Com-Exultant : Finance and Research

                                                                                                  AUDIT REPORT Audit Report is the formal written opinion about the entity’s financial statements. The auditor conveys the report to the management at the end of the  audit . Apart from the opinion on the statements, it also includes factual information. It is a medium of communication of the views of the auditor to the company’s management. Hence, he submits the report created to the client. The report explains the information contained in it with clarity and brevity. The audit report is the final product of the audit work performed by the auditor and his staff. Noting that, the facts l...

Sole Proprietorship and Partnership Firm Sole Proprietorship and Partnership Firm  depends on various factors like business goals, management preferences, liability, taxation, and growth prospects. Here's a comparison of both to help you decide: Sole Proprietorship: Ownership & Control : Owned and controlled by one person. The owner has full control over decisions. Liability : Unlimited personal liability. The owner's personal assets can be used to pay off business debts. Taxation : Income is taxed as the owner's personal income, which may simplify tax filing. Decision-Making : Quick decision-making since the owner does not need to consult others. Profits : The owner retains all profits. Capital : Limited to the owner's resources, which might limit growth opportunities. Ease of Setup : Simple and low-cost to set up with minimal regulatory requirements.   Partnership Firm: Ownership & Contr...

  Bill of Exchange   Bill of exchange, can be understood as a written negotiable instrument, that carries an unconditional order to pay a specified sum of money to a designated person or the holder of the instrument, as directed in the instrument by the maker. The bill of exchange is either payable on demand, or after a specified term. In a business transaction, when the goods are sold on credit to the buyer, the seller can make the bill and send it to the buyer for acceptance, which contains the details such as name and address of the seller and buyer, amount of bill, maturity date, signature, and so forth.   Features of Bill of Exchange: ·          An instrument which a creditor draws upon his debtor. ·          It carries an absolute order to pay a specified sum. ·         The sum is payable to the person whose name is mentioned in the bill or ...