Accounting Courses in Chandigarh (1)

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Accounting Courses in Chandigarh
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What are the accounting function?

• The primary purpose of any accounting function is
  that of ongoing financial record keeping.
  Monetary information of all types--operational
  expenses, salaries, donations, capital
  expenditures, investments, cash flow,
  utilities--should be tracked on a monthly basis
  at a minimum.

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What are the golden rules of accounting?

• Debit The Receiver, Credit The Giver - This
  principle is used in the case of personal
  accounts. ... Debit All Expenses And Losses,
  Credit All Incomes And Gains - This rule is
  applied when the account in question is a nominal
  account.

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What is the role of accounting?

• The role of accounting in business is to help
  internal and external stakeholders make better
  business decisions by providing them with
  financial information.

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What are the two main branches of accounting?

• Some popular types or branches of accounting are
  briefly discussed below
• Financial accounting.
• Management accounting.
• Cost accounting.
• Tax accounting.
• Project accounting.
• Not-for-profit accounting.
• International accounting.
• Government accounting.

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What are the advantages of accounting?

• Accounting is known as the language of business,
  and as such it benefits management in many ways.
  Accounting involves recording transactions and
  compiling them in reports. An important advantage
  of accounting information over other types of
  information is that it is based on numbers,
  measurable data.

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