Book-keeping

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 Book-keeping is an art of recording, Classifying, summarizing in a systematic manner of business transactions.

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Preference Shares

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  Preference Shares:-   Preference Shares are those which carry preference over other classes of shares in the payment of dividend and repayment of capital at the time of winding up. Types of preference Shares:-   Preference Shares can be broadly divided into. 1) Redeemable preference Shares. 2)irredeemable preference Shares 3) Cumulative preference Shares 4) Non - Cumulative preference Shares 5) Convertible preference Shares 6) Non - Convertible preference Shares 7) participating preference Shares. 8) Non - participating preference Shares   Redeemable preference Shares:-   These are the shares, the capital of which is refundable after a stipulated period. Irredeemablepreference Shares:- These are the shares, capital of which is not refunded during the life time of the company. Cumulative preference Shares:- These are the shares on which a fixed rat of dividend is paid out of the current or future profits. If in any year, the company doesn't pay the dividend wil...
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Advantages of Accounting

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 1) Innumerable monetary transactions occur in a business organisation. Accounting keeps a systematic record of such transactions.        2) When a business maintains a complete record of its transactions, it has complete information about expenses, losses, incomes and gains, Hence, It can easily ascertain the net profit or net loss for any period.  3) Accounting records will help a concern to know not only it's net profit or net loss but also the exact reasons that has contributed to the profit or loss. 4) when Accounting records are available over a period of time. It can compare the results of its business from year to year and study the progress of business over a period of time. 5) When a business house 🏡 keeps Accounting   records, it has a complete record of what it owns, what it owes and what it has invested. So it can know the true and correct financial position of its business at anytime. 6) Accounting records enable a business concern ...
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Accounting information

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  Persons interested in Accounting Disclosures:-    Accounting is of primary importance to the proprietors and the managers. However, others person's such as creditors, prospective investors, employees, etc. are also interested in the Accounting information. 1) Proprietors:- A business is done with the objective of making profit. It's profitability and financial soundness are, therefore, matters of prime importance to the proprietors who have invested their money 💰 in the business. 2) Managers:- In a sole proprietary business, usually the proprietor is the manager. In case of a partnership business either some or all the partners participate in the management of the business. They therefore, act both as managers as well as owners. In case of joint stock companies, the relationship between ownership and management becomes all the more remote . In most cases the shareholders act merely as rentiers of capital and the management of the company passes in to the hands of profe...
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