It is a fund created by setting aside a certain amount of profit annually. It is invested normally outside the business in securities. It can be created for a. Replacement of assets. b. redemption of debentures/ repayment of loans .....

Capital reserve is created out of  capital profits. It is created for meeting capital  losses or to write off fictitious .....

The importances are: To meet future expenses, losses and liabilities. To calculate true profit and loss To know the actual financial .....

Reserves need not necessarily be created for  particular purpose Provision is created for particular purpose. Reserves can be used for distribution of dividend Provisions cannot be used for distribution of dividend Reserves .....

रामले रावणलाई मारे । यस वाक्यमा बितेको समय जनाएको छ नि होइन त ?  मारे शब्दले पहिले नै .....

To change into indirect questions we need the expressions like Do you know/I have no idea/I don't know /I don't remember etc.  See the example 1. where does he live? I don't know I don't know where he lives.  2. Did you see .....

Statement of affairs is prepared  under single entry system of accounting. It is the list of assets and liabilities of a business firm It is same as balance sheet. The difference between assets and liabilities represent the .....

It is a system of book-keeping  under which only personal and cash accounts are maintained. It records only one aspect of each transactions, which affect either cash or personal accounts  of debtors and .....

It was developed in 1968 BS to meet the requirements of Terai region. Altogether 51 forms were developed under this pranali. This pranali was sufficient to meet the numerous and  complicated transactions in Terai region in comparison to Syaha .....

Dharauti Syaha was used to keeep record of deposit transactions. Awarje was second step of record keeping. it was a kind of legder  and prepared with the help of transctions recorded in SYAHA .....

Commercial accounting is used to determine the profit or loss made during the year. It provides information about firm's performance and financial position. Under commercial accounting, accounts are audited by professional persons licensed as .....

It is based on double entry system. Tax is the principle source of revenue It is based on financial acts and rules. It is collected and guided by budget. .....

It was introduced in the year of 2017 BS. Some of its characteristics were: Trimester budget release system Freezing of budget after lapse of financial year Control of financial administration through  auditing .....

the present accounting system of the government of nepal is called new accouting system.  It is based on double entry system.  It records every financial transaction of the government offices .....

It is based on double entry system. Form based accounting It emphasizes on banking .....

To record systematic accounting for cash  and other properties To ensure that limitations of budget  are properly observed. To provide information for  periodical financial .....

Importances are: To make auditing simple and economical To provide financial data and information  for preparing effective budget. To keep records of past economic activities. .....

The features of government accountig are as follows;  it is only records the government transactions. It must be mauntained by the financial rules and .....

The operating governmnet offices refer to those government offices which work inthe regional or district level offices and receive budget from concerned central level office . The accounting system which is maintained in operating level office is .....

Government accounting is used to record trnasctions in government. It is maintained by thegovernment offices to know the public fund position. It has the system of central level and operating level accounting.  Commercial accounting is used to .....

It can be pretty clear with the terms involved Government accounting is the accounting of  financial information of Government companies. Objectives of government accounting can same as that of accounting dealt in government's .....

central level accounting is used by central level office. It records budget amount  received from ministry of finance and release it to operating level office. operating level accounting is used by operating level offices. It records budget .....

Journal voucher is the first document used for recording the financial transactions that take place in government offices. It is recorded on the base of principles of double entry system. It is used both by central and operating level .....

the petty cash should be closed at the end of the fiscal year.  Generally, petty cash fund account is closed by depositing the remainig amout in to bank .....

types pfr journal voucher are as followwews;, 1. expenditrure journal voucher 2. journal voucher for advance transaction. 3. miscellaneous journal .....

1. in the first part, name of offices, serial number of journal voucher, date of recording included. 2. in the second part, code no, budget head , debit and credit amount are included. 3. in the third part, the serial number of receipt, amount .....

the objectives are as follows;  1. to make systemastic and effective record of cash and bank transactions of government offices. 2. to check the completion of double effect of each transaction. 3. to estimate the amount of cash reimbursement .....

 1. before posting in to bank cash book , as a primary record , journal records should be  prepared. 2. all types of transactions are entersd in bank cash book including all cash receipts and payments in cash .....

The posting from the journal voucher for miscellaneous transactions are as follows 1. revolving fund. 2. budget relese 3. petty cash fund 4. loan 5. employees privident .....

operating level offices receive amount from concerned central level office at every within first week of each month to maintain economic activities of coming month such amount is called budget release.  It is determined on the basis of previous .....

Government offices have to close all their books of accounts at the end of the fiscal year. Along with other accouts, bank cash book is also closed on the same date, usually on 31 .....

bank cash book sdhould be closed at the end of every month as wella s every fiscal year. it provides the information about revenues, expenditure during ther month and balance at  the bank cash book at the end of the .....

The amount which is paid before receiving goods or rendering services is called advance expenditure . It is not expenses but it is trated as expenses for the time being in new accounting system This advance amount must be cleared later on by .....

TO make systematic and pewrmannent record of all cash and bank transactions. to effectively control over cash transaction. to provide necessary information about monthly statement. to check the copletion of double effect of each .....

- only budget expenditures should be posted  - establishment of petty cash fund,  - treatment of advance should be done in budget sheet  budget transfer should be shown in the release part .....

Budget release refers to the release of fund by the central level to the operating level to carry out the expenses. In budget sheet, the budget release section shows the monthly budget release including initial and additional fund .....

Importance of budget is: It helps to make planned expenditure It helps to keep the expenses under control It provdes information about the spending .....

The parts are: 1. Annual appropriation section 2. Budget Release section 3. Budget expenditure .....

All operating level offices receive the  amount of budget release in advance and make the advances out of them. So at the end of the month, it is obligatory, for these offices to submit the budget sheet duly balanced along with other .....

At the end of each fiscal year, all books of accounts must be closed along with budget sheet. In process of closing budget sheet, a closing voucher is passed. This accounting treatment carried out at year end in specific procedures is the annual .....

The guidelines are: Only small(petty) expenses are to be  paid from this fund. Advance payment should not be made. Officer-in charge should inspect the status of fund from time to time. Amount received from staff members or others as refund .....

Petty cashier makes the petty cash expenses out of the petty cash fund given to him. At the end of each month or when the balance  in petty cash falls short, re-imbursement of  petty cash fund is made to facilitate future payment. The .....

to payment the small espenses occured in daily basis in the government .....

Practically, it is not convenient to issue cheques for making small payments e.g newspaper charge, tea and coffee payment etc. Thus that fund which is created to pay for  such petty expenses is called petty cash fund. The book maintained to .....

It provides necessary information to the central level office for keeping  control over budget. 2. it works as basis for estimating future budget of operating level .....

Sometimes it may occur that the bank balances and cash balance of the company may not tally. In such a case, a statement is prepared  for the purpose of reconciling the cash  book with the pass book by writing the  adjustments for .....

sometimes given advance amounts for specific purpose or task  have not been cleared at the end of month in operating level offices. On such condition operating level offices have to prepare report regarding unclearned advance  amount along .....

The bottom part of the statement depicts the position of fund at the end of the current month.  This part includes the cash and bank balance , total amount of budget relesase, total expenditure,  unclear advance and postion of the .....

It includes the expenditure incurred under various heads of the current month. It includes the total of budget. Expenditure of month, release up to the end of the month, BHN, annual budget, expenditure up to the end of the month  are parts of .....

The monthly statement which is  prepared to disclose the position of  budget and position of fund is called  statement of .....