Accounting

Financial statement analysis is the process of analyzing a company's financial statements for decision-making purposes. External stakeholders use it to understand the overall health of an organization as well as to evaluate financial performance...

We would like to inform you that CBIC has notified the specific provisions to be effective from 1st January 2022. We have summarized a few of them below. 1. Blocking of GSTR-1 for non-filing of...

Professional fees of Rs.100000/- is paid to a consultant Thakur & Co. Please pass the necessary Journal Entry for both situation. Situation A: If Thakur & Co. having not GST registration Situation B: If Thakur &...

COMPANIES SECTION 2(20) As per Section 2(20) of Companies Act, 2013 A company means a company incorporated under this act and any previous Company law. Features of company T – Transferability of shares O – Ownership is different from...

Guide to understand Budget 2021(For Apr 2021 to March 2022)The budget is also known as the annual financial statement, which is presented by the government to highlight its expenditure and receipts.* Revenue expenditure (Income...

Meaning of Accounting Accounting is an art of systematically recording, classifying, summarizing of transactions and events in terms of money which are at least a part of financial character and interpreting (describe) the result there of. Transactions It means a financial...

On the auspicious day of Holi, May the Almighty bless us all with good health, wealth, peace, joy, happiness and above all, togetherness. A very Happy Holi to everyone.🔴🟢

ABC Ltd received a legal advice from Thakur & Co. (Advocate Firm) and legal fees of Rs.100000/- is paid to a Thakur & Co. Please pass the necessary Journal Entry in the books of ABC Ltd. 1st Journal Entry Legal...

Accounting •Accounting is the process of identifying, measuring, and communicating economic information to permit informed judgments and decisions. Put more simply, accounting is the “language of business.” •“Accounting is the art of recording, classifying and...

What is the Double-Entry System? The double-entry system of accounting or bookkeeping means that for every business transaction, amounts must be recorded in a minimum of two accounts. The double-entry system also requires that for all transactions, the amounts...