Fixed Assets and Depreciation Accounting
by Last updated on December 2nd, 2019 at 10:59 amFixed Assets are business purchases which will be used by the business for a few years. Examples …
Tag: Accounting Concepts
Over and Under Absorption
Last updated on December 2nd, 2019 at 11:20 amUsually overheads are absorbed on the basis of predetermined rates. Since predetermined overhead rates are based on …
Ledger Posting
Last updated on December 2nd, 2019 at 10:54 amAfter journal entries are made, the next step in the accounting cycle is to post the journal entries into …
Accounting Cycles
Last updated on December 2nd, 2019 at 10:52 amAccounting cycle is a step-by-step process of recording, classification and summarization of economic transactions of a business. …
Principles and Standards
Last updated on December 2nd, 2019 at 10:51 am Economic Entity Assumption The accountant keeps all of the business transactions of a sole proprietorship separate from the …
Accounting Concepts
Last updated on December 2nd, 2019 at 10:50 amThere are a number of conceptual issues that one must understand in order to develop a firm …