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Accounting

Origin and growth of Accounting accounting is as old as money itself. However, the act of accounting was not as developed as it is today because in the early  stages of civilisation, the number of transcactions to be recorded was so small that each businessman was able to record and check for himself all his transactions. Accounting was practised in India twenty-three centuries ago as is clear from the book named "Arthashastra" written by kautilya, king chandragupta's minister. The modern system of accounting based on the principles of Double Entry System owes its origin to Luco Pacioli who first published the principles of Double Entry System in 1994 at Venice in Italy. Need for Accounting The main aim of  a business is to earn profit. for earning profit, a businessman will either purchase the goods in one market at a certain price and sell it in another market at higher price or will covert the raw give him some percentage of profit on cost of production. But  t...
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What is Internet ? ,History of INTERNET

stone age part 1

Internet

HISTORY OF INTERNET The internet has gained immense popularity and emerged as an important and efficient means of communication. The idea of introducing the Internet was to allow people to share information using their computers across the world. In 1962, J.C.R Licklider first proposed the development of a global network of computers. The same year, he moved to Defense Advanced Research Projects Agency(DARPA) to develop the network. Another scientist, Leonard Kleinrock, developed the theory of packet switching, which was used as a basis for the Internet connections. In 1969, the sicentist at DARPA succeeded in networking two computers, Known as ARPANET( Advanced Research Projects Agency Network), which was based on packet switching. ARPANET was developed as a means of communication for the United States military services. ARPANET was a big success. This invited the attention on the National Science Foundation (NSF), as US federal agency for creation a contemporary better high capac...

SBI sells over ₹400 cr. electoral bonds

Ten-day Oct. window saw a spike from the ₹32-cr. worth bonds sold in July tranche, reveals RTI reply More than ₹400 crore worth of electoral bonds were sold by the State Bank of India (SBI) in the 10-day window of October, a sharp rise from the ₹32 crore worth of bonds sold in the July tranche, according to data the bank released under the Right to Information. Assembly poll backdrop The electoral bond data assumes significance against the backdrop of the Assembly elections in Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana and Mizoram. The RTI data, released in response to queries by Factly, also shows that there is next-to-no demand for electoral bonds of smaller denominations and the majority of the bonds sold were in the highest denomination of ₹1 crore. The data shows that ₹401.73 crore worth of bonds were sold by SBI in the October 1-10 window, the fifth tranche in which the bonds were available for sale. Within this, about 37.5% of the bonds (₹150.7 crore worth)...

What is the RBI board meeting all about?

What is it? The Board of Directors of the Reserve Bank of India (RBI) meets every month to discuss inspection reports of banks and systemically important financial entities, and other routine issues of supervision. The Board now has 18 members, inclusive of the Governor and four Deputy Governors and two top bureaucrats from the Finance Ministry. In addition, the government nominates 10 public representatives from different fields of activity to the board. Some of the well-known names nominated by the government to the Board now are N. Chandrasekaran, chairman, Tata Sons, Teamlease founder and chairman Manish Sabharwal, agricultural economist Ashok Gulati, chartered accountant S. Gurumurthy and Bharat Doshi, former CFO of Mahindra & Mahindra. Economic Affairs Secretary Subash C. Garg and Rajiv Kumar, Secretary, Department of Financial Services, represent the government’s interests. How did it come about? The Board meetings are normally boring affairs that go largely un...

Realty group launches solar project

To generate about 1.6 MW via rooftop units at 4,300 apartments in Hooghly City-based Eden Realty Group Arya Sumant has launched a roof-top solar project comprising 4,300 dwelling units on a 23-acre plot acquired from the National Textile Corporation. The project, which will come up in the affordable housing segment, will enable occupants not only to have dwelling units at affordable rates, but also save on maintenance charges they would otherwise have to pay in common service areas. “We will generate about 1.6 MW through roof top solar units at this project which will have 4,300 apartments,” said joint managing director of Eden Realty Group Arya Sumant. This would be grid connected power, he said. NTC land The group is developing the project on land acquired from National Textile Corporation years ago, he said. The two-phased project would come up at Serampore in Hooghly district. Former chairman of the erstwhile West Bengal Renewable Energy Development Agency S.P. Gon ...