Exchange of goods and services with money are happening in every business. An entrepreneur must be aware, if he is making profit or loss. Maintaining accounts of all transaction is very much important in daily business. It is also required for audit and Govt. taxation purpose. Banks need audited information while evaluating loan proposals. Therefore, it is very much important to learn about accounts to become successful.
After reading this lesson, you will be able to :
- know good accounting practices;
- learn about estimate, quotation, budget, cash-flow statement, balance sheet and profit and loss account of business