An audit is an official check of an organization's accounts by an independent body to ensure departments are following a documented system for recording transactions. Importance of Audit It helps in the detection and prevention of errors and fraud. Helps in maintaining the records and verification of books of the books of accounts. Provides [...]

It is a government registration for MSMEs providing them with a unique Identity Number and a recognition certificate, to certify them as micro/small/medium enterprises. What are the benefits of Udyam Registration? Interest rate Subsidy on Bank loans. Collateral free loans from banks. Direct tax laws rules exemption. NSIC performance and credit rating fees subsidy. [...]

What is ONDC ( Open Network for Digital Commerce )? ONDC is a government initiative to promote open networks for all aspects of the exchange of goods and services over digital networks. ONDC seeks to achieve something similar for e-commerce. It aims to “democratize" digital commerce, moving it away from platform-centric models like Amazon [...]

RBI Tax saving bond is also called Wealth tax. A wealth tax is a tax on an entity's holdings of assets. It can purchased through:- https://rbi.org.in/home.aspx This includes the total value of; Personal assets including cash. Bank deposits. Real estate. Assets in insurance. Pension plans. Ownership of unincorporated businesses. Financial securities, and personal trusts. [...]

Leave encashment denotes an amount of money obtained in exchange for a period of leave not availed by an employee. An employee can take encashment of acquired leave during the period of retirement. During the maintenance of service or at the time of resigning the job, employees do it. How leave encashment is calculated? [...]

Bookkeeping and accounting are two terms that are often used interchangeably. But both of them are different. The difference between bookkeeping ad accounting can be analysed from the below advantages and limitations: Bookkeeping Bookkeeping Means the recording of financial transactions and is part of the process of accounting in business and other organizations. Transactions [...]