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How Does General Reserve Accounting Work in Corporate Finance?
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…
Accounting
What are Common Mistakes in Recording Assets in Accounting?
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…
How Consolidated Balance Sheet Helps in Group Financial Analysis?
Rarely is a growing business group conducted through just one entity. Indian promoters tend to have a holding company with several subsidiaries for manufacturing, trading, real estate or services. Separate…
Why Do Businesses Follow the Realization Concept in Accounting?
Financial statements must be accurate in reflecting the attitude of true performance. The realization concept in accounting states that revenue is only worth recording when it is actually earned and…
Why is the Debtors Turnover Ratio Important for Businesses?
Credit sales are prevalent in the Indian trading, manufacturing and services sectors. This is where the Debtors Turnover Ratio comes in useful. However, late collections have the potential to disrupt…
How Does a Purchase Credit Journal Entry Affect the Balance Sheet?
A purchase credit journal entry is one of the most common entries recorded in Businesses. Traders, Manufacturers, Retailers, and MSMEs regularly buy goods on credit from suppliers. This transaction is…
What are Common Mistakes in Purchase Order Accounting Entry?
Procurement is a day-to-day business in any Indian business. But Purchase Order Accounting Entry mistakes can silently destroy books of accounts. Traders, manufacturers, retailers as well as MSMEs tend to…
Types of Errors in Accounting Every Business Should Avoid
Accounting wrongs have an impact on cash flow, tax filings and trust with authorities. This blog explains the types of errors in accounting that Indian SME, traders, startups, and professionals…
What are the Limitations of Management Accounting in Cost Control?
Management accounting is involved in providing support to internal decision making and tracking costs. The limitations of management accounting are seen on assumptions failing, reduction in data quality or poor…
Why is Zero Based Budgeting Important for Businesses?
Businesses have been operating in an environment in which costs have been increasing at a higher rate than revenues. The Zero based budgeting fixation provides a different approach. Traditional budgeting…