Introduction to Accounting:

Accounting is a discipline of collecting, summarizing, analyzing and reporting the monetary terms, information about business. It is the language of business in the form of financial statements. Such language should be communicated and understood by the concerned parties of the business. Accounting is built on by few basic concepts and principles. It follows certain fundamental rules, principles and assumptions. Such principles and assumption must be followed by the accountants which are called as universally accepted or Generally Accepted Accounting Principles (GAAP). GAAP may be defined as those rules of action which are derived from experience...

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Accounting Concept:

Accounting concepts:Accounting concepts are basic assumption of accounting. It is like foundation on which the structure of accounting is built. Some popular accounting concepts are as follows: Business Entity ConceptGoing Concern ConceptMoney Measurement Concept Accounting Period ConceptAccounting Principles:Accounting principles are broad rules, law adopted by the accounting professionals as guides for use in recording and reporting business transaction. Some of them are as follows: Cost principleMatching principle Realization principle Consistency principle Dual aspect principle Objectivity principleAccounting process:Accounting process is...

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Scholars view regarding Accounting

According to American Institute of Certified Public Accountants,"Accounting is the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are in part at least of a financial character and interpreting the results there of."In the words of Smith Ashburne,"Accounting is the science of recording and classifying business transactions and events, primilarily of a financial character and the act of making significant summaries, analysis and interpretations of those transactions and events and communicating the results to persons who must make decisions or firm judgements."From the above definations, it can be concluded that accounting is recording of business transaction which can be express in monetary term, reporting results of...

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Accounting System

Accounting is the acitivities of collecting, recording, classifying, summarizing, analyzing and reporting the events anf transactions of business and interpreting their results as well. Accounting relates only on financial or monetary transactions. It doesn't records any non-financial or monetary transactions such as conflict between labor and manageme...

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Want To Learn Fact Accounting

User Guide Key FeaturesFACT Accounting for Windows provides you a huge number of facilities to make Data Entry and Analysis easier than ever.Online UpdateNo Validation Routine needs to be run. No Update required. Nor do you need to do Postings manually. Validations are carried ........................No Duplicate EntriesThere are no duplications at all. When you enter.....................Real-time Computing PowerFACT Accounting for Windows brings to you Real Time Computing Power. You can print all your Source Documents (like, Vouchers, Purchase ....................Great SpeedFACT Accounting for Windows is the fastest .....................Multi-CurrencyFACT...

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TALLY

Introduction:The Security of Data, Financial or otherwise, has always been a matter of concern. Most businesses depend on the confidentiality of information. Tally Vault is an enhanced security system which allows for encryption of the company data with the most secure method of encryption being used. Tally Vault ensures that under no circumstances, the original information is available in any form. The technique could be likened to "encryption-decryption-on-the-fly", and the decrypted form of data is never stored in the system. Apart from this, it uses the "non-stored password" mechanism. By using highly advanced mechanisms to validate a new user without any prior knowledge of the original password. The combination of these facilities means, that Tally Vault becomes one of the most secure...

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"Want To Learn FACT Accounting"

User Guide Key FeaturesFACT Accounting for Windows provides you a huge number of facilities to make Data Entry and Analysis easier than ever.Online UpdateNo Validation Routine needs to be run. No Update required. Nor do you need to do Postings manually. Validations are carried out at the time of data entry itself. And, all Updates and Postings are carried out instantaneously as soon as you enter the Document.No Duplicate EntriesThere are no duplications at all. When you enter a Sale invoice, the Accounts Receivable, Inventory and General Ledger are all, automatically, updated, right through to the Profit & Loss and Balance Sheet.Real-time Computing PowerFACT Accounting for Windows brings to you Real Time Computing Power. You can print all your Source Documents (like, Vouchers, Purchase...

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Need Accounting Software:

Are you worry about Accounting Software, if yes,Here you go...........Fact AccountingTally (Full version with crack)AccordFinproMasproTataExMicrosoft Money 2004 and many mor...

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Brief Discription of Accounting Cycle:

1. Identification of Financial Transactions:Accounting is concerned with only monetary transactions. Therefore, accountants need to identify and assemble financial transactions at first. There should be some evidence like invoice, vouchers, bills etc. associated with each transaction for its validity.2. Journalizing and Recording in Subsidiary Books:This is the second step of accounting process. After identifying financial transactions, they are recorded in journal vouchers. Some special and repetitive transactions are sub-divided into subsidiary books as like sales books, purchase books, sales return books, cash books etc. It is performed on...

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Introduction to Accounting:

Accounting is a discipline of collecting, summarizing, analyzing and reporting the monetary terms, information about business. It is the language of business in the form of financial statements. Such language should be communicated and understood by the concerned parties of the business. Accounting is built on by few basic concepts and principles. It follows certain fundamental rules, principles and assumptions. Such principles and assumption must be followed by the accountants which are called as universally accepted or Generally Accepted Accounting Principles (GAAP). GAAP may be defined as those rules of action which are derived from experience and practice and when they prove useful, they become accepted as principles of accounting. Generally Accepted Accounting Principles requires the...

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Accounting System

Accounting system is the system in which all the transaction relating to account is kept in a systematic manner. The simple systematic manner may be posting in day book. After that posting in journal voucher, ledger and sub-ledger, preparation of trial balance, preparation of profit/ loss account or income / expenditure account and finally preparation of final statement.The development of accounting system took many years and many generation to this state. In previous generation, accounting concept was very limited but now a days it is too broad. In the development and requirement of actual accounting and financial position, people think to develop new concept of recording business transactions. Hence Single Entry Book-keeping was develop. Due to the limitation of single book-keeping system,...

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