What is Book Keeping?: Difference Between Accounting & Book Keeping
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
Accounting
Stages of Accounting | Accounting Cycle Steps | How Many Stages?
Stages of Accounting: As per this definition, accounting is simply an art of record keeping. The process of accounting starts by first identifying the events
Accounting standard 28 (AS 28) Impairment of Assets
Accounting standard 28 Impairment of Assets: The objective of AS 28 is to prescribe the procedures that an enterprise applies to ensure that its assets
Journal – Meaning, Format, Process and Types of Journal Entries
Journal – Meaning: Process and Types of Journal Entries. Journal is the first stage of recording business transactions. It is called as “Book of original
Factoring How does it work, Different Types of Factoring
Factoring How does it work – Factoring is an activity in receivables management system which facilitates a company to get the cash immediately on real
Accounting Cycle, Steps / Phases of Accounting Cycle: Detailed
Accounting Cycle: When complete sequence of accounting procedure is done which happens frequently and repeated in same directions during an accounting period, the same is
Weighted Average Cost of Capital: Meaning, Formula, Example
Weighted Average Cost of Capital (WACC) is defined as the weighted average of the cost of various sources of finance, weight being the market value
Brand impairment testing and compliance with mandatory Ind AS disclosures
Brand impairment testing and compliance with mandatory Ind AS disclosures. The shifting from IGAAP to Ind AS has resulted in change in accounting for intangible
Internal Control – Meaning, Objectives, Scope, Limitations
Internal Control – Meaning, Objectives, Scope, Limitations. As per SA-315, the internal control may be defined as “The process designed, implemented and maintained by those
Journal : Books of Prime Entry, Functions & Advantages of Journal
General Journal: This is also known as Journal Proper or General Journal. It is used for making the original record of such transactions for which no
Ind AS 41, Agriculture | Objectives | Recognition (all you know)
Ind AS 41, Agriculture: The objective of Ind AS 41 is to prescribe the accounting treatment and disclosures related to agricultural activity. Agricultural activity is the
Subsidiary Books: Introduction, Advantages of Subsidiary Books
Subsidiary Books: Introduction and Advantages of Subsidiary Books. In a Business, most of the transactions generally relate to receipts and payments of cash, sale of
Ledger Accounts 2021 – Principal Book of Accounts & Posting
LedLedger Accounts – Principal Book of Accounts: All journals are posted into ledger chronologically and in a classified manner Ledger is the principal book of accounts
Goodwill Impairment Testing Disclosures under Ind AS (In Detailed)
Goodwill Impairment Testing Disclosures under Ind AS: Transition from IGAAP to Ind-AS has resulted in change in treatment of goodwill. IGAAP prescribe amortization if it
Objectives of Accounting – List of all objectives with explanation
Objectives of Accounting: Business is an economic activity undertaken with the motive of earning profits and to maximize the wealth for the owners. Business cannot
Earnings Per Share (EPS) Definition, calculation, Formula
Earnings Per Share (EPS) Definition – The portion of a company’s profit allocated to each outstanding share of common stock. Earnings per share serves as
Branches of Accounting, Types of Accounting, Many Branches
Branches of Accounting: Accounting has universal application for recording transactions and events and presenting suitable information to aid decision-making regarding any type of economic activity ranging
Debt Equity Ratio: Meaning, Formula, Importance – Detailed
Debt Equity Ratio: The debt-equity ratio is an indication of the relationship between the contribution of the creditors and shareholders /owners in the capital employed
Value Added statement: Introduction and Historical Background
Value Added statement is another form of understanding the performance or profitability of an enterprise. It shows how the benefits of the efforts of an
Costing – Classification of Various Costs, Types of cost
Costing: Preparation & Presentation of cost records and cost statements is the responsibility of the Management. Therefore, Cost Accounting Standards are guidelines for the companies [for
How to Make Accounting Easy and Stress-Free as Possible in 2021
Accounting is a very important part of running a business. Apart from managing taxes, it helps with maintaining the finances of the company. Knowing your
Rent control act – know how it protects the rights of the tenants
Rent Control Act has been enacted and implemented by all the State Governments to protect the legitimate rights of the tenants. Primarily it focuses on
Capital Losses and Revenue Losses, Detail of Capital and Revenue Losses
The loss suffered by a company on the sale of fixed assets, The loss suffered by the business in the ordinary course of business is
Contingent Assets and Contingent Liabilities – In Detailed
Contingent Assets and Contingent Liabilities: A contingent asset is a potential asset associated with a contingent gain. Unlike contingent liabilities and contingent losses, contingent assets and contingent gains are not recorded in accounts, even when they are probable and the
Internal Rate of Return – Intro, Advantages & Disadvantages
Internal Rate of Return (IRR) is that rate of return at which the present value of cash inflows is equal to the present value of
Systems of Accounting, Basis of accounting (Cash & Accrual Basis)
Systems of Accounting, Basis of accounting (Cash Basis & Accrual Basis). Difference between Accrual Basis of Accounting and Cash Basis of Accounting. Cash Basis of accounting:
How to Finalize Balance Sheet & Analysis of Balance Sheet
How to Finalize Balance Sheet & Analysis of Balance Sheet. A balance sheet is a summary of a business’s finical health on any given day. It
Difference Between Net Salary, Gross Salary and CTC – An Analysis
Difference Between Net Salary, Gross Salary and CTC. Difference between Various Types of Salaries!. The thing for which we wait for the entire month, the
Types of Cash Book, How Many Types of Cash Book, Contra Entry
Types of Cash Book: Cash book is the book in which all transactions concerning cash receipts and cash payments are recorded. Cash Book is in
Steps to Locate Errors | Rectification of Errors, Errors in Trial Balance
Steps to Locate Errors: Even if there is only a very small difference in the trial balance, the errors leading to it must be located and