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 …
Double Entry System of book-keeping has emerged in the process of evolution of various accounting techniques. It is …
Petty Cash Book: Payments in cash of small amounts like traveling expenses, postage, carriage etc. are petty cash expenses. …
Rules of Debit and Credit: The left hand side of an account is called the debit side; while …
Suspense Account: When a trial balance does not agree, efforts are made to locate errors and rectify them. …
Systems of Accounting, Basis of accounting (Cash Basis & Accrual Basis). Difference between Accrual Basis of Accounting and Cash …
Classification of Errors or Types of Errors: Every concern is interested in ascertaining its true profit and financial …
Fundamentals of Accounting: Every individual performs some kind of economic activity. A salaried person gets salary and spends …
Rectification of Errors: Every concern is interested in ascertaining its true profit and financial position at the close of …
Difference between Capital Receipts and Revenue Receipts: Receipts which are not of revenue nature are capital receipts.The Receipts …
Accounts and its Classification (Accounts Classification): The business transactions are recorded in accounts. An account is an individual record …
Trial Balance methods: A trial balance is a schedule or list of debit and credit balances extracted from …
Capital expenditure is that expenditure which results in acquisition of an asset or which results in an increase …