In today’s economy, where everything is digital, following the rules is not just about keeping physical records of money. New Income Tax Rules 2026 mean companies have to think about…
Precise financial reporting is very important for businesses. It helps understand their true financial position. Many expenses are incurred before they are actually paid. Failing to record them can distort…
Revenue is not necessarily billed on the same date that it is earned. This is a common situation for businesses which follow accrual accounting. The Unbilled revenue accounting entry insures…
Understanding profit is fundamental to the financial health of a business. Two measures of significance used in conducting financial analysis are accounting and economic profit. These concepts help businesses to…
A Credit Sales Journal Entry is one of the most common entry of accounting in Indian businesses. It is used to record a sale in which payment is not received…
A Sales Journal Entry is a journal entry that comes with the sale of a good or service for the books of accounts. It determines the kind of accounts that…
Returns are a part of normal business activity. Every return has to be duly recorded in the form of Sales Return Journal Entry. Products may be damaged, defective, wrongly supplied…
The Accounts Payable Turnover Ratio is one of the most useful financial indicators for Indian businesses. It reveals the speed of payment of a company to its suppliers in a…
Corporate profits do not always go straight to dividends or spending on expansion. This is where general reserve accounting plays an important part. A part is often kept within the…
Accurate recording of assets in accounting is very important for any business in India. Assets represent resources owned by a business which are used to create an economic benefit in…
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