ACCOUNTING FOR

BUSINESS

AFTERSCHOOOL – DEVELOPING CHANGE

MAKERS
CENTRE FOR SOCIAL ENTREPRENEURSHIP
PGPSE PROGRAMME –
World’ Most Comprehensive programme in social
entrepreneurship & spiritual entrepreneurship
OPEN FOR ALL FREE FOR ALL

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 ACCOUNTING FOR
BUSINESS
Dr. T.K. Jain.
AFTERSCHOOOL
Centre for social entrepreneurship
Bikaner
M: 9414430763
tkjainbkn@yahoo.co.in
www.afterschool.tk
www.afterschoool.tk

www.afterschoool.tk AFTERSCHOOOL MATERIAL FOR PGPSE PARTICIPANTS

 I SEND GOODS OF RS. 2 LAKH TO
MOHAN AT COST +40%. MOHAN HAS
SOLD GOODS WORTH RS. 1.8 LAKHS
(SELLING PRICE). WHAT SHOULD I
SHOW AS CLOSING STOCK?

 Cost price of the goods sold is 1.8

*100/140 = 1.285
 That means closing stock is 2-1.287

 Closing stock is 71300 answer.

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WHO SENDS PROPORMA INVOICE –
CONSIGNOR OR CONSIGNEE?
 Consignor

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You have send goods of Rs. 1 lakh to
Rishabh on consignment. However,
you have incurred following
expenses:

Packing : 200, freight,
300, octroi : 400, transit insurance:
500, godown rent : 600, godown
insurance: 700. The consignee has
sold goods of Rs. 20000 only (selling
price is 20% plus cost). What is your
closing stock and what is stock
reserve?

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Solution . . . .
 Goods sold = 20000. cost price of these
goods : 20000 * 100/120 = 16666
 Thus cost of goods is 100000-16666 =
83334. However, there is some cost
incurred. The cost is 1400
(200,300,400,500), which is to be added to
it. 1400* 83334 / 100000 = 1167.
 Thus cost of closing stock is : 83334+1167
 =84501.
 STOCK RESERVE: 100000-84501=15499
ANSWER. (selling price – cost)

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What profit will Lata show in her
books, if she sends goods at cost
+25% and instructs consignee to sell
it at cost +50% and 4/5 of the goods
have been sold (the cost of which is
Rs. 2 lakh)?
 Cost 2lakh + 25% = 250000. but the
goods are sold at cost +50%. Thus we
have selling price equal to 300000. Sales
: 4/5 *300000 = 240000. the cost of
these goods is 160000. thus there is
profit of 80000 on these goods.
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In the previous question, if 2%
commission charged by consignee,
what will be profit?
 2% of 240000 is 4800.
 Thus we will deduct this from 80000

 We get 80000-4800

 =75200.

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If in the previous question,
commission includes del creder
commission and there is bad debt of
Rs. 40000, what will be profit?
 Same as previous (no change).

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A sends goods to B at cost + 1/3.
1/10th of the goods were lost in
transit. 2/3rd of remaining were sold
at 20% above invoice price. What is
sale, what is profit? Cost of
goods=45000 closing stock = nil
 45000+1/3 = 60000. thus we had 54000 of
goods at consignee. He sold 2/3rd of this at
20% above IP. 54*2/3=36000
 Thus 36*1.2 = 43200
 Remaining goods were sold at IP, so 18000
(1/3rd of 54000). thus sale = (43200+18000)
 profit = 61200 – (45000)
 =16200 profit. Ans.
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 Goutam sends 1000 packets of Rs
200 each to Rishabh of London. 4/5
of the goods have been sold. 100
packets were damaged (normal
loss). Consignor expenses Rs. 20000,
selling expenses by consignee Rs.
20000. what is the cost per unit of
remaining goods?
 (we shall consider that Goutam had sent only 900
units – as 100 units are normal loss).
 Expenses: (20000/900 *1) = 22.22
 Thus cost of remaining goods is : 200000/900*1
+22.22 = 222+22 = 244.4 answer.
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 I sent 900 units of Rs. 90000 at cost
+30%. The consignee sold them at
Rs. 200 per unit. He will get 5%
overwriting commission and 2%
commission on sale. What is the
commission payable to him?
 Invoice price : 100+30 = 130.
 2% commission = 4 * 900 = 3600

 Overwriting commission = 5% of (200-

130) = 3.5 per unit or 3.5 * 900= 3150.
 Thus total commission is 6750 answer.

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 ABO UT A FTERSCH OOO L
Afterschoool conducts three year integrated PGPSE (after
class 12th along with IAS / CA / CS) and 18 month PGPSE
(Post Graduate Programme in Social Entrepreneurship)
along with preparation for CS / CFP / CFA /CMA / FRM. This
course is also available online also. It also conducts
workshops on social entrepreneurship in schools and
colleges all over India – start social entrepreneurship club in
your institution today with the help from afterschoool and help
us in developing society.

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Why such a programme?
 To promote people to take up entrepreneurship
and help develop the society
 To enable people to take up franchising and
other such options to start a business / social
development project
 To enable people to take up social
development as their mission
 To enable people to promote spirituality and
positive thinking in the world

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Who are our supporters?
 Afterschoolians, our past beneficiaries,
entrepreneurs and social entrepreneurs
are supporting us.
 You can also support us – not
necessarily by money – but by being
promotor of our concept and our ideas.

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About AFTERSCHOOOL PGPSE – the best
programme for developing great entrepreneurs

 Most flexible, adaptive but rigorous programme

 Available in distance learning mode
 Case study focused- latest cases
 Industry oriented practical curriculum
 Designed to make you entrepreneurs – not just
an employee
 Option to take up part time job – so earn while
you learn
 The only absolutely free course on internet
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Workshops from
AFTERSCHOOOL
 IIF, Delhi
 CIPS, Jaipur
 ICSI Hyderabad Branch
 Gyan Vihar, Jaipur
 Apex Institute of Management, Jaipur
 Aravali Institute of Management, Jodhpur
 Xavier Institute of Management,
Bhubaneshwar
 Pacific Institute, Udaipur
 Engineering College, Hyderabad

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Flexible Specialisations:
 Spiritualising business and society
 Rural development and transformation
 HRD and Education, Social Development
 NGO and voluntary work
 Investment analysis,microfinance and inclusion
 Retail sector, BPO, KPO
 Accounting & Information system (with CA / CS /CMA)
 Hospital management and Health care
 Hospitality sector and culture and heritage
 Other sectors of high growth, high technology and social
relevance

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Salient features:
 The only programme of its kind (in the whole world)
 No publicity and low profile course
 For those who want to achieve success in life – not just a
degree
 Indepth knowledge and expertise
 Professional approac: World class approach
 Strong intellectual and business capabilities
 Flexible – you may stay for a month and continue the rest of
the education by distance mode. / you may attend weekend
classes
 Scholarships for those from poor economic background
 Latest and constantly changing curriculum – keeping pace
with the time
 Placement for those who are interested
 Admissions open throughout the year
 Latest and most advanced technologies, books and study
www.afterschoool.tk AFTERSCHOOOL MATERIAL FOR PGPSE PARTICIPANTS
material
Components
 Pedagogy curriculum and approach based on IIM Ahmedabad and ISB
Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad)
 Meditation, spiritualisation, and self development
 Essential softwares for business
 Business plan, Research projects
 Participation in conferences / seminars
 Workshops on leadership, team building etc.
 Written submissions of research projects/articles / papers
 Interview of entrepreneurs, writing biographies of entrepreneurs
 Editing of journals / newsletters
 Consultancy / research projects
 Assignments, communication skill workshops
 Participation in conferences and seminars
 Group discussions, mock interviews, self development diaryng
 Mind Power Training & writing workshop (by Dr. T.K.Jain)

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Pedagogy
 Case analysis,
 Articles from Harvard Business Review
 Quiz, seminars, workshops, games,
 Visits to entrepreneurs and industrial visits
 Presentations, Latest audio-visuals
 Group discussions and group projects
 Periodic self assessment
 Mentoring and counselling
 Study exchange programme (with institutions out of India)
 Rural development / Social welfare projects

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Branches
 AFTERSCHOOOL will shortly open its
branches in important cities in India
including Delhi, Kota, Mumbai, Gurgaon
and other important cities.
Afterschooolians will be responsible for
managing and developing these
branches – and for promoting social
entrepreneurs.

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Case Studies
 We want to write case studies on social
entrepreneurs, first generation
entrepreneurs, ethical entrepreneurs.
Please help us in this process. Help us
to be in touch with entrepreneurs, so that
we may develop entrepreneurs.

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Basic values at afterschoool
 Share to learn more
 Interact to develop yourself
 Fear is your worst enemy
 Make mistakes to learn
 Study & discuss in a group
 Criticism is the healthy route to mutual support
and help
 Ask fundamental questions : why, when, how
& where?
 Embrace change – and compete with yourself
only
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www.afterschoool.tk
social entrepreneurship for better
society

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