Accounting

Preparation of Cost Reconciliation Statement A statement that is prepared for reconciling the profit between financial and cost accounts is known’s as a cost reconciliation…

Concept of Tax Taxation is the biggest source of the public revenue of the government. A nation requires sufficient funds to carry out development plans,…

Tax is a permanent instrument for collecting revenues. The primary purpose is to raise revenue to meet huge public expenditure. It is a major source…

An indirect tax is charged on producers of goods and services and is paid by the consumer indirectly. These taxes tend to take a higher…

The indirect taxes are the levies made by Central and State governments on the expenditure, consumption, services, rights, and privileges yet not on the property…

Indirect Tax An indirect tax is a tax imposed on one person but partly or wholly paid by another. It is a type of tax…

Direct taxes are based on income and wealth, if they are excessive may discourage savings and kill the incentive to work hard. It provides tangible…

Direct taxes refer to the type of tax which is directly imposed on a person. Examples of direct taxation include income tax, corpora­tion tax (on…

Direct Tax A direct tax is a tax paid by a person on whom it is legally imposed. It is a type of tax where…

Approaches for preparing of Value Added Statement Value added statement is a very useful statement for an enterprise. It is a financial statement of an…

Concept of Value Added Tax (VAT) and its Computation Value added tax (VAT) is known as the most recent and effective innovation in the taxation…

Concept of Value Added Accounting Value Added Accounting is the difference between the cost of goods purchased by a business and its revenue. There is…