what is the difference between ac comprehensiv project and specific project ?what is the importance of these project ?
Hi Shanu,
In Comprehensive Project, you have to pass Journal Entries of certain business transaction (around 25-30) and then prepare Ledger accounts, Trial Balance and from that Financial Statement (i.e. Trading Account, Profit and Loss Account and Balance Sheet) of the business with which you can ascertain certain ratios such as Liquidity Ratios, Profitability Ratios and Debt-Equity Ratio. At the end, comment of the financial position of the business.
On the other hand, you have to prepare two Specific Projects, one on the Ratios and another on Cash Flow Statement of a company. In these projects you have to collect the data (of Balance Sheet, Notes to Accounts and Profit and Loss Account) of certain company and then prepare both the projects accordingly.
In response to the second part of your query, these projects are just to test your knowledge and understanding real world business situations and it will enhance your presentation skills as well. Therefore, these are added to your course of study in Class-XII.
I hope this answers your query.
Keep Posting!!
In Comprehensive Project, you have to pass Journal Entries of certain business transaction (around 25-30) and then prepare Ledger accounts, Trial Balance and from that Financial Statement (i.e. Trading Account, Profit and Loss Account and Balance Sheet) of the business with which you can ascertain certain ratios such as Liquidity Ratios, Profitability Ratios and Debt-Equity Ratio. At the end, comment of the financial position of the business.
On the other hand, you have to prepare two Specific Projects, one on the Ratios and another on Cash Flow Statement of a company. In these projects you have to collect the data (of Balance Sheet, Notes to Accounts and Profit and Loss Account) of certain company and then prepare both the projects accordingly.
In response to the second part of your query, these projects are just to test your knowledge and understanding real world business situations and it will enhance your presentation skills as well. Therefore, these are added to your course of study in Class-XII.
I hope this answers your query.
Keep Posting!!