by Phillip | Jul 9, 2017 | Accounting
Human resource is an important part of every organization. Every organization strives hard to retain existing employees who have excelled and to attract new talent. Globalization has ensured that many multinationals have started functioning and people can take a job...
by Phillip | Jul 9, 2017 | Accounting
Companies may have a policy of destructing accounting records based on guidelines. The date for destroying document and responsible department should take steps for destroying records. There are approved methods of destroying data, and this is done to ensure that...
by Phillip | Jul 9, 2017 | Accounting
Accounting documents are important. That does not mean that companies would keep all accounting documents till company dies down. Some companies destroy accounting documents after a certain period. Accounting documents can be kept as digital documents or paper...
by Phillip | Jul 9, 2017 | Accounting
A company needs to sell goods to customers, and there are occasions in which credit sales would take place .company would have to give time to a customer to pay an amount to settle an account. At the time of paying dues if a customer cannot pay the amount then a...
by Phillip | Jul 9, 2017 | Accounting
Fixed asset expenditure is classified into two parts namely capital expenditure and revenue expenditure. Capital expenditure is the expenditure that is included in the cost of fixed asset. Purchase cost and delivery cost are included in capital expenditure. With...
by Phillip | Jul 9, 2017 | Accounting
Interest on drawings is interest earned on the amount taken as a loan by partners from capital account. Interest on drawings is income to a company while an expense to partners. Drawings can be through cash withdrawal or goods withdrawal. Drawings are also made...
