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What is trade bills
shoukath
- Jul 21st, 2008
Either should be cash Invoice or Credit invoice which is belongs to Business is called Trade bill.
rama krishna
- Jul 16th, 2007
Every transaction must be supported by any document. A trade bill is a supporting document of business activities like purchases , sales, receipts, payments etc...
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What is operative accounts ?
veerabhadrudu_sripati
- Jun 12th, 2009
An operative accounts means?an account for day-to-day operations of the business.
SONIA AGARWAL
- Feb 6th, 2007
Operative account means Account which is operate by the owner of the A/c regularly.
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What the functions of manger -accounts and manager-finance.explain in detail.
The person who has been in the mid career level as asst.mgr ,taking care of various function and porfolios of accounts department and expert knowledge in accounting concepts is said to be ab manager -accounts generally in manufacturing organisaton.where as latter head for finance organisation and has been in flied with excellent knowledge and concepts of gap,etc.
dg83384
- Jan 20th, 2010
Recording: This is the basic function of accounting. It is essentially concerned with not only ensuring that all business transactions of financial character are in fact recorded but also that they ar...
kemal ahmed endeshaw
- Aug 23rd, 2007
when we see their difference from broad organizational reviewthe function of accounts manager1. the approval of the accounting system utilization and calculated amounts in supportable documents ,for e...
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Accounts Payable
What is the difference between (1) accounts payable and bills payable and (2) accounts receivable and bills receivable
subbop
- Jul 27th, 2011
Account payable refers to the debts to be paid off within a given period of time to the creditors and whereas bills payable is the money a bank borrows, mainly on short term basis and owes to other ba...
anilrawatnokia
- Sep 15th, 2010
1. Accounts payable are amounts due to vendors in the normal course of business, such as for rent and utilities, supplies, and the like. A note payable represents a loan which bears interest, usually ...
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What is retail banking
Joyeusenini
- Mar 13th, 2009
Retail banking refers to banking in which banks undergo transactions directly with consumers, rather than corporations or other banks. ...
vasudeo007
- Aug 26th, 2008
Banking is informally bifurcated into 2: whole sale and retail.wholesale banking means the lending in bigger volume to fewer borrowers.While retail banking means lending in smaller quantity to large n...
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What is meant by balancing
vasudeo007
- Aug 26th, 2008
The balancing, in strict sense, means tallying both the sides of any account and carrying forward balancing figure.In double entry book keeping system the books are supposed to tally automatically. Bu...
Monisha Rajendran
- Aug 22nd, 2006
Balancing in simple terms mean balancing your Debit and Credit side of any account be it Trading ac, Profit&Loss ac etc.
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Accounting Manager - Interview Questions.
Tell me about a time you identified a problem and came up with the solution?What did you do?Describe a typical day at your current employer?Describe a project that required a high amount of energy over an extended period of time?What did you do to keep enthusiasm up?What are your daily challenges?How do you overcome those challenges?What's been the most difficult obstacle you have ever overcome?What...
vasudeo007
- Aug 31st, 2008
Friend,The questions you have posted are quite common questions and are no way related to accounts manager as such.Anyway, Accounts manager is the person who looks after all books of accounts, ledgers...
SONIA AGARWAL
- Feb 12th, 2007
Accounting Manager means, a person who is maintain the detail of record of a particular Assets, liabilities, owner's equity, revenue, or expenses.
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Computer accounting over Paper accounting advantages
What are the advantages of Computer accounting over Paper accounting?
vasudeo007
- Aug 31st, 2008
There are more than thinkable advantages of computers for accounting purposes.First: For management accounting purpose, or for that matter if you are running a company, you need to know exactly whethe...
anirudhsanthanam
- Jul 22nd, 2007
Since accounts are prepared throu computers frauds cannot be commited easilyand also with the help of tally u can easily pass journal entry and also finalisation of accounts
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Ordinary shares and Preference shares
What is the difference between ordinary shares and Preference share?
vasudeo007
- Oct 12th, 2008
Ordinary shares better knows as Equity shares have following characteritics:a. They can participate in Annual General Meeting and voteb. They do not have any fixed rate of return (dividend)c. Th...
vinodkumarsmay1979
- Sep 25th, 2007
Preference shares have the preference over ordinary shares when it comes to dividend and repayment of capital
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Provisions and Reserves
What is the difference between a Provisions and Reserves?
Mir Raashid
- Jun 5th, 2013
Provisions: provisions are made for meeting known liabilities..e.g.,provision for doubtful debts ,provision for depreciation e.t.c..
1. It is charged against profits .
2. provisions are compulsory ,whether there are profits or loss.
3. it cannot be used for distributing dividends.rajesh.GOPI
- Dec 25th, 2007
PROVISIONS: These are made aganist charge. Provision are made if there is profit or not for company.ex: Bad debts, income tax.RESERVES These are made on profits. Generally every has kept minium 10% as reserves.
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Minority Interest
What is minority interest?
vasudeo007
- Oct 12th, 2008
Minority means lower than 50%.Minority interest means the amount invested by minority.Generally minority interest is never calculated. It is calculated only when one company takes other company over. ...
cashflow
- Jan 27th, 2008
Minority interest in business is an accounting concept that refers to ownership of a company (subsidiary) that is less than 50% of outstanding shares.
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Amortization
What is Amortization?
sulabhkapoor
- Feb 3rd, 2010
1. The paying off of debt in regular installments over a period of time. 2. The deduction of capital expenses over a specific period of time (usually over the asset's life). More specifically...
vasudeo007
- Aug 19th, 2008
Amortisation is a concept very similar to depreciation.In case of depreciation, it is charged to assets marking reduction in their value.In case of loans the repayment means amortisation.In case of ce...
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Reserves
What is meant by reserves?
vasudeo007
- Aug 18th, 2008
The word reserves is always used along with Surpluses.Surplus means any trading/business surplus in any financial year. While reserve means money kept aside for specific purpose.Example: General Resev...
Pavan Kumar
- Nov 21st, 2007
Reserve is nothing but money kepting a side for future expenses/payments i.e. unknown expenses.
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Trail Balance preparation
Why do we prepare Trail Balance?
steadyshot23
- Mar 18th, 2010
Trial Balance is prepared in order to see if Debits=Credits. If Debits=Credits then you proceed to prepare an income statement. Then prepare a balance sheet. Plain and simple.
sathyapidugu
- Oct 8th, 2008
In Accounts Perspective: Trail balance will be prepared to know the Arthamatic Accuracy of all the accounts with in a given period normally yearly basis.This statment consist of heads belongs to ...
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Liabilities are on left side and Assets on right side in Balance Sheet
Why always Liabilities are on left side and Assets on right side in Balance Sheet?
Ankit Jain
- Jul 9th, 2014
Liabilities side of balance sheet deals with how the funds are raised whereas the assets side of balance sheet deals with how the funds are invested. Firstly the funds are raised (by incurring liabili...
steadyshot23
- Mar 18th, 2010
The accounting equation is Assets= Liabilities + Stockholders EquityAs you can see the assets are on the left and Liabilities are on the right. On the Balance sheet Assets are reported first and Liablities and Stockholders Equity after.
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