Accounting in India

Typse of accounts: There are 3 types of Accounts i.e Personal account, Real Account, Nominal Account. The term "account" is always used in accounting / Book keeping to denote a specific record which stores all the debit and credit…

Depreciation Accounting under the Companies Act, 2013. The Companies Act, 1956 provided for different minimum rates of depreciation on depreciable assets, whereas Schedule II of the Act of 2013 provides for the allocation of…

Maintaining Books of Accounts by Small Business Owners, Check Complete Requirement of Maintenance of Books of Accounts, also check Requirement to Maintain Books And Audit, What books of accounts are required to be maintained by…

Trial Balance methods: A trial balance is a schedule or list of debit and credit balances extracted from various accounts in the ledger including cash and bank balances from cash book. Since every transaction has a dual effect i.e. every…

Capital expenditure is that expenditure which results in acquisition of an asset or which results in an increase in the earning capacity of a business. The benefit of such expenditure lasts for a long period of time. As we have already…

Deferred Revenue Expenditure: Deferred revenue expenditure is that expenditure for which payment has been made or a liability incurred but which is carried forward on the presumption that it will be of benefit over a subsequent period…

How to Prepare Final Accounts? Process for Finalize Accounts: How to Prepare Final Accounts and Final Statements. How Final Accounts are Made?, Find Complete details for How to Prepare Final Accounts of any Company. In this article…

Revenue Expenditure: Expenses whose benefit expires within the year of expenditure and which are incurred to maintain the earning capacity of existing assets are termed as revenue expenditure. Amounts paid for wages, salary, carriage…

Debt Ratio is one of the financial ratios which compares an entity's total amount of debt to its total amount of assets, which is used to gain a general idea as to the amount of leverage being used by a entity. Know more about Debt service…

Difference between Book Keeping and Accounting with Meaning: Book-keeping is an activity concerned with the recording of financial data relating to business operations in a significant and orderly manner. It covers procedural aspects…

Various Types of Vouchers In Accounting, Be it vouching or passing an entry or maintaining regular books of accounts, the knowledge of vouchers & its types is very important. You must know what a voucher is & what are the various…

What is Book Keeping and a comparison with Accounting. Find Everything related to Book Keeping, Here we are providing complete details for What is Book - Keeping and a comparison with Accounting like - activities involved in Book keeping,…