Accounting

Generally Accepted Accounting Principles (GAAP) Meaning, Defintions, Key Principles, Financial Reporting Frameworks, Applications  and Importance of GAAP   Generally Accepted Accounting Principles (GAAP) refer to a set of accounting rules and standards used to guide financial reporting and ensure consistency, transparency, and accuracy in financial statements. These principles provide a framework for preparing and presenting […]

Role of Accounting in Business Accounting plays a multifaceted and critical role in business operations. Its functions extend beyond just recording financial transactions; it supports strategic decision-making, regulatory compliance, and operational efficiency.  It plays a crucial role in the functioning and success of businesses by providing essential financial information and insights that help in decision-making […]

Branches of Accounting Purpose, Key Activities and Importance of Different Branches of Accounting     The economic development and technological advancements have resulted in an increase in the scale of operations and the advent of the company form of business organisation. This has made the management function more and more complex and increased the importance […]

General Meetings of a Company General meetings are crucial events in the governance of a company. They provide a platform for shareholders and management to discuss the company’s performance, future strategies, and other important matters. In general, there are three kinds of meetings of the company: 1. Statutory meeting 2. Annual general meeting 3. Extraordinary […]

Valuation of Shares   Meaning of Valuation of Shares  The valuation of shares refers to the process of determining the worth or value of a company’s stock. This involves estimating how much a share should be worth based on various factors and methodologies. The goal is to provide an objective measure that can help investors, […]

Accounting Notes for BBA / MBA and B.Com / M.Com Students Welcome to the Accounting notes page! This section is dedicated to helping you grasp the fundamental principles of accounting, a cornerstone of financial management and business operations. Accounting is often described as the language of business. It involves the process of recording, classifying, summarizing, […]

Valuation of Goodwill   Meaning of Goodwill A firm’s reputation is generally assessed by goodwill. Despite its popular usage in business activities, its value is not yet properly understood in accounting language. However, it is considered as an invaluable asset- intangible in nature. But it is not a fictitious asset. In simple words, a business […]

What are Debentures? Meaning, Definitions, Features, Types, Advantages and Disadvantages of Debentures   Meaning of Debentures If a company needs funds for extension and development purpose without increasing its share capital, it can borrow from the general public by issuing certificates for a fixed period of time and at a fixed rate of interest. Such […]