Author: Team BAF

Basically first you should Know how can a Individual be a Chartered Accountant. Traditional Method:- CPT Ipcc Article-ship Ca Final Once you have cleared your CA final, you have to Cross Section 8, of Chartered Accountant Act 1949 Section 8 is nothing but Disabilities for Purpose of Membership. It means that, Even if you have cleared all…

COST SHEET COST SHEET IS THE STATEMENT PREPARED TO CALCULATE:- 1) Total cost of production of product 2) Total profit earned or loss suffered on the sale of product. THE TOTAL COST OF PRODCCT IS DIVIDED IN TWO GROUPS TOTAL COST    (A) DIRECT COSTS (B) INDIRECT COSTS 1. Material cost 1. Factory expenses/ overheads…

Classification of Costs It means the grouping of costs according to their common characteristics. The important ways of classification of costs are: (1) By Nature or Element (2) By Functions (3) By Variability or Behaviour (4) By Controllability (5) By Normality (6) By Costs for Managerial Decision Making By Nature or Element: This type of…

  Lets Understand the History of Cost accounting During World War I and II the social importance of cost accounting grew with the growth of each country’s defence expenditure. In the absence of competitive markets for most of the material required to fight war, the Governments in several countries placed cost-plus contracts under which the…

Internal reconstruction which is carried out without liquidating the company and forming a new one, , there may be external reconstruction. Wherever an undertaking is being carried on by a company and is in substance transferred, not to an outsider, but to another company consisting substantially of the same shareholders with a view to its being…

  When Does a Company needs Internal Reconstruction? When a company has been making losses for a number of years, the financial position does not present a true and fair view of the state of the affairs of the company. In such a company the assets are overvalued, the assets side of the balance sheet…

There is not much difference between the accounts of a partnership firm and that of sole proprietorship (provided there is no change in the firm itself). The only difference to be noted is that instead of one Capital Account there will be as many Capital Accounts as there are partners. CAPITAL ACCOUNT Capital account represents,…

WHY PARTNERSHIP? A partnership is created by individual parties believing they can better achieve their goals by working together. It helps to Add resources (Capital) when Only one is not capable of arranging the entire sum, Also there are many other Patters such as, One partner Brings capital, whereas the other Runs the business. The…

Muhammad Ali (Cassius Marcellus Clay, Jr.), January 17, 1942 – June 3, 2016) was an American professional boxer, generally regarded as the most significant heavyweight in the history of the sport. Early in his career, Ali was known for being an inspiring, controversial and polarizing figure both inside and outside the boxing ring. He is one of…

The University of Mumbai started the Bachelor of Commerce (Accounting & Finance) course in 2003-04. The course not only aims at training students to gain knowledge in the fields related to Accounting & Finance. It is a perfectly designed full time course for aspiring Chartered Accountants & Financial Analysts. The Course is 6 Semesters Long, which…