Types of Companies in Accounting

Types of Companies in Accounting

There are five types of companies in accounting and each one has different categories. Now we explain all separately under the following: 1. On the basis of incorporation a) Statutory company b) Registered Company 2. On the basis of the number of members a) Private Company b) Public Company c) One-person company 3. On the … Read more

Sourcing of Accounting Software

Sourcing of Accounting Software

The sourcing of Accounting software is an integral part of the computerized accounting system. An important factor to be considered before acquiring accounting software is the accounting expertise of people responsible in the organization for accounting work. People, not computers, are responsible for accounting. The need for accounting software arises in two situations : (a) … Read more

Management and Accounting Information System

Management and Accounting Information System

Management and Accounting Information System- In order to remain competitive, organizations depend heavily on Information Systems. Management Information System (MIS) is used as the most common form of information system. A management information system (MIS) is a system that provides the information necessary to make decisions and manage an organization effectively. Accounting Information System (AIS) … Read more

What is Computerised Accounting

Computerised Accounting

What is Computerised Accounting- A computer is a device, which is capable of performing a spread of operations as directed by a group of instructions. This set of instructions has been named a program. Computer technology and its usage have registered a significant development during the last three decades. Historically, computers have been used effectively … Read more

Ledger Posting in Accounting

Ledger Posting In Accounting

Ledger Posting in Accounting plays a very important role in maintaining accounts books or records of transactions. At the time of preparing accounts in any organization (business), preparing different ledger accounts, and also finding balance in each account is very important. Accounting is a process of recording the financial transactions of the business. The objective … Read more

Hot releases books of Business Strategy

Hot releases books of Analysis & Strategy

These hot releases books of business strategy by Amazon products & its good definition of financial markets. This book is written by John J. Murphy. This book review is 4.4 out of 5. This book is a Comprehensive Guide to Trading Methods and Applications This outstanding reference has already taught thousands of traders the concepts … Read more

Accounting for Share Capital

Accounting for Share Capital

A company sort of organisation is that the third stage within the evolution of sorts of organisation. Its capital is contributed by an outsized number of persons called shareholders who are the important owners of the corporate.

Computer Application in Accounting

Computer Application in Accounting

Computer Application in Accounting is technological know-how and its utilization has registered an enormous improvement during the closing three decades. Historically, computer systems have been used efficiently in science and science to remedy complicated computational and logical problems. They have additionally been used for completing financial planning and forecasting processes. Recently, modern-day day computers have … Read more

Distinction between Capital and Revenue

Distinction between Capital and Revenue

A very important is the Distinction between Capital and Revenue Items in accounting. The distinction has important implications for creating the trading and profit and loss account and record. The revenue items form a part of the trading and profit and loss account, the capital items help with the preparation of a record. Whenever payment … Read more

Balance Sheet

Balance Sheet

Balance Sheet- The record may be a statement prepared for showing the financial position of the business summarizing its assets and liabilities at a given date. The assets reflect debit balances and liabilities (including capital) reflect credit balances. It is prepared at the top of the accounting period after the trading and profit and loss … Read more