DK Goel Class 12 Accountancy Book PDF Free Download 2023

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Name of the Book	DK GOEL Accountancy Book
Author of Book	DK Goel
Publication	ARYA PUBLICATIONS
Genre	Preparation for 2023 exams
Year of Publishing	2023
Class	Class 12th
PDF DIRECT LINK	Button is given below

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About DK Goel Class 12 Accountancy Book

DK Goel class 12 Accountancy book is one of the best books to prepare for your board exams. If you are a commerce student and want to study with the help of DK Goel class 12 accountancy book pdf so this is the best website where you will get a direct download link of it.

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In the following paragraphs, we are going to tell you about each and every chapter’s introduction in brief. If you wish to read it here.

So you can otherwise we suggest you download DK goel class 12 accountancy book pdf from the link given above then you can read it offline with full concentration.

Financial Statements of Not-for-profit Organisations- Chapter 1

What are Not-for-Profit Organisations

There are several organizations that are formed not to earn profits but to render services to their members and to the public. These organizations include clubs, libraries, hospitals, schools, religious institutions, literary societies as well as charitable institutions, etc.

These not-for-profit organizations that are also called non-profit-seeking entities exist with the primary motive of providing service.

Such as a club providing sports and recreational facilities; a hospital that renders medical services; a literary society that promotes arts and culture; and, an association that may also be formed to protect the rights of its members.

Here you will get more content regarding DK Goel class 12 accountancy book pdf free download. Though the major source of income of such organizations is membership subscriptions, donations, grants, etc.

There might also be undertaking trading activities in order to earn some profit. These profits are also used for the furtherance of the goals of several organizations.

Now we are going to tell you about the motive of these not-for-profit organizations.

So, the main aim or motive of the aim of these organizations is not to earn profits, they do not prepare Trading and Profit and Loss Accounts but still in that case they had to maintain proper accounts.

We hope that you already got dk goel class 12 accountancy book pdf free download link that we provided you below the first paragraph.

So, we are continuing our topic that it is also a legal requirement and they would also like to know whether their current incomes are sufficient to meet their current expenses.

For this purpose, they prepare an ‘Income and Expenditure Account’ which is similar to a Profit and Loss Account of a profit-seeking entity.

A Balance Sheet is generally prepared in order to show the financial position of the organization on the last date of the accounting year. You can read further in detail about this topic in dk goel class 12 pdf that is given above.

Expenditure & Income Accounts

These accounts are also similar to the Profit & Loss Account of a profit-seeking entity and are prepared whether the current incomes are in excess of current expenditure, in other words, it reveals the surplus or deficit arising out of the activities during a particular period.

You are reading this article about DK Goel class 12 accountancy book pdf free download but you can read more about it in this book.

As it is one of the best reference books. It is prepared in the same manner in the ling and the Profit and Loss Account is prepared in case of trading Hence, all expenses and losses of a revenue nature arc are recorded on its log. All types of incomes and gains of a revenue nature, on its credit side.

This account is surplus or deficit. If the credit side of this account exceeds the own as an excess of income over expenditure (surplus) and on the contrary, It exceeds the credit, it is an excess of expenditure over income (deficit).

Accounting for Partnership firms (Fundamentals)- Chapter 2

First of all, we are going to tell you about what is Partnership. So, Partnership is a relation of mutual trust and faith.

In order to maintain this kind of trust, it’s very crucial or necessary that the partnership accounts should be maintained in an honest, accurate as well as equitable manner.

In the case of Partnership accounts, there should be the presence of a true as well as a fair picture of the partnership business.

For this purpose, it is necessary to study and learn about all the definitions of partnership that are given in the Partnership Act. Along with these definitions of partnerships, the relevant provisions of the Partnership Act which affect the partnership accounts are also a very important part of it.

While we are talking about the Partnership firm so it is very necessary to know the essential features or main elements or characteristics of a Partnership.

There are about seven essential features or main elements or characteristics of Partnership. These are given below in separate paragraphs that include small information about it.

1. Agreement: Agreement is one of the key roles of partnership as partnership depends on it. In other words, the partnership is the result of the agreement. It must come into existence by an agreement and not by the operation of law.

On the contrary, a Hindu undivided family comes into existence by the operation of law and not by an agreement. This type of agreement can be either oral or in writing form.

This kind of agreement forms the basis of mutual rights as well as all the basic and major duties of other partners. DK Goel class 12 accountancy book pdf free download link is given below the first paragraph.

2. Two or more persons: There must be at least two persons to form a partnership. Partnership Act does not specify the maximum number of persons, but Section 464 of the Indian Companies Act, 2013, restricts the number of partners to 50.

3. Sharing of Profits: The agreement between the partners must be aimed at sharing the profits of the business. If some persons join hands to run some charitable activity, this case does not come under a partnership or this will not be a partnership.

Further, if a partner is deprived of his right to share the profits of the business, he cannot be called a partner. But this is not very important or necessary that all partners should share the loss too.

4. Existence of Business and Profit Motive: A partnership can be formed for the purpose of carrying on some business with the intention of earning profits and such business must be legal.

While talking about Existing businesses and profit motives, we would like to tell you one very important point that you should note ‘A joint ownership of some property by itself cannot be called a partnership’.

Further detailed information is given in dk goel class 12 accountancy book pdf.

5. Business carried on by all or any of them acting for all: The sentence ‘Business carried on by all or any of them acting for all means that each partner of a particular business can participate in the conduct of business and in this case each partner is bounded by the acts of other partners with respect to the business of that firm.

6. No Separate Existence: A partnership firm has no separate existence from its members. It means that all agreements that are entered with the firm will be enforceable against each partner separately and jointly.

7. Relationship of Principal and Agent: Each partner is an agent as well as a principal of the firm because he can bind the other partners by his acts. And this is the same in the case of a principal because he himself can be bounded by the acts of the other partners.

DK Goel Class 12 Accountancy Book PDF: FAQs

Conclusion

DK Goel Class 12 Accountancy book is very good for students learning perspective and if you are preparing for class 12 board examinations (Commerce), it is very necessary for you to download the book PDF to study.

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