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CONTENTS

1.Introduction

2.Understanding The Importance

3.Key Aspects of Accounting

4.Major Areas of Accounting

a.Accounts Receivable

b.Accounts Payable

c. Treasuries, d. Payroll

e. Inventories, f. Fixed Assets

g. Statutory Compliances

h. Book Closing & MIS Reporting

6.Initial Setup Process, Myths of Accounting

7.Myths of accounting

8.Do’s and don’ts

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Accounting is the process of systematically recording, measuring, and communicating information about financial transactions. Accounting also involves the process of summarizing, analyzing and reporting these transactions to oversight agencies, regulators and tax collection entities. An organization cannot remember all its dealing for long. Therefore, it becomes necessary to keep a written record of all business transactions day by day, this lead to the development of accounting.

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"Keep this guide as your starting introduction towards starting & managing your business and consult with me for any of your challanges in managing, controlling or growing your business to next level. Keep faith in you & always say that YES, I CAN DO IT."

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