Fund Flow Statement: Meaning, Objectives and Preparation Guide
Fund flow statement also called as statement of “source and application of funds” which provides insight into the movement of funds and useful to understand
Accounting Knowledge
Cash Basis Vs Accrual Basis of Accounting – The difference
Cash Basis Vs Accrual Basis of Accounting,andnbsp;We all have heard about the cash basis and accrual basis of Accounting, but here we will do a
Accounting for Rectification of Errors – Classification, Suspense
Accounting for Rectification of Errors ,andnbsp;To err is human! So, it is obvious that while we are doing the accounting of an entity, we can
What Is Debit Note and Credit Note – Complete Details
What Is Debit Note and Credit Note: here we are providing complete details for Debit Note and Credit Note. In this article you can find
How to Prepare Final Accounts? Prepare Balance Sheet and PandL A/C
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
Fairness and Accounting Fairness – A Detailed Analysis 2021
Fairness and Accounting Fairness:andnbsp;Some words, frequently used in accountancy, do not connote its etymological or philosophical meaning. This paper tries to find the gap between
Ind AS 7 – Statement of cash flows, Applicability, Scope, Objective
Ind AS 7 Statement of Cash Flows – Ind AS 7 prescribes principles and guidance on preparation and presentation of cash flows of an entity
Accounting Principles, Accounting Concepts and Conventions
Accounting Principles : Accounting is a language of the business. Financial statements prepared by the accountant communicate financial information to the various stakeholders for decision-making
Difference between Capital Expenditure and Revenue Expenditure
Difference between Capital Expenditure and Revenue Expenditure:andnbsp;The following are the points of distinction between capital expenditure and revenue expenditure: The Revenue Expense relates to the
Accounting Equation: Formula of Accounting with Example
Accounting Equation:andnbsp;The accountingandnbsp;equationandnbsp;that is the foundation of double entryandnbsp;accounting. Theandnbsp;accounting equationandnbsp;displays that all assets are either financed by borrowing money or paying with the money
Capital Profit and Revenue Profit, (check out detailed difference)
Capital Profit and Revenue Profit: Capital profit which is earned on the sale of the fixed assets,andnbsp;The profit which is earned during the ordinary course
Ind AS 40 Investment Property – Objective, Classification
Ind AS 40 Investment Property. The objective of IndAS 40 is to prescribe the accounting treatment for investment property and related disclosure requirements. Investment property
Sub Fields of Accounting, Types or branches of accounting 2021
Sub Fields of Accounting, Types or branches of accounting. Accounting is a system meant for measuring business activities, processing of information into reports and making
Accounting for Not for Profit Organisation, Accounting for Special Items
Accounting for Not for Profit Organisation, Checkandnbsp;Accounting for non profit organisations, A Not for Profit Organisation prepares their financial statements in the following form: i)
Double Entry System Advantages and Disadvantages – Full Analysis
Double Entry System Advantages and Disadvantages: Any business transaction involves at least two accounts which we call as Debit and credit. As said above ,
Limitations of Accounting, Disadvantages of Accounting (Detailed)
Limitations of Accounting, What are the Limitations of Accounting:andnbsp;Accounting is not fully exact: Accounting is influenced by the personal judgment in respect of various terms.People
Definition of Accounting, What is Accounting, Accounting Meaning
Definition of Accounting: Accounting is used by business entities for keeping records of their monetary or financial transactions. A businessman who has invested money in
Bills of Exchange and Promissory Notes – Key Difference Analysis
Bills of Exchange and Promissory Notes. Check Difference Between Bills of Exchange and Promissory Notes. Key Difference Between Promissory Notes and Bills of Exchange. Meaning
Accrued Liabilities – Meaning, Definition with Examples
An accrued liability is a current liability and it arises as a result of work performed and acknowledged by CSC but for which invoices are
Balancing Ledger Accounts, Ledger accounts balancing procedure
Balancing Ledger Accounts:andnbsp;Balancing of an account means the process of equalizing the two sides of an account by putting the difference on the side where
What is Debit and credit explained with accounting equation
What is Debit and credit explained with accounting equation. We often come across the words Debit and credit in many situations like while reading accounting
Capital Receipts and Revenue Receipts, Check out Major Difference
Capital and Revenue Receipts:andnbsp;Capital receipts comprise of payments or contributions into the business by the proprietor, partners or companies towards the capital of the firm
Material Requisition – What is?, Meaning, Procedure and Problems
Material Requisition – Meaning, Procedure and Problems. Meaning of Material Requisition, Everything you want to know about Material Requisition. Material requisition may seem like a
Capital and Revenue Expenditure and Deferred Revenue Expenditure
Capital and Revenue Expenditure and Deferred Revenue Expenditure. Find Everything You want to know about Capital and Revenue Expenditure. Complete Guide ofandnbsp;Capital and Revenue Expenditure.
Accounting Standard 10 (AS 10) – Property, Plant and Equipment
Accounting Standard 10 (AS 10) – Accounting for Fixed Assets. The objective of this Standard is to prescribe the accounting treatment for property, plant and
Users of Accounting Information, who can use accounting info
Users of Accounting Information: Accounting is of primary importance to the proprietors and the managers. However, other persons such as creditors, prospective investors, etc. are
Role of Accountant : Maintenance of Books of Accounts by Accountant
Role of Accountant: An accountant performs financial functions related to the collection, accuracy, recording, analysis and presentation of a business, organization or company’s financial operations.
Difference Between Convertible and Non Convertible Debentures
Difference Between Convertible and Non Convertible Debentures:andnbsp;Check What is the Difference between Convertible and Non Convertible Debentures. Debentures are the long term debt instruments issued
Difference Between Accounting, Auditing and Investigation 2021
Distinguish Accounting, Auditing and Investigation, Difference between Accounting Auditing and Investigation. In this article you can find everything you want to know about Investigation, auditing
Double Entry System Definition, Advantages of Double Entry System
Double Entry System of book-keeping has emerged in the process of evolution of various accounting techniques. It is the only scientific system of accounting. According