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Category Archives: Accounting
The IASB Framework
The IASB Framework sets out the concepts and principles underlying the preparation of financial statements for presentation to a wide range of users. This framework acts as a guideline, a regulation and sets out the scope of International Accounting Standards. … Continue reading
Home Page > Finance > Accounting > Income Tax, Income Tax Planning, Basic Pay In Salary, Gratuity Limit, Tax Slabs, Tax-Free Gratuity Limit Income Tax, Income Tax Planning, Basic Pay In Salary, Gratuity Limit, Tax Slabs, Tax-Free Gratuity Limit
With the government raising the gratuity limit, it makes sense to negotiate for a higher basic salary to ensure a better payout. The Union cabinet’s decision to raise the tax-free gratuity limit from Rs 3.5 lakh to Rs 10 lakh is likely to become a tool for companies to retain employees. In 2008, when the … Continue reading
Posted in Accounting
Tagged basic pay in salary, gratuity limit, income tax, income tax planning, tax slabs, tax-free gratuity limit
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How Accounting Works
This article is for beginners of accounting profession who just started their long way and already struggling to understand the basics. The starting point of almost any accounting course is an explanation of the double-entry bookkeeping system which then stands … Continue reading
Posted in Accounting
Tagged how accounting works, illustrations of debits an credits, income statement, understand accounting, what are balance sheet
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Simplify Your Tax System Right Away
No matter what the IRS does to simplify the tax system, it’s still difficult to understand. You can benefit, however, by making certain that your records are accurate and in order. You don’t have to be a genius at bookkeeping. … Continue reading
Posted in Accounting
Tagged accountant, accounting service, boca raton cpa, bookkeeping service, florida accountant, income tax professionals
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Explanation of T-account, Debit and Credit, and Double-entry Accounting System
All accountants know several terms that create basis for any accounting system. Such terms are T-account, debit and credit, and double-entry accounting system. Of course, these terms are studied by accounting students all over the world. However, any business person, … Continue reading
Posted in Accounting
Tagged Account, Accounting, Accounting Balance, Accounting Definition, Accounting Lesson, Credit, debit, Double-entry Accounting System
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