Basics of Accounting

ACCOUNTING Accounting  is a process of identifying ,recording, summarizing, and reporting economic information to decision makers in the form of financial statements. Features :- Accounting   helps in decision making by showing where  and when money has been spent , by evaluating performance, and by showing the implications of choosing one plan instead of another. Who Uses the Accounting information ? (i)   Individuals (ii)  Businesses (iii) Investors and creditors (iv) Government regulatory agencies (v)  Non- Profit Organizations (vi) Taxing authorities  How and where they use accounting information? .  Investors, Creditors, Regulators, customer and competitors are the external users.  . Owners, managers and employees are the internal users. Accounting Period An accounting period is a span of time covered by a set of financial statements. This period defines the time range over which business tr...

Hey everyone, This is Priya Shrivastava and Akanksha Srivastava. As you all know everyone is suffering from this very hard time, the pandemic Corona Virus. But let's not loose hope "This Shall Too Pass" I hope you all are safe.  Stay home and stay safe.  So, we just thought to utilize this time and thought to make our blog.  Actually we were thinking it since many years but couldn't able to find appropriate time to make this because we both are pursuing PGDM (Post Graduation in Diploma Management) from JK Business School,Gurgaon.  Our blog is also Especially for the students who are very keen of accounting. So by reading this,you can learn basics of accounting. At last we will also give solution for the important question it will definitely help you in your paper. So what we will generally cover in our blog are :- 1. Basics of Accounting 2. Financial Accounting 3. Accounting for 12th 4. Solution for the important question. ( 12th standard) So, Those...