ACCOUNTING FOR KIDS: CHILDREN - Softcover

VERMA, VIPIN KUMAR

9798878456807: ACCOUNTING FOR KIDS: CHILDREN

Softcover

ISBN 13: 9798878456807

Publisher: Independently published, 2024

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This book provides the basic knowledge of accounting world terms to the Kids.
A beautiful conversation between the author Vipin Kumar Verma and his beautiful, curious little sister, age 8 years, on the basic concepts of accounting, which will help the children understand the children the basic ACCOUNTING TERMS, like capital, assets, debtors, etc.
What is the owner?
What is Profit?
What is a loss?

CONTENT

Day 1: Capital, Business, Profit, Loss, Break Even Point
Day 2: Goods, Types of Goods, Opening & Closing Stock
Day 3: Cash Flows
Day 4: B2B and B2C
Day 5: Cost, Calculation of the Cost
Day 6: Currency
Day 7:Calendar Year, Financial Year, Financial Information
Day 8: Assessment Year, Tax
Day 9: Assets and Expenses
Day 10: Debtors and Investment
Day 11: Liability, Creditors, Loan and Debt
Day 12: Accounting Equation: “Assets = Liabilities + Capital”
Day 13: Profit v/s Gain
Day 14: Bad Debt
Day 15: Calculation of the Sale Price
Day 16: Types of Bank Accounts, Interest
Day 17:Insurance and Insurance Premium
Day 18:Discount
Day 19: Debit and Credit Card
Day 20 :Profit and Loss A/c and Balance Sheet
Last Page: Puzzles (21)
Last Page: ACCOUNTING ABCD
A for Assets
B for Bank
C for Capital
D for Debtor

21 Puzzles in last of Book For KIds

Day 1

Vipin: Hi Nancy.... How are you, little sister?
Nancy: I am good brother.
Vipin: How was your day at school?
Nancy: It was fantastic. I have a question.
Vipin: Hmmm....
Nancy: What is the capital?
Vipin: Washington is the capital of America.
Nancy: No...., I answered the same, but my friend's dad said it's the wrong answer. What does the word "capital" mean in business?
Vipin: Ok...
Capital is the investment made by the person in his "own" business. Capital is not the only cash, it also includes other things like furniture, cars, machinery, etc.
Nancy: Dear brother, does dad get the money from the office that is capital?
Vipin: No, dear little sister.
Nancy: But why, bro...
Vipin: Because this is our sweet home, not a business.
Nancy: What is the business?
Vipin: Business is an activity that involves buying and selling things to earn a profit.
Nancy: and our sweet home is not involved in any profit making activities.
Vipin: Very good, Nancy.
One more thing little angel. The person who introduced the capital into his business is known as the owner.
Nancy: hmm..., ok, what is the profit?
Vipin: Okay, understand with an example, you brought one candy for 10 and sold it for 12 in the market. How much extra money was made by the sale?
Vipin: Okay, now answer my one question. What if you sold the candy for 10?
Vipin: Very good, you have a 100% correct answer, Nancy. This situation of "No Profit and No Loss" in the business is known as the Break Even Point. The Break Even Point is a point where "the sales = the cost". I have an exercise for you, dear.
Nancy: yes please
Vipin: The sale price of a doll is 110, but the cost is 90. What is the profit?

Day 9

Vipin: A for .....
Nancy: A for apple
Vipin: Do you like apples? You know, an apple a day keeps a doctor
Nancy: Yes, I love Apple very much, and Apple is healthy for me.
Vipin: A for assets.
Nancy: Assets? What does it mean?
Vipin: Assets mean all the property of the business like cash, bank balance, furniture, machinery, etc.
Nancy: Like pens, pencils
Vipin: No, Nancy, pens and pencils are not assets, they are expenses.
The main difference between assets and expenses is the life of the item.
Usually, the life of the assets is more than one year, and the life of the expenses is less than one.
Nancy: An example, please...