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The Accounting Equation:the balance sheet equation

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The Accounting Equation:the balance sheet equation The Value of the business is the value of its assets less the value of its liabilities and this value belongs to the owners of the business: The Owners fund must also equal the amount the owners have put into the business (Capital) less any amounts they have taken out (Drawings) plus any profit. For the time being we assume the business is profitable. We add   to both sides to remove the minus signs.  We call items on the left hand side Debits and items on the right hand side Credits. Then: In order that this equation holds we must also ensure that a loss is on the opposite side to a profit and therefore a loss is a debit. Note that items of income increase profit so they are also credits, while expenses decrease profit and are therefore debits. When to Debit, when to Credit? [ edit ] The Value of the business is the value of its assets less the value of its liabilities and this value...
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Ishwar Chandra Vidyasagar

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Add caption Ishwar Chandra Vidyasagar Ishwar Chandra Vidyasagar  was the best indian personality that still shines bright. He was a far-sighted social reformer, philosopher, philanthropist, and educationalist with a modern vision. Throughout his long life he stood for morality, honest character, truthfulness, social reforms, unselfishness, and liberalism. He had a heart of Himalayan magnanimity. A son of the soil, Ishwar Chandra Vidyasagar was, with a vast career of learning the first modernly refined man not only of Bengal but also of India. Birth, Education & Activities In the history of enlightened personalities, Vidyasagar finds a unique niche. He was born on 26th day of September, 1820. He was known as Ishwar Chandra Bandopadhyay. The rustic boy of Thakurdas Bandopadhyay and Bhagabati Devi of Birsingha, Midnapore rose to inimitable eminence through hazards of poverty. He was an obstinate boy. He had turned his obstinacy into rock-like strength of charact...
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Ishwar Chandra Vidyasagar and various reforms

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  Educational Reform: Iswar Chandra firmly believed that the regeneration of India was possible through modern education. That is why Iswar Chandra vidyasagar took up an educational reforms before movement for social reforms. In matters of education Iswar Chandra vidyasagar aimed at extending the benefits of learning to common people. He reconstructed the  Bengali alphabet  and reformed Bengali typography into an alphabet  of twelve vowels and forty consonants. He contributed significantly to  Bengali  and  Sanskrit literature .Vidyasagar's "Barna Porichoy" is still considered a classic.  His efforts to simplify and modernize  Bengali   prose were significant. He also rationalized and simplified the Bengali alphabet and type, which had remained unchanged since  Charles Wilkins  and  Panchanan Karmakar  had cut the first (wooden) Bengali  type  in 1780. Further, in order to liberate the minds of y...
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