsidiary Books
Here you can find the meaning of Subsidiary Books defined & explained in the simplest way possible.
Besides explaining types of Subsidiary Books theory, EduRev gives you an ample number of questions to practice Subsidiary Books tests,
examples and also practice CA Foundation tests.
|
68 videos|160 docs|83 tests
|
|
Explore Courses for CA Foundation exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Free
,Exam
,practice quizzes
,ppt
,past year papers
,Semester Notes
,Viva Questions
,Objective type Questions
,Subsidiary Books Video Lecture | Principles and Practice of Accounting - CA Foundation
,video lectures
,Sample Paper
,Subsidiary Books Video Lecture | Principles and Practice of Accounting - CA Foundation
,Extra Questions
,mock tests for examination
,Previous Year Questions with Solutions
,Important questions
,shortcuts and tricks
,Summary
,study material
,Subsidiary Books Video Lecture | Principles and Practice of Accounting - CA Foundation
,MCQs
;
Study Subsidiary Books on the App
Students of CA Foundation can study Subsidiary Books alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Subsidiary Books,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Subsidiary Books is prepared as per the latest CA Foundation syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup