Book keeping and Accountancy class 11 Book keeping and Accountancy class 11, In Class 11, students are introduced to the fundamentals of bookkeeping and accountancy. The subject aims to provide students with a basic understanding of financial transactions, recording them accurately, and preparing financial statements. Here are some of the key topics cover in Class… Read More »
Book keeping and accounting meaning Website link Book keeping and accounting meaning Bookkeeping and accounting are two closely related concepts that involve the recording, organizing, and reporting of financial transactions and information for a business or organization. While they are interconnected, they have distinct meanings: Bookkeeping: Bookkeeping refers to the process of recording and maintaining… Read More »
Bookkeeping Accounting Principles Bookkeeping Accounting Principles are closely intertwine terms that encompass the meticulous documentation, arrangement, and communication of financial transactions and data for a business or organization. Despite their interconnections, these two concepts hold separate significance. Going Concern Principle: This principle assumes that a business will continue its operations in the foreseeable future.… Read More »
Bookkeeping v/s Accountancy Bookkeeping v/s Accountancy, Bookkeeping can be accomplished without relying on QuickBooks or any other accounting software, while still maintaining its distinctiveness: 1. Scope: Bookkeeping primarily focuses on recording and organizing financial transactions, such as recording sales, purchases, payments, and receipts. It involves maintaining accurate and detailed records of these transactions using journals, ledgers,… Read More »
Interchange of bookkeeping & accountancy Interchange of bookkeeping and accountancy Website link Interchange of bookkeeping and accountancy: While bookkeeping and accountancy are related fields within the realm of financial management, they are not interchangeable terms. They refer to distinct activities and have different scopes of work. Bookkeeping primarily involves the systematic recording, organizing, and maintaining… Read More »
Book Keeping Book keeping is a subset of accounting and refers to the process of recording and organizing financial transactions of a business. It involves systematically recording the financial activities such as sales, purchases, receipts, and payments in appropriate books or electronic records. Accounting, on the other hand, encompasses a broader set of activities… Read More »
Bookkeeping process explained It involves the bookkeeping process explained systematic recording, organizing, and tracking of financial transactions and activities of a business. It provides the foundation for accurate financial reporting and analysis. Here’s an overview of how bookkeeping works: Recording Transactions: Bookkeeping starts with recording all financial transactions of the business. This includes both… Read More »
Bookkeeping vs Accounting Bookkeeping vs accounting are two interrelated yet separate functions within the realm of financial management. The following are the fundamental distinctions between bookkeeping and accounting: Scope: Bookkeeping focuses on the systematic recording and organization of financial transactions. It involves tasks such as maintaining ledgers, recording income and expenses, reconciling accounts, and… Read More »
Do accountants do bookkeeping Yes, accountants can perform bookkeeping tasks as part of their responsibilities. While bookkeeping and accounting are distinct roles, there can be overlap between the two. Accountants have the knowledge and skills to handle bookkeeping tasks, but their expertise extends beyond basic record-keeping. To visit https://www.incometax.gov.in In some cases, accountant may choose… Read More »
PF (Provident Fund) number PF number lookup using employer’s name: To get your PF (Provident Fund) number using your employer’s name, you can follow these steps: Visit the EPFO website (Employees’ Provident Fund Organisation). Click on the “For Employees” option and select “Know Your PF Balance” from the drop-down menu. Select your state and click… Read More »