Subsidiary Company in Accounting

Subsidiary Company in Accounting

What is a Subsidiary Company in Accounting? Introduction: Subsidiary Company in Accounting delving into the realm of accounting, it’s easy to get lost in the sea of unfamiliar terminology. One such term that often puzzles individuals is “subsidiary company.” Fear not! In this blog article, we will simplify this accounting and provide you with a … Read more

Impacts of Accounting Services on Businesses

Impacts of Accounting Services on Businesses

What are the impacts of accounting services on businesses? Introduction of the Impacts of Accounting Services on Businesses In the intricate landscape of modern business, accounting services have evolved into a pivotal force that drives financial stability, strategic decision-making, and overall growth. As businesses strive for excellence and efficiency, partnering with proficient accounting services has … Read more

Accounting for Fixed Assets

Accounting for Fixed Assets

Meaning of Accounting for Fixed Assets Accounting for Fixed Assets means long-term palpable pieces of property that an establishment owns and uses in its operations to induce income. They aren’t anticipated to be consumed or converted into cash within a time. Exemplifications of fixed means include land, structures, ministry, and vehicles. Introduction of Accounting for … Read more

What is E-waybill

E-Waybill

What is E-waybill Introduction A Simple Explanation for Easy Understanding In this article, we will demystify the concept of What is E-waybill and provide you with a clear understanding of what it is and how it works. So, let’s dive in! In the dynamic landscape of modern logistics and transportation, the concept of an E-Waybill … Read more

TDS in Accounting

TDS

Meaning of TDS in Accounting The conception of TDS was introduced with the end of collecting duty from the veritable source of income. As per this conception, a person( deductor) who’s liable to make payment of a specified nature to any other person( deductee) shall abate duty at source and remit the same into the … Read more

Accrual vs Cash Basis of Accounting

Accrual vs Cash Basis of Accounting

Introduction to Accrual vs Cash Basis of Accounting In the world of financial management, two fundamental methods stand out: the accrual basis of accounting and the cash basis of accounting. These two approaches play a pivotal role in how businesses recognize and record financial transactions. Accurate accounting is the cornerstone of informed decision-making, and choosing … Read more

Dissolution of Partnership Firm

Dissolution of Partnership Firm

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 by Section 39 of the Partnership Act 1932, … Read more

Formation of a company

Formation of a company

A company is an artificial legal person i.e. it is a creation of law. It comes into existence when it is registered by following the procedures laid down by the Companies Act, of 2013. Formation of a Company means registering or incorporating a company with the Registrar of Companies in the state where the company’s … Read more

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