HSC Accounting-English Version

Can You Guys tell me why Accounting is called an Information System?

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What is working capital?

Working capital is the amount or fund that a business need to meet operating expenses and short term debts. Management of Working capital is one of the most crucial part of financial management.

Working Capital is found when Current liabilities are deducted from Current assets.

To Calculate working capital ratio. We use following formula

Working Capital/ Current liabilities.

Standard ratio for this ratio is 1:1

It is mainly obtained or calculated to check short term solvency of the organisation. In another way, we can say it is checked for evaluating financial ability of full filling short term debt.

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Few Accounting Principles that you need to
know as a student of Accounting.

Accrual principle
Conservatism principle
Consistency principle
Cost principle
Economic entity principle
Full disclosure principle
Going concern principle
Matching principle
Materiality principle
Monetary unit principle
Reliability principle
Revenue recognition principle
Time period principle

Try to read them out with explanation and full understanding.

Finance doesn't mean only managing or Sourcing funds. It also ensures perfect utilization of managed or collected funds.

Hello, Learners !

Never forget below given basic formula.

Sales - Cost of Goods Sold = Gross Profit

Gross Profit-Other Expenses = Net Profit

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Let's learn something tonight.

Profit Maximization and Wealth Maximization are two important terms of finance. What are those actually?

Profit Maximization : Profit maximization is simply increasing the amount of profit. When firm focuses on profit maximization, they just try to increase the amount of profit.

Wealth Maximization: In this concept, Firm struggles for increasing the price of shares. When share price increases, value of owners' assets also increases.

Perfection is always "Work In Progress".

So, Never stop working and learning.

Principle of Economic Entity: This principle says that business and it's owner(s) are not same. Business itself owns a separate entity. That's why business transactions must be treated and kept separately from the transaction of it's proprietors.

Because of this principle, we count everything that owner brings in business as well as all the things(both money and product) that owner take out (withdraw) from the business

Few Important Acts:-

Company Act- 1994
Partnership Act-1932
Bank Company Act- 1991
Contract Act -1872