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Share Capital
Basics 2 min read

Share Capital

No trading concern can run without capital. The divisions of share capital are: (i)                Nominal or Authorized Capital. The amount of…

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Books of Account
Basics 1 min read

Books of Account

Every company is required to keep at its registered office books of account. These books are to be maintained in…

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Statutory Books
Basics 2 min read

Statutory Books

Statutory books are those which a limited company is under statutory obligation to maintain at its registered office. The main…

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Balance Sheet
Basics 3 min read

Balance Sheet

A Balance sheet is like a “snapshot” that gives you the overall picture of the financial health of a company…

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Income & Expense Accounts
Basics 1 min read

Income & Expense Accounts

Income Accounts These accounts are used to track income earned during the process of operating your business. The income of…

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Income Statement
Basics 1 min read

Income Statement

An Income Statement is also called a Profit and Loss Report. In addition, the word Revenue is often used in…

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Managing Payroll
Basics 2 min read

Managing Payroll

Payroll Records An employer, regardless of the number of employees, must maintain all records pertaining to payroll taxes (income tax…

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Break-Even Point
Basics 2 min read

Break-Even Point

One of the first steps in evaluating a business is determining your break-even point. This is the number of units…

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