Day: February 23, 2021

Present  business world is full of competition, uncertainty and exposed to different types of risks. The complexity of managerial problems has led to the development of various management control techniques and procedures useful for the management in managing the business Read More …

The basic financial statements, i.e., the Balance Sheet and Profit and Loss Account or Income Statement of business, reveal the net effect of the various transactions on the operational and financial position of the company. The Balance Sheet gives a Read More …

An analysis of financial statements is the process of critically examining in detail accounting information given in the financial statements. For the purpose of analysis, individual items are studied, their interrelationships with other related figures are established, the data is Read More …

The term financial statements generally refers to two basic statements : (i) The Income Statement, and (ii) The Balance Sheet. Of course, a business may also prepare a Statement of Retained Earnings, and a Statement of Changes in financial Position Read More …

Accounting has been clearly defined as “the measurement and communication process of financial and economic data”. The science of accounting is still in the evolutionary process. The traditional accounting, later styled as single entry from of book-keeping, was in vogue Read More …

In the modern business world, the nature and functioning of business organizations have become very complicated. They have to serve the needs of variety of parties who are interested in the functioning of the business. These parties constitute the owners, Read More …