How To Do Accounting For Small Businesses In India?

how to do accounting for small business in india

Running a small business is no child’s play. Starting from coordinating resources and handling manpower to delivering products or services, everything is complex.  Moreover, when small business operations come with the added burden of handling finances, it can become quite daunting to manage money efficiently during the early stages of business development. Hiring an accountant […]

Why Is Accounting Called the Language of Business?

why is accounting called the language of business

Introduction  As aptly said by Warren Buffett, a well-known American business magnate, “Accounting is the language of business”. Indeed, today, the application of modern accounting and financial methodology is significantly transforming the way companies make a profit. There are many disciplines in which business revolves like accounting, finance, economics, marketing, human resources, operations, etc. At […]

Section 44AA: Who Needs to Maintain Books Of Accounts?

section 44aa of the income tax

What is Section 44AA of the Income Tax Act? Section 44AA of income tax talks about those who need to maintain Books Of Accounts for Income Tax purposes. It gives information about businesses and professions that maintain accounts to ensure easy compliance with the detailed requirements of different transactions mentioned under Section 44AA. Who is […]

Five Best Ways to Analyse the P&L for Small Business Owners

best ways to analyse profit and loss statement for small business

Are you a small business owner? Want to learn how to analyse profit and loss sheets effectively? Follow these simple steps to analyse your business health. Introduction Small businesses need to proffer extra care to their income and expenses during the nascent stage of their growth. By using a profit and loss or income statement, […]