Accounting what actually is??

What is accounting you know this term??? It’s okay if you’re not clear by this because I will tell here very easy way that will make your concept very clear, not only this I will also tell you that how to maintain your daily life record by which you will come to know actual expenses occur in your life

So the word Accounting means,

So from above you will be clear that what is accounting actually, in simple we can say it is systematic way of recording financial transaction, (financial transaction mean that things which involve money)

In business One Part of accounting is focused on external side as everything is prepared under that is for presenting to people outside of the company, like income statement, financial statement, Trial balance, Balance sheet are for general purpose, This type of accounting which is for the outside for people is called financial accounting,

There is another form of accounting that purely related with the internal side, the purpose of this accounting form is organization’s financial conditions remain healthy and it provide clear picture to upper management for making effective and efficient decision, this form is called Cost or Management accounting, it is secret for a company reports occur here cannot be share with outside of the company,

So it was little introduction of Accounting let’s have look on daily record maintenance of daily life, Many people start business at their home or day spent their salaries but they do not how they spent all, for knowing this all you must record all the things, so now you may have question that you will not get time for this, remember this till you will not manage will not get time, you have to find time,

So here I am just telling you about a simple format make such easy format and keep record that will not only give you clear picture of your expenses but will improve you planning, spending, maintaining and other skills as well, Example:

It was simple look, as I told you before till you will not get effort will not be able to fulfill anything so manage your time, make your month, week, days even hours plans, in next article I will tell some other tips related with Accounting,

If You want get success start from managing yourself than Enjoy Your life,