Some General Topic about Accounting.
SOME GENERAL TOPICS WHY IS DEPRECIATION A CHARGE AGAINST REVENUE ? Some people say that depreciation is an approraition of profit.Because no outside people are associated with depreciation and it…
Various types of Expenditure in Accounting.
VARIOUS TYPE OF EXPENDITURE What is Capital Expenditure ? Capital expenditure consists of expenditure the benefit of which is not fully…
Explain Assets and Liability.
ASSETS What is Assets Definition of assets-Several authors have defined assets in different ways.The following are some definition given by eminent authors.”An assets is any future service convertible into money…
Explain Profit & Loss Account and Balance Sheet ?
Profit& loss Meaning of Profit And Loss Account Profit & Loss account is perpared to calculate the net profit or loss of the buisness for a given accounting period.If the…
Explain about Ledger and Trail Balance in Accounting ?
Ledger Where the individual accounts are normally maintained in a book reffred to as “Ledger”.It is the most important book of accounts,because it includes all the summaries of transaction.Therefore it…
Some notes on Debit & Credit and Journal Entry.
Debit & Credit What is Debit & Credit ? The terms Debit & Credit give an accounting explanation of the mathematical changes is the individual accounts.As a matter of convention…
How to do Double Entry System in Accounting?
Double Entry System What is Double Entry System ? To undarstand “Double entry system”,we should first understand the “DUAL ASPECT CONCEPT”.This principle is the core of accountancy.All business transactions are…
WHAT IS PRINCIPLES OF ACCOUNTING ?
Principles of Accounting What is Accounting ? “Accounting is the art of recording,classfying and summarising in a significant manner and in terms of money,transactions and events which are, in part…