Finance

History and how concept of accounting developed?

History and how concept of accounting developed

Accounting has a remarkable heritage. The history of accounting is as old as civilization. The seeds of accounting were most likely first sown in Babylonia and Egypt around 4000 B.C. who recorded transactions of payment of wages and taxes on clay tablets. Historical evidence reveals that Egyptians used some form of accounting for their treasuries where gold and other valuables …

What is a Contract Note in Share trading?

Contract Note is a confirmation of trades done on a particular day on behalf of the client by a trading member. It imposes a legally enforceable relationship between the client and the trading member with respect to purchase/sale and settlement of trades. It also helps to settle disputes/claims between the investor and the trading member. It is a prerequisite for …

Why do companies need to issue shares to the public?

Stock Markets are an important financial hub in the modern world. Thousands of companies are established through stock exchanges. But why companies issue shares and use the stock market to raise money. Most companies are usually started privately by their promoter(s). However, the promoters’ capital and the borrowings from banks and financial institutions may not be sufficient for setting up …

Golden Rules of Accounting

Accounts is all about understanding the Golden rules. From a journal entry the process of accounting starts and for this, it is basic necessary to understand the golden which is a handy formula for you. The rule is as follows: 1.Personal            Debit – The receiver            Credit – The giver 2. Real           Debit – What comes in           …

Some Basic Accounting Terms

One need to grasp the following common expressions always used in business accounting. Transaction: It means an event or a business activity which involves exchange of money or money’s worth between parties. Goods/Services: These are tangible article or commodity in which a business deals. These articles or commodities are either bought and sold or produced and sold. Profit: The excess …