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Introduction to Accounting & Balance sheets

Introduction to Accounting & Balance sheets

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Published by Siddhartha Kamat
Introduction to Accounting & Balance sheets
Introduction to Accounting & Balance sheets

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Categories:Types, School Work
Published by: Siddhartha Kamat on Jan 25, 2013
Copyright:Attribution Non-commercial


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By Siddhartha Kamat
ACCOUNTING is the recording, reporting, and analysis of financial transactions of a business.In education "accounting" is learning the rules andregulations and how to perform accounting task, such asfilling out the Balance Sheet, record transactions, posttransactions, analyse, etc. In simple it is learning theaccounting cycle, and how to record & maintainaccounting documents.It is the business language and it has three aspects1)Input2)Process3)Output
There are three ingredients of corporate and these are1)PEOPLE 2)SYSTEM 3)CAPITALAll these three ingredients rotates around the business/project.As the law construction industry comes within the ambit of servicesector but from the accounting it still comes under the category of manufacturing sector because construction industry is also engaged inchanging the shape of raw material and convert them into finishedproduct.At construction industry most of the work performed at project site,so the whole economic activities in construction industry can becategorized in to the following:1)Procurement of resources2)Mobilization of all resources3)Managing all the resources at the site4)Demobilization of resources after completion of the work.

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