WHAT IS LOSS ? BASIC ACCOUNTING TEMS. ACCOUNTS. CLASS 11H CHAPTER 2.

WHAT IS LOSS? BASIC ACCOUNTING TEMS. ACCOUNTS. CLASS 11H CHAPTER 2.

Transcript

00:00Hello guys, this is Sonia Setia, basic accounting terms we were doing for class 11th account

00:05students, term number 12 we have loss, as we saw that gain is different, profit is different

00:11but in loss, you are going to take everything, whether it is of operating or non-operating,

00:16the losses you have, everything is covered in it, it's the excess of expenses over its

00:21revenue, whenever your revenue is more than the expenses, then what happens in that situation

00:29is profit, but when your revenue is less than expenses, then your loss will come, so what

00:36is loss, it is a broad term, what will come in it, any loss incurred from operating activity

00:41will come, like your cash or goods, which are there, they got spoiled, in fire, in

00:47theft, that too your loss will be covered, loss arising from the events of non-recurring

00:51nature, you sold, any fixed asset, machinery, investment, you suffered loss on that, that

00:57loss will also be covered, thank you so much.