Top Excel Financial Formulas
Here are the top excel financial formulas that will help you productively use the office application (i) XNPV (ii) XIRR (iii) MIRR (iv) PMT (v) EFFECT (vi) IPMT (vii) DB (viii) RATE
What is Financial Audit?
What is a financial audit? A financial audit is an independent review and examination of a company’s financial statements and records. The purpose is to provide assurance that the financial statements accurately reflect the financial position. This is typically done by an independent accountant or firm and is required by law for publicly-traded companies. The …
Specific sector: Hospitals
Audits of hospitals are to be done considering these points in mind. (i) Verify the register of patients (ii) Collection of cash (iii) Income from investment, rent, etc. (iv) Legacies and Donations (v) Reconciliation of subscriptions (vi) Authorization and sanctions (vii) Grant (viii) Tax Deducted at Source (ix) Budgets (x) Internal Check (xi) Depreciation (xii) …
Audit of Cash and Bank Balances
What are Cash and bank balances? Cash and bank balances refer to the amount of money that a person or company has on hand in the form of physical cash, as well as the amount of money that is held in checking, savings, and other types of bank accounts. The term “cash and bank balances” …
Audit of Receivables
What are Receivables? Receivables are amounts of money that are owed to a person or company by customers or clients for goods or services that have been provided. In other words, receivables are amounts that are expected to be paid in the future as a result of transactions that have already taken place. As a …
Audit of Payables
What are Payables? Payables are amounts of money that a person or company owes to suppliers, vendors, or other creditors for goods or services that have been received. In other words, payables are amounts that are due in the future as a result of transactions that have already taken place. These amounts may be due …
Top Excel General Formulas
Here are the top excel formulas that will help you productively use the office application (i) SUM (ii) AVERAGE (iii) XLOOKUP (iv) VLOOKUP (v) HLOOKUP (vi) COUNT (vii) CONCATENATE (viii) SUBTOTAL (ix) MODULUS (x) LEN (xi) REPLACE (xii) POWER (xiii) CEILING (xiv) FLOOR
How to create a receipt voucher on Tally
Receipt Voucher A receipt voucher is a document that confirms that a payment has been received. It typically includes the name of the payer, the amount of the payment, the date the payment was received, and the purpose of the payment. A receipt voucher may also include the name of the person or organization that …
How to retrieve Trial Balance on Tally
Trial Balance A trial balance is a financial statement that lists all of the accounts in a company’s general ledger and their balances at a specific point in time. The purpose of a trial balance is to ensure that the total of all debits equals the total of all credits, indicating that the company’s books …
How to create a journal voucher on Tally
Journal Voucher A journal voucher is a document used to record a financial transaction in a company’s general ledger. It typically includes information about the transaction, such as the date of the transaction, the accounts that were affected, and the amounts involved. Journal vouchers are used to record transactions that cannot be recorded directly in …