Study, languages, and subjects have always played an integral part in our lives and helped us grow to think analytically, politically, critically, and raise questions to show our society’s positions. From the study of rocks called geology, every subject exists today, a sub-division of geography, which is a division of social studies, to the analysis …
Today all kinds of subjects and studies exist in the world from the study of rocks that is geology to the study of dark matter and string theory, from the literature review to the study of numbers. Excelling in these subjects determines your status in the outside world, one of the most adaptive yet harrowing …
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Business accounting is the operation of recording, evaluating, and demonstrating financial negotiation and data. Business with its performance can be on track. Also, we can record everything from the onset till the end. It is very compound and time-devouring work if executed manually. Both of these software helps to focus upon the evolution and management …
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The cash flow statement or statement of cash flows is an essential tool of financial accounting. It is used along with income statement and balance sheet to analyse the financial position of an enterprise. However, it differs from both of them because it does not record the future outgoing and incoming cash under the credit …
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A Balance sheet is an essential tool for analysing the financial status of an individual or an enterprise. It is used along with other accounting tools like cash flow statement and income statement to calculate and analyse a company’s financial ratios. It is primarily a financial statement that provides the snapshot of an organisation’s liabilities, …
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Conducting an audit is a highly tedious job. It comprises of several steps among which preparing an audit plan constitutes the first step. In simple words, it is defined as a scheme comprising of approaches and strategies adopted by an auditor while administering an audit. To conduct an audit, the auditor must have the relevant …
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A Promissory Note is one of the many credit instruments issued by a creditor to the debtor as a certificate of assurance that a particular payment will be made by a deferred date. The Negotiable Instruments Act of India, 1881 defines a promissory note as a negotiable instrument that directs the payment of a specific …
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Stores Ledger refers to a document or statement that keeps the records of the value and quantity of different stock items issued, received and their closing balance. It is often compared with Bin Cards as both of these statements are used to record stock materials. However, it must be noted that Stores Ledgers do not …
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Exchange of goods can be done for cash or on credit. When goods are traded on credit, the payment is made on a deferred date. In such cases, the seller may either trust the buyer with a verbal promise or may use an instrument of credit to prevent any further delay of payment from the …
What is Bill of Exchange? | Definition, Working, Pros and Cons Read More »
In this modern age, every business does financial transactions with their customers. In most cases, the customer pays the due amount at the time of the transaction. But in some cases, the customer takes a little time to pay the due amount for their convenience. Accounts receivable are due balance money that company hasn’t received …
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