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Answered on 01/04/2022 Learn MCom Tuition
Chirag Dave
Tutor (For Home/Online Tuitions)
Answered on 18/12/2021 Learn MCom Tuition
Debarshi Gupta
Economics, mathematics and statistics tutor with over 12 years teaching experience
If you are interested in building a career in corporate sector, you may try MBA. If you are interested more in pure accounting you may enroll for CA or costing. If you are interested in becoming financial analyst the best option is to try for CFA.
There are few short term courses as well. Such as certificate in management accounting, short courses that prepare you for banking jobs, tally etc.
It will all depend on your ambitions, aspirations, time and money that you may invest for the purpose.
read lessLesson Posted on 08/12/2018 Learn MCom Tuition
Shezad
Transfer Pricing
It is the price set up by the selling division to buying division for the supply of intermediate goods or services
Transfer price can be
TP=Variable Cost
TP=variable cost + Fixed Cost +profi
TP= Standard Cost
TP= marginal Cost
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Lesson Posted on 05/07/2018 Learn MCom Tuition
Is accountancy science and art? Explain ?
Kousiki Chakraborty
Teaching is my hobby and not my profession. I have around 16 years teaching experience. I started my...
Is accountancy science and art?:--Accountancy plays a very important role in these days of growing commercial and trade. Frequently various laws and Acts like—Company’s Act, M.R.T.P. Act are being changed to meet the various requirements of an economy. So, business, trade, commerce are becoming more and more complex with the changes of business laws and regulations , the role of accountancy is also changing. Accountancy is both science and art. Science means knowledge while art is action or the way of doing a thing in a significant way on the basis of certain accepted principles. Now-a-days , accountancy has so much of practical utility that its theoretical study is overshadowed by its practical application. It has now become a practice-oriented subject. If, we analyse the definitions of accountancy we will find that it is a systematic and scientific record of transactions in a set of books. Recording of transactions is an art which is done on the basis of certain accounting principles.
read lessLesson Posted on 16/06/2018 Learn MCom Tuition
Kousiki Chakraborty
Teaching is my hobby and not my profession. I have around 16 years teaching experience. I started my...
Co branding is the utilization of two or more brands to name a new product. The ingredient brands help each other to achieve their aims. The overall synchronization between the brand pair and the new product has to be kept in mind.
Example of co-branding - Citibank co-branded with MTV to launch a co-branded debit card. This card is beneficial to customers who can avail benefits at specific outlets called MTV Citibank club.
read lessLesson Posted on 25/05/2018 Learn MCom Tuition
A short Concept of Dividend in Accountancy :--
Kousiki Chakraborty
Teaching is my hobby and not my profession. I have around 16 years teaching experience. I started my...
A dividend is a distribution of a portion of a company's earnings, decided by the board of directors, paid to a class of its shareholders. Dividends can be issued as cash payments, as shares of stock, or other property.
When a corporation declares a dividend on its common stock, it will credit a current liability account Dividends Payable and will debit either 1) Retained Earnings, or 2)Cash Dividends Declared. Cash Dividends Declared is a balance sheet account, but it is a temporary account.
The cash dividend affects primarily cash and shareholders' equity accounts. There is no separate balance sheet account for dividends after they are paid. However, after the dividend declaration and before the actual payment, the company records a liability to its shareholders in the dividend payable account.
For Companies, Dividends Are Liabilities. Conversely, the assets of the issuing company are reduced by the payment of a dividend. ... When a dividend is declared, the total value is deducted from the company's retained earnings and transferred to a temporary liability sub-account called dividends payable.
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Lesson Posted on 25/05/2018 Learn MCom Tuition
A short concept of Stock Turnover Ratio in Accountancy:--
Kousiki Chakraborty
Teaching is my hobby and not my profession. I have around 16 years teaching experience. I started my...
Inventory turnover is a ratio showing how many times a company's inventory is sold and replaced over a period of time.The formula is given below:--
Stock Turnover=[Cost of sales / Average stock Held]
If a company has a high ratio (anywhere above 1) then they are capable of paying their short-term obligations. The higher the ratio, the more capable the company. On the other hand, if the company's current ratio is below 1, this suggests that the company is not able to pay off their short-term liabilities with cash.
Inventory Turnover Ratio is the ratio of Cost of Goods Sold / Average Inventory during the same time period. The higher the Inventory Turnover Ratio, the more likely it is that a business is carrying too much inventory. Overstocking means that cash is being tied up in inventory assets for a prolonged period.
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Lesson Posted on 25/05/2018 Learn MCom Tuition
A short concept of Fiscal Deficit in Economics :--
Kousiki Chakraborty
Teaching is my hobby and not my profession. I have around 16 years teaching experience. I started my...
A fiscal deficit occurs when a government's total expenditures exceed the revenue that it generates, excluding money from borrowings. Deficit differs from debt, which is an accumulation of yearly deficits.
A country's fiscal deficit is usually communicated as a percentage of its gross domestic product (GDP).
Deficits are also caused from a decline in revenue due to an economic contraction such as a recession or depression. Unplanned events, such as natural disasters and war, can also cause deficits.
A deficit is the amount by which a sum falls short of some reference amount. Ineconomics, a deficit is an excess of expenditures over revenue in a given time period; in more specific cases it may refer to: Balance of payments deficit, when the balance of payments is negative. Government budget deficit.
The difference between total revenue and total expenditure of the government is termed as fiscal deficit. It is an indication of the total borrowings needed by the government. While calculating the total revenue, borrowings are not included. Primary deficit is one of the parts of fiscal deficit.
Government spending, inflation and lower revenue are among some of the main factors that point to fiscal deficit. But when there is an increase in fiscal deficit it means that the government is spending too much while it is earning less. Hence, it isimportant that the government keeps its expenses under control.
read lessLesson Posted on 07/05/2018 Learn MCom Tuition
Company Accounts - Preparation of Financial Statements
CA Prashanth Reddy
I enjoy teaching and interacting with students. Teaching is my passion, profession and hobby. Every student...
What are the Statutory Provisions relating to the Transfer of Profits to Reserves?
Answer:
As per companies Act, 2013 there is no requirement of minimum transfer of profits to reserves. The company can transfer any amount of profits to reserves as per its own judgement before paying dividends.
Depreciation is calculated from the period when the asset is put to use as per INCOME TAX Act.
Managerial Remuneration: Section 197 AND SCHEDULE V prescribes overall maximum managerial remuneration. Managerial personnel means directors on the board of directors.
Sl. No. | Managerial Personnel | % of Net Profits U/S SECTION 198 (Maximum) |
1. | Overall (excluding fees for attending meetings) | 11% |
2. | If there is one managerial personal | 5% |
3. | If there is more than one managerial personnel | 10% |
4. | Remuneration of part-time Directors: (a) If there is no manager or whole – time director (b) If there is a managing director of whole time director |
3% 1% |
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Lesson Posted on 07/05/2018 Learn MCom Tuition
CA Prashanth Reddy
I enjoy teaching and interacting with students. Teaching is my passion, profession and hobby. Every student...
Dependent Branch: A branch which is dependent upon Head Office mainly for “Goods and Cash”. Books of accounts relating to such branch also will be maintained by Head Office.
Features of Dependent Branch:
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