Professional services firms, such as law firms, accounting firms, and consulting firms, have unique accounting requirements compared to other businesses. They deal with intangible assets, such as intellectual property and knowledge-based services, which require specialized accounting practices. In this article, we will discuss accounting for professional services firms. Accrual Accounting Professional services firms generally use…
Category: Accounting and Book-keeping
What constitutes an book keeping and accountancy services?
Book keeping and accountancy services are essential functions that help businesses to manage their financial records and operations. These services involve a variety of tasks and responsibilities, which are outlined below. Bookkeeping: Bookkeeping is the process of recording and maintaining financial transactions in an accurate and organized manner. This includes tasks such as recording sales,…
Things to know about Accounting and bookkeeping services
Accounting and bookkeeping services are essential for any business, regardless of size or industry. These services help businesses to manage their financial records, keep track of their finances, and comply with legal and tax requirements. In this article, we will discuss some of the key things to know about accounting and bookkeeping services, including the…
Common Errors that Can Be Expected in Bookkeeping Activities
Errors in online bookkeeping are common during a business’s early years. Even if you are unable to study accounting, you can still avoid making these costly errors. Following is a rundown of five normal errors entrepreneurs make while doing their own accounting as opposed to recruiting an accounting and bookkeeping firm. Putting things off Business…
Overview About Company Annual Compliance
Companies must adhere to certain laws, rules, and regulations regardless of whether or not they are subject to them. In accordance with a variety of statutes and other regulatory bodies, businesses that were incorporated and registered under the Companies Act 2013 or prior laws must ensure regular compliance. Regardless of turnover, ROC filing is required….
Your business can benefit from a bookkeeper in five ways
If you run a very small business, you might be the bookkeeper – at least until you can afford to hire someone. Your business will start to make sense when it reaches a certain size to hire someone to do the bookkeeping. Accounting & bookkeeping services can assist you in five ways: Allows you to concentrate…
Concepts, Objectives, Types & Methods of Cost Accounting
An accounting cost is the cost of a company’s processes, services, products, or other activities. In this way, the organization is able to manage costs, plan strategically, and make cost-effective decisions. Managers have access to expense data through financial reports and ledgers. In order to develop a vision and long-term strategy, management must identify areas…
FAQ on Provisional Patent Application
This blog will answer all your questions about filing a provisional patent application online. In a provisional application, what should the inventor’s name be? Inventors are those who create at least one claim (i.e., complete the mental embodiment). When someone is an inventor, they do not simply apply an inventive idea (without contributing any conceptual…