Accountancy

In accountancy, a bank reconciliation statement is a part of financial and banking activities. It is a summary of these activities that do not coincide with the business financial records. A bank reconciliation statement reconciles withdrawals, deposits, transfers as well as other associated activities with banking institutions and other parties. It is a crucial financial […]

In businesses, lots of financial transactions take place with a single party at different points in time. This involves a large number of receipts and a hefty calculation of interests. In order to ease out this process, the idea of the average due date and account current notes have been introduced. Suppose a person owes

To expand one’s business, individuals seek out the admission of a partner. According to the Partnership Act of 1932, the admission of a new partner to a firm is legally allowed if the existing members of the firm agree to it. After the admission of a partner, there is a reconstruction of the agreement that

Introduction Business is the backbone of an economy, and there are many forms of a business entity. In India, a business entity can function as, including but not limited to, a company, partnership business, LLP, Cooperative society. In the partnership form of doing business, two or more like-minded people form a partnership business called a

Business is the backbone of an economy, and there are many forms of a business entity. In India, a business entity can function as, including but not limited to, a company, partnership business, LLP, Cooperative society. In the partnership form of doing business, two or more like-minded people form a partnership business called a ‘firm’.

Introduction: Accounting is a very crucial part of any stream or subject. As a measurement discipline, it deals with measuring all the monetary inputs and outputs. Measurement is one of the crucial aspects of accounting. It has inevitable regulation and evaluating techniques that impact the final valuation. It is the cordial assignment relating all the

Introduction When you are first starting in accounting, it can be daunting to learn all of the terminologies and accounting terms. Accounting terminology is essential because it enables accounting professionals to communicate in a common language, which facilitates communication and allows for better. But don’t worry, we’re here to help! In this article, we will

Introduction As an accountant, it is important to be aware of the accounting standards concepts and objectives. These standards provide guidance for financial reporting. They are necessary in order to ensure that financial statements are accurate and reliable. In this blog post, we will discuss the need for accounting standards and explore their objectives. We

What is the Accounting Process? The accounting process refers to the precise duties involved in finishing an accounting method. The duration of an accounting cycle can be monthly, quarterly, half-every year, or yearly. It could vary from company to corporation however the manner remains identical. The word Accounting brings in conjunction with itself hundreds of

Introduction Every business organisation has its organisational motives. They select appropriate accounting policies to disclose their accounting statements and accomplish their motives. Any investor should be provided with complete information about organisational financial position before they invest, as this helps them interpret the organisation’s standard.  The concept of accounting policies & accounting principles is different.