Category Archives: Accounting

Petty Cash Book, Imprest System of Petty Cash (Advantages)

Petty Cash Book

Petty Cash Book: Payments in cash of small amounts like traveling expenses, postage, carriage etc. are petty cash expenses. These petty cash expenses are recorded in the petty cash book. The petty cash book is maintained by separate cashier known as petty cashier. The firm may adopt Imprest System of maintaining petty cash. The petty cashier […]

Capital Profit and Revenue Profit, (check out detailed difference)

Capital Profit and Revenue Profit

Capital Profit and Revenue Profit: Capital profit which is earned on the sale of the fixed assets, The profit which is earned during the ordinary course of business is called revenue profit. Following are the main differences between capital profit and revenue profit. Capital profit is earned by selling assets, shares and debentures at a price more than their book […]

Bills of Exchange & Promissory Notes – Key Difference Analysis

Bills Of Exchange & Promissory Notes Key Difference Analysis

Bills of Exchange & Promissory Notes. Check Difference Between Bills of Exchange & Promissory Notes,. Key Difference Between Promissory Notes & Bills of Exchange. Hi Friends here we are providing complete details for Bills Of Exchange & Promissory Notes like – Meaning of Bills Of Exchange, Meaning of Promissory Notes Parties to a bill of exchange, Parties to a […]

Relative Valuation – Steps for Relative Valuation (All you need to know)

Relative Valuation

Relative Valuation is an approach where an asset is valued not based on of its fundamentals (cash-flows, growth, and risk) but on the basis of what other people are paying for assets just like it. Hence, it is also called “pricing”. It is the way for how 90% of the valuations are done. Relative Valuation […]

Double Entry System Advantages & Disadvantages – Full Analysis

Double Entry System Advantages

Double Entry System Advantages & Disadvantages. Find complete details for Double entry system with Advantages & Disadvantages. Here you can find everything related to Double entry system like – Advantages and Disadvantages of Double entry system, Main Advantages of Double entry system for Example – Accuracy, Easy to detect errors and omissions, Consistency, Helps in decision making, Indicates financial position, […]

Ind AS for NBFCs – Not Just an Accounting Challenge (Detailed Article)

Ind AS for NBFCs

Ind AS for NBFCs: Non-Banking Finance Companies (‘NBFCs’) having net worth of Rs 500 crore or more as at 31st March 2016 or thereafter are required to comply with Ind AS for accounting periods beginning on or after 1st April 2018 with the date of transition of 1st April 2017 or thereafter. As a result, […]

Types of Cash Book, How Many Types of Cash Book, Contra Entry

Types of Cash Book

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 the form of an account. It serves the purpose of Cash Account also. On the debit side, all cash receipts are recorded while on the credit side, all cash payments […]

Balance of payments (BOP) & Its components – With Definition

Balance of payments

Balance of payments (BOP) & Its components – With Definition. BOP Information With Definition. Here we are providing Complete Details of Balance of Payments with Definition of Balance of Payments. in this article we also provide components of Balance of Payments. Recently we provide Complete details for TDS on Rent. Now you can scroll down […]

Basic Principles of Accounting and Golden Rules of Accounting

Golden Rules of Accounting

Basic Principles of Accounting and Golden Rules of Accounting. Guidelines on Basic Accounting Principles and Concepts. Here we provide complete guide for all Basic Concepts or Principles of Accounting with Golden Rules of Accounting. In this article you can find complete details regarding Basic Principles and Golden Rules of Accounting like – Basic Principles of Accounting, […]

Meaning of Accounting, Scope of Accounting, Functions & Types of Accounting

Meaning of Accounting, Scope of Accounting, Functions & Types of Accounting

Meaning of Accounting, Scope of Accounting, Functions of Accounting, Type of Accounting, Used of Accounting, Limitation of accounting. In this article you can find everything related to Meaning & Scope of Accounting like – Various Branches of Accounting, Need and Use of Accounting, Functions of accounting data, The users of financial statement & their information needs, Qualitative […]