We are giving the brief idea in case of GST in respect of import and export of goods as under:- IMPORT AND INPUT TAX CREDIT All the Importers/Exporters have to mandatorily declare GST Registration number (GSTIN) along with Import Export Code (IEC) in the bills of entry, Shipping bills and Courier forms. Provisional IDs issued […]
Basic Functions of Accounting
Basic Functions of Accounting: Functions of Accounting involves the creation of financial records of business transactions, flows of finance, the process of creating wealth in an organization, and the financial position of a business at a particular moment in time. The progress & reputation of any business big or […]
Difference between Bookkeeping and Accounting
Difference between Bookkeeping and Accounting Most of the people are confused that bookkeeping and Accounting are the alternative terms. These are related terms but not alternative at all. The “Book” means the “books of Accounts” and “keeping” means maintaining them in proper form and order. Hence the book-keeping is mainly concerned with the recording […]
What is Financial Accounting
What is Financial Accounting? Financial Accounting is very common now-a-day, but people did not know actually what financial accounting is, below we try to explain ” what is a financial accounting ” in clear and easy way. Financial Accounting: Financial accounting is the art or science of recording, classifying and summarizing the business transaction in […]