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Project Scheduling Techniques

Project Scheduling Techniques

No matter what kind of project it is, without proper planning and scheduling, you can never make it successful. That’s why project management has gained massive importance in today’s time. There might be many project scheduling techniques out there, but one thing is quite pertinent that …
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Receipts and Payments Account Explanation, Preparation & Example

Receipts and Payments Account Explanation, Preparation & Example

Not for profit organization do not deal with goods and services nor involve in credit transaction. Mostly their transactions are cash receipt and payment and minimum number of other books which are necessary for required information. These books may include the cashbook, membership register, fee collection …
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Difference between Profit and Nonprofit Organizations

Difference between Profit and Nonprofit Organizations

What is Profit Organization The basic objective of the trading concern is to provide goods and services for carrying profit or maximization of wealth for shareholders. It involves is certain lawful business activities. What is a Not for Profit Organization The basic objective of NPO organizations …
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General Journal Accounting Definition, Entries & Examples

General Journal Accounting Definition, Entries & Examples

Definition The process of recording of transaction in the journal is called passing or journalizing the entry Meaning A general journal is the first accounting record. It is just like a basket in which all accounting transactions are recorded in order of their occurrence. It is …
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The Accounting Process and Issues Explanation and Examples

The Accounting Process and Issues Explanation and Examples

What is Financial Accounting Process The financial accounting process tracks business events and transactions by recording their effect on the business financial position. The end product of this process is the financial statements of the business. In this unit you are introduced to accounts. Accounts is …
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Business Entity Concept in Accounting Explanation and Examples

Business Entity Concept in Accounting Explanation and Examples

Meaning The business entity concept means that business is separate entity apart from its owners. The accounting records are maintained for the business entity. It is important in order to evaluate the performance of the business. A business entity may have many accounting entities in it. …
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Classes of Shares Ordinary & Preference Meaning & Characteristics

Classes of Shares Ordinary & Preference Meaning & Characteristics

There are two main classes of shares: ordinary and preference. There can be a variety of other shares depending upon different rights attached to such shares in the articles of association. A new type of share can be created provided it does not violate the restriction …
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Different Types of Companies Limited by Shares

Different Types of Companies Limited by Shares

There are different company types limited by shares i.e. Private Limited Companies Private limited companies (or privately held corporations) are generally family or closely held businesses. The Companies Ordinance of Pakistan (1984) requires at least two members to establish a private limited company. The maximum number …
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What is Company Meaning, Definition & Characteristics of Company

Meaning A company is a third legal business structure and has entirely a different organizational structure from the sole proprietorship or partnership. Its formation is due to firstly, the sole proprietorship and partnership cannot meet the increased capital demand of industry and commerce. Secondly, the company …
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Forms of Business Organization Features Advantages & Disadvantage

Forms of Business Organization Features Advantages & Disadvantage

Business means the state of being busy. In technical words it is the commercial and industrial activities i.e. the production and distribution of good and services to people and earn profit.  The business activities are usually divided into commerce and industry. In terms of the legal …
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