Understanding Financial Statements: A Guide for Non-Financial Managers
For managers without a financial background, financial statements can seem overwhelming. However, understanding these documents…
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Accounting for Consignment
Due to increasing size of market, it is quite obvious that manufacturers or whole sellers…
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Analysis of Changes in Income
The purpose of preparing a financial statement is not only to know the net income…
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Financial Accounting – Inventory Valuation
The Institute of Chartered Accountant of India as per Accounting Standard-2 (Revised) defines inventory as the assets…
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Bills of Exchange and Promissory Notes
Essentials of Bills of Exchange Following are the essentials of a bill of exchange −…
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Measurement of Business Income
One of the most significant accounting concepts is “Concept of Income”. Similarly, measurement of a…
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Provision and Reserves
Meaning of Provisions “Any amount written off or retained by the way of providing depreciation…
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Financial Accounting – Final Accounts
Final Accounts are the accounts, which are prepared at the end of a fiscal year.…
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Financial Accounting – Royalty Accounts
Royalty is payable by a user to the owner of the property or something on…
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Financial Accounting – Voyage Accounting
To know the financial results of a marine business, voyage accounting is prepared. Voyage account…