Accounting 1

HIGHER SECONDARY CERTIFICATE 2028 Business Studies Group • English Version • Dhaka Education Board Accounting First Paper Subject Code 253 Complete Chapter Notes Full syllabus • Labelled diagrams • Board style questions Prepared by Md Ahbab Hamid Khan ahbab.dev October 10, 2026

HSC 2028 • Accounting First Paper • Code 253 1 Contents How this paper is examined 7 1 Introduction to Accounting 11 1.1 What this chapter is about . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 1.2 Key terms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 1.3 What accounting means . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 1.4 Accounting as language, information system, art and science . . . . . . . . . . . . . . . 13 1.5 Book keeping and accounting are not the same . . . . . . . . . . . . . . . . . . . . . . 13 1.6 Objectives of accounting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 1.7 How information flows . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 1.8 Users of accounting information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 1.9 Branches of accounting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 1.10 Qualities of good accounting information . . . . . . . . . . . . . . . . . . . . . . . . . . 15 1.11 Accounting bodies and standards . . . . . . . . . . . . . . . . . . . . . .

HSC 2028 • Accounting First Paper • Code 253 2 2.10 Step 3: post to the ledger . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 2.11 Step 4: prepare the trial balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 2.12 Step 5: pass the adjusting entries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 2.13 Step 6: prepare the worksheet (optional) . . . . . . . . . . . . . . . . . . . . . . . . . . 41 2.14 Step 7: prepare the adjusted trial balance . . . . . . . . . . . . . . . . . . . . . . . . . 42 2.15 Step 8: prepare the financial statements . . . . . . . . . . . . . . . . . . . . . . . . . . 42 2.16 Step 9: pass the closing entries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 2.17 Step 10: prepare the post-closing trial balance . . . . . . . . . . . . . . . . . . . . . . . 42 2.18 Step 11: pass the reversing entries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42 2.19 Cash basis and accrual basis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43 2.20 Accounting cycle and accounting process . . . . . . . . . . . . . . . . . . . . . . . . . . 43 2.21 Source documents come befor