Accounting

A lot of companies have worked with an outsourcing partner to decrease the number of shortcomings that occur, reduce costs and restructure procedures. These advantages have already made certain impacts on various operational processes of many organizations. Outsourcing was once actually limited to some functions in a business’s supply chain […]

Luca Pacioli and Leonardo DaVinci–Renaissance men–were both mathematical geniuses. Leonardo was more inclined towards military engineering, while Luca towards abstract and pure math. When Pacioli included “Double Entry Bookkeeping” in his textbook, Summa de Aritmetica, which he published in 1494 (two years after Christopher Columbus landed in Santo Domingo), little […]

Looks like Microsoft Great Plains becomes more and more popular, partly because of Microsoft muscles behind it. Now it is targeted to the whole spectrum of horizontal and vertical market clientele. Small companies use Small Business Manager (which is based on the same technology – Great Plains Dexterity dictionary and […]

Managing personal finance is a task that requires care and prudence to ensure that individuals prioritize their budget allocation to daily expenses such as credits bills and routine expenses on one hand and investment portfolio such as stocks, future securities, and retirement plans on the other hand. A good way […]

Matching principle is the foundation of accrual accounting and revenue recognition. According to the principle all expenses incurred in generating the revenue must be deducted from the revenue earned in the same period. This principle allows better evaluation of actual profitability and performance and reduces mismatch between when cost is […]

What is Tally ERP 9? Tally ERP 9 enables you to control numerous financial & business functions with the aid of one software. It has numerous functions that enable smooth integration of business operations. Staff, chartered accountants, business owners, managers and others can view as well as work on data […]

1. Introduction When we look at the literature on virtual organizations, we see that the attention is primarily focused on the virtual organization as a network organization, pointing out the changing nature of organizational boundaries. Network technologies facilitate processes of in- and exclusion of people and resources. Hence, typologies of […]

The reasons for having control accounts are as follows: 1. Check on the accuracy They provide a check on the accuracy of entries made in the personal accounts in the sales ledger and purchase ledger. It is very easy to make a mistake in posting entries, because there might be […]