If the corporate sector in India has to experience wide spread success on a sustained basis it is imperative for a change in the mind set of all the concerned players.
Friends’, Shopping is something which was one of the hobbies of individual and families which is becoming habits. Payment is one of the vital activities once anybody completes the Shopping. Let us first understand that how payment works in the system.
The cash balance shown in the company’s Ledger may not be the same as the available balance in its bank account. The difference is the net float. When the firm has written large number of cheques awaiting clearance, the available balance will be larger than the ledger balance.
In past about a decade, if one gives a close look at the business environment, professional experience with clients and employer expectations, one could derive that the period has witnessed a theory of ‘Big change’. The drivers at macro level are altering the business environment radically and as a result transforming the accounting profession.
Organisational response to the environment and the role of the acco- unting profession for the environ- mental protection are fairly recent developments. Environmental issues are business issues and have consid- erable implications for ‘audit’ in all its semblance leading to a separate spe- cialised area viz., ‘environmental auditing’.
