Accountancy

What is the Forfeiture of Shares? Shares are the units of ownership of a company or equity. Shareholders buy shares from a company or let’s say invest in a company by buying their shares. The shares usually have a subscription price. The company calls for advance instalment payments from the shareholder for the share purchased; […]

Sole proprietors are traders who run the business alone without engaging in any partnership, he/she gets the entire profit as well as are solely liable for losses suffered by such a business. Final accounts of sole proprietors help the sole owner to understand profits and losses incurred by the business. Final accounts meaning, as the

Introduction A consignee is a party that obtains goods from a particular owner. He then holds these goods for the owner and sells them at the appropriate time. In simple words, the process where an entity that owns the goods of consignment and remains in an agreement to sell those goods for the owner (consignor) 

In accounting, elements of financial statements are the individual sets of information that make up the financial statement. It helps in the presentation of the information that will be included in that particular financial statement. Elements of a balance sheet are assets, liabilities, and equity. Elements of an income statement are revenue and expenses. And

Consignment is a business agreement in which the seller delivers items to the agent for the purpose of selling them to customers on his behalf. The terms consignment and sale are frequently used interchangeably. Typically, a sale is a transaction between two parties in which the seller transfers ownership, title, and possession of items to

Introduction It is a common practice for people to start their business as a partnership and in some cases, they diversify their businesses by changing the structure of their businesses from partnership to Limited Liability Partnership (“LLP”). For this reason, it is necessary to understand what LLPs are and how they are different from partnerships.

Depreciation is the measurement of an asset’s valuable loss over time, usage, or obsolescence. Depreciation, rather than writing off an asset as a deductible, recognise the asset’s usage over a period. Depreciation meaning is the loss of an asset’s value due to routine maintenance and obsolescence. GAAP features allow for four different depreciation techniques. The

Introduction Shares and debentures are two of the most common types of securities. They are both important tools for businesses, but they serve different purposes. In this article, we will discuss the definition of shares and debentures, as well as their key differences. We will also explore the different kinds of both that are available

Shares are a type of security that signifies ownership in a company. They are usually used to share the profits and assets of the firm. The holders have the right to own a definite number of shares in a business. They can trade their shares, either privately or through stock exchanges, where various brokers buy

Introduction: Goodwill is an intangible asset that represents the value created by an entity in accounting terms. The term “goodwill” has a broad definition and is frequently used when one entity has  acquired another. The price that entities are ready to pay for acquiring another company at a price that is higher than its actual