IPO - Initial Public Offering also referred to simply as a
"public offering" or "flotation".
IPO -when a company issues common stock or shares to the
public for the first time.They are often issued by smaller,
younger companies seeking capital to expand, but can also be
done by large privately-owned companies looking to become
publicly traded
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Contigent liability is the liability which may or may not occur.To be more clear on this one your are giving bank surity to your friend, it will be reflect in your books as contigent liability. if your firend repays the bank loan without any defaults then that liability will not affect you. If he fails to repay the amount you are the one suppose to repay that loan. So at that point of time that loan will be
liability for you. This liability is said to be as contigent liability.
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When we receive the stock from vendor if we have received excess stock then send it back to vendor after passing the bill in our books, later material is not required as per our internal purpose then we will pass the debit note.
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The literal meaning of both the terms are taken to be the
same. When the goods are kept in the warehouse to be
released to the shop for selling it is called as INVENTORY.
When inventory comes into the shop for selling to the
ultimate consumers it is known as stock. In other words,
goods when in warehouse/godown are called INVENTORY and on
the other hand goods when in the shop for sales are called
STOCK. To conclude, Inventory is the phenomenon between
warehouse/godown and shop/selling point. Stock is the
phenomenon between shop/selling point and the buyers
ultimate consumers.
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1) contra entry means the transaction from bank to cash and
cash to bank in F4 in tally.
2) Contra entry refers to entry passed for the transaction
which affects both bank & cash Ledgers and the entry should
be posted to both cash and bank.
In Tally Contra Vouchers included only Ledgers related to
Cash and Bank, & allowed enties related to bank and cash
only eg: Transfer from 1 bank to another bank, Depositing
to bank, withdrawing from bank, & transfering of cash to
petty cash.
3) contra entry is passed in following cases
1)when there is a transaction between two different banks
i.e transfer of funds from one bank to another or,
2)cash withdrawn from bank or,
3)cash dedposited in bank or,
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An invoice or bill is a commercial document issued by a
seller to the buyer, indicating the products, quantities,
and agreed prices for products or services the seller has
provided the buyer. An invoice indicates the buyer must pay
the seller, according to the payment terms. The buyer has a
maximum amount of days to pay these goods and are sometimes
offered a discount if paid before
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