Read this part carefully before you start your project work; then go to
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CBSE project work was introduced with very high objectives. In fact it is a very powerful tool for education. If you join a foreign university, you will find case studies and project works are given equal importance as your classroom participation. You also have to participate in message board discussion.
First let me tell you about case study. This is a very interesting way of connecting your classroom education to real life situations. For example, at the end of the chapter motivation, the teacher will give you a true story related to the topic with two or three questions at the end. You must study the problem and suggest solutions based on your understanding of the subject. This is very interesting and easy. By doing case study you get an opportunity to apply what you learned in the class. Marks will be counted for your final grade.
Here in CBSE system you are not doing a case study, it is a project work.
Accountancy project work is an opportunity to know something about real life accounting. If done properly it would be very valuable in understanding the classroom accounting. Most of the CBSE students are blindly following the guidelines. This page be updated in October to give you exactly how to create project files with sample work. In the meantime please check the blog for regular updates.
The comprehensive section comes first. Here you have the story of a stationery shop, started by a teacher after retirement. You can change the story to suit your needs.
Here you have a table of contents. All the sections are linked to the table of content.
Please note something very important here:
This work is done on the assumption that the accounts are done manually in ledger. Now manual accounting has disappeared. But unless you understand manual work, you will not be able to comprehend computerized accounting.
Here you have transactions for 3 months. I gave this that way with a purpose. I want you to understand the businesses balance their accounts every month, take a trial balance and then start the next month. If you do not check arithmetic accuracy at least once a month, you will not be able to finish the year end work on time. Here you are not doing the bank reconciliation. But in real life accounting, you need to reconcile your bank account with the statement sent by bank.
You have three trial balances (three columns). When you do the final accounts look at the December end balances only.
Please do not copy blindly. I want you to understand things before you write.
Ledger accounts are not done in T form to make them look like real accounts; but you may change it as you wish. Also note that I did not write narrations, 'to' 'by' to save time.
Three colors are used to indicate three months, only to help to identify the connections easily. Do not attempt to make your file colorful.
Wish you all a very successful school finals....
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