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Assets are an essential part of your balance sheet. You can use them to make money or as security when taking out a loan. There
Running a business means handling many tasks. In addition to planning and managing finances, you must focus on taxes and follow the rules. Pay careful
Businesses need strong management to meet their goals. Management works at different levels to organize and run a company’s activities. Management is a social process
A dividend is a part of a company’s profits paid to shareholders. When a company earns and keeps some of it, it can either put
Auditing is checking a business’s financial statements and other records. It’s a careful way to assess the company’s financial health. The person who does this
Managing a company’s finances can be tricky, but the General Ledger Reconciliation helps simplify it. It’s the central record where all financial transactions are logged,
Businesses can be set up in different ways, such as sole proprietorship, partnership, or as a company. Each type has its limitations. As a business
Creating an income and expenditure account is key to understanding how non-trading organizations function financially. This account shows all the money coming in and going
Input tax credit (ITC) is the GST a business pays when buying goods or services for business use. A company can reduce the GST it
An expense is a money used to buy something. This includes daily costs like paying a phone bill and more significant purchases like a company
A drawing account isn’t a bank account. It’s a record that shows how much money the business owner has taken out for personal use. This
Understanding the roles of creditors and debtors in your business is necessary. You might be both a creditor and a debtor, depending on your transactions.
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