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Accounting Information System (AIS)

Wall Street Mojo

What Is Accounting Information System? For example, AIS may be a very simple ledger for various accounting, costing, and financial reports like Statement of Profit and Loss, Balance Sheet, etc. Table of contents What Is Accounting Information System?

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Single Entry System of Accounting

Razorpay

Accounting is the process of recording all financial transactions of a business over its lifetime. There are two major kinds of accounting. In this blog, we will discuss the single entry system of accounting. The single-entry method is the foundation of cash-basis accounting. This is the single entry accounting system.

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What is Accounting?

Razorpay

What is Accounting? Accounting is the process of recording a business’s financial transactions. The objective of accounting is to prepare financial statements like the Balance Sheet, Cash Flow Statement and Income Statement which give detailed insights into the financial performance of a business. How Does Accounting Work?

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Tax Accounting

Wall Street Mojo

What Is Tax Accounting? Tax accounting refers to the methods and policies used for the preparation of tax returns and other statements needed for tax compliance and therefore, it provides frameworks and guidelines for arriving at a taxable profit. Table of contents What Is Tax Accounting?

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Trial Balance

Wall Street Mojo

Trial Balance Meaning Trial Balance is the report of accounting in which ending balances of a different general ledger of the company are and is presented into the debit/credit column as per their balances, where debit amounts are listed on the debit column, and credit amounts are listed on the credit column.

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Selling an Insurance Agency Book of Business

Sica Fletcher

The following article details the process of selling an insurance agency book of business in 2024, including deviations from the process of selling an agency, the valuation process, and common payout structures. Why Sell Just the Book? Selling an insurance agency book of business has a few advantages over selling the agency in total.

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What is a Merchant Account? How to Get a Merchant Account?

Razorpay

Once you have set up a business account, it is important to set up an online merchant account as well. Well, in today’s world of growing technology, customers hardly carry around cash or cheque books in their wallets. But what is a merchant account? Let’s read further to learn everything about merchant accounts.