Scribd Logo
Upload

Welcome to Scribd!

  • 70 views

    Orientation

    Uploaded by

    prakash28shanker
    The document discusses accounting, what accountants do, and accounting alchemy. It provides an example balance sheet and discusses the role and competencies of accountants. It defines accounting alchemy as transforming accounting numbers to portray hypothetical good performance rather than real performance. The document aims to turn accounting data into insights through accounting alchemy.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    Orientation

    Uploaded by

    prakash28shanker
    70 views20 pages
    The document discusses accounting, what accountants do, and accounting alchemy. It provides an example balance sheet and discusses the role and competencies of accountants. It defines accounting alchemy as transforming accounting numbers to portray hypothetical good performance rather than real performance. The document aims to turn accounting data into insights through accounting alchemy.

    Original Title

    Orientation PPT

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document discusses accounting, what accountants do, and accounting alchemy. It provides an example balance sheet and discusses the role and competencies of accountants. It defines accounting alchemy as transforming accounting numbers to portray hypothetical good performance rather than real performance. The document aims to turn accounting data into insights through accounting alchemy.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    70 views20 pages

    Orientation

    Uploaded by

    prakash28shanker
    The document discusses accounting, what accountants do, and accounting alchemy. It provides an example balance sheet and discusses the role and competencies of accountants. It defines accounting alchemy as transforming accounting numbers to portray hypothetical good performance rather than real performance. The document aims to turn accounting data into insights through accounting alchemy.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    You are on page 1of 20

    UNIVERSITY SCHOOL OF BUSINESS

    DIVISION COMMERCE
    Accounting Alchemy: Turning Data into Insight

    Dr. A. Shanker Prakash


    Associate Professor
    University School of Business
    Chandigarh University

    DISCOVER . LEARN . EMPOWER


    Accounting

    • Accounting is a process of identifying financial

    transactions, measuring them in monetary terms,

    and recording, classifying, summarizing,

    analyzing, interpreting them and communicating

    the results to the users.


    What does an accountant
    do?
    • Examine statements to ensure accuracy.
    • Ensure that statements and records comply with laws and regulations.
    • Compute taxes owed, prepare tax returns, ensure prompt payment.
    • Inspect account books and accounting systems to keep up to date.
    • Organize and maintain financial records.
    Balance Sheet of TCS Company for 2022-23
    General Role &
    Competency Pattern
    • B.Com. is the best program for developing a career in the field of Commerce. After
    completing B.Com. Generally, students are joining M.Com./MBA (Post graduation) Program.
    This program also helps students to pursue higher education in the field of professional
    accountancy like Chartered Accountant (CA) & Company Secretary (CS). B.Com. graduates
    are always demanded by different industries like Banking, Finance, HR, Insurance, Marketing,
    Education, Production, etc. The B.Com. program also offers such kinds of disciplines that help
    students build their businesses. B.Com. graduates are also eligible for applying to the various
    Govt. Jobs like state PSC Class II & III, Banking Sector Jobs, Railways, Civil Services, etc.
    • Job Roles:
    • 1. Accountant, 2. Tax Consultant, 3. Tax Auditor, 4. Finance Manager, 5. Cost Accountant, 6.
    Financial Analyst, 7. Finance Planner, 8. Portfolio Manager, 9. Finance Consultant, 10.
    Investment Analyst, 11. Accountant Executive, 12. Finance Controller, 13. Economist, 14.
    Auditor
    Meaning of Alchemy

    • Convergence of base metal into valuable

    metal.

    • A kind of Parasmani or paras stone which

    can convert Iron into gold and silver.


    Meaning of Alchemy….Cont.

    • Alchemy is derived from the Greek word, Khemia,

    which means to transform, create and perfect 

    something; the goal of which is simply geared towards

    the hastened perfection of specific items.


    Accounting Alchemy

    • Accounting is a scientific study in which

    records of expenditures and incomes of an

    entity, individual or government, are kept

    coupled with other useful information for

    planning, decision-making, and control.


    Background of Accounting Alchemy

    • Accounting alchemy, as Verrecchia (2009) puts it,

    means that individuals assume that accounting

    measures of performance accurately reflect real

    performance and do not assess the characteristics of

    accounting measures to determine whether that is, in

    fact, the case.


    Meaning of Accounting Alchemy

    • Accounting alchemy refers to a superficially magical

    process of transforming accounting numbers in

    financial statements in such a way that they would

    portray good fortunes for firms and hence reflect a

    hypothetical performance and not the real

    performance. 
    Accounting Software
    Packages
    Modern Accountant

    You might also like

    pFad - Phonifier reborn

    Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

    Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


    Alternative Proxies:

    Alternative Proxy

    pFad Proxy

    pFad v3 Proxy

    pFad v4 Proxy