Contents
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Hello dear students,
Accounting is one of the main subjects that you have to follow if you have selected to study in the Commerce stream. We know that your only wish is to achieve the highest marks in Accounting. For that, you definitely need an orderly note.
We know that our beloved students work hard to find Notes. We do not like to waste your precious time looking for notes. So, ClassWork.LK is ready to give you the clearest, most orderly, and most accurate notes on the subject of accounting. Using the ClassWork.LK website, you can download the notes of each lesson mentioned below for free.
Accounting and Its Need
In this lesson, we will first introduce what is accounting, the objectives of accounting, the parties involved, and the difference between financial accounting and management accounting.
In addition, we talk about the accounting environment, its factors, and how its changes affect the accounting process. We will also talk about the accounting process and its steps under this topic.
Accounting / Grade-12 / Lesson-01 / Accounting & Its Need / Part-01
Accounting / Grade-12 / Lesson-01 / Accounting & Its Need / Part-02
Accounting / Grade-12 / Lesson-01 / Accounting & Its Need/ Part-03
Accounting Equation
Under this topic, we explain the concept of the business unit, the meaning of the term transaction, the concept of financial measurement. Then, we talk about how the accounting equation is constructed and how the transactions that take place in a business affect the accounting equation.
Then, we teach you how to identify the factors that influence the change of ownership of a business entity, how to calculate ownership, and how to calculate profit or loss from net assets.
In addition, in this lesson we will talk about the matching concept, income statement, statement of financial position, how to prepare income statement and statement of financial position using accounting equation.
Accounting / Grade-12 / Lesson-02 / Accounting Equations / Part-01
Accounting / Grade-12 / Lesson-02 / Accounting Equations / Part-02
Accounting / Grade-12 / Lesson-02 / Accounting Equations / Part-03
Double Entry System
Under this, we talk about the dual nature of transactions, the beginning of the double-entry system, its rules, the identification of accounts and its format, the types of ledger accounts, how transactions are recorded in the accounts according to the double-entry theory and the basics of financial statements.
Accounting / Grade-12 / Lesson-03 / Double Entry System / Part-01
Prime Entry Books
The importance of maintaining prime entry books, how a business reports cash transactions, how to keep a petty cash book, how to prepare a bank reconciliation statement, recording of credit purchases, requirement of return journals, how to record transactions in a general journal, the relationship between control accounts and sub-ledgers, how to balance ledger accounts and prepare financial statements, and how to correct transaction errors.
Accounting / Grade-12 / Lesson-04 / Prime Entry Books / Part-01
Accounting / Grade-12 / Lesson-04 / Prime Entry Books / Part-02
Accounting / Grade-12 / Lesson-04 / Prime Entry Books / Part-03
Accounting / Grade-12 / Lesson-04 / Prime Entry Books / Part-04
Accounting / Grade-12 / Lesson-04 / Prime Entry Books / Part-05
Accounting / Grade-12 / Lesson-04 / Prime Entry Books / Part-06
Accounting / Grade-12 / Lesson-04 / Prime Entry Books / Part-07
Accounting / Grade-12 / Lesson-04 / Prime Entry Books / Part-08
Accounting / Grade-12 / Lesson-04 / Prime Entry Books / Part-09
Accounting / Grade-12 / Lesson-04 / Prime Entry Books / Part-10
Accounting Concepts
In this lesson, we have introduced the accounting concepts such as the entity concept, going concern, monetary measurement, periodicity, accrual, matching, materiality, historical, prudence, realization, and disclosure concept. A series of very clear notes on their use are also presented.
Accounting / Grade-12 / Lesson-05 / Accounting Concepts / Part-1
Accounting / Grade-12 / Lesson-05 / Accounting Concepts / Part-2
Accounting / Grade-12 / Lesson-05 / Accounting Concepts / Part-3
Accounting / Grade-12 / Lesson-05 / Accounting Concepts / Part-4
Accounting / Grade-12 / Lesson-05 / Accounting Concepts / Part-5
Accounting / Grade-12 / Lesson-05 / Accounting Concepts / Part-6
Accounting / Grade-12 / Lesson-05 / Accounting Concepts / Part-7
Accounting / Grade-12 / Lesson-05 / Accounting Concepts / Part-8
Accounting / Grade-12 / Lesson-05 / Accounting Concepts / Part-9
Accounting / Grade-12 / Lesson-05 / Accounting Concepts / Part-10
Accounting / Grade-12 / Lesson-05 / Accounting Concepts / Part-11
Accounting / Grade-12 / Lesson-05 / Accounting Concepts / Part-12
Accounting / Grade-12 / Lesson-05 / Accounting Concepts / Part-13
Accounting / Grade-12 / Lesson-05 / Accounting Concepts / Part-14
Financial Statements of a Sole Proprietorship Business
In this lesson, we have first explained the financial statements of a sole proprietorship, the income statement, the statement of financial position, and explained their need.
In addition, adjustments such as closing inventory, receivables, accrued expenses, accrued income, bad debts, provision for doubtful debts, depreciation of property plant and equipment, damages, donations, employee provident funds, and employee trust fund contributions, value-added taxes, goods shipped on a sales or return basis, etc. are also included in this lesson in great detail.
Accounting / Grade-12 / Lesson-06 / Financial Statements of a Sole Proprietorship Business / Part-1
Financial Statements of a Manufacturing Business
In this lesson, we have covered the need for a business to calculate production cost, the primary cost, the overhead cost, the elements of production cost, and the inventory of a manufacturing business.
After discussing the production cost calculation, this lesson teaches you how to do production cost documentation, how to prepare income statement, and statement of financial position of a manufacturing company very correctly.
Accounting / Grade-12 / Lesson-07 / Manufacturing Accounts / Part-1
Non-Profit Organizations
In this lesson, we have included the introduction of non-profit organizations, the need for accounting for those organizations, and special accounts maintained by them.
In addition, we have included notes on special adjustments such as membership funds, accumulated funds, donations, as well as financial statements made by non-profit organizations such as income statement and statement of financial position.
Accounting / Grade-12 / Lesson-08 / Accounting For Non-Profit Organization / Part-1
Incomplete Records
In this lesson, we have provided a series of notes explaining incomplete entries, explaining the reasons for incomplete records, and how an organization prepares financial statements when incomplete records are completed.
Accounting / Grade-12 / Lesson-09 / Incomplete Records / Part-1
Partnership Accounting
Under this lesson, we will introduce Partnership business, its agreements, related regulations, specific transactions, capital and current accounts, and financial statements.
Also, this lesson discusses the way profits are appropriated into partners’ wages and interest on capital, how to transfer profit share and other appropriations into their current accounts, and how to record transactions during the recruitment and retirement of partners.
Accounting / Grade-12 / Lesson-10 / Accounting For Partnership / Part-1
Accounting / Grade-12 / Lesson-10 / Accounting For Partnership / Part-2
Accounting / Grade-12 / Lesson-10 / Accounting For Partnership / Part-3
Accounting / Grade-12 / Lesson-10 / Accounting For Partnership / Part-4
Sri Lanka Accounting Standards
Accounting / Grade-13 / Lesson-11 / Sri Lanka Accounting Standards / Accounting for Lease Property
Accounting / Grade-13 / Lesson-11 / Sri Lanka Accounting Standards / Accounts & Discloses Revenues
Accounting / Grade-13 / Lesson-11 / Sri Lanka Accounting Standards / Events After Reporting Period
Accounting / Grade-13 / Lesson-11 / Sri Lanka Accounting Standards / Property Plant & Equipment
Limited Liability Company
Accounting / Grade-13 / Lesson-12 / Limited Liability Company / Statement of Cash Flows
Accounting Ratios
Accounting/ Grade-13/ Lesson-13/ Accounting Ratios/ Accounting Ratio Analysis – Part-01
Accounting/ Grade-13/ Lesson-13/ Accounting Ratios/ Accounting Ratio Analysis – Part-02
Accounting/ Grade-13/ Lesson-13/ Accounting Ratios/ Accounting Ratio Analysis – Part-03
Management Accounting
Accounting/ Grade-13/ Lesson-14/ Management Accounting/ Basic Concepts of Management Accounting
Accounting/ Grade-13/ Lesson-14/ Management Accounting/ Labour Costing – Part-01
Accounting/ Grade-13/ Lesson-14/ Management Accounting/ Labour Costing – Part-02
Accounting/ Grade-13/ Lesson-14/ Management Accounting/ Material Costing
Accounting/ Grade-13/ Lesson-14/ Management Accounting/ Overhead Costing
Accounting/ Grade-13/ Lesson-14/ Management Accounting/ Use of Management Accounting
Cost, Volume, Profit Analysis
Accounting/ Grade-13/ Lesson-15/ Cost, Volume, Profit Analysis/ Part-01
Accounting/ Grade-13/ Lesson-15/ Cost, Volume, Profit Analysis/ Part-02
Capital Investment Decision
Accounting/ Grade-13/ Lesson-16/ Capital Investment Decision/ Part-01
Accounting/ Grade-13/ Lesson-16/ Capital Investment Decision/ Part-02
So, we, the team of ClassWork, sincerely wish you the strength, courage, and luck to study all these lessons very well and achieve a very great result.
Sir, Grade 13 notes tikath one
Few Lessons Uploaded. Other Lessons will upload this month.
Grade 13 note tikath denda plz
Few Lessons Uploaded. Other lessons will upload this month.
sir grade 12 okkoma meke thiyanawada
Yes
Grade 13 notes nedd sir
Few Lessons Uploaded. Other lessons will upload this month.
Thank u soooooo much sir 💖🥺
Welcome dear student…
thanks a lot and great job
Thankyou Dear 😊
Dear Sir
you did good job. as I am a school teacher I used this notes to those who were not participating continuously to school,(Using What’s app groups). now their attendance are little bit ok not only that your notes are 100% agreed with AL syllabus. thank you very much sir
Welcome Dear 😊
Great work sir
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