Accountancy

Introduction  A non–profit organisation can be regarded as a particular type of business that has been specifically given tax-exemptions because it facilitates a social clause as well as provides a variety of public benefits. Any amount donated to a non–profit organisations are liable to be tax-deductible from business as well as individuals who make them. […]

Net Realisable Value meaning is the total estimated selling price of market goods subtracting the disposal or sale expenses. It is used in determining the market for single-hand inventory items or lower costs. Here the deduction from the total estimated selling price is the predicted reasonable cost of completion, disposing, and transporting of inventory. The

What is National Income?  In your basic introduction to computation lessons in accounting, you learn the concepts of income, expenditure, profit & loss, along with assets and liabilities. These are the foundational keystones of the introduction to the computation of national income that forms the part of an economy.  National income is also known as

What is the Meaning of Accounting? According to the American Institute of Certified Public Accountants, the meaning of accounting is the art of recording, classifying, and summarising in a significant manner and in terms of money, transactions and events which are, in part at least, of financial character, and interpreting the results thereof.  Keeping a

The liquidity ratio is the ratio between the overall liquid Assets of the company and the liabilities of the bank or other institutions which is related to the company. A liquidity ratio is an essential sector of any financial matter which is also used to determine the debtor’s ability to pay off any debt obligations without raising any

When a company is formed, one of its initial challenges is generating funds. The company can raise funds by either taking a loan, with the help of investors or by issuing debentures and shares.  Issue of debentures meaning: Debentures are an instrument used to raise long term debt capital for the company. The debenture that

An Overview: Limited Liability Partnership (LLP) A corporate form of business requires much compliance, although the shareholders enjoy limited liability. This means that the shareholders cannot be asked to pay more than the total face value of the shares allotted to them at any given point. On the other hand, a partnership firm Form of

ASB is a council that stays under the Institute of Chartered Accountants of India abbreviated as ICAI comprising representatives from government ministries, academicians, and additional professional bodies. ICAI, deputies from ASSOCHAM, CII, FICCI, etc. ICAI is an autonomous body ascertained by an Act of Parliament. Indian Accounting Standards is named and numbered exactly as International

Ledgers have been used for centuries to help businesses keep track of their finances. Today, Ledgers are still an important part of accounting and play a key role in helping businesses run efficiently. In this article, we shall discuss what is Ledger’s meaning and its purpose in accounting, and the different types that are available.

Introduction Precis writing itself possesses particular characteristics to maintain the clarity of the writing, improvisation and the structure of the writing. Clarity might not indicate that it oversimplifies the actual passage and tries to insert its interpretations. Improvisation is an essential part of this Precis writing. In every segmentation and general event, Precis writing might