Functions of Accounting
To move ahead to the functions of accounting, first of all, it is very important to know about the role of accounting. The basic role …
Read MBA, BBA, B.COM Notes
To move ahead to the functions of accounting, first of all, it is very important to know about the role of accounting. The basic role …
Book Keeping Book-keeping is the recording of financial transactions, and is part of the process of accounting in business. Transactions include purchases, sales, receipts, and …
Accounting is a multifaceted discipline of identifying, measuring and communicating of an organization’s economic health. The discipline of accounting is best understood when one has …
FINANCIAL ACCOUNTING Financial Accounting is based on a systematic method of recording transactions of any business according to the accounting principles. It is the original …
The limitations of accounting are; Recording only monetary items As per accounting principles, only the events measurable in terms of money are recorded in the …
The following is a list of the ten main accounting principles and guidelines together with a highly condensed explanation of each. Economic Entity Assumption The …
Accounting Concepts Four important accounting concepts underpin the preparation of any set of accounts: Going Concern: Accountants assume, unless there is evidence to the contrary, …
Generally accepted accounting principles (GAAP) refer to a common set of accepted accounting principles, standards, and procedures that companies and their accountants must follow when …
Accounting Standards Issued by the ICAI or the Institute of Chartered Accountants of India are as below: Disclosure of accounting policies. Valuation Of Inventories. Cash …
In accounting careers, journal entries are by far one of the most important skills to master. Without proper journal entries, companies’ financial statements would be …