Objectives of Accounting: As an information framework system, the essential objective of accounting is to give useful data to the interested group of users, both external and internal. The necessary data, especially in case of external users, is given in the form of financial statements, viz., profit and loss account and balance sheet. Other than … Read more
All organization which are driven by profit motive perform several transactions of financial nature such as purchasing of goods, selling of goods, incurring expenses and receiving income etc. All organization undertake several financial transactions such as purchase and sale of goods, incurring revenue and capital expenses and receiving revenue and capital receipts. What is … Read more
Meaning of Accounting: Accounting is the language of finance. It shows the financial position of the business or the firm to any individual who wants to know. It assists with translating the functions and the workings of a firm into substantial reports that can be analyzed. The American Institute of Certified Public Accountants (AICPA) in … Read more
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