Tag Archives: Accounting India

Functions of Accounting, The Accounting Functions in an Organization

Functions of Accounting

Functions of Accounting: There are certain users of accounts. Earlier it was viewed that accounting is meant for the proprietor or owner of the business, but changing social relationships diluted the earlier thinking. It is now believed that besides the owner or the management of the business enterprise, users of accounts include the investors, employees, […]

Branches of Accounting, Types of Accounting, How Many Branches in Accounting

Branches of Accounting

Branches of Accounting: Accounting has universal application for recording transactions and events and presenting suitable information to aid decision-making regarding any type of economic activity ranging from a family function to functions of the national government. But hereinafter we shall concentrate only on business activities and their accounting because the objective of this study material is […]

Stages of Accounting | Accounting Cycle Steps | How Many Stages?

Stages of Accounting

Stages of Accounting: As per this definition, accounting is simply an art of record keeping. The process of accounting starts by first identifying the events and transactions which are of financial character and then be recorded in the books of account. This recording is done in Journal or subsidiary books, also known as primary books. […]

Systems of Accounting, Basis of accounting (Cash & Accrual Basis)

Systems of Accounting, Basis of accounting

Systems of Accounting, Basis of accounting (Cash Basis & Accrual Basis). Difference between Accrual Basis of Accounting and Cash Basis of Accounting. Cash Basis of accounting: Cash Basis of Accounting is a method of recording transactions by which revenues, costs, assets and liabilities are reflected in the accounts for the period in which actual receipts or […]

Users of Accounting Information, who can use accounting information

Users of Accounting Information

Users of Accounting Information: Accounting is of primary importance to the proprietors and the managers. However, other persons such as creditors, prospective investors, etc. are also interested in the accounting information. Generally users of accounts are classifed into two categories, (a) internal management and owners; and (b) external users or outsiders. Management accounting is concerned with […]

Basic Principles of Accounting and Golden Rules of Accounting

Golden Rules of Accounting

Basic Principles of Accounting and Golden Rules of Accounting. Guidelines on Basic Accounting Principles and Concepts. Here we provide complete guide for all Basic Concepts or Principles of Accounting with Golden Rules of Accounting. In this article you can find complete details regarding Basic Principles and Golden Rules of Accounting like – Basic Principles of Accounting, […]

Should Accountants learn to Code? – Guide for CA, CS, & CMA

Should Accountants learn to Code

Should Accountants learn to Code?: By the heading, you may get confused with what this article is exactly about? Let me give you some background of the subject. Artificial Intelligence (AI) is no longer a pipe dream, and robotic process automation (RPA) is already here and displacing blue collar workers and professionals alike. People like […]

5 Key Factors to Consider While Choosing an Accounting Software

5 Key Factors to Consider While Choosing an Accounting Software

5 Key Factors to Consider While Choosing an Accounting Software. How to Choose Accounting Software. Do you run a small business? Are you planning to switch from traditional bookkeeping practices to using a business accounting software? While almost every business has benefited greatly from employing accounting software, there are few factors that you should consider […]

Accrued Liabilities – Meaning, Definition and Accrued Liabilities Example

Accrued Liabilities

Accrued Liabilities – Meaning, Definition with Example. Find Complete Details for Accrued Liabilities. Here we are providing full details of Accrued Liabilities. In this article we provide Meaning of Accrued Liabilities with Example. recently we provide Bill of Lading Meaning/Definition – Complete Guide. Now you can scroll down below and check complete details for “Accrued Liabilities – Meaning, Definition with Example” […]

Subsidiary Books: Introduction and Advantages of Subsidiary Books

Subsidiary Books CAknowledge

Subsidiary Books: Introduction and Advantages of Subsidiary Books. In a Business most of the transactions generally relate to receipts and payments of cash, sale of goods and their purchase. It is convenient to keep a separate register for each such class of transactions one for receipts and payments of cash, one for purchase of goods […]