Suspense Account, What Is a Suspense Account? with Examples
Suspense Account: When a trial balance does not agree, efforts are made to locate errors and rectify them. However, if reason for disagreement of trail
Accounting Standards
Net Present Value (NPV): Meaning of NPV, How to Calculate NPV
Net Present Value (NPV): Present value of cash flows minus initial investments, The Net Present Value (NPV) method as an investment appraisal or capital budgeting
Rectification of Errors, Stages of Errors, Need for Rectification
Rectification of Errors: Every concern is interested in ascertaining its true profit and financial position at the close of the trading year. But inspite of the
Accounts and its Classification, Types of Accounts (An Analysis)
Accounts and its Classification (Accounts Classification): The business transactions are recorded in accounts. An account is an individual record of a person, firm, or thing, an
Trial Balance: features, objectives, methods of preparing
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
Advantages of Accounting, check out main Advantages of Accounting
Advantages of Accounting: These advantages usually coincide with the ability for companies to improve operations and overall profitability. Business owners can also create a competitive
IndAS 1: Presentation of Financial Statement – Detailed
IndAS 1: Presentation of Financial Statement, In India Presentation of Financial Statement is always governed by Companies Act instead of Accounting Standard. Earlier there is Schedule VI,
IFRS An Overview | Need of IFRS | Advantages of IFRS (All Detail)
IFRS An Overview. The term IFRS is an acronym for International financial reporting standards. which means a set of financial reporting standards issued by International
IndAS 106: Exploration for and Evaluation of Mineral Resources
The objective of the IndAS 106 is to specify the financial reporting for the exploration for and evaluation of mineral resources. The exploration and evaluation