"Exploring the Journey of Suresh Babu MG: Inspiring Success at GFGC Gauribidanur"

                                                                  Introduction to Business Law  The law affects every aspect of our lives; it governs our conduct from the cradle to the grave and its influence even extends from before our birth to after our death.  Law is essential to any society in that it provides the rules by which people and businesses interact. Law affects almost every function and area of business.                                                                        What is Law?   The law is a set of rules, enforceable by the courts, which regulate the government of the state and govern the relationship between the state and its citizens and between one citizen and another. OR Rules made by authority for the proper regulation of a community or society, or for correct conduct in life.  Nature of Law  ¶ Law is, at one and the same time, essentially authoritative and essentially ideal.  ¶ Law necessarily comprises both a real or factual and an ideal or critical d

  Module: 1 - CONSIGNMENT ACCOUNTS 14 Hrs Consignment - Introduction & Meaning; Consignor & Consignee; Goods Invoiced at Cost Price; Goods Invoiced at Selling Price; Normal Loss & Abnormal Loss; Valuation of Stock; Stock Reserve; Journal Entries & Ledger Accounts in the books of Consignor and Consignee  What is Consignment Accounting? Consignment accounting is a type of business arrangement in which one person sends goods to another person for sale on his behalf, and the person who sends goods is called the consignor. Another person who receives the goods is called the consignee; where the consignee sells the goods on behalf of the consignor on consideration of a certain percentage on sale.   Explanation In Consignment, goods are left in the hands of an authorized third party called the consignee for sale on behalf of the consignor. Ownership of goods remains in the hands of  the consignor . The agreement made between the consignor and consignee is for a smooth flow