Introduction To realize the overall objective of the organisation a complete study is done with respect to the firm on the human resource and material resources and how they can be well organized. This principle has acquired its importance due to the increasing complexity among the firms and potential growth and contribution of automatic computers. This principle implies that every manager of the firm should be crisp and precise with

Financial Statement- Building Cash Flow Statement Cash flow statement is a financial statement which reflects the inflow and outflow of cash and cash equivalents from the business during an accounting period. It helps in showing detailed picture of changes in the balance sheet and income statements so incurred due to the entering and leaving a company. It shows how the company manages its cash position by using it effectively in

Financial Reports- Understanding Income Statement Profit & Loss account also known by the name of Income Statement, summarizes the overall expenditures, revenues, net profit and loss incurred during the accounting period be it monthly, quarterly or yearly. It reveals the profit and losses so generated during the period by carrying on its operations significantly. These type of statements are prepared and presented using the method of cash system of accounting

Financial Reports- Preparation of Balance Sheet A balance sheet gives on the overview of one’s financial position of the company, sole proprietorship, private limited corporate or other government organizations. It helps in defining the position of assets, liabilities and equity of an organization at the end of financial year. Basically a balance sheet is prepared at the end of set period of time be it quarterly, annually or monthly. With

How can we differentiate Finance from Accounting? Are these two terms similar ? People consider both these concepts similar but this is not the case as both of the terms are interlinked up to some extent but both of these concepts at time of applicability requires different skills and professional personnel to deal with. Let’s discuss these concepts to clear ambiguity that exist in our mind with respect to these

MIND MAPPING-AN INNOVATION ENABLER A Mind Map is a way of brainstorming thoughts naturally without worrying about layout and order. It allows us to graphically structure our ideas which helps in analysis and recall. A Mind Map is a diagrammatic representation of tasks, concepts, or items which are linked to each other and are arranged around a central concept or subject using a non-linear graphical layout that allows the user