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 specified nature to any other person( deductee) shall abate duty at source and remit the same into the account … Read more
Meaning of Financial Statements Financial statements of a Company are the introductory and formal periodic reports through which the commercial operation communicates fiscal information to its possessors and colourful other external parties which include investors, duty authorities, government, workers, etc. These typically relate to (a) the balance distance ( position statement) at the end of … Read more
Meaning of Operating Costs in Accounting Operating costs in accounting are the charges that are related to the operation of a business, or to the operation of a device, element, piece of outfit or installation. They’re the cost of coffers used by an association just to maintain its actuality. Services performed may be internal or … Read more
Methods of Costing in Accounting Methods of Costing in Accounting or value accounting is a department of accounting that offers recording classifying and suitable allocation of expenditure to decide the value of products and services. After figuring out the value you possibly can restore the earnings margin and additionally restorative the promoting charge. In this … Read more
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
DIGITAL CURRENCY Digital currency is essentially an electronic form of currency issued by the government while cryptocurrency is a repository of value, which is protected by encryption. Cryptocurrencies are called digital assets while digital currencies are not digital assets. The digital wallets that people started using, especially during the pandemic, may contain both digital currencies … Read more
What are Profitability Accounting Ratios? The profitability accounting ratios or fiscal performance are substantially summarized in the statement of profit and loss. Profitability rates are calculated to assay the earning capacity of the business which is the outgrowth of the utilization of coffers employed in the business. There’s a close relationship between the profit and … Read more
What is an Accounting Ratios? As stated before, Accounting ratios are a pivotal tool of financial statements analysis. Accounting ratios are the fine number calculated as a reference to the relationship of two or further figures and may be expressed as a bit, proportion, chance, and a number of times. When the number is calculated … Read more
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 the economic development of the country by providing financial services. The primary functions of commercial banks include – Accepting deposits and lending funds. Bank Correspondence is essential for every … Read more
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