Branches of Accounting

Branches of Accounting, Types of Accounting, Many Branches

Branches of Accounting: Accounting has universal application for recording transactions and events and presenting suitable information to aid decision-making regarding any type of economic activity ranging

Contingent Assets and Contingent Liabilities

Contingent Assets and Contingent Liabilities – In Detailed

Contingent Assets and Contingent Liabilities: A contingent asset is a potential asset associated with a contingent gain. Unlike contingent liabilities and contingent losses, contingent assets and contingent gains are not recorded in accounts, even when they are probable and the