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.

Answer / syed noorullah

accounts is a process of identification of financial
position of business

what are the different types of expenditures considered for the purpose of accounting?

0 Answers  

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what is special purpose ledger in SAP.. is it required to configure in ECC 6.0 since New GL concept is active?

0 Answers   HCL,

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What qualities have you got that would make you a good accountant?

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RPC Ltd. follows the written down value method of depreciating machinery year after year due to (a) Comparability. (b) Convenience. (c) Consistency. (d) All of the above.

1 Answers  

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Tell me how many types of business transactions are there in accounting?

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if I m taking a loan from bank of AED 20 lakhs @ 10.25% per annum for 10 years how much amount as intrest I need to pay in this 10 year period of time to bank.

0 Answers  

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If I give gift to somebody, then how I'll show it in my account

1 Answers  

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what is mean by paidup capital.?

1 Answers  

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what is the difference between debtors & bills recievable?

2 Answers  

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Ramu started business with rs 1000000.give me journal entry. plz explain brefily

4 Answers   Asahi, IBM,

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WHAT IS CRR, REPORATE, REVERSE REPO RATE

1 Answers   FCI,

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Received Invoice from Tvs Co. against purchase of 15 pcs of Mouse @ 750 excluding VAT 4%, Pass journal entry in the necessary books of accounts?

6 Answers  

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