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…

If you’re venturing into starting a new business, you’re most likely to hear the terms accounting. Accounting can be a difficult task and a stressful task, especially for start-ups. What is accounting? The process of keeping a record…

A Partnership firm gets registered under section 58 of the Indian Partnership Act 1932 and it is done through the Registrar of Firms. A business entity that is controlled by an association of people is defined as a…

Monthly and Annual Compliances for a Partnership firm Partnership firms are required to maintain compliances like other corporate firms. A partnership firm needs to file an income tax return with the Income Tax Department each year. The annual…

Difference between registered partnership firm and Unregistered partnership firm In the terms of the Act Indian Partnership Act 1932, the minimal and basic criteria to start your business is to execute the Partnership deed. A partnership firm is…

Benefits of a Partnership Firm A partnership firm is a business entity that is controlled by an association of people with the sole purpose of making profits. In a partnership firm, the partners share the liability of profit…