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Definition of Personal Finance and it's Importance

Definition of Personal Finance and it’s Importance

Personal finance is the process of planning and managing personal financial activities such as incomeAnnual IncomeAnnual income is the total value of income earned during a fiscal year. Gross annual income refers to all earnings before any deductions are made, and net annual income refers to the amount that remains after all deductions are made.…

Complete List of the Top Accounting Softwares Available

Complete List of the Top Accounting Softwares Available

There is a vast array of accounting softwares and financial management solutions, sometimes called bookkeeping software, on the market today, with specialized functionality for almost any industry or size of organization. Moreover, the specific type of accounting can differ between programs—project, fund and fixed asset are examples.Add to this variety the constant change of standards,…

Definition and Importance Of Accounting

Definition and Importance of Accounting

photofriday / Getty Images A strong company can attribute some of its success to its accounting. Without accounting, it would be hard to keep track of your business’s finances and profitability, and you might not know exactly how much money is coming in or going out.Accounting is how finances are tracked. As an individual, you…

The Importance of Stock Exchanges

The Importance of Stock Exchanges

A stock exchange does not own shares. Instead, it acts as a market where stock buyers connect with stock sellers. Stocks can be traded on one or more of several exchanges such as the New York Stock Exchange (NYSE) or the Nasdaq. Although you will most likely trade stocks through a broker, it is important to…

Definition and Types of Financial Statements

Definition and Types of Financial Statements

Financial statements are written reports prepared by company’s management to present its financial affairs in a given period (quarter, six monthly or yearly). These statements include Balance Sheet, Income Statement Cash Flows and Shareholders equity statement and are to prepared following prescribed and standardized accounting principles so that the reporting has harmony at all levels.Financial…