Accounts Tutors for Business Training in Visakhapatnam

Collection of money against sale of products or services, ex. Revenue of government is Collection of taxes, School is taking fee from students. Revenue is blood for a business to counter its expenses. After meeting all expenses rest is Profit or .... ...loss,if expenses r more than received.

Amount required for day to day operations of a business is working capital. and is equal to current assets minus current liabillities

Opinion without and prejuidice and fullfilling all concepts and assumptions

There are many user friendly softwares are available. However it depends upon size of company and reporting requirements. You can find Quickbook, tally, sage, peachtree for small and medium company and Oracle and SAP for large companies. 

Balance sheet is a statement of financial position. This includes Non current assets, Current assets, Equity, Non current liabilities and current liabilities. Total Assets should equal to total equity plus total liabilities.

Accounting standards are mandatory for companies so that financial statements are comparable with other companies.

DEPRECIATION IS THE REDUCTION IN THE VALUE OF ASSETS.THERE ARE SOME TYPES OF DEPRECIATION SUCH AS, STRAIGHTLINE/FIXED INSTALMENT METHOD/ORIGINAL VALUE METHOD, REDUCING /WRITTEN DOWN VALUE METHOD,INSURANCE POLICY METHOD,ANNUITY METHOD ETC.ETC. 

Partitioning in accounting means the division/subdivision/grouping /regrouping of financial transactions in various heads in a financial year.

FAIR VALUE OF ACCOUNTING IS THE VALUE WHERE BOTH THE SELLER AND BUYER BENEFIT FROM THE TRANSACTIONS.FOR EXAMPLE.IF THE SELLER SELLS A HOUSE FOR RS.50LACS THEREBY GAINING A PROFIT OF RS.5LACS AND THE PURCHASER PURCHASE IT  AND RESELL THE SAME AT RS.60LACS THEN HE  GAINS TO THE EXTENT OF RS.10LACS.IN ACCOUNTING THE SELLER WILL DEBIT BANK A/C FOR RS.50 LACS CREDIT PROFIT AND LOSS A/C FOR RS 5LACS AND CREDIT BUILDING A/C FOR RS.45LACS.SIMILARLY THE PURCHASE WILL DEBIT BUILDING A/C WITH RS.50LACS AND CREDIT BANK A/C WITH RS.50 LACS.AT THE TIME OF PURCHASE AND DEBIT BANK A/C WITH RS.60LACS CREDIT PROFI AND LOSS A/C WITH RS.10LACS AND CREDIT BUILDING A/C WITH RS.50LACS AT THE TIME OF SALE.

TRADE BILLS ARE INVOICES RAISED BY ONE TRADER TO ANOTHER TRADER FOR PURCHASE  AND SALE OF GOODS  AND SERVICES.IT IS DONE BETWEEN  BUSINESSMEN AND OTHER BUSINESSMEN.