Take example of printing press, motor workshop and all they will be undertaking work on the basis of customers order only .it means they won’t sell one product to all they will be building or developing what customers says .in order to bill customers. cost of each job have to be ascertained separate...

Internal audit is an independent Management function. Here internal Audit department will appraise the functioning of entity continuously as well as critically with an intention to suggest improvements to add value and to strengthen the overall Governance and Risk Management and internal control sys...

These assumptions can be divided into Three First one is Going Concern.second one is accrual number .and third one Consistency.These assumptions are general in nature and users can assume that financial statements are prepared on these assumptions only. It means no disclosure is required when financ...

Let's say your company has taken up a big project and it has approached financial institution for a long term loan and let's say that loan also has been sanctioned but Financial institution is taking time for finalising its procedures related to security creation Or tie up with other institutions. H...

We know most of the business entities makes credit sale and they have to do credit investigation before making credit sales, then maintain various documents related to the sales, They should follow up with the customers on due date for payment. These additional work will take significant time of man...