RULES OF DEBIT AND CREDIT – (GOLDEN RULES)
Transaction are recorded in the books of accounts on the basis of evidences, i.e., source documents, such as bill of purchases, invoices for sales, debit and credit notes, etc. Rules…
GLOSSARY OF ACCOUNT
Here you can see some Glossary of Account which is frequently used in account like following and that meaning: A Accommodation Bill: A bill of exchange drawn and accepted for…
WHAT IS MEAN BY BASES OF ACCOUNTING
Bases of Accounting: For recording financial transactions, there can be two broad approaches to accounting. These are: Cash Basis and Accrual Basis...
WHAT IS JOURNAL & LEDGER?
The business transactions are recorded in the books of accounts which are customarily divided into two classes (1) Journal and (2) Ledger. A Journal is a book in which transactions…
INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS)
Learning Inside: Introduction #Objective of IASB #Meaning of IFRS #Table of Accounting standards issued by the IASC #Table of IFRS Issued by the IASB #Assumptions in IFRS #IFRS Based Financial…
What is an ACCOUNTING STANDARD?
Learning Inside MEANING OF THE ACCOUNTING STANDARDS # NATURE OF ACCOUNTING STANDARDS # UTILITY OF ACCOUNTING STANDARDS # Let's dive into it.. The rise in diversity, complexity and globalisation of…
ACCOUNTING PRINCIPLES ACCOUNTING ASSUMPTIONS
Learning Inside: If you don't want to read the Whole Post on Accounting Principles So you Can Listen to the Recording followed below. Meaning and Natural of Accounting Principles #Feature…
BASIC ACCOUNTING TERMS
Learning Insight ⬇ Accounting Terms like: || Business Transactions # | Account # | Capital # | Drawings # | Liabilities (Internal, External, Long-term and Short-term) # | Assets (Tangible…
INTRODUCTION Of ACCOUNTING
"Accounting is the art of recording, classifying and summarising in a significant manner and in terms of money; transactions and events which are, in part at least, of a financial character, and interpreting the results thereof."
