BOOKKEEPING

 

Bookkeeping is the process of recording your company’s financial transactions into organized accounts on a daily basis. It can also refer to the different recording techniques businesses can use. Bookkeeping is an essential part of your accounting process for a few reasons. When you keep transaction records updated, you can generate accurate financial reports that help measure business performance. Detailed records will also be handy in the event of a tax audit.

 

ACCOUNTING

 

Accounting is the processor keeping the accounting books of the financial transactions of the company. The accountants summarize the transactions in the form of journal entries. These entries are used in bookkeeping. The books of accounts are prepared by the accountants as per the regulation of the auditors and various regulating bodies. The accountants might follow the Generally Accepted Accounting Principles (GAAP) or the IFRS (International Financial Reporting Standards) principles.

 

BUSINESS MANAGEMENT

 

Business management is the coordination and organization of business activities. Business managers oversee operations and help employees reach their top productivity levels. A business manager may also supervise or train new employees, help a business reach its operational and financial objectives.

 

BUSINESS CONSULTANT

 

A business consultant is an individual who works closely with business owners and managers to improve operations and efficiency. Business consulting includes helping to identify, address, and overcome obstacles to meeting a company’s goals. ‌

 

FINANCIAL ADVISOR

 

A financial advisor helps people create long-term strategies for building wealth and managing risk. They can help you track, manage and balance your investment portfolio. They can also provide helpful advice on lots of other financial issues and decisions, such as taxation, financial planning and wealth managing.

 

TAXATION

 

Taxation is a term for when a taxing authority, usually a government, levies or imposes a financial obligation on its citizens or residents. Paying taxes to governments or officials has been a mainstay of civilization since ancient times. Tax payers consist of individuals and Business corporations. 

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