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Apr03
2018
The term 'accounting conventions' includes those customs or traditions which guide the accountant while preparing books of accounts. Conventions provide a standardized methodology that acts as a reliable means to compare financial results of different years. Accordingly, accounting conventions govern how companies and people prepare financial reports.
Mar26
2018
In one of our previous blogs we have discussed about Capital Expenditure and Revenue expenditure. Let us now understand Capital Receipts and Revenue Receipts.
Capital Receipts:
Capital receipts are the income received by the company which is non-recurring in nature. They are part of the financing and investing activities rather than operating activities. The capital receipts either reduces an asset or increases a liability. The receipts can be generated from the following sources:
Mar19
2018
Accounting by nature is a task beyond menial recording of numbers and figures. Our previous articles have explained in depth, the relevance of accounting for businesses and individuals in the day-to-day management of financial resources. In this blog, our goal is to dive deeper into the branches of accounting —financial and management accounting, their definition and fundamental differences to broaden our readers’ understanding and career options.
Both financial and management accounting offer businesses the insights needed for decision-making and maximizing profitability. However, they have vast differences in the way the activities are carried and the parties that are involved in those operations.
Mar14
2018
DO ACCOUNTANTS JUST COMPUTE NUMBERS ? NO.
READ BELOW TO FIND OUT MORE
For most people, the tax season and year-end is most dreaded period that can only be dealt with the help of an auditor or an accountant to unravel puzzles related to one’s financial health and overall tax liability. In layman terms, it is the only time period when accounting and auditing team becomes extremely important and is sought to do their magic with numbers in receipts and bills!
Mar12
2018
Every company registered under Companies Act, 2013 has to comply with all the provisions of the Companies Act. The act provides detailed instructions related to preparation of financial statement prepared by companies.
Mar09
2018
WOMEN IN ACCOUNTING ROLES MAKE UP LESS THAN 20 PERCENT OF WORKFORCE IN LEADING ACCOUNTING FIRMS, FINDS A STUDY.
The financial year end is just around the corner and with many companies and tax payers set to close of the books of accounts, it is rather staggering to find out that women who make up at least 50 percent of the accountants, internationally, are still competing to receive fair benefits from employment.
On the international women’s day, this finding warrants a deeper view to determine the issues faced by women in the booming accounting community in India and reasons for the pay gap.
