Electronic Payment Systems Topics covered: i. Types of Electronic Payment Systems ii. Merits of Electronic Payment Systems iii. Demerits of Electronic Payment Systems iv. Regulations Relating to Electronic Payment System in India Electronic Payment Systems Electronic payment systems are central to on-line business process as companies look for ways to serve customers faster […]
Pure Online Vs. Brick and Click Organisations Before studying Pure Online Vs. Brick and Click Organisations, let’s understand what these organisations are and how they operate, with some notable examples. E-commerce organizations can be broadly categorized into pure e-commerce and brick-and-click models: 1. Pure E-Commerce Organisations Pure E-Commerce organizations operate exclusively online, without any […]
Accounting Concepts Features and Implications Accounting concepts are the fundamental principles and guidelines that form the foundation of accounting practices. These concepts ensure consistency, reliability, and accuracy in financial reporting, providing a standardized framework for recording and analyzing financial transactions. By adhering to these concepts, businesses can produce financial statements that are meaningful, comparable, and […]
Accounting Principles Concepts and Conventions Accounting principles are the fundamental rules and guidelines that govern the field of accounting and ensure the consistency, reliability, and comparability of financial statements. These principles provide a framework for accountants to follow when recording, reporting, and analyzing financial transactions. Essential features of Accounting Principles Accounting principles are acceptable when […]
Accounting Process The process of accounting involves a series of steps that help businesses systematically record, classify, summarize, and report financial transactions. This process ensures that the financial information provided is accurate, reliable, and useful for decision-making. Below is a detailed overview of the accounting process: 1. Identifying and Analyzing Transactions The first step in […]
Basis of accounting The basis of accounting refers to the method used to recognize and record financial transactions in the accounting system. There are three main basis of accounting: 1. Cash basis 2. Accrual basis 3. Hybrid or mixed basis 1. Cash basis of accounting Under the cash basis of accounting actual cash receipts and […]
Types of Monetary Policy Monetary policy is a central bank’s actions to control the money supply and interest rates to achieve macroeconomic goals such as controlling inflation, maintaining employment, and achieving economic stability. The two main types of monetary policy are: 1. Contractionary policy 2. Expansionary policy 1. Contractionary policy It aims at reducing the […]
Scope of Accounting The scope of accounting encompasses a wide range of activities and functions designed to record, analyze, summarize, and report financial information. These activities provide valuable insights for decision-making, ensuring compliance with laws and regulations, and supporting organizational goals. Here are the key areas within the scope of accounting: 1. Financial Accounting The […]
Accounting Concepts Meaning, Definitions and Objectives of Accounting Meaning of Accounting Accounting is often called the language of business. It is one of the means of communicating information regarding the affairs of business. As a language of business accounting conveys various information regarding business activities. it communicates the result of business operations to various parties […]
Promotional and Regulatory Role of Central Bank A central bank is a national financial institution that oversees the monetary policy of a country, regulates the banking sector, manages currency issuance, and aims to maintain financial stability. It acts as the principal authority in the financial and banking system of a country, ensuring economic stability […]
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