Strategic changes and firm performance
This report intends to provide an overview of Telstra Corporation Limited and conduct analysis of the several aspects of the financial statements of the company.
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This report intends to provide an overview of Telstra Corporation Limited and conduct analysis of the several aspects of the financial statements of the company.
With the increasing awareness among the public concerning the environmental related issues, business organizations are finding it essential to implement certain measures.Download
The purpose of this reflective learning journal is to record and analyse your experiences of learning business accounting as both a process and a product.Download
Accounting is a system by which financial information is identified, recorded, analysed, summarized, and reported for the use of decision makers.Download
Taxation is an act, process or means by which the sovereign (independent state) through its lawmaking body (legislative branch of the government) makes demand for revenue.Download
Every government imposes taxes on its people either directly or indirectly. These taxes are in the form of levies such as income, estate taxes, and capital gains.Download
Madhubani Painting is still practiced in Bihar and the people of the state aspire to conserve this unique art form.Download
The study concerned the effect of accounting software on cost management in accounts department.Download
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Accounting, referred to as "the language of business," is the process of keeping track of a company's financial activities and assisting businesses by maintaining accurate financial records. Accounting is one of the key aspects of almost any business. Accounting keeps track of income and expenses, ensures statutory compliance, and provides quantitative financial information to investors, management, and the government for use in making business decisions. The main concern of accounting is monetary resources, in particular.
Liabilities such as sales tax, VAT, income tax, and pension funds, to name a few, will be addressed appropriately by the accounting function. Accountants are responsible for recording a company's daily transactions and incorporating them into financial statements such as the balance sheet, income statement, and cash flow statement.
Financial accounting is a systematic way of recording transactions of any company according to accounting principles. The main goal of financial accounting is to calculate a company's profit or loss over a given period and provide a clear image of the company's financial position as on a particular date. A company's Trial Balances, Profit & Loss Accounts, and Balance Sheets are all based on financial accounting principles.
Cost Accounting: Cost accounting is concerned with determining the cost of a product or service offered. It evaluates the cost by taking into account all of the factors that contribute to the output production, including manufacturing and administrative costs. The goal of cost accounting is to assist management in fixing prices and controlling the cost of production.
Tax Accounting: Tax accounting is concerned with tax matters. Tax accounting includes the methods and policies used to prepare tax returns and other statements required for tax compliance, hence it provides frameworks and guidelines for calculating taxable profit. Tax accounting is a branch of accounting concerned with the preparation of tax returns and payments.. Its responsibilities include preparing and filing various tax returns, as well as dealing with their legal implications. There are various forms of Taxes,such as:
Income tax: Income tax is a type of tax imposed on all individuals who earn money through work or business. According to accounting assignment help experts, the rate of taxes is determined by the amount of income reported, with lower income groups being excluded from paying income tax. Individuals and businesses are needed to document annual income and pay a predetermined tax rate under this system of taxation.
Value Added Tax (VAT): VAT, or Value Added Tax, is a sort of tax levied by the government on the sale of products and services to customers. Value-added tax is a type of taxation that is based on consumption instead of income.It is imposed on a product at every step along the supply chain
Excise Tax: An excise tax is a statutory tax imposed at the point of sale on specified goods or services such as fuel, tobacco, and alcohol. Excise tax is a type of indirect tax that is passed on to the customer at the time of sale.
Property Tax: Property tax is a type of tax levied on property owned by a person or a legal body such as a business. Property owners must also pay property taxes on an annual basis. House taxes, like road taxes, pay to support repairs and upgrades to facilities inside those communities. Parks, gardens, residential roads, public lights, and many more facilities require weekly and annual maintenance. Property taxes are used to fund the upkeep of public infrastructure and services.
Road Tax: It is a charge collected from major highways and road users, sometimes known as toll tax. Route tax rates are determined by the distance travelled, the number of cars on the road, and the frequency of use. The rate and frequency at which road tax is collected are also influenced by repairs, improvements, and upgrades.
Inheritance or Estate Taxes: This type of tax is imposed on people who inherit huge amounts of money. The inheritance is divided into divisions that cater to different income levels and categories. The value of an inheritance has a direct impact on the tax rate. Before taxes are levied, inheritance tax considers the individual's status, age, and income.
Auditing: Auditing is one of the most important branches of accounting. It is the process of reviewing, examining, verifying, and evaluating a company's financial accounts and internal control system. There are two types of auditing in accounting and business: external auditing and internal auditing.
External Auditing: In this type of auditing an organisation seeks the services of independent and/or third-party individuals and/or organisations to conduct an assessment or review of the entity. The external auditors verify conformity with laws and regulations and assist the organisation in auditing its financial position
Internal Auditing: Internal audits look into the internal operations of a company, such as corporate governance and accounting methods.. These audits verify that rules and regulations are followed, and that financial reporting and data collecting are accurate and up to date.
Managerial Accounting: Managerial accounting focuses on improving a company's administration, increasing profits, and providing financial reports to management that influence planning and budgeting. Budgeting and forecasting, cost analysis, financial analysis, and reviewing previous business decisions are all examples of managerial accounting.Fiduciary Accounting: Fiduciary accounting involves recording transactions related to a trust or estate entity and issuing periodic reports on the entity's status. Fiduciary accounting is the details of all of the executor's or trustee's receipts and disbursements, accurately dividing all transactions between principal and income. Fund Accounting: Fund accounting is a method of accounting used by non-profit organisations to track the amount of money allocated for various purposes and the usage of that cash. Fund accounting focuses on accountability rather than profit. Many charitable organizations such as NGOs or Human Welfare organisations are included in this branch of accounting.Forensic Accounting: Forensic accounting involves accounting and investigation approaches to detect the nature of financial fraud. Accounting, auditing, and investigative skills are used in forensic accounting to examine an individual's or business's finances. A forensic accountant's primary role is to examine financial data in order to identify money laundering, fraud, and other crimes.
Accounting entails recording all types of financial data about business transactions and gives an in-depth knowledge of a company's day-to-day operations. Accounting is one of the most difficult disciplines to master because it needs exceptional abilities and understanding. Most candidates find it very difficult to complete their accounting assignments. Accounting case studies and assignments are difficult and time-consuming due to their difficulty level and lengthy book balancing requirements. Students must have a clear understanding of all theoretical concepts as well as the ability to perform mathematical calculations and statistics in order to write accounting assignments that will earn them good grades. For this reason, it is important to provide students with ideas to help in accounting assignments. It is also crucial to provide help on how to obtain accounting assignment help from qualified experts. We provide accounting assignment help to university and college students so that they can complete their assignments and coursework with ease. Our accounting experts can help you with your accounting assignment and provide you with an A+ grade. As a result, we recommend that students use our accounting assistance services to complete their accounting assignments correctly.
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The Golden Rules of Accounting are used to record economic transactions in ledgers. The laws are founded on three types of accounts: personal, actual, and nominal. Accounting’s golden rules are based on the type of accounts, which are of three categories-
a) Personal Account- Personal accounts are the accounts that include transactions with persons or other entities with whom your company has direct dealings. Customers, vendors, employee wage accounts, owner drawings and capital accounts, and so on are all examples of personal accounts.
b) Real Account- According to basic accounting principles, real accounts are those accounts that are linked to the company's assets.
c) Nominal Account- Nominal Accounts are accounts related and associated with losses, expenses, income, or gains.
The three golden rules of accounting are:
Ⅰ. Debit the Receiver, Credit the Giver - This theory is applied in case of personal accounts. With personal accounts, the rule of debiting the receiver and crediting the giver applies. Debit the account if you receive something. Credit the account if you give something.
Ⅱ. Debit What Comes In, Credit What Goes Out- This theory is applicable in case of real accounts. Permanent accounts are another term for real accounts that don't close at the end of the year. Their balances are moved forward to the next financial year. Machines, land, and buildings,etc. are included in real accounts which have a debit balance by default. As a result, the incoming debit increases the current account balance. In the same way, crediting what goes out diminishes the account balance
Ⅲ. Debit All Expenses And Losses, Credit All Incomes And Gains- This theory is applicable when the account in question is a nominal account. Nominal accounts, also referred to as temporary accounts, are closed at the end of each accounting period. Revenue, expense, and gain and loss accounts are examples of temporary or nominal accounts. In the case of nominal accounts, if your business incurs an expense or loses money, debit the account. Whereas credit the account, if your company needs to record income or gain.
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