An understanding of Nominal and Real Accounts is important to understand how money flows through an accounting system. This article looks at the differences between Nominal and Real accounts the rules governing these types of accounts and how these rules are used to make calculations.
What is an AIS? An AIS is a method through which a business keeps track of its financial information. The related components work together to collect, store, and disseminate financial and accounting data to plan, control, coordinate, analyze, and make…
Maintaining a healthy balance between profession and family is important. What are advantages and disadvantages of a working single mother?
Accounting is the process by which businesses record, organize, and summarize their financial activities for easy evaluation and analysis. The Financial Accounting career path creates jobs related to collating information and preparing reports on the financial status of a company.…
Practise of Issuing Promissory Notes Promissory notes are written agreements regarding borrowed money. It is a promise to pay, and it contains the terms of the agreement in ensuring this happens. Financial institutions, small companies, and individuals can issue a…
Inventory valuation is a crucial aspect of inventory management because it allows you to evaluate the cost of goods sold (COGS) and profitability. This process also helps businesses to ensure they hold the right amount of inventory. Also, it has…
What are the 7 steps in the financial planning process? Do you ever feel like no matter how hard you work or how much you earn, your finances always seem to get the better of you? What simple steps do…
Small business owners need monetary capital to buy machinery, human resources, suppliers and stock. How do they finance a small business?
