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Contents1 Meaning of Bank2 Definitions of Bank3 Functions of Commercial Bank3.1 I) Primary Functions3.1.1 1. Accepting Deposit:3.1.2 2. Lending Money3.2 II) Secondary Functions3.2.1 1) Agency Functions:3.2.2 2) Utility Functions: Meaning of Bank The bank is a Financial Institution. The bank is one of the important aids to trade. The bank plays an important role in … Read more
Contents1 2 3 4 5 6 Accounting Treatment Dissolution of Partnership Firm, In such a situation, while the prevailing partnership is dissolved, the firm may continue under an equivalent name if the partners so decide. In other words, it’s the outcome of the dissolution of a partnership but not that of the firm. As stated … Read more
Contents1 2 3 4 5 6 7 Accounting records, which aren’t strictly kept consistent with the double-entry bookkeeping system are referred to as Accounts from incomplete records. Many authors describe it as a single-entry system. However, a single-entry bookkeeping system may be a misnomer because there’s no such system for maintaining accounting records. It is … Read more
Contents1 2 2.1 1. New profit sharing ratio2.2 2. Sacrificing ratio2.3 3. Valuation and adjustment of goodwill2.3.1 Meaning of Goodwill2.3.2 Factors Affecting the Value of Goodwill2.3.3 Need for Valuation of Goodwill2.3.4 Methods of Valuation of Goodwill3 3.0.1 (1) By Premium Method3.0.2 (2) By Revaluation Method4 5 6 7 Admission of a Partner means that a … Read more
Contents1 2 3 4 5 6 7 8 9 10 11 12 13 14 Partnership Account, As the business expands, one needs more capital and a bigger number of individuals to manage the business and share its risks. when two or more persons are close to establishing a business and sharing its profits. On many … Read more
Contents1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Issue and Redemption of debentures- A company raises its capital using an issue of shares. But the funds raised by the difficulty of shares are seldom capable meet the future financial needs of a corporation. Hence, most companies address … Read more
Contents1 2 3 3.0.1 3.1 3.1.1 Contents of Articles of Association3.2 3.2.1 Contents of Prospectus3.2.2 Statutory Requirements of Prospectus3.2.3 Penalty for non-compliance3.3 Documents to Formation of a Company, The journey from an entrepreneurial idea to a fully-fledged company involves a meticulous process of legal and administrative steps. One crucial aspect is the preparation and submission … Read more
Contents1 2 2.1 2.1.1 a. Company Limited by shares2.1.2 b. Company Limited by guarantee2.1.3 c. Unlimited Liability Company3 3.1 3.1.1 Promoter as a person3.1.2 Role of Promoters3.1.3 Steps in the Promotion of a Company3.1.4 1. Come up with an idea or suggest a business activity3.1.5 2. Prepare Financial Plan3.1.6 3. Prepare a draft of the … Read more
Contents1 1.1 1.2 1.3 1.4 1.5 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 … Read more
Contents1 2 2.0.1 (a) Able to Use2.0.2 (b) Customized2.0.3 (c) Tailored3 3.0.0.1 I) Flexibility3.0.0.2 II) Cost of Installation and Maintenance3.0.0.3 III) Size of the Organisation3.0.0.4 IV) Ease of Adaptation and Training needs3.0.0.5 V) Utilities/MIS Reports3.0.0.6 VI) Expected Level of Secrecy3.0.0.7 VII) Exporting/Importing Data Facility3.0.0.8 VIII) Vendors’ Reputation and Capability The sourcing of Accounting software is … Read more