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Accounting Verification by Trial Balance

June 28, 2014

Subsidiary Accounting Books

June 27, 2014

Accounting Sub Journals - Cash Book

June 27, 2014

Accounting Ledger

June 26, 2014

Basic Book of Accounting - Journal

June 25, 2014

Principles of Accounting Explained

June 25, 2014

Explanation of important Accounting terms

June 24, 2014

Financial Accounting with Double Entry Bookkeeping

June 24, 2014

Introduction to Basic Accounting Principles

June 24, 2014

Banking Transactions & Bank Reconciliation...

July 6, 2014

HiTech Accounting Software Suite for Various...

February 11, 2017

HiTech Accounting Software Customer and Vendor...

February 11, 2017

Newspaper Accounting Software - Latest Ver. Feb...

February 9, 2017

HiTech Petrol Pump Accounting, Billing Software -...

February 9, 2017

Full Screen Resizable Windows of HiTech...

February 9, 2017

Getting Started with HiTech Accounting Software

February 9, 2017

HiTech Accounting and Billing Software Latest...

February 9, 2017

HiTech Financial Accounting Software

February 9, 2017

Accounting ERP Software Videos

February 27, 2015

Software for Hotel

February 27, 2015

HiTech Hospital Manager

February 27, 2015

Open Source ERP / Accounting Software for Various...

January 9, 2015

Open Source ERP software for Hotel Management

January 9, 2015

Open source ERP for Newspaper Publishers

March 12, 2015

Open Source ERP for Industries

March 11, 2015

Open Source Petrol Pump Management Software

January 14, 2015

Open Source ERP Software for Hospital Management

January 12, 2015

Reserves and Provisions

August 15, 2014

Capital and Revenue

August 15, 2014

Non Profit Organization Accounting

August 15, 2014

Single Entry Bookkeeping Accounting System

August 15, 2014

Balance Sheet and Profit and Loss Account

July 20, 2014

Free Trial Download Links for Open Source ERP...

January 17, 2015

 

Anil Kumar Gupta

EzineArticles.com Expert Author

Joined EzineArticles on May 9, 2007
44 Published Articles:


Expert Author Anil Kumar Gupta

Articles Published

God Where Are You in This Universe?

Sep 29, 2010
The God exists in inter-particle space in the atom; the God lives in you and me; the God heads high in the mountains and flows mightily in the rivers and the ocean. The God is in inter-planetary space, inter-stellar space and inter-galactic space. The God is in the universe anywhere and everywhere. The God is all powerful and all pervasive. The God only shows up when the matter of creation of the God has come to standstill; when the toy of the God has stopped dancing and run out of energy. Then the God is there to savior all to hold that immensely large black ball of matter in the infinite space while the black ball of universe is getting hotter and hotter; the God rekindles the fire to give a new life to all.

How to Turn the Stock Market Into an ATM Machine

Sep 29, 2010

Has the stock market beast become un-tamable for you? When you try to ride the wave of share market index does the market trend go against you? Learn how to earn upto 1-10% return (Yearly return of 200% to 2000%) on your margin money everyday and learn how to ride the wave of share market index. Learn how to tame the stock market beast to give you daily profits like Aladdin's Chirag (Lamp)! Beat the fear of making loss. Always profit irrespective of the trend in the market.

Did You Know the Following Facts About the Stock Market?

Sep 29, 2010

On Indian Stock Markets 100's of shares are actively traded each day. These shares move either in profit direction or in the direction of the Loss. Remember, both trends of the Nifty 40 or Share Market Index are profitable. You can always earn irrespective of whether the market goes up or down. The cutting edge is into buying or selling the share at the right time so that you can profit in the shortest possible duration.
Sep 24, 2010
The God is a perfect artisan. Wisdom of God is incomprehensible. Humans have no right to define the God in the context of the universe or to debate whether the God created the universe or not.

Rectification Of Accounting Errors

Jun 21, 2007

Every businessman is interested in finding out the true profit and correct financial position of his business at the close of the trading period. The effort of the accountant is to prepare the final accounts in such a fashion which exhibits true picture of the business. Accounts are considered to be authentic proof of true financial position of a concern. But in spite of best efforts there are certain transactions which are omitted to be recorded or entered wrongly in the books. Such errors affect the final accounts. An accountant should, therefore, try to locate such errors and rectify them before the preparation of final accounts.

Balance Sheet and Profit and Loss Account

Jun 21, 2007

While introducing the subject of accounting to the readers in the beginning it was stated that one of the main objectives of financial accounting is to provide information about the profits earned or loss suffered by the business during a particular period.
Jun 21, 2007
Balance sheet is a statement of financial position of a concern at a given date. It shows the financial position of a concern at a given date of accounting period, because the situation may be entirely different on the following day and indeed, might have been quite different a day earlier.

Trading and Profit and Loss Account

Jun 21, 2007

t is the summary of such accounts which effect the profit or loss of the concern. These are prepared by transferring from the trial balance all nominal accounts and accounts relating to goods by means of journal entries called 'closing entries'. All remaining accounts i.e. real and personal, relating to properties, assets, debtors and creditors are shown in the balance sheet. In order to know the overall picture of the effect of these accounts they are grouped at one place. Items' increasing profit (revenue) are put on one side (credit) and those decreasing profits (losses and expenses) on the other side (debit). The balance is either net profit or net loss. This income statement is normally divided into two parts - first part is called trading account and second part is called profit and loss account. The procedure for preparing various accounts is discussed in details in this article.

Preparation of Profit and Loss Account

Jun 21, 2007

As already stated profit and loss account is commenced with gross profit or gross loss as ascertained by trading account. Then the profit and loss account is debited with all indirect expenses and losses. This results in closing of indirect expenses and losses account. The profit and loss account is then credited with various incomes and gains accounts by which all these accounts are closed.
 
Jun 21, 2007
The object of preparing final accounts is to find out the profits earned or losses suffered during a particular accounting period and to present the true picture of final position of the firm. While drawing the final accounts we have taken only those items of income and expenditure that are both earned and received and incurred and paid respectively.

Single Entry Bookkeeping Accounting System

21, 2007

Under the double entry system of book-keeping, both aspects of every transaction are recorded, i.e. one on the debit side and the other on the credit side. Under the single entry system of bookkeeping, both aspects of every transaction are not recorded in the books of accounts. Under this system, the personal accounts of the debtors and creditors are maintained.

Non Profit Organization Accounting

Jun 21, 2007

Its aim may not be profit-making, yet it cannot avoid account keeping. It must maintain proper accounts of its receipts, payments, incomes and expenses, because those who have donated money to such institution must know that their money is being used properly and fruitfully. So, profit or no profit accounting is a must. Its sole object is to do good to the society or members through welfare activities. Such institutions are clubs, societies, schools, colleges, hospitals and libraries etc.

Steps To Prepare Income And Expenditure Account

Jun 21, 2007

In the absence of the trial balance, the income and expenditure account will be prepared on the basis of the receipts and payments account.

Capital and Revenue

Jun 21, 2007

One of the objects of accounting is to determine whether the business has earned profit or it has suffered loss. For this purpose, profit and loss account is prepared. Total expenditure incurred by the business is divided in two categories: One portion is charged against revenue while the other is shown in the balance sheet as asset. The former is known as revenue expenditure and the latter as capital expenditure. While preparing the final accounts, all revenue items are included in the revenue account i.e., manufacturing, trading and profit and loss account and all capital items in the balance sheet. Any error committed in distinguishing between 'Capital' and 'Revenue' will affect the ascertainment of profit.
 
Jun 21, 2007
According to Paton and Littleon, "Revenue is the product of the entity which refers to the goods and services created during a specific time span by an enterprise."
 
Jun 21, 2007
Every prudently and systematically managed business concern makes some provision out of current profits for meeting an anticipated liability, redeeming a liability, replacing an asset or for some other important business purpose.
 
Jun 21, 2007
A trader considers it to be prudent to reduce intentionally, the amount available for distribution as profit and to set aside the amount thus, saved for some worthwhile business purpose. should be noted in this connection.
 
Jun 21, 2007
Profit set aside and used in the business is a reserve. But profit set aside and invested outside the business is a reserve fund. Thus, the use of the term 'fund' indicates investment of reserve outside the business.
 
Jun 21, 2007
It has been defined as "any reserve which is not apparent on the face of the balance sheet". It is sometimes called "hidden reserve", or 'internal reserve' or 'inner reserve.' This reserve represents the surplus of assets over liabilities and capital. It does not appear in the ledger. The creation of secret reserves strengthens the financial position of the concern. Its financial position would be better than what it would appear on the face of the balance sheet. Secret reserve is created usually by joint stock companies especially banking, insurance and financial concerns.
 
 Jun 02, 2007
Ledger is the most important book of accounting. It contains summarized, classified description of all the business transactions. It is divided into various parts and each part is termed as 'account'. It is necessary to gather at one place all transactions, during the period, relating to a particular subject-a person, a thing, a class of expenses, incomes etc. It is only then that the net results can be ascertained.
 
Jun 02, 2007
Balancing the account necessarily validates the mathematical accuracy of the posting of accounts by ensuring that any amount posted on debit side is also reflected by same amount on credit side. The ledger basically keeps the record of these debit and credit entries which are created by equal amount. If each entry is balanced this way any account in ledger will reflect a correct amount as debit or credit.
 
Jun 02, 2007
Journal and Ledger both are prime book of entries and journal is the first step of writing the transactions and ledger is posting of the entries of journal or transactions. Double entry aspect of accounting entries ensures that each account in ledger reflects correct transactions for the account. In ledger each account has listing of transactions that affected the account being listed. Amount is mentioned against each/part of transaction.
 
Jun 02, 2007
Cash book is most important accounting book of entry as transactions relating to cash are recorded here. The balance of cash needs to ascertained every day to tally it with the available cash in hand. For large enterprises, though, it may not be possible until next day to find out the cash transactions for the previous day as entries can be made at a later stage also until the day is closed.
 
Jun 02, 2007
Cash book may have various formats as required by the details of the transactions to be posted. A different format is used for all above three types of cash book as discussed here.
 
Jun 02, 2007
The various norms followed in Posting and Balancing the cash books are discussed here. A business may like to get more information from the cash book, such as the receipts from different heads of income and payments on different accounts. Analysis of various aspects of cash transaction is important to know real profitability of the business.
 
Jun 02, 2007
A business may like to get more information from the cash book, such as the receipts from different heads of income and payments on .different accounts. In this case book may be split into two parts, one for receipts-Cash Receipts Book and another for payments-Cash Payments Book.
 
 
Jun 02, 2007
The concept of 'dual aspect' is one of the fundamentals to the accounting theory. The 'dual aspect' concept lays down that every transaction has two-sided effect to the extent of same amount. Trial Balance ascertains the accuracy of accounts by comparing debits with credits.
 
 Jun 02, 2007
No method is ever perfect and sometimes shortcomings are inherent to the system and have to be accepted along with the various advantages. Trial balance method or report of accounting accuracy is also not fool proof to human errors.
 
Jun 02, 2007
Trial balance, if credit side total equals the debit side total, is a preliminary evidence of the accuracy of accounts. However, errors of posting excluding typing/writing errors for manual accounting can also result in wrong trial balance. Trial balance aids in locating the errors in accounts.
 
Jun 02, 2007
Going to bank is mostly an happy experience as mostly it is for taking out the cash! However today's banking has moved online and with automated teller machines the banks have become more accessible and reliable. This article discusses various concepts and terms related with basic banking. The online banking accounts may differ considerably from this traditional method of operation of the banks.
 
Jun 02, 2007
The bank provides the customer with the statement of account or passbook. It has details of all transactions with the bank for ready reference. Rules for bank pass book posting are generalized here.
 
Jun 02, 2007
Bank Reconciliation Statement is prepared to check the accuracy of the statement provided by the bank or bank pass book against the various bank account entries posted in ledger. Amount and nature of each transaction raleted with bank is tallied to make sure that the actual bank account and the ledger bank account are in perfect agreement.
 
Jun 02, 2007
Depreciation the permanent decrease in the value of an asset due to use and/or the lapse of time. It is treated as a business expenditure. It is very necessary to include depreciation as machinery etc. does not remain same after use and if its value remains same the accounting accuracy and profit and loss calculation shall be affected resulting in inflated profits.
 
Jun 02, 2007
In this article depreciation is explained in details. It is discussed how we can find out the depreciation for a special type of business or industry.
 
May 30, 2007
Certain fundamental accounting principles and assumptions underlie the preparation and presentation of financial statements. There are namely, (a) Going concern, (b) Consistency and (c) Accrual. They are usually not specifically stated because their acceptance and use are assumed.
 
May 30, 2007
Accounting Conventions - The term convention means 'established usage.' Conventions are based on practicability and usage. For example, the relationship of 12 units forming a dozen is a convention. Accounting Concept - Denotes logical consideration and a notion which is generally and widely accepted. The term is not used in the sense of a set of hard and fast rules but rather of rules of general application which provide guide in selection of accounting methods appropriate in particular circumstances.
 
May 30, 2007
According to Rowland: "The basic book of accounting is called Journal. Precisely it is the book of prime entry which means - Day Book. Trader records his total daily transactions in it. The process of recording the transaction into journal is called 'Journalizing'.
 
May 30, 2007
There are many classifications of accounts. The accounts are treated as per their class at the time of posting of entries in Ledger. A set of hints may be used to post Journal. Lastly in this articles the advantages of Journal, a basic book of accounting, are discussed.
 
 May 24, 2007
The following information about a business is very vital, namely, the total earnings during the period, the expenditure during the period on salaries, wages, lighting, insurance, rates and taxes etc, the profit or loss, the capital and causes of its increase or decrease, Nature and value of assets possessed by the business, Nature and amount of liabilities, Customers who owe to the business and the amount in each case, Suppliers to whom the business has to make payments and the amount in each case and Other facts for filing sales tax or income tax returns. The above describes in nutshell the purpose of bookkeeping and financial accounting.
 
May 24, 2007
The necessity and importance of accounting can be explained by requirement of knowing that how much we have earned this year, how much was earned during the last year, is our business improving, how much cash do we have, how much money we owe, how much others owe to us?
 
 
May 24, 2007
Accounting systems have evolved into different branches as per the requirements of use in trade, business, commerce and industry. While accounting systems have countless benefits and advantages to the business the financial accounting system may not truly portray the exact situation of the business due to many shortcomings.
May 24, 2007
The objectives of an accountant are to know the following - What type of expenditure firms should commit? Amount of funds committed by the firm on various projects? What sources should be used to raise the funds for a particular project? Ways and means of getting maximum benefit out of the use of funds? Method and time of repayment of funds borrowed? Of course, the decision on the above-mentioned problems is taken in the light of management policy and objectives of the enterprise.
 
May 24, 2007
One of the main objectives of financial accounting is to ascertain whether the business operations have been profitable or not. Accounting enables us to find out whether a business has earned profits or suffered losses during the accounting period.
 
May 16, 2007
Financial Accounting of bookkeeping is one of very old and basic business method. By way of accounting only a business know whether the activities are profitable or not. With the increasing use of computers in all walks of life accounting system have grown into enterprise resources management systems that not only address to accounting needs of the enterprise but give a complete picture of all other methods and branches of the business. Computers have greatly improved the traditional accounting methods and practices.
Featured Articles by:
Anil Kumar Gupta (CEO) HiTech Computer Services
 
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Press Releases Related to HiTech Computer Services

2007-10-17   PRLog

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2007-10-17 1888PressRelease - HiTech Makes Hot New Release Of Totally Free, Features Packed Financial Accounting Software - Quick Financial Accounting. A Software That Everyone Can Download And Use Freely, No Registration.

Hitech Computer Services Featured
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October, 2007 @ 1888PressRelease.com

2007-10-17 PRZoom - "HiTech Computer Services Releases Packed Financial Accounting Software" article
was approved by PRZOOM Team! on 10/17/2007
http://www.przoom.com/news/24900/ (Business)
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2007-10-17   Free-Press-Release.com - HiTech makes hot new release of totally free, features packed Financial Accounting Software.
http://www.free-press-release.com/news/200710/1192604317.html

 
2007-10-11   PRLog
2007-10-11  Pressbox.co.uk - Download of Financial Accounting Software suite has been made easier
 
2007-10-10   free-press-release.com - Download the evaluation version of HiTech Finacial Accounting Software now without any hassles.
http://www.free-press-release.com/news/200710/1192024110.html
Evaluation version of HiTech Financial Accounting Software are made available for download.
 
 
2007-05-16 PRLog - Press Release   
2007-05-09 Pressbox
 
2007-05-09 (PRZoom)
HiTech Computer Releases Enhanced Barcode and VAT Enabled Version of its Accounting Software Suite.
http://www.przoom.com/news/17822/ (Business)
http://www.newswiretoday.com/news/17822/
 
 
 
 

Single Entry Bookkeeping Accounting System

Adjustments of Final Accounts

Balance Sheet and Profit and Loss Account

Jun 21, 2007

While introducing the subject of accounting to the readers in the beginning it was stated that one of the main objectives of financial accounting is to provide information about the profits earned or loss suffered by the business during a particular period.

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Druggist Accounting Software, Drug Store Software, Medicine Dealer Software, Accounting Software, freeware trading and Web applications for Various Business Segments. Billing, Invoicing, Inventory Control and Accounting Software for Medicine Dealers, Stockists, Medical Stores. Modules :Customers, Suppliers, Products, Sales, Purchase, Accounts & Utilities. Free Trial Download.


A Web based Accounting Package designed to meet the requirements of small and medium sized business. This web based software is extremely handy in automating the routine accounting tasks
A Web based Accounting Package designed to meet the requirements of small and medium sized business. This web based software is extremely handy in automating the routine accounting tasks  



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Samples of Foreign / Native Languages Display and Printing

HiTech Software work with English version of Windows OS including Windows 10/8/7/2000/XP. You can get the software customized for printing or displaying any other Windows or UTF code supported foreign or native language. Please see samples below for your language. If your language sample can not be seen below please ask us to check its UTF-8 (8 bit Unicode Transformation Format) compatibility.
We create custom software for foreign language invoice printing. Contact us for details.

हामी विदेशी भाषा चलानी मुद्रण लागि अनुकूल सफ्टवेयर सिर्जना गर्नुहोस्। विवरण लागि हामीलाई सम्पर्क गर्नुहोस्।

Ons skep persoonlike sagteware vir die druk van vreemde taal faktuur. Kontak ons ​​vir meer inligting. نخلق برامج مخصصة للغة أجنبية طباعة الفاتورة. اتصل بنا للحصول على التفاصيل.
Tunaunda programu ya desturi kwa uchapishaji wa ankara ya lugha ya kigeni. Wasiliana nasi kwa maelezo. ما نرم افزار سفارشی برای چاپ فاکتور خارجی زبان را ایجاد می کنیم. برای اطلاعات بیشتر با ما تماس بگیرید.
Urang nyieun software custom pikeun basa asing percetakan invoice. Contact us keur rinci. हम विदेशी भाषा चालान छपाई के लिए कस्टम सॉफ्टवेयर बनाते हैं। विवरण के लिए हमसे संपर्क करें।
Mun kirkiro al'ada software ga kasashen waje harshen daftari bugu. Saduwa da mu ga cikakken bayani. અમે વિદેશી ભાષા ઇન્વોઇસ પ્રિન્ટીંગ માટે વૈવિધ્યપૂર્ણ સોફ્ટવેર બનાવો. વિગતો માટે અમારો સંપર્ક કરો
A ṣẹda aṣa software fun ajeji ede risiti titẹ sita. Kan si wa fun awọn alaye. ਅਸੀਂ ਵਿਦੇਸ਼ੀ ਭਾਸ਼ਾ ਇਨਵੌਇਸ ਪ੍ਰਿੰਟਿੰਗ ਲਈ ਕਸਟਮ ਸੌਫਟਵੇਅਰ ਬਣਾਉਂਦੇ ਹਾਂ. ਵੇਰਵੇ ਲਈ ਸਾਡੇ ਨਾਲ ਸੰਪਰਕ ਕਰੋ
Anyị mepụtara omenala software maka asụsụ ala ọzọ akwụkwọ ọnụahịa obibi akwụkwọ. Kpọtụrụ anyị maka nkọwa. आम्ही विदेशी भाषा चलन मुद्रणसाठी सानुकूल सॉफ्टवेअर तयार करतो. तपशीलासाठी आमच्याशी संपर्क साधा.
Мы создаем специальное программное обеспечение для печати счетов на иностранных языках. Свяжитесь с нами для получения более подробной информации. আমরা বিদেশী ভাষা চালনা মুদ্রণ জন্য কাস্টম সফ্টওয়্যার তৈরি। বিস্তারিত জানার জন্য আমাদের সাথে যোগাযোগ করুন।
Nous créons un logiciel personnalisé pour l'impression de facture en langue étrangère. Contactez-nous pour plus de détails. اسان ڌارين ٻوليء جي انوائس پرنٽ ڪرڻ لاء ڪسٽم سافٽويئر ٺاهيون ٿا. اسان جي تفصيل جي تفصيل لاء.
Creamos software de encargo para la impresión de la factura del idioma extranjero. Contáctenos para más detalles. موږ د بهرنیو ژبې انوګو چاپ لپاره د ګمرک کمپیوټر جوړ کړو. د معلوماتو لپاره موږ سره اړیکه ونیسئ.
Wir erstellen eine kundenspezifische Software für den Fremdsprachenrechnungsdruck. Kontaktieren Sie uns für Details.   మేము విదేశీ భాష ఇన్వాయిస్ ముద్రణ కోసం అనుకూల సాఫ్ట్వేర్ను రూపొందిస్తాము. వివరాల కోసం మమ్మల్ని సంప్రదించండి.
Δημιουργούμε προσαρμοσμένο λογισμικό για εκτύπωση τιμολογίων σε ξένη γλώσσα. Επικοινωνήστε μαζί μας για λεπτομέρειες. ವಿದೇಶಿ ಭಾಷೆ ಇನ್ವಾಯ್ಸ್ ಮುದ್ರಣಕ್ಕಾಗಿ ನಾವು ಕಸ್ಟಮ್ ಸಾಫ್ಟ್ವೇರ್ ಅನ್ನು ರಚಿಸುತ್ತೇವೆ. ವಿವರಗಳಿಗಾಗಿ ಸಂಪರ್ಕಿಸಿ.
ہم غیر ملکی زبان انوائس پرنٹنگ کے لئے اپنی مرضی کے مطابق سافٹ ویئر تیار کرتے ہیں. تفصیلات کے لئے ہم سے رابطہ کریں. நாங்கள் வெளிநாட்டு மொழி விலைப்பட்டியல் அச்சிடுவதற்கு தனித்துவ மென்பொருளை உருவாக்குகிறோம். விவரங்களை அறியவும்.
私たちは、外国語の請求書印刷のためのカスタムソフトウェアを作成します。詳細はお問い合わせください。   Nos mos partum linguam alienam cautionem software for printing. Details tellus venenatis.
אנו יוצרים תוכנה מותאמת אישית עבור הדפסה חשבונית בשפה זרה. צור קשר לקבלת פרטים.   Yabancı dil fatura baskısı için özel yazılımlar hazırlıyoruz. Ayrıntılar için bizimle iletişime geçin.
我们为外语发票打印创建定制软件。联系我们了解详情。 우리는 외국어 송장 인쇄용 맞춤 소프트웨어를 제작합니다. 자세한 내용은 당사에 문의하십시오.
 





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