Basic Accounting Terms Day 2 || Class 11 || NEB || By: Bijay Keshari

Basic Accounting Terms Day 2

What You'll Learn In This Video:
In this tutorial, we break down the concept of Assets, liabilities, Expenses and incomne.
You will learn
For Class 11 Accountancy, basic terms cover core financial elements like Assets (resources like cash, buildings), Liabilities (what the business owes), Capital (owner's investment), Income/Revenue (earnings), and Expenses (costs to earn revenue), defining the business's financial health through concepts like Profit, Loss, Debtors (owed money), Creditors (owed to others), Stock (inventory), and understanding Debit (left side, increases assets/expenses) vs. Credit (right side, increases liabilities/revenue). These terms form the foundation for recording transactions, preparing financial statements (like the Balance Sheet), and analyzing a company's financial position


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