Accounts

Capital Expenditure: Capital expenditure is that expenditure which results in acquisition of an asset or which…

Suspense Account: When a trial balance does not agree, efforts are made to locate errors and rectify them. However,…

Accounting Equation: The accounting equation that is the foundation of double entry accounting. The accounting…

The loss suffered by a company on the sale of fixed assets, The loss suffered by the business in the ordinary…

Difference between Capital Receipts and Revenue Receipts: Receipts which are not of revenue nature are capital…

Contingent Assets and Contingent Liabilities: A contingent asset is a potential asset associated with a contingent …

Deferred Revenue Expenditure: Deferred revenue expenditure is that expenditure for which payment has been made or a…

Subsidiary Books: Introduction and Advantages of Subsidiary Books. In a Business most of the transactions generally…

Revenue Expenditure: Expenses whose benefit expires within the year of expenditure and which are incurred to…

Capital and Revenue Receipts: Capital receipts comprise of payments or contributions into the business by the…

Comparison between Capital Expenditure and Revenue Expenditure, check out difference between capital Expenditure…

Role of Accountant: An accountant performs financial functions related to the collection, accuracy, recording,…