2 Ways to Calculate Hours Worked in Accounting

To calculate the hours worked is the part of cost accounting. In cost accounting, we need to calculate labor cost. We also need to calculate it for paying salary and wages and to record it in the books.  If we are paying our laborers on the hour basis, we have to determine hours worked. There are two main ways to calculate hours worked in accounting. One is manual way and second is through using of Excel formula in computer.

Continue reading »

How to Calculate Net Accounts Receivable

Account receivable is the amount which we have to take from our customers when we sell goods to them on credit. When we have sold goods on credit, it is not sure, we will get whole the amount of account receivable because if our customer is not honest or he will become insolvent or he will go underground by consuming our sold goods on credit, it is the chance, our whole or some money of account receivable will become bad debt. So, to calculate the net account receivable on the basis of past behavior of our customers will be helpful for us to use our working capital effectively.

Continue reading »

How to Better Understand Debits and Credits

If you understand the rules of debit and credit, you can better understand debits and credits. Rules will helpful to decide to write one account in the debit side and other account in credit side. This rules rules will also helpful to know, "why any account has been shown in the debit side of any other account and why any account has been shown in the credit side of any other account?"

Continue reading »

Difference between Manual Accounting and Computerized Accounting

Aim of both manual and computerized accounting is to record, classify and summarize the accounting transactions. Both are used for preparing financial statements but the difference in the system. We can write the difference between manual accounting and computerized accounting on the following basis.

Continue reading »

How do Chartered Accountants Earn by Cheating

This article is not to promote the way to earn unethical. But aim of this article is to tell, there are lots of way of cheating, with this, chartered accountants can earn millions of dollar but in the end, they have to go to jail and they have to work of grinding the wheat through hand chakki for 10 to 20 years. Will it be their real value?

Continue reading »

How to Save Time for Studying

Studying and success in the education should be your real target. But when you will study, you may disturb with lots of thinking or other work. So, we are providing you some tips for saving your time for studying. How, you will write it in your notebook.

Continue reading »

History of Accounting Education

The History of Accounting Education began on Jan. 19, 2008 when Vinod Kumar has started to teach accounting to online students through written contents, accounting tutorials and accounting problems' solutions.

Continue reading »

How to Become a Successful Young Entrepreneur

Recently, I got an email from one Indian who is working in any USA Company and who wants to become a successful young entrepreneur. He wants to get direction from me for becoming a successful young entrepreneur. Before, I will unplug my tips for becoming a successful young entrepreneur, I want to show his original email.

Continue reading »

New Amendment in Online Bank Transaction

Today, I have to pay big amount to any party through my online bank account. But, I could not see the transfer link in it. But it is showing to clear payment limit. Actually, RBI has made this new condition. According to this, you must fix your each daily transaction limit. This amendment is for more security in your online bank transactions.

Continue reading »

What is Year to Date

Year to date is total period starting from this year and will be upto this date. It means, there is difference between year to date and accounting year. Accounting year is calender year which starts from 1st April and closes on 31st march. But year to date  may be the period between this calender period.

Continue reading »