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What’s there in Accounting?

Accounting is the systematic recording, interpretation, analysis, and presentation of financial information. It can be done by an individual in a small business, or by various teams in large organizations.

Accounting is the way a business monitors its operations. Usually, accountants analyse the finances of the business so that owners can make better decisions. This information is organized into reports that reflect the financial health of a business. So, is done by us. 

We, Tech Munshi are a professional accounting company in Noida qualified to work with a spectrum of accountancy-related activities. Out team of experts will implement an accounting system to prepare monthly financial reports, and submit corporate tax returns. Henceforth, we not only deal with big business accounting but with small business accounting too! 

Here are six accounting functions that we follow:

Recordative function

Bearing and containing the record!

This is the basic function of accounting. This task includes the sorting of accounts in the initial books of business, classifying them into appropriate ledgers , that is preparing accounts from them, and preparing works.

Interpretative function

Clarifying statement advertise by an accounting standards group

This work involves the analysis and interpretation of financial statements and reports for parties interested in accounting information. This work of accounting has been considered important from the point of view of third parties and managers. 

Communication function

Provides financial information data

Accounting is called the language of business. Just as the main purpose of language is to act as a means of communication because language is the expression of ideas, accounting provides financial information and other information of the business to all the parties for whom it is necessary.

Meeting legal needs

System uses to summarize, analyse, and record financial transaction

Business needs various compliances under various laws like Companies Acts, Income Tax Act, GST etc., and have to deposit Tax under various Acts like Income Tax act and GST. All these can be done if accounting is maintained properly.

Protecting Business Assets and Identifying Business Liabilities

Accounting is done to protect the business assets and identifying business liabilities

An important function of accounting is to protect the assets of the business. This is possible only when a proper account of various properties is maintained.

Facilitating Decision Making

Analyse the available accounting data

Accounting provides important data and various MIS reports that facilitates decision making.

We as the best accounting company in Noida will help you taking brilliant decisions with your money. Contact us today for any kind of accounting services