ACCOUNTING EXPERTISE

 A            *****ACCOUNTING***** Hi freinds.,           Today's discuss what to learnt in accounting ?     1. Accounting principles.     2. Basic accounting concepts.     3. Accounting terminologies.     4. Accounting exercise and prectices.     5. Modern accounting trends.     6. Importance and benefits of accounting. So let's discuss 1st topic in learning section of accounting..     1. Accounting principles :-  Accounting principles are the rules and benchmarks in field, co. Should follow while reporting financial statements. Common set of accounting standards U.S. based is GAAP (Generally accepted accounting principles).  Total 13 principles of accounting let's discuss one by one.     1. Economic entity :-  In accounting, an economic entity is one of the assumptions made in generally accepted accounting principles. Almost any ty...

A.              *****ACCOUNTING***** Hi freinds.,                Today discuss 5th or final fields in accounting.      * FINANCE :-                 the money you need to start or support a business, etc.               Finance is the management of money, particularly in relation to companies, organisations, or governments. Specifically, it deals with the questions of how and why an individual, company or government acquires the money needed - called capital in the company context - and how they spend or invest that money.   For eg:-  Finance is defined as to provide money or credit for something. An example of finance is a bank loaning someone money to purchase a house.        #Father of finance:-                        Dr. Eug...

  A.           *****ACCOUNTING***** Hi freinds.,                Today discuss 3rd and 4th fields in accounting.      * Communication -                     the act of sharing or exchanging information, ideas or feelings.                    Communication is simply the act of transferring information from one place, person or group to another. Every communication involves (at least) one sender, a message and a recipient. ... These include our emotions, the cultural situation, the medium used to communicate, and even our location.         * Best definition of communication :-                        The best defination of communication is - “communication is the process of passing information and understanding from one pe...

      A          *****ACCOUNTING ***** Hi freinds.,                Today discuss 2nd fields in accounting.   * Analysis and forecasting   :-          1.  Analysis :- the examination of the different parts or details of something.                Analysis is the process of breaking a complex topic or substance into smaller parts in order to gain a better understanding of it. The technique has been applied in the study of mathematics and logic since before Aristotle (384–322 B.C.), though analysis as a formal concept is a relatively recent development.        *Purpose  of analysis :-                         A systematic examination and evaluation of data or information, by breaking it into its component parts to uncover their interrelatio...

                        *** ACCOUNTING *** Hi freinds.,           Today's discuss top five fields in accounting. Fields in accounting:-     * Mathematics     * Analysis and forecasting     * Communication     * Computer and IT     * Finance     --------------------------------------------------------  so let's clear 1st fields of accounting...   *   Mathematics :-                     Mathematics is the science that deals with the logic of shape, quantity and arrangement. Math is all around us, in everything we do. It is the building block for everything in our daily lives, including mobile devices, architecture (ancient and modern), art, money, engineering, and even sports.       Who invented mathematics ?  Ans:- Beginning in the 6th century BC with t...

            **** ACCOUNTING **** Definition :-                      ACCOUNTING is an art of recording all transactions of business and knowing the result of carrying out the business activity. ** HISTORICAL PERSPECTIVE OF ACCOUNTING :-                Historians claim that accounting was introduced thousands of years ago using clay tokens to keep records of crops and -livestock. ** MODERN PERSPECTIVE OF ACCOUNTING:-                     Is the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are,in part at least, of financial character,and interpreting the results thereof.'- American Institute of Certified Public Accountants  ( AICPA ) Definition. By income tax act book:-          https://www.amazon.in/gp/pr...