WHAT IS THE VALUE OF LIVE INFORMATION TO ACCOUNTANTS
Live information, also known as real-time or up-to-date information, is highly valuable to accountants for several reasons: In summary, live information is invaluable to...
ACCOUNTING POLICIES AND NOTES
Accounting policies are the rules and guidelines chosen by an enterprise for use in preparing & presenting its financial statements. Accounting policies are important...
What is Out of Order in Case of CC and OD Accounts
Before understanding what is “Out of Order”, we need to first discuss “What is CC/OD Account”: Cash Credit Facility: CC limit is a type...
SAMPLE RENT AGREEMENT
This Rent Agreement is made on this —- Day of —- 2021 by – (Name of Landlord) S/o __(Fathers Name) R/o (residential address of...
Charts of Accounts for Profit and Loss Account
A chart of accounts is a listing of the names of the accounts that a company has identified and made available for recording transactions in its general...
ACCOUNTING FOR PRIVATE INDIVIDUALS
Most of the persons or private individuals do not keep accounts. Some of the people think as it is a waste of time and...
Letter of Credit
A letter issued by a bank to another bank as a guarantee for payments under the specified contract between the buyers and the sellers....
Simple Credit Journal Entries
Credit transaction means any transaction by the terms of which the payment for business transaction is to be made at a future date. For...
Simple Journal Entries
Journal Entry In the age of manual accounting system, business transactions are first noted in a Journal Book. The journal entries are punched in...
Thumb Rule for DEBIT CREDIT
Firstly, you need to identify number of accounts involve in the particular transaction. After identifying account involve in business transaction, you must debit one...
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