Meaning, Nature, Importance, Types of Financial Statements
by Financial Statements are formal records of the financial activities and position of a business, providing a summary of its financial performance and financial position over …
Tag: Depreciation
Differences between Discounts and Rebates
Discounts A rebate is a refund or return on the purchase of goods or services. A rebate is returned to the customer after the amount …
Accounting Process: Recording of business, Transaction to preparation of Trial Balance
The accounting cycle is the holistic process of recording and processing all financial transactions of a company, from when the transaction occurs, to its representation …
Accounts of non-profits organization
Non-profit accounting refers to the unique system of recordation and reporting that is applied to the business transactions engaged in by a nonprofit organization. A …
Consignment Account
Consignment occurs when goods are sent by their owner (the consignor) to an agent (the consignee), who undertakes to sell the goods. The consignor continues …
Books of Accounts and Document
Books of accounts including vouchers and receipts are required to be maintained under different statutory laws Income Tax Act, Companies Act 2013 and GST Act. …
Key differences between Capital Receipt and Revenue Receipt
Key differences between Capital Receipt and Revenue Receipt
Accounting for Labour
Payroll Accounting: It is concerned with the maintenance of records for the amounts due to the employees like salaries, wages, allowances, contributions to provident fund …
Provisions and Reserves, Meaning, Objectives, Nature, Types, Importance and Accounting Treatment
Provisions and Reserves, Meaning, Objectives, Nature, Types, Importance and Accounting Treatment
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