Blog

2018

accounting cycle

Accounting is a repetitive process of recording and interpreting financial data. But, for most businesses, it is a misunderstood term that is mostly restricted to a department which engages in crunching numbers and generating complex reports. The role of accounting is as important to a business just as capital, finance or any other element would play in the achievement of long-term business objectives. It is necessary to have a comprehensive view of accounting processes and better analysis of financial transactions to shed light on wastage and productive areas. For this, it is important to get back to basics of accounting and understand what goes on in the entire accounting cycle.

Archive


2018

Banner for Blog of Munimji 1 1

Despite the fact that articles are some of the most frequently used words in English, many people get confused while choosing the right article in a sentence or deciding if at all an article is needed. This happens because we all use articles generously in our conversations but lack a clear understanding of how to use them or what their role is in a sentence. This blog will touch upon areas like type of articles, grammatical understanding of articles, common errors in use of articles etc.

2018

Blog41

It goes without saying that accounting is not just about juggling complex numbers and figures and other practices that is strictly restricted to accounting and tax professionals. In fact, knowing about the basic accounting concepts and principles helps you understand your business and finances better to make necessary decisions from a financial angle.
As for business owners and entrepreneurs who don multiple hats when it comes to running their business, learning about general accounting jargons and topics would do a great deal by enabling them to proactive to plan and manage business decisions as well as to effortlessly communicate and coordinate financial practices.

2018

Blog39

Introduction to ELSS:

Equity Linked Savings Schemes aka ELSS is a type of mutual fund which offers both good returns with tax saving options. One can avail tax deduction u/s 80C up to the amount invested in ELSS or Rs. 1.5 slakh whichever is lower. Hence, ELSS offers best of both worlds i.e. smart tax management with good returns. ELSS is the most popular tax-saving option particularly among young investors who have higher risk apatite than senior citizens. 

2018

Blog361200x630 1

It is a known fact that accounting practices and processes have undergone a new wave of change over the last few years due to the transformations in the adjacent fields and regulatory systems. The new accounting standards and shift over to the new-age technology has redefined the way businesses, economies and individuals view accounting. No doubt, today, these firms operate as providers of knowledge as a service over the mere practice of juggling numbers and receipts on paper.

2018

Blog341200x6302 Copy

The human race is undergoing a new era of technological revolution. Data have become the new oxygen in our socio-economic environment. Machine Learning, Big Data Analytics, Artificial Intelligence etc. are the new buzz words. Application of Big Data Analytics is increasingly applied to numerous fields such as marketing, economics, agriculture, finance, telecom, healthcare etc. The field of direct and indirect taxes are no exception to this.

Financial Management