Class 11 Accountancy NCERT Solutions Chapter 14 Structuring Database for Accounting
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What is a Structuring Database for Accounting?
Structuring a database is an entity of any business. Before this, we need to understand two main concepts:
The flow process of automated accounting consists of recognizing, storing, and retrieving the digital content of any account in a transaction and be stored in a manner that it should be conveniently accessible for use if and when needed. Constructing an appropriate database for accounting is the way to go ahead. This sort of database involves interconnected data tables in such a way that the data consistency and integrity are not compromised.
How to Design a Database for Accounting
Reality: A situation that occurs in real-time is reality. However, in accounting, the accounting reality has to be described elaborately in a database.
ER Design: Entity-relationship(ER) is a formal description of reality that has to display in picture format.
Relational Data Model: It is an abstract data model that helps to obtain co-related data tables using ER design along with a few setbacks, which are rules enforced to maintain the quality and the integrity of stored data.
Normalization: Once the ER is converted to inter-related data tables, going through for the elimination of duplicate or unwanted data entities.
Refinement: Once normalization is over, an outcome that follows is the final database design.
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Q. What is the need for database normalization?
Ans. The process of efficiently managing the data in any database is called database normalization. This method involves multiple steps that aid in organizing data in a tabular fashion. Unusable data and unwanted features such as insertion, update, and deletion discrepancies are problems.
An Accountant created Bubblegum.
The inventor of bubble-gum was an accountant named Walter E. Diemer in Philadelphia, Pennsylvania, where he was born. He was working as an accountant at a company called Fleer in 1926. That was where his company president was looking to cut expenses. Diemer came across the idea of making their gum base. It was bright pink as it was the only dye available to him at that time.
FAQs (Frequently Asked Questions)
1. What do you Understand by Accounting Data?
Accounting comprises registration and analysis of accounting data. Therefore, students who wish to avail more knowledge about the study must understand the application of accounting data effectively. Accounting is the process of recognizing, calculating, taking down, and conveying the economic episodes data and particulars of a company. Accounting comprises a web of activities that are correlated. It begins with the commencement of a transaction and ends with the printing of financial statements. At every stage, a certain amount of data is present. The data that has been present is accounting data. The information and data generated do not suggest that it is the outcome but merely acts as a medium to share figures.
2. What do you Understand by the Database?
A specific data structure is necessary for storing the accounting data in both computerized and computer-based AIS. A database designed for accounting begins with expressing the existing accounting data using elements based on mental concepts. Data is an amalgamation of previously obtained data that has been present, to be accessed, updated, and handled as and when required. The database is a space for similar information to be stored. After this, multiple operations are present. Absolutely any means of statistics or details could be stored or recorded to form a cohesive set of data. Examples include student names, roll numbers, and marks scored.
3. What is the main concept given in Class 11 Accountancy chapter 14?
Class 11 Accountancy Chapter 14 is about trial balance and errors. Students of Class 11 Accountancy must understand the concept of trial balance. They can study Class 11 Accountancy Chapter 14 from the NCERT Solutions available on Vedantu. NCERT Solutions explain the important concepts of the chapter in easy language. Students can practice examples for creating Trial and balance sheets to score high marks in Class 11 Accountancy.
4. Why is it important to understand the Trial balance?
The students need to understand the Trial balance for Class 11 students because it is the main concept covered in Class 11 Accountancy and is a base for a future in accounts. Students should also understand the double-entry system. This will make it easy for them to understand the concept of trial balance. Students can practice questions related to the trial balance given on the Vedantu website and on the Vedantu app at free of cost. NCERT Solutions for Class 11 Accountancy Chapter 14 can help students to understand the concept of the double-entry system.
5. What is the benefit of using NCERT Solutions for Class 11 accountancy chapter 14?
Students can use the NCERT Solutions for Class 11 Accountancy Chapter 14 for understanding the concepts of Accountancy quickly. The solutions can help students to clear their doubts and score high marks in their final exams. Class 11 Accountancy Chapter 14 NCERT Solutions are explained properly by expert subject teachers for a quick understanding of the topic. Students can download the solutions on their computers to revise the important questions just before exams.
6. What are the different types of errors that can occur in a trial balance?
People maintaining accounts can commit different types of errors in a trial balance. They should be careful while maintaining trial balance. The errors that can occur in a trial balance include errors of omission, errors of principle, errors of amounts, and compensating errors. Students can learn the basic concepts of making a trial balance from the NCERT Solutions for Class 11 Accountancy Chapter 14 available online. The concepts of trial balance are explained in simple language.
7. What do you understand by the format of a ledge Class 11 Accountancy?
A ledger includes the different credits and debits that occur in an account. The ledger is divided into two parts. On the right side, all transactions including credit to an account are recorded. On the left side of the ledger, all transactions including debits to an account are recorded. This will help the students of Class 11 to understand the concept of trial balance and entry of transactions into a ledger book.