One of the main reasons why the Shop and Establishment Act was introduced was to provide perks for the employees who work under various establishments, commercial places, charitable trusts etc. Few records that need to be maintained under…
Irrespective of the business establishment, it is mandatory for all shops, commercial establishments, retail businesses, amusement parks and other profit-making organizations to obtain a Shops and Establishment licence. Whether the business is fully functional or not, the business…
The Ministry of Corporate Affairs has introduced a new scheme called the Companies Fresh Start Scheme 2020. In the last few years many amendments in Companies Act, 2013 and rules made thereunder. This scheme is introduced to enable…
The Government of India is doing its bit to provide relief for all the law-abiding companies and LLPs to reduce the cost of compliance incurred on the companies due to the COVID 19 outbreak. This scheme has modified the…
Most companies are outsourcing their Accounting to reduce the extra burden that is vested on operating the business. In-house accounting is a traditional method of bookkeeping and accounting. Difference between outsourcing and in-house accounting Quality of work An…
Why should I outsource my accounting? It is always better for a professional to carry out a professional’s job. Outsourcing your accounts will help you better focus on business goals and strategies. When you outsource your accounting services,…
What is the accounting cycle? An Accounting cycle provides a guide to record, analyse and provide the final report of a business’s financial activities. This cycle makes business activities and financial accounting easier for business owners. The closing…
The foremost objective of maintaining a books of accounts is to get information about the financial position of the business. Here are a few basic advantages of accounting Maintenance of permanent Business records Basically business will have a…
Accounting refers to the process of keeping financial accounts of the business. Accounting follows a systematic process of summarizing, analysing and reporting these transactions to tax collecting agencies. The types of accounting Financial Accounting This field is concerned…