A positive mindset helps aspirants: Stay motivated and focused on their goals Approach challenges and obstacles with a problem-solving attitude To be an aspirants:- Maintain a healthy work-life balance and avoid burnout. Develop resilience and bounce back from failures or setbacks. Cultivate ...
The main difference in accrual based accounting and cash based accounting is in the timing of when revenues and expenses are recognized. In accrual based accounting, revenues and expenses are recorded when they are incurred, and before the cash transaction happens. This method follows the matching cRead more
The main difference in accrual based accounting and cash based accounting is in the timing of when revenues and expenses are recognized.
In accrual based accounting, revenues and expenses are recorded when they are incurred, and before the cash transaction happens. This method follows the matching concept, which ensures that the revenues and their expenses are recorded in the books of accounts in the financial period. Accrual accounting provides an accuracy of a company’s financial position and performance because it involves accounts receivable and accounts payable. For example, if a company delivers goods in December but receives payment in January, the revenue is recorded in December under accrual accounting.
In Cash based accounting, revenues and expenses are recognized only when the cash is actually received or paid. It is simpler and often used by sole proprietorship and individuals because it gives a clear view of cash flow. For example, Under cash accounting, the revenue would be recorded in January when the payment is received, not when the goods were delivered.
Both the methods have their own pros and are chosen to their specific needs and requirements of the business.
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Uncertain about the Exam System and Curriculum: Get to know examination pattern and syllabus including preliminary, mains, and interview levels. Know in detail what each subject and stage entails. Develop a Study Schedule: Create a reasonable duration for all subjects which should involve time for rRead more
Uncertain about the Exam System and Curriculum: Get to know examination pattern and syllabus including preliminary, mains, and interview levels. Know in detail what each subject and stage entails.
Develop a Study Schedule: Create a reasonable duration for all subjects which should involve time for revision as well as practice. Come up with your daily, weekly, and monthly goals. Read Books and Materials Prescribed by Board: Follow recommended books related to each subject among standard textbooks. Current affairs magazines and online resources enhance your reading materials.
Keep Track of Current Affairs:
Go through newspapers on a regular basis while also following reliable news sources.
What happened during these events? What do they mean for the exam course?
Take Notes Regularly While Also Revising Often: Prepare short notes for each topic using minimum words possible.
Regular review is very important in remembering things better as well as understanding them deeply
Practice Writing Skills: To improve your answer writing skills solve previous year’s papers & take mock tests on it. Concentrate on being clear, having good structure, expressing oneself properly
Join Coaching or Online Courses (if needed): Consider joining coaching classes or taking online courses to be guided in an organized manner.Engage yourself into group discussions with fellow mates.
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