Every computer system has the following three basic components: 1. Input unit 2. Central processing unit 3. Output unit While there are other components as well, these three are primarily responsible for making a computer function. They must work in complete synergy because that will ensure smooth overall functioning. Hence, we can even call them… Read More »
A file manager or file browser is a computer program that provides a user interface to manage files and folders. The most common operations performed on files or groups of files include creating, opening (e.g., viewing, playing, editing, or printing), renaming, copying, moving, deleting, and searching for files, as well as modifying file attributes, properties,… Read More »
Unit-1. Introduction Types of Accounts Golden Rules of Accounting Accounting Principal Accounting Concepts and Conventions Double Entry System of Book Keeping Mode of Accounting Financial Statements Accounting Transactions Recording Transactions Unit-2. Fundamentals of TallyPrime Getting Functional with Tally Prime Creation/Setting up of Company in Tally Prime Unit-3. Golden Rules of Accounting Ledger Creation Non-Trading Account… Read More »
What is an Account? The account is nothing but an outline of the transactions undertaken by the business in respect of persons, their representatives, and things. For instance, when a business enters into transactions with suppliers or customers, both suppliers and customers act as separate accounts. Similarly, businesses purchasing tangible items like the plant, machinery,… Read More »
Debit The Receiver, Credit The Giver This principle is used in the case of personal accounts. When a person gives something to the organization, it becomes an inflow and therefore the person must be credited in the books of accounts. The converse of this is also true, which is why the receiver needs to be… Read More »
Introduction to accounting principles Accounting is an integral part of every business regardless of business size. With modern-day business requirements, business and accounting are simply inseparable. By recording all the financial transactions, accounting helps in determining the financial performance of the business by preparing financial statements. These financial statements are used by both internal stakeholders as… Read More »
In drawing up accounting statements, whether they are external “financial accounts” or internally-focused “management accounts”, a clear objective has to be that the accounts fairly reflect the true “substance” of the business and the results of its operation. The theory of accounting has, therefore, developed the concept of a “true and fair view”. The true… Read More »