Process of book keeping and accounting
by Book-keeping and accounting are different from each other. Bookkeeping is an important part of accounting. Accounting is broader than book-keeping. Accounting includes a design of …
Tag: Expense Reporting
Key differences between Book Keeping and Accounting
Key differences between Book Keeping and Accounting
Debtors System
Under this system the Head Office opens one Branch Account to record various transactions with the Branch. Branch Account is maintained in the form of …
Stock and Debtors System
Under the Debtors System, the profit or Joss can be found out by preparing a Branch Account in the books of Head Office. The Branch …
Independent Branch
Independent Branches are those which make purchases from outside, get goods from Head Office, supply goods to Head Office and fix the selling price by …
Foreign Branch
Foreign branches are independent branches which are operating in foreign countries. Accounting in respect of Foreign Branches: Accounting in respect of foreign branches is done …
Royalties Accounts
Royalty is payable by a user to the owner of the property or something on which an owner has some special rights. A royalty agreement …
Issue and Redemption of Debentures
The word ‘debenture’ is derived from the Latin word ‘debere’ which refers to borrow. A debenture is a written tool acknowledging a debt under the …
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