![]() Our experts suggest the best funds and youĬan get high returns by investing directly or through SIP. Save taxes with ClearTax by investing in tax saving mutual funds (ELSS) online. ClearTaxĬan also help you in getting your business registered for Goods & Services Tax Law. ![]() Our Goods & Services TaxĬourse includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. ![]() Our GST Software helpsĬAs, tax experts & business to manage returns & invoices in an easy manner. Further you can also file TDS returns, generateįorm-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income TaxĬAs, experts and businesses can get GST ready with ClearTax GST software & certification course. You can efile income tax return on your income from salary, house property,Ĭapital gains, business & profession and income from other sources. As an individual, you may use an accountant only for. Just upload your form 16, claim your deductions and Ripple ruling has given both sides a partial victory, but it muddies the contours of cryptocurrency regulation in the US. Accounting is how finances are tracked by an individual or organization, such as a small business. ClearTax serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses acrossĮfiling Income Tax Returns(ITR) is made easy with ClearTax platform. What are the advantages of Accounting?Īccounting plays a key role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions.ĬlearTax offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants In this article, we explain the functions of accounting and the types of work performed by an accountant. Understanding the function of accounting will help you manage and analyze monetary resources. In 1941, The American Institute of Certified Public Accountants (AICPA) had defined accounting as the art of. Assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset). It is anything (tangible or intangible) that can be used to produce positive economic value. The reports generated by various streams of accounting, such as cost accounting and managerial accounting, are invaluable in helping management make informed business decisions. Accounting is the part of a business that is responsible for the company's finances. In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It may be handled by a bookkeeper or an accountant at a small firm, or by sizable finance departments with dozens of employees at larger companies. What is Accounting?Īccounting is one of the key functions for almost any business. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarising a company's operations, financial position, and cash flows. Accountants and bookkeepers are responsible for compiling, measuring, and analyzing accounting records in the form of financial reports or statements for companies. The accounting process includes summarising, analysing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. Accounting is an important function that every business, irrespective of its size, should pay maximum attention to. Information technology accounting refers to the tracking and recording of the operation of a computer network including planning for expected capacity, performing use trend analysis, recording bills, accomplishing audits and allocating costs.Accounting is the process of recording financial transactions pertaining to a business. AAA often requires a server dedicated to providing these three services. ![]() Accounting is also the third “A” in the term authentication, authorization and accounting (AAA) – a system for tracking user activities in an IP-based network and controlling their access to network resources. Business accounting is the systematic recording, analyzing, interpreting and presenting of financial information. ![]()
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