Accounting

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Accounting

What is Accounting..?

Accounting is the method of recording a business-related financial transactions. The accounting process involves summarizing, reviewing, and reporting these transactions to supervisory agencies, regulators, and tax collectors.

Accounting for All Entities

Accounting is the process for recording financial transactions in the form of financial reports with both numbers and text. It is an essential tool for paying customers, monitoring assets and debts, assessing productivity, and measuring cash flow.

The system is largely self-regulated and structured for financial information consumers, who are called stakeholders: business owners, creditors, staff, administrators, clients, and others. Stakeholders use financial statements to help make decisions about sales, borrowing, and investment.

There are several different fields and positions in accounting. In particular, private (internal) accounting applies to accountants employed within a single business organization. Small business accountants may perform specific roles that require record management (bookkeeping) and reporting of banks.

Accounting professionals are usually divided into three areas: accounting, audit, and consulting. Federal, state, and local tax audits are the focus of the tax profession. Audit functions assess the integrity of the reports and internal controls.

Advantages of Accounting

1. Maintenance of business records
2. Evidence in legal matters
3. Provides information to related parties
4. Replacement of memory
5. Decision making
6. Preparation of financial statements
7. Comparison of results
8. Helps in taxation matters
9. Valuation of business
  • Basic
  • 5,999/-
  • Records 200 Entries In The Financial Year
  • Maintain Sale Accounts
  • Maintain Purchase Accounts
  • Maintain Profit And Loss
  • Maintain Balance Sheet
  • Maintain Assets Accounts And Liabilities Account
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  • Standard
  • 9,999/-
  • Records 500 Entries In The Financial Year
  • Maintain Sale Accounts
  • Maintain Purchase Accounts
  • Maintain Profit And Loss
  • Maintain Balance Sheet
  • Maintain Assets Accounts And Liabilities Account
  • Order Now
  • Premium
  • 14,999/-
  • Records 1000 Entries In The Financial Year
  • Maintain Sale Accounts
  • Maintain Purchase Accounts
  • Maintain Profit And Loss
  • Maintain Balance Sheet
  • Maintain Assets Accounts And Liabilities Account
  • Order Now

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