Our revision notes for CBSE NCERT books for Class 11 Accountancy provide simple and comprehensible study material as per the syllabus. to have a detailed sense of the chapter for a better understanding. offered by Vedantu is a step-by-step coverage of all the topics. Our, aid students to have a quick go-through of the various concepts and variables, which comprise accountancy. Accounts Class 11 Chapter 1 – Limitations of Accounting. Many stakeholders depend on them for vital information about the company. Let us take a look at some limitations of accounting. Disadvantages (limitations) of accounting :-(i) Accounting records only those transaction which can be measures in the terms of money. Recording of financial events as per the diktats of accounting takes into consideration only past transactions of a business. It is not for compiling, recording, and summarising data which reflects the current financial position of a business. Sorry!, This page is not available for now to bookmark. However, accounting is not a perfect science yet. Our revision notes for, CBSE NCERT books for Class 11 Accountancy. It is well established that accounting, especially financial accounting is of absolute importance. provide simple and comprehensible study material as per the syllabus. Our Accountancy Class 11 Chapter 1 Notes aid students to have a quick go-through of the various concepts and variables, which comprise accountancy. (vii) Accounting helps in preparation of financial statement like PG2 A/C balance sheet. Download the NCERT CBSE Revision Notes PDF to have a detailed sense of the chapter for a better understanding. (ii) Accounting information is sometimes based on estimates which may be unrealistic. Revision Notes for Class 11 Accountancy offered by Vedantu is a step-by-step coverage of all the topics. Download the NCERT CBSE Revision Notes PDF. It ignore non monetary transaction.
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