Best food for learning of Accounting

Learning and eating of food have mutual relationship. For learning of any subject, good memory is very important. With good memory, it is also required good
physical and mental health of students for learning. So that student’s interest and power of learning develops. Main aim of writing this article is to guide students of commerce and who are studying any subject about quality of food and its effect on their health.
Even a student is from USA, Europe, and Africa or from Asia, for learning of accounting, it is very necessary to have high level logical reasoning and rational brain to grasp and sustain the deepness of this subject. But question is arise, how to get this type brain. Answer is simple from best food and balanced diet .

For students and for learning of accounting, the following foods are the best foods :-

• Milk of Cow
• Half – ground grain
• Salads
• Fruits
  
  It is my personal experience of 20 years that if above food is eaten by students in their daily diet their mental and physical power will surely grow. And this can be used for solving every type of accounting problems.

There are following benefits of above best food:-

1. A normal student must study accounting for 4 to 5 hours daily but, you know that its effect is on our two eyes because of continue reading and studying. It is possibility of weaknesses of light of eyes. For stability the capability of eyes, eating of green vegetables are very useful.
2. Because of seating large time on chairs and not to hardwork with body, students can suffer the problem of constipation, but if they drink cow’s milk they can save this problem on one side and increase of memory other side.
3. It is general opinion of great doctors of World that cow’s milk has such power which increase human memory, if a student drinks one glass of cow’s milk, he can increase his memory double from normal memory. Accounting is also very large bundle of scientific formulae which used in business and for becoming good accountant, students must learn with heart. So, high memory can get from cow’s milk only.
4. If you eat the mixture of milk and half ground grain by boiling it, then you can save many problems stomach. Because, it is digested fastly and student can feel soft which is good for study.
5. If a student eats small amount of salads of Radish and Carrot and Tomatoes, then he can increase his blood which will be helpful for doing any homework fastly.
   

Dear students of this world!

I am also teaching you that following food is worst food not only for you but whole human being, so, you should not to eat them:

1. Eating of meat, chicken and eggs are very harmful for students’ health because they are not digested by human intestine. After not digesting, this food becomes poison and students can capture in different diseases.
2. India’s great students like Shri Ram Chandra , Hanuman ji , Bhim , Shri Krishna and Abhimanu are fully vegetarians and they have high brain , they are kings of this nation and they operated whole India’s kingdom with peace and prosperity . We also have to get education and walk on their direction so that we can also become healthy and brilliant like them.
3. World health organization’s prof. Noyalvalt has written in 1999,” There are three main factors of power. One is carbohydrate, second proteins and third fat which is easily digested by our body, but all above things in meat is not digested by human body so never eat them.
4. Eating of meat and eggs is also source of dangerous diseases like cancer and hart attack. So, student should be prohibited them.
5. According to health deptt. Of Florida America,” After eighteen months research, it has been established that 30% of eggs contain DDT (Poison)
6. Student also never drinks tea because tea reduces memory.

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Type text in your own language on Google for business and finance search

If you do not know English well but want to get updated knowledge of business and finance from Google in your own language .


This quick tutorial will be helpful to type your own language words phonetically in English script and Google’s translation bookmarkets automatically change English words in your own language and you can easily gets all search in your own language .

Ist step

For enable this facility Go to Google’s transliteration bookmarkets

2nd step

Choose your own language by click any of following bookmarket.
You can install transliteration bookmarkets of

• Arabic bookmarklet
• Hindi bookmarklet
• Kannada bookmarkle
• tMalayalam bookmarklet
• Tamil bookmarklet
• Telugu bookmarklet
  

3rd step

After clicking any of above link of your own language, you have
You have follow the next steps which is given under the google’s code website which are very easy . Suppose if you want to write all things in English and want to convert in hindi automatically . Then you have just add as favorite by right click the code of hindi code and it will add as favorite in your c drive . After this you can use this code for your own benefits .

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Tutorial of calculating value of per share with in 15 second

In my first video which I have uploaded in flickr Site , you can watch following tutorial for learning how to calculate value of per share updated in stock market
with in 15 second . For this , I have used Google finance formula in Google docs . Watch and learn quick this demo



I hope after watching demo , you can calculate the market price and capital values of company by yourself .

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Accounting Standards in India – Simple Explanation - Part third (AS 9 to AS 12 )

Accounting Standard 9 ( AS 9 )

Revenue recognition

Accounting standard of India explains the concept of revenue deeply. When goods are sold or services rendered. At this time it is deemed that money is earned by enterprise. There is also revenue from interest, royalty and dividend. Revenue recognition standard comprises different earning relating to advertising and other services projects when these are completed by professionals. But this standard also provides guidance about revenue recognition in following cases.

• If stock is sold on approval basis then, revenue is generated only when the buyer gives the approval.
• In case of agency business revenue will be recognized when risk of ownership also transferred under consignment.
  

Accounting Standard 10 (AS 10 )

(Accounting of fixed assets)

Accounting standard 10 of ICAI helps professional accountants for proper accounting treatment of fixed assets.

Determination of cost of fixed assets

Assets purchase value + all cost to bring the fixed assets to plant.

New extension of fixed assets

Any new extensions are capital nature expenditure and it will include in the total value of respective fixed assets.

Goodwill is also treated as fixed asset in balance sheet if the amount is for this paid. In fixed assets, Enterprise will also include the amount of know how and patents.

Accounting standard 11 ( AS 11 )

Effect of changes of foreign exchange rates

There are two main reasons for providing effect of changes of foreign exchange rates on accounting.

1. When goods are sold or buy in price which is dominated in foreign currency.
2. When enterprise is doing any foreign operations.

Calculate the value of foreign exchange profit or loss

It is very simple when any transaction is done, this date is called closing date and we can calculate foreign exchange profit or loss on the basis of exchange rate. If it is rated to purchasing or selling related profit from foreign exchange currency. Then it will show as capital reserve. Otherwise it is revenue earning and it will transfer to profit and loss account.

Accounting standard 12 (AS 12)

(Accounting treatment of Govt. grants)

The Govt. grant means any benefit given by govt. in the form of subsidy, reduction in duty and taxes and other non monetary help . Accounting standard accepts two way for providing accounting treatment of govt. grants. If it is received by any special enterprise.

First way


To show as capital earning and include it in the value of shareholder fund in liability side of balance sheet and also shown in bank in current assets side .


2nd Way

Transfer all govt. grants to the credit side of profit and loss account

Related: Accounting Standards in India – Simple Explanation - Part one (AS 1 to AS 4 )
Accounting Standards in India - Simple explanation ( AS 5 to AS 8 ) Part second

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No Import of Images into tally but only import master and vouchers

Q : Once we purchase an item we used to scan it and keep it in a folder month-wise. Now is it possible to import these images into tally so that when I am viewing a voucher entry I made for the purchase of that Item, I should be able to see the scanned image of the bill.

I don’t need to see the Bill wise details of the voucher entry I made in tally by exporting them to Google spread sheet but the original bills that we got at the time of purchase from the shop. I think this request may sound strange but still because of the mishandling of the purchase bills by the earlier accountants our MD wants such an arrangement.

Ans : We can import just xml voucher and master files of another tally data but I think we can not import any other images into tally . I think this facility is available other banking software like finacle , where scan copy of hand signature is kept as proof in softwares but it is still not available in tally 9 .

If you are keeping scan copy of bills images in google docs that is the best solution . I think you should continue this and in future , if tally solution company will introduce any new facility regarding this matter . I will surely publish in my blog .

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Accounting Standards in India - Simple explanation ( AS 5 to AS 8 ) Part second

5. Accounting standard 5 ( AS 5)

Profit or loss for the period prior of changing accounting policies:-



ICAI’s this standard explains two simple rules

1. All ordinary and extraordinary item relating to the financial statement should be disclosed if it effects on profit or loss period before changing of accounting policies.

2. If accounting policies are changed. Then it is the duty of enterprise to disclose all important items relating to income and expenditures, so that profit or losses before the period and after period of changes of accounting policies can easily compare with other enterprises business.



6. Accounting standard 6 (AS 6 )

Accounting of Depreciation


Accounting standard 6 explains rules and regulations regarding charging of depreciation on any fixed asset . These rules can be explained in following way.

1. Depreciation must be charged on fixed assets which is used in business for more than one year .

2. Depreciation should charge with consisted method of charging depreciation. Two famous method of charging depreciation are straight line and reducing balance method.

3. Rate of depreciation should be according to company law 1956 and if it is not written in it then companies are free to charge depreciation with appropriate rate of depreciation.

4. Any company can also change the method of charging depreciation. But its effect in the form of deficiency or surplus also should show in profit and loss account of business .

5. Deficiency due to changing the method of depreciation will be debited in profit and loss account and surplus due to changing the method of depreciation will be credited in profit and loss account of business.


7. Accounting standard 7 ( AS 7 )

Accounting of construction contracts



Construction contracts are those contracts relating to build of dam, building, pipelines, ships and other fixed assets. The nature of business is different from business of general manufacturing. Because time of completing contract is more than the time of accounting period. So, ICAI makes some rules and regulation that should be adopt in the business relating to construction.

1. Construction Company should identify all their resources of revenue. It may be fixed at the time of contract or it may be cost plus profit basis. So, it is necessary to make contract account statement in which all revenue of construction business must be shown.

2. Costs of contract comprise all raw material labour and other expenses which incurred for completing of contact. These costs should also calculate and deduct from revenue for calculating net earning from each contract.



8. Accounting standard 8 (AS 8)

(Accounting for research and development)



Research and development is important department of any company. AS 8 cares its accounting treatment and related to calculate its proper cost and charging on profit and loss account.

Ist part

Calculate the cost of research and development with following formula


= Cost of raw material used in research and development + Cost of wages and salaries of employees working in this department +depreciation of assets used in this department + amortization cost of patents and licenses + other related cost


2nd part

This part is related to charge the written off proportion to profit and loss account. For this company’s accountant should see what will company gets future benefits and how many years will company get these profits. On this estimation, company will charge written off cost to debit side of profit and loss account and rest amount of deferred expenditure of research and development will be shown in balance sheet’s asset side under miscellaneous expenditures .
related : Accounting Standards in India – Simple Explanation - Part one (AS 1 to AS 4 )

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How can watch purchase and sale bills of tally 9 in Google spreadsheet of Google docs ?

Q:- I would like to post you one doubt in tally. My MD wants to view the scanned purchase bills of the fixed assets in Google spreadsheet from our head office which is situated any other place . Is it possible to do that? As of now we are using tally 9 for recording of transaction.

Ans: For this you have to export , voucher entry bill wise by going to display and day book in tally 9 . Export must be in html file and it will automatically saved in C drive and in c drive tally folder .






After this you can import this bill data in google spread sheet by sign in the google docs account and upload this file from tally folder by selecting your bill's html file . Benefit is that now your MD can see this purchase bill from any place and any computer connected from Internet . You can share this bill by inviting your MD as collaborator or you can attach this to email to your MD or you can also publish it as web page .





related : How to import Wikipedia's Finance and business tables in Google Docs

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How does money market fund engine operate ?

In finance study money market is that place where currencies , money bills and other treasury papers are purchased and sold . All deal is done under money market fund engine . If you want to understand its system , I can tell you this with simple steps of its procedure .

Ist step

Investors provides money by purchasing different currency and money products of financial institutes and big corporations .

2nd step

These corporation keeps this money under corporation's money fund and this money is used for given to others or direct use for production .

3rd step

Corporation provides interest on this fund annual basis .

4th step

Corporation is also responsible to repay the amount of commercial papers at its maturity but between this time these papers can sell to other investors on profit or loss under bargaining of demand and supply of commercial papers .

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Why did India save from last year financial Recession ?

India is the third country who easily saved from last year World financial crisis under Herald Sun and Servcorp survey data .

What is the reason beyond this? Is our economic policy are good or Currency and share market of India working under strict control of RBI and SEBI. Because this is the two main reason for financial crisis problem either bad economic policy of Govt. or bad practice of shares and currency market.

I think there are following reasons which saved India from financial crisis and recession

• RBI provided good directions to Indian banks regarding providing loans.
• Indian Economic policies are also responsible for this good position.
• It is true that India share market is fluctuating but still it is strong and companies gets high market value of stock after least recession in last year.
• In 2007-08, net FII inflows into India amounted to $20.3 billion because, all countries where financial crisis at top level invested money in Indian market and Indian market became reverse position of inflation.
• Sub-prime loans and other risky loans are not given by public banks last year .

Related : Main roots of Financial crisis in simple English

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Detail of Top States and Cities of India who visited Accounting Education Site

When I saw google analytics today , I found some interesting report of my accounting education's site's Indian Users .

In above picture , I am showing top states and cities of India who visited Accounting Education Site . Bihar and Assam's visitors are below average who visited Accounting education Site . Mumbai is number one city who visited Accounting Education more than all other other cities .

Rank of City is given according to highest nos. of Visits with in one month

1. Mumbai
2. Delhi
3. Chennai
4. Bangalore
5. Ludhiana
6. Hyderabad
7. Pune
8. Ahmedabad
9. Chandigarh
10. Calcutta

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Accounting Standards in India – Simple Explanation - Part one (AS 1 to AS 4 )

After becoming Indian Accounting standard board as the prime authority for making Indian Accounting Standard in 1977, it made Indian Accounting Standards in 1979. These are also called Indian GAAP. This board also made many amendments in these Accounting standards. I have already made AS 1 to AS 32 content list in General Accepted accounting principles (GAAP) article. But I could not write its simple explain. So, today, this tutorial is just simple explanation of Accounting Standard especially for students who are doing chartered Accountancy in India and accountants who is practising accounting profession in India .



1. Accounting Standard 1(AS 1)

(Disclosure of accounting policies)


This accounting standard guides to company accountants for making their companies financial statements. After making financial statement, it should disclose all financial information of business because business of company is not the business of one man. It is also duty of accountant to make and disclose also extra accounting policy if company is using different depreciation, stock and investment valuation method. This accounting standard is made also for public interest and providing them full financial information. After they can take the decision of investment by purchasing the shares of company from stock exchange.



2. Accounting Standard 2 ( AS 2 )

(Valuation of Inventories)
This accounting standard is very helpful to calculate the value of inventories. ASB comprise all stocks which is purchased for sale or production in inventories.

Value of stock is not fixed by single formula but this standard provides following guidelines for calculating the value of inventories.

1st stock must be valued on cost or net realizable value which is lower .

2nd Every company is free to use FIFO, LIFO or weighted average method for proper calculation of the value of inventories.

3rd Cost of inventories
= cost of raw material + cost of direct labour + cost of direct expenses

4th
Companies are also free to use standard cost method or retail cost method for calculating the value of inventories.

5th Inventories does not encompass the value of tools which is used for repair of machinery


3. Accounting Standard 3 ( AS 3)

(Cash flow statement)


Accounting standard three which is revised in 1997 states that cash flow statement is a necessary statement under this standard for banks , financial institute or any institute whose annual turnover is more than Rs. 50 crores or any institute who has borrowed money more than Rs. 10 crores . This standard does not provide the Proforma of cash flow statement but deeply explain the two way of making this statement .

Ist Way Direct method

Under this method, cash flow statement is made by inflow and outflow of cash in operating , investing and financial activities .

2nd way indirect method

It is different from direct method. Under this method cash from operating activities is calculated on the basis of net profit after different adjustments of non cash and non operating items like depreciation , interest , dividend paid and also adjusting net changes in working capital . All other part of cash flow from investing and financial activities are as same as direct method.

related see : Proforma of Cash flow statement

4. Accounting standard 4 (AS 4)

(Contingencies and events occurring after the balance sheet date)


Accounting standard four provides the rules of accounting treatment of losses due to contingencies and event happening after balance sheet date but before approving of balance sheet by board of directors.

Any contingencies like loss by fire or liabilities due to employee’s accident should be provided in financial statement after these contingencies losses are confirmed.
Impairment losses of assets is also covered under AS 4
Any losses due to happening of any event is also shown in financial statement before approving financial statement

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How to get updated Stock market data with Google Finance function with in 15 second

Google finance functions are the formula which is just used like Google lookup formula for getting updated stock market data . For applying this formula , you need only 15 second and then you can get the result .

Google Finance function


=GoogleFinance("symbol"; "attribute")

Symbol → stock / shares symbol of company

stock / shares symbol is just company brand name for selling shares

for google = GOOG
ICICI bank = icicibank
PNB =pnb
SBI bank = sbi

attribute → is price and volume of shares and stock

This stock data is updated after every 20 minutes .

For calculating value of shares of google updated

Go to google docs spreadsheet and

=Googlefinance("GooG","price") and then enter
If you want to get updated shares value of other shares in U.S. Stock exchange . Then following formula will apply

=Googlefinance("sbi","price") and then enter

=Googlefinance("pnb","price") and then enter

=Googlefinance("icicibank","price") and then enter

If want to get updated market capital value then


Write volume on the place of price and other attributes and stock symbols will be remain same and then press enter by keyboards . For Stock market brokers this formula is more useful and this is so simple .

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How to pass journal entries of hotel business

I have obtained query in which a fresh accountant who appointed as accountant wants to know

different voucher entries regarding hotel business .


Hotel business is that kind of business in which businessman buys different eatable

products and then he or his employees make finished product in the form of hotel dishes and

here is also rendered different purchase and sale of drinks product .

Transaction is almost same but if hotel is operating at corporate basis .Then it is good

for to make stock categories in tally 9 and then makes different stock items in inventory

info .
Procedure of passing Journal Entries of hotel business in tally

• Ledger creation
• Makes inventory ledgers in Inventory info.
• writes different units in unit measurements .
• Make list of raw materials in stock items .
  
  Write different ledger accounts under following heads in account info.
  
• purchase account under purchase account
• sale account under sale account
• different direct expenses under direct expenses account
• different creditor account with their respective name under sundry creditor account
• different debtor account with their respective name under sundry debtor account
• create other ledger account from time time for recording the transactions of hotel business .
  
  Pass the voucher entries
  
  
  1. When hotel employees purchases raw material
  
  Purchase account Debit
  
  bank account or creditor account if purchase is not with cash Credit
  
  2. When payment to the creditors is done .
  
  Creditor account debit
  
  Bank account Credit
  
  3. When products of hotel is sold
  
  Bank account/ Debtor account if not sell on cash debit
  
  Sale account Credit
  4. When cash received from debtors
  
  
  Bank account debit
  
  Debtors account credit
  5. When expenses are paid
  
  
  Respective expenses account debit
  
  
  Bank account credit

There are also other many transaction , for passing their journal entries , first makes their ledger account , the pass journal entries in Account vouchers .

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Accounting Software

Accounting Software means all those programs which are useful for creation the system of accounting treatment in a computer or group of computers . It is also type of computer software and in accounting software we can include only all software which can change all transactions in computer data and produce all accounting information like ledger accounts , trial balance , inventory reports, final statements and other advance managerial and tax reports automatically .Different countries uses different accounting software . But in India two accounting Software are most popular one is Tally and other finacle .

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Learn farsightedness from great Accountant and Businessman of World

Accountant is a single person in this world whose farsightedness is top level . I can prove this true example . If you want to know how is it true . Then read this example .

George Eastman was a good accountant, businessman and also owner of Kodak company . He planned to make a theater in Rochester .For this he ordered to an architect . Architect said that I made the map of the theater and you can see it now . Six thousand people can easily see the film in on batch . But when George Eastman watched his map . He said to him ," Two more chairs can easily adjust among six thousand chairs . But architect said that what is the benefit of keeping two more chairs here with 6000 . Then George Eastman said ," Dear , you are not expert in accounting so you are not seeing the importance of two chairs with prudence ." I tell you the major importance of this two chairs if we will adjust with six thousand chairs . These two chairs will increase two number of customers . If from one chair , we get earning of 1$ for watching show . Then two chairs will give us 2$ . If we show six movie in a week . It means we get 12 dollar more from this two chairs . Suppose if this theater will operate for 20 years . Then we will get 11520 $ just from this two chairs' earning . With this money we can start new business . We can get minimum 6% return as interest or profit on 11520 $ annually .

Architect replied ," Dear sir , today ,I understood why does whole world respect accountant . I am ignoring this two chairs importance due to ignorance of Accounting Education . But you have taught me what a single item of business can effect on business's earning .

So , from above example , you also understand that accountant has great farsightedness in this world . They can count everything as investment and within one second their brain count its future financial profit and after this decide what is perfect for business .

In End , I say you if you are studying for making Accounting profession , then it means , you are study for becoming high sagacious savvy wise persons in this world who can tell what will happen in the future of any business because for doing business a person should have high astute sense which can get only from accounting education .

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How to build a pie chart for Company's profit and loss account

Pie Chart is an Statistical tool to analysis financial data . It is the simple way to show company's performance to interested parties . Let us learn how to make a simple Pie chart for company's profit and loss account in Google Docs .

1st step

Write the main items of Profit and loss account in first column

in main items we can include gross profit and all other operating expenses .

2nd Step

Write the % amount on Sale because it is easy to understand by every one what is the proportion of any income or expenses in 100 . This must be written in second column of google docs .

3rd Step

Click insert button above in google docs and then click chart and in chart select pie chart and then select the above data of profit and loss account's main item by dragging with mouse on all cells , I have selected A3:B8 and its data will be included in Graph structure .

4th Step

After all adjustment in form of pie chart graph , click on Save of Chart . Now your pie chart for business 's profit and loss account is ready and you can share it with whole world like your investors , customers and friends and also embed in your website by just copy pasted embed codes of pie chart .

Thanks William Playfair who invented pie chart in 1801 for showing the proportions of the Turkish Empire located in Asia, Europe and Africa before 1789 . After this large number of pie chart made in the field of finance and business for make other understand about what have you done in your business .

According to Indian Company law 1956 , Every Company have to make Recent Trends in published accounts and pie chart can also used with other bar and line graphs .

But Bernhard Reiter has also published some warning regarding use of piecharts . link

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How to promote Accounting and Finance blog on the web

If you are writer or blogger for writing accounting and finance articles , here are some essential tips for promoting your blog that you should know about.The tips discussed here will also help to get high traffic and you can become Accounting and Finance Guru online .

1st tip

Not only accounting but every blog can get high traffic from high page rank because high page rank articles blogs have high power to come on first page . So try to increase page rank .

2nd tip

Backlink means traffic comes from other site . How it possible . Simple add your site or blog to blog directories . Some of the blog directories are following

Blog Directories:

5starblogs , A1 Web Links - Accounting Resources reciprocal or $$$ , Addyourblog Allafrica All-Blogs.net fee or reciprocal , Answers Autosmoto Aviva fee , Biggerblogger , Birminghambloggers , Blawg Blawgrepublic , Blloggs , Blogarama Blogaz , Blogburst Blogbib fee or reciprocal , BlogCatalog Blogcode Blog-collector , Blogs-collection , Blogdir Blogdir.com , Blog-directory Blogfolders Bloggapedia , Bloggerhq , Bloggerschoiceawards , Blogexplosion , Blogfinds , Blogflux , Blogged , Bloggapedia , Bloggernity , Bloghints , Bloghop , Bloghub , Blogion , Blogintro, Bloglines , Bloglisting , Blogmob , Bloggernow , Blogotion , Blogrankings , Blogs.com , Blogsbywomen , Blogscanada , Blogscholar , Blogsearch , Blog-search , Blogsearchengine , Blogsrating , Blogtree Blogs-collection , Blogscholar , Blogville Blogz , Blogz Blurt It , Britblog Browseblogs ,Chefsblogs , Christiansunite , BoingBoing , BOTW Blog Directory fee , Bulletize fee ContentsMatter Crayon , Dfwblogs , Directorybest , Diarist , Dmoz EatonWeb , Ezilon Eponym , Feedboy Feeddirectory Feedmap , Feednuts , Flookie, FindingBlog , FyberSearch, Geekyspeaky $$$$ or reciprocal , Genwi, Getblogs, Globeofblogs , Gnoos, Gobignetwork , Google , Gozoof , Grokodile, IBlog , Business Directory fee , Jewishblogging , Kmax , Leftyblogs , LSBlogs , Mkeonline Mozdex , Mvblogs , Myblog2u, Myblogdirectory , Nitle blog census , Nycbloggers , Orblogs, Outpost-earth Poddop , Quickblogdirectory , Rateitall , SmallBusiness.com New , Spicypage , Sports Sportsblogs , Somethingjewish , Strategicboard , Submitblognow, Superblogdirectory, The lefty directory, Theblogresource, Theseoking , Portal.eatonweb fee, Regator, Scienceport, Small Business Blog Dir fee , SmallBusiness.com , TheVital , TruthLaidBear Wilsdomain reciprocal , Weblogs.com, Weblog directory, Webloogle, Websandiego , Yahoo local, Yahoo.com,
Blog + RSS

Blogbunch Blogoriffic BlogPulse Blogstreet Feednuts Gogreece Icerocket Info-listings Photarium Rateitall Regator Today Topblogarea

Multi-Ping-Services

Pingomatic Pingoat Ipings

RSS

2Rss 4guysfromrolla 9rules.com Allheadlinenews Automotive-links Blogcensus Blogdigger Blo.gs Bulkfeeds Chordata Crayon Daytimenews Design-feed Devasp Feed24 Feedage Feedbase Feedbees Feed Burner Feedboy Feedcat Feedfury Feedplex Feeds4all Feedmailer Feedooyoo FeedsFarm Feedsee Feedshark Feeds2read Feedza Finance-investing Findrss Free-rss Gabbr Goldenfeed Itsmynews Jordomedia Medlogs medical feeds Millionrss Mobispine MyMSN RSS Directory submi feed to ’search’ for content News-feeds NewsGator Newsknowledge Newsnow NGOID News Network Octora Plazoo Postami fee Pressradar Purerss RDFTicker ReadAblog Readburner Redtram RocketInfo Rssbuffet Rssfeeds Rsshugger Rssmicro Rssmountain Rssmotron Search4Rss Security-protection Solarwarp Strategic Board Swoogle Syndic8 Tailrank Technorati Topix Twingly Weblogalot Wingee YahooRss Xmeta Zimbo thanks Debajyoti Das


3rd Tip

Write Quality Contents

Why do visitors search on Google search engine ? Answer is for finding useful information . So , if your niche is accounting and finance , then write useful and good contents relating to this topic . It will surely promote your blog .

4th Tip

Write comment to other blogs . There are large number of accounting and finance blog and try to comment in these blogs , so in web community , every one know your professionalism in the field of accounting and finance .
some of famous accounting and finance blogs are following

CPA Firm Technology Blog , From Greg’s Head: , The Tech Gap , Energized Accounting
InsolvencyAccounting, Business Valuation Blog: , Accounting Thoughts:, Islamic Finance Blog: ,
Abacus:, A Passion for Business: , Beancounter MagicNumber Insights: Periodic Ramblings of a CPA: , Skeptical CPA: , Where Every Penny Matters:, Re: The Auditors: , The Solo Accountant Reporter: , Understand Accounting:, Accounting for What’s Next: , Accountants Round Up: Footnoted*org:, Life and Times of Accounting: , The Accounting Blog: Thanks Biz. edu

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Solution of problem of B.Com. Student

Q : I am the student of B.com ( doing from ignou). my examination starts from a 1st of June .i need some notes from you . sir please send me notes to related subjects
1) Hire Purchase Accounting with question and solution
2)Branch Accounting with its proforma , question and its solution
3) depreciation accounting sample question and its solution.
SIR please send me all notes.

Ans : I have not written accounting notes for specific university like ignou or any other and also not write any thing on any specific topic but from time to time I have written many notes on different topic of Accounting . So , it is not possible to send you to your university related topic . But If you search my site , you will easily find , what you need . Because , I also got same queries from students of other universities not only India but outside India . So , due to I care of every request of my site visitor , I try to best to help you by writing what do you want to read .

I also suggest you to subscribe my site by any method like email , google homepage gadget or any other for getting updates from my site which may useful for you .

I also suggest you that my site is not substitute of books and never will become but it is platform of solution and tutorial of difficult topics of accounting books and also what I got from practical problems from accountants . I try to my best to make them simple with more practical examples . Accounting is very huge subject and it is very necessary to study deeply its every topic . I wish , your paper will be good .
Best of luck , Good luck !!

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Why is accumulated depreciation account made by accountant ?

You know that accumulated depreciation account shows the total amount of collected depreciation who was charged in old years on any fixed assets . You can also it with wikipedia's example . Now question is still why is accumulated depreciation made by accountant ?
Its answer is that many accountants are in favor not to show it in profit and loss account but show it as negative asset .

Why does we charge depreciation ? Reason is that for purchasing new asset . It means every reduction amount should be as fund to buy . So , it can not be show as current expenses or loss . That is the reason accumulated depreciation account made by professional accountants instead of making depreciation account . But when any asset is sold , then it is very important to deduct it from book value for calculating current cost of asset and on this basis accountant can calculated the net value of profit or loss on sale of fixed asset .

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Accounting principles board of USA (APB ) - brief introduction

The American Institute of Certified Public Accountants of USA had made "The Accounting principles Board" in 1959 for creation of different principles which can be used by certified accountants of USA . But 1973 all powers to make principles except 19 opinions of GAAP was shifted to Financial standard board . Up to now total 31 opinion were created by APB and have power to FASB to amendments in it .

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Accelerated depreciation and its Accounting Effect

If we define accelerated depreciation we can say simply that it the technique to save tax money by charging high depreciation in beginning of years. This concept is yield in USA accounting system and the main motive is to charge depreciation as loss in profit and loss account's debit side with higher rate so that in beginning years tax amount will save.
First of all I tell you what the history beyond this is. USA accountant are so expert for saving tax with adopting always new system because there is capitalism system of economy not socialistic economy system. The entrepreneurs' main aim to maximize their profit by any way.

Suppose if a firm has purchased an asset of $ 100 and its working life is 10 years and its depreciation is $ 10 per year for ten years with simple straight line method of depreciation . Tax rate is 10% on net profit.
Now, USA Tax code, USA businessmen allow to charge high depreciation for completing the value of fixed assets in beginning of years. So, USA accountant started charge $ 20 as accelerated depreciation with in 5 years, they want to cover the value of fixed asset.

Now its effect on Tax

• Today value of money is high than after 5 year value of money because adding of interest on money, so charging accelerated depreciation technique, businessmen of USA get the benefit of value of money.
• Tax of first five is now less because high rate accelerated depreciation will charge on the debit side of balance sheet so this fund also can utilized for any higher earning projects.
  

Technique of Accelerated depreciation used in India

Under income tax law, there is no provision for charging depreciation with higher value or rate for getting the benefit of time value of money, Income tax law 1961 provides written down method to all companies with his own rate of specific assets.
Now some of business or companies are getting benefit under accelerated depreciation in India also.

• We can take two example one is Commercial Vehicles on its purchasing 50 % accelerated depreciation is allowed.
• Second example is of Enercon (India) Limited who is getting fiscal benefit from Central govt. tax u/s 10(23) G in the form of charging 10% accelerated depreciation.

Related Articles

• Depreciation entry in Tally
• Depreciation and effect on final account

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Definition of Account in plain English

Account is an accounting term and to know about what is account is very necessary who's duty to maintain accounts and also those who have no background of accounting .

Account may be defined T form table which tells us detail of specific accounting events which happen due to happening of transactions . In other words , account tells us what amount , we have to pay , what amount , we have to get , what is the total amount in bank or in hand .

Every account of ledger has capacity to tell specific information which is useful for businessman .
In general word journal entries's debit account will go to the credit side of credit account

Ram purchased good from sham on credit $ 10000 and after two days he pays same amount . Its journal entry will in books of Ram

Purchase account Debit $ 1000

Sham account Credit $ 1000

After 2 days

Sham account debit $ 1000

Bank account credit $ 1000

Now , Ram will open three account

1. Sham Account

Purchase account will be written its credit side

bank account will be written its debit side

2. Purchase account

sham account will be written its debit side

3. Bank account

sham account will be written its credit side

From above example , we get idea that in journal's debit account will go to credit side of credit account and every credit account of journal entry will go to debit side of debit account .



I also explain Account with one more example . For instance businessman wants to know what is the amount which is not received from debtor and has become totally bad debts . If accountant did not make the accounts properly , he will not in a capacity to answer businessman's question but , if accountant has made all accounts by proper journal entries , then total Amount which is transfer to profit and loss account as loss is the bad debts account which shows his bad debts account . This account also explains that which debtor did not pay and what amount he did not pay .
After deep study of Accounts , account manager can explain revenue and financial position of business . It is true that these days , we need not make accounts manually , every software makes it automatically , after passing voucher entries . But it is also true , importance of account is still important as in old time accounting system . Accounts also useful way to study the business , its transactions and its nature and if you have power to watch every account of business , you can get answer of many new questions which the financial statements are not shown . This is the reason , every business concern maintains his old years accounts . You have gone to bank and if you demand last five year his bank account's statement . He will also responsible to give to you because every bank maintains his customers account and provide information of account under right to get information .

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Education Technology way of earning big profit

Education is the field where every body wants to make his career . Now Education technology is also in boom . Latest News is that Core Projects & technologies
is earning high profit from education sector by providing education domain solution at world wide . This company is Indian IT company and now it has done agreement with Serve Siksha Abhyan and IGNOU regarding opening new centers .
CEO of this company Prakash Gupta on CNBC India said that we have plan to open 100 centers of CFHL ( center for higher learning ) under agreement with IGNOU and 1000 centers under agreement with Sarve Siksha Abhiyan . With each center company with earn Rs. 3 crore revenue . Profit margin of this project is 20% .

In my opinion , Education sector is now becoming fully commercialize and many companies are interested to cash it , Even you will also see Naukri.com is also launched Siksha.Com for more earning from education sector . If we talk about core projects and technologies Ltd . its net profit after tax is Rs. 8,448.25 Lakh in 31 March 2008 which is more than Rs. 6,322.72 in 2007 . 25 % growth rate is good for company . But question is also that will it effected the admission fees of students who will join in these centers ?

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TV Show Accountant Loses All - Letterman's Accountant

This is TV show , really Humor and funny when , I watched , I found the seenso much humor in which the accountant said to his boss that you are bankrupt due to losses from the recent economic collapse .




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• Do you listen Accounting Song on YouTube
• Technique of Creative Accounting

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New decisions of China for reserves in gold for safeguarding from financial uncertainty

China has decided now to keep their reserves in Gold more than 75% of old reserves .
China increased his gold reserve from 600 tonnes in 2003 to 1,054 tonnes in April 2009 .

After this decision there are following result came to us :-

one : now China has become the fifth largest among national central banks in the world after the U.S, Germany, France and Italy

second : China bought 454 tonnes new gold for making 1054 tonnes in previous month .

third : After G 20 conference , China cleared to his desire shift his international reserve in Gold and also interested to make links with Brazil .

Fourth : It will increase gold’s value due to providing stability in the uncertain financial markets

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New Amendment in Service Tax Act regarding Service Tax return form

Service Tax department of India has done amendment in Service tax under Notification No. 10 / 2009-ST regarding service tax return form . Now in Form ST-3, 8 No. will be the two part
( a ) and (b) and in this no. , a Service Tax Return Preparer should mention his id and name . This amendment is under the authority of (Ashima Bansal) Under Secretary to Government of India .

I think many case , service tax return preparer are different from actual assess , so it is very necessary to identify who prepare the service tax return and in future , if any excess service tax or any mistake in return filling , then who will be responsible for this . So , this amendment is taken by Govt. of India. Link

Service tax department is also little amendments in no. 39 and no. 40 by making substitute of "Kolhapur” as "pune II" . New Delhi, the 15th May, 2009 Link

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Become Finance Researcher with Google Lookup and Google Finance Formula

Every investor or buyer research before any investment or purchase . There are many ways to research before taking any decision . There are many question which arises when any company or Govt. invests their money in any company , business or country .
It is true that Google search engine is best tool for researching any data regarding your finance , accounting , business queries . But you will despair if you can not get your result after 5 to 10 hour research on Google search engine .
Now , I am providing you simple tutorial in which you can get answer by just applying simple formula in Google Docs . Google docs is the also project of Google and it is very useful for becoming finance researcher with in 5 to 10 minutes .

After learning this tutorial you will find

• Any countries updated population .
• Any countries Internet users .
• Any countries per capita income .
• Any countries national income .
• Any company's share price .
• Any company's Latest news .
• Related Companies all financial data

Ist step

Open Google Docs with google id and password

2nd Step

Click on new spreadsheet and

3rd Step

Google Lookup formula

= GoogleLookup("entity","Attribute")

where "entity" represents the name of the entity that you interested to access, like it may country , state , company or product name .

Different attributes apply to different entities.

For example:

• population of India ??


• Internet users of China ??


• per capita income of UK ??


• Net profit of ICICI Bank ??

etc

Now Go to in the cell section of Google Docs

Write

= GoogleLookup("write the name of entity","write the name of attributes") + Enter

Suppose , I want to know Net profit of ICICI bank

I will write

=GoogleLookup("icici bank","net profit")

After pressing enter by keyboard , I will get result

and I will found in Google Docs

Rs 744 crore

If you will click on result you will find its resource and if you will go to more result after this you will get related results . This technology works under Google API and this can makes finance researcher very fast .

Watch Also Following video for learning Google finance formula in Google docs

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Online accounting degree in India

After 10+2 commerce, every student wants to get graduate degree . It may be in commerce , art and science . But online accounting degree concept is new in India and many institute are starting this degree but Still Indian universities are not only providing degree for accounting subject . These universities have regular and correspondence commerce degree . This is good substitute of international online accounting degree . After this degree student can become commerce graduate or B.Com. There is no a single institute who is fully online but many UGC recognized universities are giving correspondence commerce degree in India. Himachal Pradesh University, Shimla is one of them. This university’s international centre for distance education and open learning has played a pioneering role for providing accounting education at graduation level. It established in 1972 and at now offering degree of commerce (B.Com.) online degree .

There are following benefits of this university:

1. You can get up to date information regarding admission, personal contact program and examination dates from its website.
2. It is starting online library and tele- teaching with this students of commerce can also learn solution of accounting problems online.
3. After completing graduation, you can also continue your post graduation and M.Phil. Correspondence from same university.
4. All students who are also doing jobs can get opportunity from this degree because , there is no need to go regularly to college for completing graduation in three years .
5. Fees structure is also very cheap.
   
   Students have to study by him and main fifteen subject’s exam is given for getting B.Com. . Sorry but examination is no online but you can given examination to your local education center which is provided by HP university. Admission is started from July and more information can get from ICDEOL

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Get Scholarship from AIGC for Accounting and Finance Career - Deadline 1 June 2009

American Indian Graduate Center, Inc. has started to provide scholarship to Indians for accounting and finance career at graduation level in U.S.or U.S. accredited
college or university as full time and degree seeking If you desire to get , you have to fill this form and send it via mail to American Indian graduate Center Attn: Wells Fargo American Indian Scholarship
4520 Montgomery Blvd. NE, Ste 1‐B Albuquerque, New Mexico 87109 and also read other eligibility conditions which is given it . Keep in mind dead line of receiving your application is June 1 2009 .

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Good Indian blog: e-taxindia.org Recommends reading Accounting Education

The author of e-taxindia.org which is known for Indian tax learning site recommends reading of Accounting Education which is written by Mr. Vinod Kumar. He writes in his article “learn accountancy free online” that accounting education of Mr. Vinod Kumar is the Indian blog which have very good articles relating to learning of Accountancy. Thanks e-taxindia.org for recommendation me and for accountingcoach.com .

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Tips for Earn Extra Cash

Main Aim of accounting is to telling net earning of business but there is no life of accounting with source of earning because without earning what we will to record . So think first source of earning .Jennifer W. has given tips for earning extra cash in e-how site . These tips are for people that are interested to earn the extra cash. He has 6 new ways for getting extra cash . Learning Link

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Earn money by publishing your accounting and Finance blogs on amazon kindle

In USA and other developed countries , there are large number of people who read blogs on amazon kindle . Amazon kindle is a mobile type chip and any body can read
any blog from it but he has to pay for it . It is not free subscription . Amazon.com is sharing his income with blog publishers . This is also good opportunities for Indian Accounting and finance writers and bloggers who are earning from google AdSense and now can get extra earning from their blog feed publishing in Amazon.com . For this they have to fill simple this form . Amazon.com is sharing earning 30 % of his earning with publishers who will submit there blog feed view above form . The price of subscription is Approximately 1.99$ and you will be given 30% . But after this it is good news for writers who writes on business , investments , industry facts , accounting and finance .

System for publishing your blog in kindle

System of publishing your blog in kindle is very easy . You will have to fill the form of above mention like in this form . After this you have to add your feed burner feed address in RSS feed and also upload your blog's screenshot size 800X 600 pixel and logo your blog in the form of banner of your blog and save it and published after 4 to 5 hours . Amazon.com will publish it in his site where any one can get your blog feed by paid money and read your accounting and finance article wireless and offline reading . From Every reader's paid amount's 30% , you will get .



Reading on Amazon Kindle

I have checked my accounting site on Kindle generate blog preview ,it will show in following way



Payment to Writers

For Indian writers and bloggers amazon will also pay vie cheque . There is no extra charges for sending payment to Indians .
So , Add you accounting and finance blog in Amazon Kindle and earn extra money . You can also subscribe my blog feed in Amazon kindle2 here .

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How to find all articles of Finance and Accounting in Wikipedia

I already told you that wikipedia is very large resource of very good information and if you are the student of commerce or Finance consultant then you can find many useful articles of finance and accounting in Wikipedia but problem is that how to find all articles of finance and accounting in Wikipedia . Wikipedia provides his search engine and link system which is not so useful if you want to serial wise all articles . In my accounting education site you can find all articles in below label links and also tags and search system .

Now , I also tell you tricks for finding all above articles in wikipedia .

Technically , when you do the work of online article publishing , you have to make Website's Site map and keep it in Google webmaster tool and you can also show in your website for helping visitors for finding information in your site . Because any one can change any information in wikipedia , so it is not possible to make site map of wikpedia but Wiki mind map is site where you can write any topic and you can get all links of wikipedia's site in flash graph form .
I have written Finance in "enter your topics " in this wiki mind map and I have find following links of wikipedia's finance articles and if you want to go in real time then you can try here .

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The role of Finance Director in Company

The finance director is very reputed position in world class company . The Finance director is responsible for analysis the flow of fund and finance and also makes the planning regarding new ways of generating revenues with proper forecasting financial investments . As a finance director , any person has to do all statistical and analytical work related to finance matter . Good financial planning is just depended on good finance director . So his role in economic development is also important . Company is the name of utilisation of limited sources with efficient way . Its development depends on different factors but finance experts are because of totally connected with all companies financial matters . If they utilize their brain to provide good interpretations regarding financial market trends , opportunities for leading to revenue , after this company of world can grow . More over there are following area in which finance director's decisions are more important

1. Currency hedging

In currency hedging , finance director shapes strategy to reduce exchange rate fluctuations due to purchasing shares and bonds from world capital market . He mold plans after analysis in which

2. tax planning

Tax is compulsory responsibility of any company . It has to pay at proper time and fixed rate under the rules of central and state govt . Finance director studies different rules and regulations and try to pick certain steps to reduce tax under different ways .

3. expense planning

Expenses are needed for generating income but if its amount becomes more than income at that time company will fail due to suffering losses . How can company save expenses . For example in developed countries , world class companies are sending their work to developing countries that is called outsourcing . That type of plan can be made by finance director and he tries to reduce expenses in every event of company like discounting on purchasing , getting opportunities of cheap offers etc. Profit accountability is also part of his duty .

From its role and importance in world company ,many countries also say him usually CEO ( Chief executive officer or managing director )

Google also offers for this post with telling wide its role in company . You can read this in google jobs profile in linkdin .

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