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Business Blind Spot

                 By Team Business psychology   Lima Tax Consultant Business blind spots are areas in which executives fail to notice or understand important information and thus lead their business into one of any of a number of traps.  Human beings are sometimes physically incapable of processing what the eye […]
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Inter Departmental Accounting

Accounting of inter departmental transactions Why separate Accounting for each department If a business consists of several independent activities, or is divided into several departments, for carrying on separate functions, its management is usually interested in finding out the working results of each department to ascertain their relative efficiencies. This can be made possible only […]
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Difference Between Traditional And Analytical Financial Statements.

Traditional Accounting Traditional financial statements are the financial statements prepared with manual intervention and judgments. For many decades, that is, before the arrival of computerized accounting and especially enterprise resource plans software, the accounting reports were highly dependent on the traditional financial statements. Basically, such statements were made to have numerous manual interventions in terms […]
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Real Time Banking.

Real time banking refers to the instantaneous transactions (both deposit and withdrawals) taking place online or through electronic means. It is a modern way of conducting banking transactions and has got great popularity in almost every developing as well as developed nation. For real time banking accounting of transactions is very important. Real time banking […]
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How The Accounting Reports Trigger Business Risk.

Accounting reports are the financial records compiled, mainly for meeting the decision making needs of the top management. It consists of the income statement (the profit/ loss statements), position statement (balance sheet), cash flow (statutorily applicable foe companies) statement of equity and much more. There are many kinds of custom made reports such as the […]
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Inventory Management In Modern Accounting.

Inventory plays a vital role in the revenue generation of the business. Every business has its own inventory types. For instance, a trading concern maintains goods as their inventory. The efficiency of the business in managing the inventory is generally viewed as a yardstick as to how well the business performs. That is, higher the […]
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Important Of Budgetary Control In Modern Accounting.

Modern accounting refers to the automated accounting practices through various accounting packages, especially the cloud based accounting where the data are stored online and accessible to people authorized therewith. The modern accounting has made the accounting works easy and time saving. The accountant who is well versed with the modern accounting packages like tally erp, […]
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Importance of proper accounting in business decision-making.

Accounting can support the decision-making process and management activity. The objective of a proper accounting system is to provide financial information about the business entity. Accounting gives management information regarding the financial position of the business, such as; profit and loss, cost and earnings, liabilities and assets, etc. The objective of the business unit is […]
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7 Reasons, why you need practical accounting training.
By Team Accounting

Today’s educated youngster groups, especially the graduates are striving toapply the theoretical knowledge that they acquired into the practical domain.After all, they find it fascinating, but challenging. However, the better thetraining, the better will be his/ her productivity level. The trainers areexpected to guide the trainees and show the applicability of differentstatements such as the […]
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