Accountancy

A bill of exchange, also known as a “trade bill” or a “draft,” is a document that spells out the terms of an agreement between two or more parties. This document can be used in a number of different ways, but it is most commonly used in the world of business as a way to […]

Introduction Issue of Forfeited Shares is a provision given by many companies in their Articles of Association. A company may want to give these provisions to its members in order that the member who cannot pay the instalment on time will not be penalised for losing his shares. Instead, he gets another chance to pay

A theoretical framework in a research study provides the supporting structure for any research. We use theory to explain, predict and understand phenomena. A theoretical framework is the summary of the theory developed with pre-existing knowledge of variables. It serves as your presentation of the idea to explain the research problem.  One of the essential

Introduction The President is the head of state as well as the official executive of the country. Every executive activity performed at the centre is explicitly stated to be done in his name. In accordance with Article 53(1) of the Constitution, which provides that the executive power shall be vested in the President and shall

Subsidiary books record comparable transactions. These are original entry books that record similar or repeating transactions in chronological order. They are used instead of Journal to record similar or repetitive transactions. There are different types of subsidiary books that are used on day to day accounting basis. These books are mentioned below as follows: Cashbook: These

A Solvency ratio can be recognized as one of the key metrics to determine whether an organization can stay solvent or not in the long term. It is a comprehensive measure of solvency (liquidity) as it essentially measures the organization’s actual cash flow instead of the net income. It does so by adding back the

Receipts and payment account is a financial statement that mostly is prepared by Non-Profit Organisations (NPO). This account is made from the transactions recorded in cash books. The sole purpose of this account is for making a financial statement recording cash transactions made for sales or purchases in an accounting year. The receipts and payments

When you start your own business, there are many things to think about. For example, you can think about what products or services you will offer and who are your target audience. But one of the most important aspects of any business is its financial health, and that is where accounting comes in. In this

The Indian Contract Act of 1930 initially included the Contract of Sale, which was put to an end. The new legislation known as the Sales of Goods Act, 1930 was adopted. The Indian Contract Act and the Sale of Goods Act complement each other in this way. The transfer of movable property is controlled by