why u maintain accounts in business
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
The purpose of any business is to earn money. To know how
much profit has been earned or how much loss has been
incurred during a a certain period (Say month pr year), and
the position of assets & liabilities at the end of that
period, Profit & Loss Account and Balance Sheets need to be
prepared. Prerequisite for preparation of these financial
statements is systematically & logically recorded business
transactions during the year.
In short to accounting is required to know the result of
business operation and status as on a particular date.
Is This Answer Correct ? | 8 Yes | 0 No |
Answer / syed noorullah
accounts is a process of identification of financial
position of business
Is This Answer Correct ? | 6 Yes | 4 No |
WHAT IS INTERIM BUDGET
a proprieter company purchase a software what is the journal entry in tally ?
In accounting, how do you define the premises?
Dear sir, previosly i worked with hospital there i maintain only accounts only in tally, but now iam change my company to manufacturing unit there they using accounts with inventory there when we open tally i finding more options why?
What is Reserve & Surplus? Plz give me with some Example.
10 Answers Bank Of India, Genpact, iGate,
In tally software Alt+R ,Alt+u is used for?
while we are paying salary what wil be the entry for tds deduction
Goods costing Rs.40000 was lost by fire but 3/4th of the claim was accepted by the insurance company
What do you find most satisfying about this job?
HELLO FRIENDS I WANTED TO THAT IS DUPLICATE KEY MAKING CHARGE IS UNDER THE HEAD OF GENERAL EXPENSES
What is personal account?
Loan & Advances which heading calculated ?