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Please help me in accounts

Saraswathi (Curious & Ambitious) (64 Points)

30 November 2013

Hi,

I am preparing for IPCC Nov 2014 exams. I am very confused with "Self Balancing and Sectional Balancing System" in group1. Please help me to learn it easily. I have understand the concepts, but when it is about accounts, it's a little bit confusing. I'm following Tulsian's book and doing self study. please help me......

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11 Replies

ramaiah naidu (articled assistant) (34 Points)
Replied 30 November 2013

Hiii saraswathi...i also suffer same situation. By gods grace in exam didn't ask...cleared exam

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Saraswathi (Curious & Ambitious) (64 Points)
Replied 30 November 2013

Ohhh.... Happy for you..

Ravi Kumar Prajapati (CA FINAL) (766 Points)
Replied 30 November 2013

Hey Sarswati you can refer Praveen sharma's Accounts vedios for conceptual clarity. you can get this vedio DVD with your freinds circle free of cost..

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Hojefa (Ca final) (178 Points)
Replied 30 November 2013

Dear,

Self Balancining is nothing but treat it as a normal ledger.

1.if debtors balance opn ,sales shown in dr side of debto a/c while receipt of the same is crdited

& cash or bank debited ,or any dis allowed to customer & cls baln of debtors shown in credit side.

2.if in any case debtors a/c having opn dr bal & cls cred bal then its suggest debtor has given payment in advance of sales during year so credit side will be more & its hsows crdit bal.

whatever applies to debtor A/c directly its apply to creditor inverse, it means crditor hvng crdit bal generally (money own to them). but in any case advance payment made for purchase then its shows debit balance also at end of the year.

i hope it will help u little bit.go conceptually its easy.

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Saraswathi (Curious & Ambitious) (64 Points)
Replied 30 November 2013

Thanks to all of you

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*RENU SINGH * (✩ §m!ℓ!ñġ €ม€§ fℓม!ñġ ђ♪gђ✩ ) (21627 Points)
Replied 30 November 2013

Dont focus too much on this chapter. It's really not worth it.

Just understand the proforma with one method and second is exact opposite.

You may feel it complicated first ...but if u think with a logic ... it's not even tough than our contra accounts ( 11 th me same thing was quite tough for me)

Just go with the flow and think about Journal entry , you will easily know how to make accounts then.

Goodluck

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ChandraSingh (Hubli) (25 Points)
Replied 30 November 2013

Mainly the journal entries its effect and treatment should be known and jornal entries are very very important

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Anudeep Thakur (Article Assistant) (24 Points)
Replied 01 December 2013

Early days of IPCC... 2014 Nov attempt, long time.. Don't panic.. Try to understand the concept and moreover focus more on those topics which will fetch maximum marks.

1 Like