Search results
Results From The WOW.Com Content Network
Internal Audit, testing of budget estimate, sending it to the department and to ensure that all material purchasing done in the department are in accordance with the financial rules. [4] In every department an Accounts Section has been established whose in-charge is the Senior Finance and Accounting Services officer appointed in that department.
Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. [3]
Desi Namu system uses months and year of Vikram Samvat which comprises the twelve-month period from Kartik to Aso. Even in this system, the dates according to English calendar are written. (According to Income Tax Law in India, all accounts must be closed annually on 31 March.
The Johor branch office of Federation of Malaysian Manufacturers.. A branch office is an outlet of a company or, more generally, an organization that – unlike a subsidiary – does not constitute a separate legal entity, while being physically separated from the organization's main office. [1]
The accounting equation (Assets = Liabilities + Owners' Equity) and financial statements are the main topics of financial accounting. The trial balance, which is usually prepared using the double-entry accounting system, forms the basis for preparing the financial statements.
The service can be divided into officers looking after accounting and audit issues pertaining to the Union government and the state governments, and those manning the department's headquarters. The state accounts and audit offices are headed by Accountants General or Principal Accountants General.
Given the above, one view of the progression of the accounting and finance career path is that financial accounting is a stepping stone to management accounting. [16] Consistent with the notion of value creation, management accountants help drive the success of the business while strict financial accounting is more of a compliance and ...
Compliance with accounting standards issued by ICAI has become a statutory requirement with the notification of Companies (Accounting Standards) Rules, 2006 by the Government of India. [53] Before the constitution of the National Advisory Committee on Accounting Standards ( NACAS ), the institute was the sole accounting standard setter in India.