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March 22nd, 2019 in GST Council Meeting

34th GST Council Meeting Key Highlights

The 34th GST Council Meeting was held on March 19th, 2019 in New Delhi. Arun Jaitley, the Finance Minister of India, chaired the council meeting so as to examine and pass previously announced notifications. It was ensured that new schemes or rate cuts are not announced in the meeting. The main topic of discussion for…

March 22nd, 2019 in Finance & Accounts

Journal Entry in Bookkeeping and Accounting

A journal is that part of bookkeeping and accounting which records the financial transactions of a business organization. Bookkeeping starts with a journal and thus its maintenance is of great significance to a business’ accounting.   This article discusses the following topics: What is a Journal? Single-Entry Bookkeeping Double-Entry Bookkeeping Use of Journal in Investment…

March 22nd, 2019 in Business

10 Common Mistakes Made by Small Business Startups

Mistakes are inevitable to any business, including small business startups. True glory lies in identifying the mistakes and making every possible effort to avoid them.   This article discusses the following topics: About Small Business Startups Common Mistakes of Small Business Startups   1. About Small Business Startups Starting a small business startups is not…

March 22nd, 2019 in Finance & Accounts

Introduction to Depreciation

Depreciation is an accounting concept through which businesses calculate the declining values of their assets over time. Depreciation means a fall in the value of assets with time due to use or obsolescence. It is regarded as a non-cash transaction and does not represent real cash flow. The following topics have been covered in this…

March 22nd, 2019 in Finance & Accounts

Types of Activity Ratios with Examples

Activity Ratios or Assets Management Ratio depicts how a company utilizes its assets to generate revenue. In simple words, the activity ratio denotes the ratio between the invested amount in the particular asset type and the revenue generated by such asset. This is the reason why activity ratio is also known as efficiency ratio, turnover…

March 20th, 2019 in Finance & Accounts

Accounting Ratios

Accounting ratio is mathematical representations of two or more data either interrelated or independent to analyze the financial condition of any business. Accounting ratios are determined using accounting information collected from the financial statements. Accounting Ratios are also known as Financial Ratios as these ratios help in determining the financial performance of the business. Different…