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Accounting & Financial Statements: Basics

Basic Concepts of Accounting and Financial Statement

Accounting is the systematic and comprehensive recording of financial transactions pertaining to a business.ย ย According to Bierman and Drebin:โ€ Accounting may be defined as identifying, measuring, recording and communicating of financial information.โ€ Accounting can also be defined as the process of identifying, measuring, recording and communicating the required information relating to the economic events of an […]

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Auditing: Internal Control

Internal Control - definition, forms, types, objectives, limitations

Internal Control system is one of the basic and essential factors for efficient and effective management. It covers both financial or non-financial aspects of management in an organisation. Definition of Internal Control in accounting & auditing: Internal Controls are methods put in place by an organisation to ensure the integrity of financial and accounting information,

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Social Audit

Social Audit - Concept, Features, Principles, Objectives, Advantages and limitations

Social audit as a term was used as far back as the 1950s. However, in the last decade, the term has acquired new relevance in India.ย It is generally believed today that it is the duty of the privately owned enterprise to ensure that it does not adversely affect the life of the community in which

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Recruitment, Selection, Training & Development

Recruitment, Selection, Training & Development

The prime concern of the staffing function in the management process is the timely fulfilling of the manpower requirements within an organisation. It starts with ascertaining the required number of various categories of employees for the organisation.ย This is done throughย several methods like job analysis, workload analysis, etc. The next thing is the recruitment exercise, followed

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