Why companies need an Accounting?

                              Accounting is necessary for the company because to analyses their business, firm or company is running in profit or loss. In the end of financial year the financial report is presented by the accountant to the management.

In the world, any company which is doing any business they are also maintained account on different basis but the main motto is to prepared /maintained their books in proper way and find out company earned profit or loss during the financial year. First of all we understand the concept of accounting “any give or take from society or person in monetary and non- monetary (credit)” it includes a transaction between them. After that classification and recording process of financial data relating to business operation in an orderly system is called “Book-Keeping”. The transaction between two parties of sale or purchase of goods on credit or cash accounting classified and systematically recorded in particular books (accounts).

                                        Accounting is also known as business Language to communicate all workings of company in financial terms. For example: - Goods sold on credit by Mr. X to Mr. Y of Rs. 100000/- and Mr. X is given a discount of Rs. 1000 /- , then the sales of good amount Rs. 99000/- credit on Mr. Y. Suppose Mr. Y returned some goods as damage of Rs. 9000/- The Mr Y have credit of Rs. 90000 paid to Mr. X.  This is a very Short example to describe the need of accounting in company because any people cannot memorized huge amount of transactions done day to day in company.

 The companies or firms needed accounting to know the following information during the period of business:-

1. How much will be earned the total earnings during the period.

2. What are the expenditures during the period like salaries, wages, electricity, insurance, taxes, telephone etc.

3. Profit or loss earned during the financial year.

4. How much the required capital or its causes of increases or decreases in capital.

5. Natures and value of assets possesses by the business.

6. Natures and amount of liabilities.

7. Suppliers to whom the business has to make payments and the amount in each case.

8. Proper filings of sales tax and income tax returns.

                                             Above mentioned points are the basic needs of company from accounting. There are some many function are which are done by accounting like raising of funds for company by show the financial position or raise the funds from banks as loan or public issues of shares, and also make a comparison between the previous year and current year financial positions on cost, expenses, sales, purchase, net profit /loss.

Though the accounting the company financial position increases the goodwill of company. Goodwill is most important fact for a company because its shows the reputation of company in the market. It is also protect the property of company as maintaining a proper list of assets and liabilities are used at the end of year verification is done.

New Mobile Operating System: iOS – 7

  In mobile world there are different types of operating system available such as Symbian’s, java, androids etc. Mobile companies provided various facilities to their customers and timely updated the versions of their software’s. Recently the Apple company launches there latest version of operating system for mobile device i.e. iOS – 7 with different latest features. Apple company has faces the huge competition from Android, blackberry or windows OS. The question arises for the users are on which devices or phones this OS is available and supported devices. It’s available on I- Phone -4, I- Phone -4S, I-pad 2, 3, 4, Mini, I- Pad 5 Touch 5Gsupported and automatically updated in free of cost.

 From the new version of operating system of Apple mobiles the youngsters getting a new refreshing experiences. The features of new iOS – 7 are:-

   

•  Exciting Effects: - In new OS the changes are made according to the user interface, new look (flat) of icons with color pad. Looking good new fonts on apple screen. In user interface the layering effect as like windows 8. Trans luting background applying is stylish.

• Multitasking feature: - The process of switching between the apps is called Multitasking. In new OS before open any apps, content it automatically updated. When you are double press on home button you view the preview.

• New Options for Camera: - Before the i - phones users are downloading and user the third party apps for camera but in new OS it’s not required, through it you can click the video with still, paranorma, square features. Along with this many autistics features are available like retro, black & white, filters etc.

• Easy Ways of File Sharing: - With the use of share button, a new window is open and share sheet is open where you can share files, data, videos via emails, Bluetooth I cloud, SMS etc. With the airdrop app transfer data’s in nearest iOS-7 phone with using Bluetooth and Wi-Fi.

• Fast Browsing: - In new OS the browsing of internet is improved with high speed. When using the safari the buttons and bars are hidden and see the large and clear contents on phone. When you type or enter any URL search field the safari automatically find the closest term result, the view style of open page is change and reading list feature available in through it you can read articles very quickly.

• Make More Powerful Apps Find my Phone:-  When you lost the phone don’t worry, if in your phone the apps is installed “find my phone” because through it who’s one find the phone can’t ever use or not to be sold. Anybody who wants to sold and use the mobile is first is to erase the data. For erasing or reactivating the phone Apple id or password is necessary. When he is remotely erase the data, on phone screen a message is displayed.

• Password Manager: - in new OS i- cloud kitchen feature is provided for remember the password of user id, names, and credit card numbers. It’s highly secured feature, when you are make an account, then the password generator suggest a unique password when select them I cloud feature a save your account name and password also.

• Control Center: - In control center you can control or manage the applications. For that, users can swipe on screen when the screen locked you can use it. User can go to the different mode like airplane, Wi-Fi on/ off, do not disturb options. 

          For More Read Here       

Plan of Your Retirement

In this world, every person who are in any profession as jobs, business, politicians at a certain time they are get the retirement from their jobs or professions so, this is better to plan your retirement before you lose the time and use yours savings in good investment plans for not take money from  any one like relatives, friends etc. In current period the inflation rates also high from which the middle men are facing several many problems. They are doing all things managed in their monthly income i.e., Salary but there salary is increase lower rate in comparison to inflation rate. For any propose like children education, marriage, home etc. if they get the loan from bank then they are revolve around the cycle of salary and EMI.

 

1. No Debts from Anyone: - This is most important point for an individual or employee’s who are near of their retirement period to clear or paid their loan installment (EMI) taken form any sources like relatives or banks. If you are not pre-planned for the investments or yours savings than the banks pressurized for unpaid amount or undertake your mortgage security. After the retirement for happy living it is necessary not left a single debt on your head and also on your family members.

2. Make Plan for Ground Level Needs: -Before the retirement period everyone show you a helping nature but after retirement they not provide you any help in monetary terms. In this step you are planned the general needs and facility of family members after the retirement. Mange the funds or income for the children’s educations, home, cars in a suitable manner from which can use in any certain time period when you feels problem. You can invest the fund in mutual fund investments for management of the lifestyle of family or marriage of the children’s.                                                

3. Regular Income Sources: - In the profession or employed time period you are spend huge amount as you wish but at the time when you come to near the retirement age 45-55 years planned for the future because if you cross the age death line you and your family faces many problems. So please this kept in mind before planning any schemes. Investing in the different schemes like mutualfunds, PPF, NSC etc. from which you get the regular sources of income or do some savings as possible you cannot buy some unnecessary goods. Make a habit of saving a fixed amount suppose if you save Rs. 1000/- per month at the end of year you get Rs. 12000/- per annum and invest this saving in good scheme for better outputs.

 Lastly, we can say that those person who are not aware about their retirement or not secured there happy life, so don’t spent the time and making a good planning for providing good facilities to your children’s and family persons. Keep avoiding any loan or debt from bank if any loan is taken or exits in current period as soon as possible cleared them because it effects on your monthly income source.

Current Affairs SET -1 2013

1. What is the name of the “Iron Lady” of Manipur Who has completed 12 years of indefinite fast demanding repeal of the Armed Force Special Powers Act (AFSPA)?      Irom Sharmila

2. A new Integrated Terminal Building of Swami Vivekananda Airport at _______ has been dedicated to the nation recently by The President of India, Pranab Mukherji.     Raipur

3. Joaquim Barbosa was officially nominated to become the first black president of Supreme Court of __________country?           Brazil

4. A bronze statue of one of the prominent leaders was unveiled in a Florida town by former President A.P.J. Abdul Kalam, Who was he?   Mahatma Gandhi

5. Which Country successfully launched two experimental satellites to test its domestically developed components, recently?     China

6. The global urban population is estimated to be 6.3 billion by which year?  2050

7.  How many NRIs have been honoured for promoting Hindi in the UK on the occasion of ‘Hindi Diwas’ organized by the international Hindi Society?          Five

8. In which country is Welikada prison located?     Sri Lanka

9. Who has been appointed as Director General (Investigation), National Human Rights Commission?         Kanwaljit Deol

10. What is HD 40307g?         Planet

11. Pranay sahay has been appointed Director General of ________.     CRPF

12. Which state government has recently announced to set up Rural Administrative Services?        Assam

13. Who is Ms. Julia Gillard?       Australian PM

14. Who is the Prime Minister of Belarus?     Mikhail Myasnikovich

15.’Vatsalya Mela’ is annually organized in ___________.       New Delhi

16. Who has taken over as the Minister of States for Tribal Affairs?     Ranee Narah

17. National Integration Day is celebrated on _______ to mark the birth anniversary of Late Indira Gandhi, the first women Prime Minister of India.        19 th November

18. Manoranjan Baruah, who recently passed away, was a well-known __________. Lyricist

19. Renowned Polish film maker Krzszt of Zanussi was honoured with the prestigious lifetime Achievement award at the ___________ International Film Festival of India (IFFI) in Goa.  43^rd

20. Kuki State demanded Committee was formed on 2^nd November _______.        2010

21. Who has taken over as the Minister of States for Tribal Affairs?       Ranee Narah

22. India and _________discussed bilateral Cooperation in transport sector.      Switzerland

23. Who took over as Minister of State for Agriculture and Food Processing Industries?     Tariq Anwar           
 24. Who took over as minister of state (Independent Charge) in the Ministry of Youth Affairs and Sports?          Jitendra Singh

25. Jaspal Bhatti died in a road accident. Who was he?         Actor Satirist

26. Planning Commission has given investment clearance for the scheme “Khuga Multipurpose Project (Medium Revised) of __________”.      Manipur

27. Who took charge of the Union Minister for Social Justice & Empowerment?        Kumari Selja            

28. Who has assumed the office of the Director General, Gentral Public Works Department, Ministry of Urban Development?            Rakesh Mishra

29. India and ___________ signed an Audio visual Co- production Agreement seeking to improve co-operation in the audio visual sector.          Spain

30. Who is C. S. Verma ?         Chairman of SAIL