No trading concern can run without capital. The divisions of share capital are: (i)                Nominal or…

Every company is required to keep at its registered office books of account. These books…

Statutory books are those which a limited company is under statutory obligation to maintain at…

A company is a voluntary and autonomous association of certain persons with capital divided into…

Generally, a balance sheet and an income statement are prepared and issued together because in…

A Balance sheet is like a “snapshot” that gives you the overall picture of the…

Income Accounts These accounts are used to track income earned during the process of operating…

An Income Statement is also called a Profit and Loss Report. In addition, the word…

Payroll Records An employer, regardless of the number of employees, must maintain all records pertaining…

One of the first steps in evaluating a business is determining your break-even point. This…