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This capital is in the form of cash, goods or assets. For example – loan taken from bank, purchase of goods on credit.Ĥ) Capital :- Capital is the investment made by the owner of the business. For example- Building, Vehicle, Machinery, Furniture.ģ) Liabilities :- Liabilities are given by others to the business. Profits depend on the purchase and sale of goods.Ģ) Assets :- Assets are valuable things, which are necessary for the business and are the assets of the business. For example – A grocery shop has soap, oil etc. So first we understand the meaning of these words –ġ) Goods:- Goods are bought and sold regularly and primarily in business. While learning accounting, we have to use some words regularly. With the above-mentioned advantages, we can easily understand that accounting is the soul of business. How much property is there in business.ģ) In addition, we can understand the reasons for the profit or loss of the business by keeping the account.The following are the advantages of accounting –ġ) By accounting, we can understand that we have made profit or loss in a particular period.Ģ) We can understand the financial position of the business
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Accounting in EnglishĪccounting is the process of understanding, recording, summarizing and reporting the financial information of the business to facilitate decision making in the form of financial statements. If you are looking for a book language to learn Tally, then we recommend you the following books – But, to be honest, we haven’t published any Tally book yet.
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