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What is the accounts? How to maintain accounts? What is the format of accounts?

What is the Meaning and Format of Final Statements?

During interview for the post of accountant most of person face a question what is the meaning and format of final statements? In this article will share you exact answer of this question.  Financial statements are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to understand. Read More

Definition of Accounting Equation

Hello friends, we know very well what is the importance of accounts in our business. There are most important role of Accounting Equation in the business from which you can easily calculate total assets of your business. So, today we talk about the Concept of Basic Accounting Equations. Accounting equation shows the balance of a company’s resources. Accounting equations is the most basic principle of financial accounting.
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Depreciation Rate Chart on Fixed Assets of Income Tax Act

Dear Friends, today we have to discuss about the depreciation rate chart which is calculated on the fixed assets as per the income tax act. You know very well about the “Depreciation”. Depreciation is the amount which is deducted from the fixed assets annual on a specified percentage. So, today we talk about what is the percentage is used on different fixed assets as per the given Depreciation chart as per Income Tax Act for FY 2012-13.
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