Various Types of Vouchers In Accounting, Be it vouching or passing an entry or maintaining regular books of accounts, the knowledge of vouchers & its types is very important. You must know what a voucher is & what are the various types of vouchers. So, let us have a look on the same. Accounting Voucher: … Read more
Typse of accounts: There are 3 types of Accounts i.e Personal account, Real Account, Nominal Account. The term “account” is always used in accounting / Book keeping to denote a specific record which stores all the debit and credit aspects related to that. Types of Accounts Meaning of Account : In accounting, the transactions that occurred … Read more
Maintaining Books of Accounts by Small Business Owners, Check Complete Requirement of Maintenance of Books of Accounts, also check Requirement to Maintain Books And Audit, What books of accounts are required to be maintained by “persons?”, Where the books of accounts should be kept. in this article you may check complete details regarding Maintaining Books of … Read more
Accounting for Not for Profit Organisation, Check Accounting for non profit organisations, A Not for Profit Organisation prepares their financial statements in the following form: i) Income & Expenditure Account & ii) Balance sheet Generally, such organizations also prepare a Receipt & Payment Account. Accounting for Not for Profit Organisation Must Read – Various Types of Vouchers … Read more
What is Debit and credit explained with accounting equation. We often come across the words Debit and credit in many situations like while reading accounting theory or while applying this theory, means recording the accounting entries… If we ask someone about what’s a debit and what’s a credit then they may say that left had … Read more
Net Present Value (NPV): Present value of cash flows minus initial investments, The Net Present Value (NPV) method as an investment appraisal or capital budgeting technique shows how an investment project affects company shareholders’ wealth in present value terms. Maximizing shareholders’ wealth is an important goal for management, and investment projects with positive NPV are … Read more
Should Professional Accountants Care about Culture? Yes!. Extensive rules and procedures alone are not enough to ensure appropriate conduct in the work place—the financial crisis of 2008 illustrated this. At the Association of Chartered Certified Accountants (ACCA), we believe that a healthy culture is a prerequisite for corporate governance and risk management to be truly effective. … Read more