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Alimasi 22/03/2016 in  BCom Tuition

Which are the best BCom tuition classes in Mumbai?

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Amit Kumar replied | 05/07/2016

U can find it on UrbanPro and have the demo first.

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Nandan replied | 06/07/2016

Cant say best but sinhal classes are excellent..

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Basundhara 21/03/2016 in  BCom Tuition

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Anu replied | 05/07/2016

Yes... tell me what subjects u want to learn??

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Amit Kumar replied | 05/07/2016

Yes I can provide u online classes of any subject of http://www.b.com

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Purushotham 21/03/2016 in  BCom Tuition

How many years of experience should a good BCom tuition teacher need?

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Intellimind replied | 25/04/2016

Ideally teacher should have atleast 2-3 years of experience but again it is not mandatory. One should keep himself abreast of the latest developments in the subject . He should be a good learner and always willing to employ new learning techniques for teaching.

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Amit Kumar replied | 04/07/2016

Doesn't need the experience.u should consider the knowledge and the way he presents

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Mohd replied | 20/06/2016

The primary step to get a prolific tutor is to assess his/her profile before asking for a trial class.

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Gopikishan Sharma replied | 22/06/2016

by completing your question ok
first of all your location ?

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Sainath 20/03/2016 in  BCom Tuition

Suggest me some good books for accountancy?

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Prosenjit replied | 03/05/2016

TS Grewal & MLD with oswal test paper.

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Mitesh replied | 01/07/2016

Sultan chand books
You can use study material of ca,cs institute

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Shankar 20/03/2016 in  BCom Tuition

How much should I charge for 3rd semester BCom tuition?

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Devinder Singh replied | 16/06/2016

?6000 per subject at your own institute

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Sagar Khandelwal replied | 17/06/2016

Atleast 5000 per subject

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Riishu 19/03/2016 in  BCom Tuition

What is the difference between a consumer and a provider?

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Komal replied | 14/04/2016

Provider is the person who provides the goods to the consumer whereas consumer is the person who uses/ consumes the goods purchased/ taken from the provider.

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Mohd replied | 14/04/2016

consumer is a person who consume good and services for their satisfaction. provider is a person who provide good and services to consumer .

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Rema 19/03/2016 in  BCom Tuition

What are the entries to be passed for Preparing final accounts?

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Sreenivas replied | 18/04/2016

all entries pertaining to current financial year which are not in trial balance and given in adjustments.

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Rubeena replied | 19/04/2016

Final a/c have basic three a/c trading,p&l and balance sheet.

First u need to prepare trading a/c by which gross profit or gross loss will be calculated.

After that u have to prepare p&l a/c by which net profit or net loss calculated.

Last u have to prepared balance sheet of the company.

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Ajay 19/03/2016 in  BCom Tuition

Which branch of economics studies about unemployment, illiteracy, National income tax?

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Jeena replied | 11/04/2016

Macro economics

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Subbarayan replied | 14/04/2016

Economics deals with this. Both micro and macro are equally important to know in details of the subject

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Suman 19/03/2016 in  BCom Tuition

Do I need to study commerce in 12th standard in order to seek admission for BCom?

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Nitin replied | 21/03/2016

Bcom is bachelor of commerce, so naturally you should study commerce.

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Amit Kumar replied | 04/07/2016

No .but if u have planed for http://www.b.com u should go with commerce

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Mahesh 19/03/2016 in  BCom Tuition

Can you tell the subjects that comes in 1st semester BCom syllabus?

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Shamjith replied | 08/04/2016

From which University?

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Amit Kumar replied | 05/07/2016

It depends on the university, accounts will be for sure irrespective of the university.

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Shalu Verma replied | 13/07/2016

(cost of asset-salvage value)/life of asset

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Rahul replied | 20/07/2016

(Purchase price of asset +installation & other exp relating to purchase of asset as per AS-scrap value/no. of years of its economic life of asset. Each year depreciation charged will be equal amount.

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Vg.manikandan 18/03/2016 in  BCom Tuition

What is a Bank Reconciliation Statement?

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Ankit replied | 05/05/2016

BRS is prepared on a particular date to match the balances shown in the cash book and pass book. there may happen certain transactions of which either bank or the proprietor may not be aware and thus, causing mismatch between the balances of pass book and cash book.

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Amit Kumar replied | 05/07/2016

BRS is a statement which is prepared for matching the difference between cash book and passbook.

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Melvin 18/03/2016 in  BCom Tuition

What is a Balance Sheet? Why is it prepared?

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Jeemon replied | 18/04/2016

Balance Sheet is a Statement of Account and which is prepared to find out the Financial Position of a company as on a particular date

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Sanjay replied | 20/04/2016

Balance sheet is a detailed report on the profitability and wealth standing of a company, must be prepared each year in cases of companies, registered partnerships etc., this presentation help the internal stake holders (management, shareholders, employees) and external stake holders (prospective investors, suppliers, lenders etc.) take their decisions regarding business or business...  more»
Balance sheet is a detailed report on the profitability and wealth standing of a company, must be prepared each year in cases of companies, registered partnerships etc., this presentation help the internal stake holders (management, shareholders, employees) and external stake holders (prospective investors, suppliers, lenders etc.) take their decisions regarding business or business association with the company. «less

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Manu 18/03/2016 in  BCom Tuition

What are adjustment entries?

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Parimal replied | 15/04/2016

Adjustment entries are passed for the following reasons :
1. To provide for accrued, unaccrued incomes & outstanding & prepaid expenses respectively at the end of the year to conform to ACCRUAL fundamental assumption of accountancy.
2. To rectify the errors of previous accounting periods in current accounting period.
3. To give effect to change in accounting policies...  more»
Adjustment entries are passed for the following reasons :
1. To provide for accrued, unaccrued incomes & outstanding & prepaid expenses respectively at the end of the year to conform to ACCRUAL fundamental assumption of accountancy.
2. To rectify the errors of previous accounting periods in current accounting period.
3. To give effect to change in accounting policies having retrospective effect on the financial records. «less

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Subroto replied | 15/04/2016

Adjustment word means to adjust. So broadly it is called. Party pays advance on raising a sale bill the advance is adjusted, The entry passed is called adjustment also.Similarly transfer of amount from one personal account to another personal or one real account to another real account is also called adjustment. These entries need not be passed only on last day but anytime of the year.

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Bonita 18/03/2016 in  BCom Tuition

What are the important things to be remembered while preparing a bank reconciliation statement?

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Vinod replied | 28/04/2016

Students should be taught the logic behind adding & subtracting the amount from the given balance rather to only remember the + or - otherwise student may not be able to solve the tricky problems.

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Vishwak replied | 04/05/2016

Firstly, you need to understand that

In cash book: Debit side records the money received by customer( increases the cash balance) and credit side records the payment ( decreases the cash balance).
In bank pass book:Debit side records the money payments made by bank on behalf of customer( decreases the bank balance) and credit side records the money received by...  more»
Firstly, you need to understand that

In cash book: Debit side records the money received by customer( increases the cash balance) and credit side records the payment ( decreases the cash balance).
In bank pass book:Debit side records the money payments made by bank on behalf of customer( decreases the bank balance) and credit side records the money received by bank on behalf of customer ( increases the bank balance).

In cash book, Debit balance is favourable balance whereas in bank pass book Credit balance is unfavourable balance.

In the given question, first understand which balance is given and which balance is to be arrived.
Then, for each transaction you must see which balance is more.

For eg: In the problem u have been given cash book balance and u are required to arrive at bank book balance. In that case if a transaction makes the cash book balance greater than bank pass book, then you should subtract.and if a transaction makes the cash book balance lesser than bank pass book then you should add that amount to cash book balance. «less

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Krishn 17/03/2016 in  BCom Tuition

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Deepak replied | 11/06/2016

First of all understand what is depreciation?
Depreciation is a reduction in the book value of asset because of wear and tear,use,obsolescence.

We charge depreciation to:-
Present true and fair view of financial position,to ascertain true results of operations,to comply with legal requirements etc.

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Amit Kumar replied | 05/07/2016

To follow matching concept....and to show the asset at exact market value

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Brunda 17/03/2016 in  BCom Tuition

How is the income statement linked to the balance sheet?

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Sai Kumar replied | 25/05/2016

The business runs to earn profit (revenues minus all expenses). This profit is to be repaid to the owners of the business. The net profit (from P&L) gets added to Capital as a liability (Business needs to pay this to the Owner)

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Deepika replied | 29/06/2016

The bottom line of the income statement is net income. Net income links to both the balance sheet and cash flow statement. In terms of the balance sheet, net income flows into stockholder's equity via retained earnings.

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Sudha 17/03/2016 in  BCom Tuition

Does Revenue Expenditure affect the profitability statement in a period?

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Ms replied | 18/03/2016

Yes

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Cma replied | 31/03/2016

Yes it does

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Anil Sundar 16/03/2016 in  BCom Tuition

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Amandeep Singh replied | 14/07/2016

capital which is required to meet daily expenses of running business..it is calculated current assets-current liabilities.

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Mani replied | 20/07/2016

It is a Blood for running a Business Body. Working capital is required to meet daily expenses in the business. With out working capital we can't do anything in the business. so very vital role play by the working capital.

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Amandeep Singh replied | 14/07/2016

because you are not receiving cash against the sale which means your debtors are increasing.In hindi we can say that paise ka na aana bhi jana hota hai.

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Rahul replied | 20/07/2016

Increase in account receivable means that you will not receive cash on sale immediately but later on I.e. holding of cash now and reduction in cash

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Abdul 16/03/2016 in  BCom Tuition

How is it possible for a company to show positive net income but go bankrupt?

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Mahendra replied | 19/05/2016

In Europe: One of the main reasons companies, with a positive net.
income, going bankrupt is when banks stop the credit facilities of the company.
Due to the current crisis banks are cutting credit facilities, and for the company going to another bank is impossible, because they do not give credit facilities either.
Example: Dozens of NL farmers went bankrupt because...  more»
In Europe: One of the main reasons companies, with a positive net.
income, going bankrupt is when banks stop the credit facilities of the company.
Due to the current crisis banks are cutting credit facilities, and for the company going to another bank is impossible, because they do not give credit facilities either.
Example: Dozens of NL farmers went bankrupt because Deutsche Bank stopped with all small-business related loans in NL, and the farmers could not find any other bank to take over the credit facilities. «less

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Prasad replied | 24/05/2016

Bankruptcy is related to covering of liabilities with assets.Company with positive income may not be able to settle debt if it has insufficient assets

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Sivaganesh 16/03/2016 in  BCom Tuition

How can I calculate accrued vacation pay?

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A.sunderraj replied | 04/04/2016

Accrued vacation pay is the amount of vacation pay which has been earned by the employee but has not yet been paid to the employee.

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Rajashri Meenakshi replied | 17/06/2016

Accrued vacation pay is the amount of vacation time that an employee has earned as per a company's employee benefit policy, but which has not yet been used or paid. This is a liability for the employer.

The following discussion of accounting for accrued vacation pay can also be applied to holiday pay. The calculation of accrued vacation pay for each employee is:

Calculate...  more»
Accrued vacation pay is the amount of vacation time that an employee has earned as per a company's employee benefit policy, but which has not yet been used or paid. This is a liability for the employer.

The following discussion of accounting for accrued vacation pay can also be applied to holiday pay. The calculation of accrued vacation pay for each employee is:

Calculate the amount of vacation time earned through the beginning of the accounting period. This should be a roll-forward balance from the preceding period. This information can be maintained in a database or electronic spreadsheet.
Add the number of hours earned in the current accounting period.
Subtract the number of vacation hours used in the current period.
Multiply the ending number of accrued vacation hours by the employee's hourly wage to arrive at the correct accrual that should be on the company's books.
If the amount already accrued for the employee from the preceding period is lower than the correct accrual, then record the difference as an addition to the accrued liability. If the amount already accrued from the preceding period is higher than the correct accrual, then record the difference as a reduction of the accrued liability.
Example of Accrued Vacation Pay
For example, there is already an existing accrued balance of 40 hours of unused vacation time for Fred Smith on the books of ABC International. In the most recent month that has just ended, Fred accrued an additional five hours of vacation time (since he is entitled to 60 hours of accrued vacation time per year, and 60 / 12 = five hours per month). He also used three hours of vacation time during the month. This means that, as of the end of the month, ABC should have accrued a total of 42 hours of vacation time for him (40 hours existing balance + 5 hours additional accrual - 3 hours used).

Fred is paid $30 per hour, so his total vacation accrual should be $1,260 (42 hours x $30/hour). The beginning balance for him is $1,200 (40 hours x $30/hour), so ABC accrues an additional $60 of vacation liability.

Use it or Lose it Policy
What if a company has a "use it or lose it" policy? This means that employees must use their vacation time by a certain date (such as the end of the year), and can only carry forward a small number of hours (if any) into the next year. One issue is that this policy may be illegal, since vacation is an earned benefit that cannot be taken away (which depends on the law in each state). If this policy is considered to be legal, then it is acceptable to reduce the accrual as of the date when employees are supposed to have used their accrued vacation, thereby reflecting the reduced liability to the company as represented by the number of vacation hours that employees have lost.

Pay Raise Effects
What if an employee receives a pay raise? Then you need to increase the amount of his entire vacation accrual by the incremental amount of the pay raise. This is because, if the employee were to leave the company and be paid all of his unused vacation pay, he would be paid at his most recent pay rate. If a company awards pay raises to all employees during the same time period in each year, this can result in a sudden jump in the vacation expense accrual.

Sabbatical Effects
There may be situations where a sabbatical leave is granted so that an employee can perform public service or research that benefits the employer in some manner. In this situation, the compensation paid to the employee is not related to prior services rendered, and so should not be accrued in advance. In the more likely event that a sabbatical is based on prior services rendered, the employer should accrue the cost of the sabbatical during the required service period. «less

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Nandita 15/03/2016 in  BCom Tuition

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Rajan replied | 02/07/2016

equity in the conext of company means equity capital. holders of equity shares are owners of unit.

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Anu replied | 05/07/2016

Equity means capital of a firm... it is also called a s owner capital...it is raised by inviting public... equity also give benefit of trading on equity.... equity gets more benefit at the time of more profit ...equity gets oll d money after debt imterest & prefrence dividend ...they have a right of voting in a meeting....

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. 15/03/2016 in  BCom Tuition

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Rahul replied | 09/06/2016

Long-term debt consists of loans and financial obligations lasting over one year.

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Kapil Dev replied | 09/06/2016

Long term debt is debt which is payable after period 12 months.

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