Karagiri is a Pune based startup that works with 800 families across India. The startup is in the business of handloom saris. They converted the pandemic period in to an opportunity. The business owners realized that accounting is essential to permit informed judgements and decisions by the user of accounts. In the light of given definition of accounting.
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Answer:
NMIMS Solution Dec 2020-Karagiri is a Pune based startup that works with 800 families across India. The startup is in the business of handloom saris. Currently demand of clothes are increasing day by day so it is good to startup with a and ethnic wear business in India. Sarees business is one of the best business with high profit margin. It is possible when you purchase the sarees from direct manufacturing companies. At we provide you list of all leading sarees manufacturers and sarees weavers companies across the India. You can also Buy , , List of Sarees wholesalers and much more. They have wonderful collection of , , kanchipuram sarees, Silk sarees, Chanderi sarees, Patola sarees, wedding sarees, Plain cotton sarees and moreWe are deeply committed to building on existing efforts and undertake newer initiatives to accelerate progress on the SDG targets for long term transformation, he said.
Using Accounting Information
The American Accounting Association defines accounting as “the process of identifying, measuring and communicating economic information to permit informed judgements and decisions by users of the information.” In other words, it is the process of communicating financial information about a business entity to stakeholders and managers. Economic information is generally displayed in the form of financial statements that show the economic resources that a business currently has; the goal of the business is to determine which information is useful to the outside world.
Accounting involves two main elements:
An information process that identifies, classifies and summarizes the financial events that take place within an organization
A reporting system that communicates relevant financial information to interested persons, allowing them to assess performance, make decisions, and/or control the economic resources in the organization.
It is important to note that accounting is not the end of the decision making process; it provides the most relevant and reliable information possible to allow for goals to be developed, implemented, and revised.1.1 Meaning of Accounting
In 1966, the American Accounting Association (AAA) defined accounting as 'the process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of information'.
Answer:
Karagiri is a Pune based startup that works with 800 families across India. The startup is in the business of handloom saris. They converted the pandemic period in to an opportunity. The business owners realized that accounting is essential to permit informed judgements and decisions by the user of accounts. In the light of given definition of accounting.
Explanation:
- Karigiri is Pune based startup of handloom sarees.
- Currently the demand of clothes are increasing day by day so it is good for any startup and ethnic wear business to grow.
- Business of saree is one of the best business with high profit margin.
- Accounting involves two main elements:
- Information process which identifies, classifies and also summarizes the financial events that take place.
- It is also important to note that accounting is not the end of the decision making process. It provides the most relevant and reliable information.
- In 1996, AAA (American Accounting Association) it is defined accounting as the process of identifying measuring and communicating economic information.
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