Rules For Setting Accounts After Dissolution mixrootmod.com Join @TechnicalATG In partnership, the partnership deed has a significant place. On the basis of it, the accounts of partnership are in the Partnership Deed, the matter may be finally disposed finalised and settled. But if there is no mention of settlement ship Act of on the basis … Read more
Who can be a Partnership? Join @TechnicalATG 1. Person- According to Sec. 11 of the Indian Contract Act, every person who is of the age of majority according to law to which he is subject to and who is of sound mind and is not disqualified from contracting by any law to which he is … Read more
10 Secrets To Successful Long-Term Investing In 2022 10 Secrets to Successful Long-Term Investing in 2022 Long-Term Investing: Investing isn’t just for Wall Street gurus and finance wizards. It’s also something you can, and should, do with your hard-earned money to improve your financial future. If you put in the time and effort now, you can … Read more
What are the Different Branches of Accounting? The following are the main branches of accounting: Join @TechnicalATG (a) Financial accounting: Financial Accounting is that branch of accounting which involves identifying, measuring, recording, classifying, summarising the business transactions, i.e. it involves the steps from Identifying, Recording of transactions to Summarisation, and communicating the financial data. (b) … Read more
Characteristics of Accounting: Characteristics of Accounting The following attributes or characteristics can be drawn from the definition of Accounting: Join @TechnicalATG (1) Identifying financial transactions and events Accounting records only those transactions and events which are of financial nature. So, first of all, such transactions and events are identified. (2) Measuring the transactions Accounting measures … Read more
Objectives of Accounting The main objectives of accounting are: Join @TechnicalATG To maintain a systematic record of business transactions Accounting is used to maintain a systematic record of all the financial transactions in a book of accounts. For this, all the transactions are recorded in chronological order in Journal and then posted to principle book … Read more
What is the difference between accounts, accounting and accountancy? Join @TechnicalATG Difference between an Account, Accounting, and Accountancy is mentioned below: Account: An account is a record holder used to store and make transactions. It prepares the financial documentations in the form of debit or credit cards. Standardly, an account is the statement of … Read more
What Is Accounts accountancy and accountants Join @TechnicalATG What is an Account? Definition: An account is a record in an accounting system that tracks the financial activities of a specific asset, liability, equity, revenue, or expense. These records increase and decrease as the business events occur throughout the accounting period. Each individual account is stored in the … Read more