Posted inFeatured
Posted inAccounting Basics
Convention of Consistency
To compare the results of different years, it is necessary that accounting rules, principles, conventions…
Posted inAccounting Basics
Objective Evidence Concept
According to the Objective Evidence concept, every financial entry should be supported by some objective…
Posted inAccounting Basics
Accrual Concept
As stated above in the matching concept, the revenue generated in the accounting period is…
Posted inAccounting Basics
An Overview of Contracts and Why They are Important to Business and Society
Contracts govern all transactions whether they are between firms or between firms and private individuals.…
Posted inAccounting Basics
Need for a Theory of Accounting to Improve the Accounting Profession
Creative Accounting and the Need for a Theory of Accounting The rise of “creative accounting” practices, an…
Posted inAccounting Basics
Matching Concept
Matching concept is based on the accounting period concept. The expenditures of a firm for…
Posted inAccounting Basics
Need for a Uniform and Common Theory of Accounting
The frequent attempts by experts and professionals on having a “theory” that would guide accountants…
Posted inAccounting Basics
Working Capital Cycle
Generation and disbursement of cash is carried out in the manner depicted by the following…
Posted inAccounting Basics
Gross Working Capital and Net Working Capital
Gross working capital means the investment in current assets, whereas the Net working capital means…
Posted inAccounting Basics
Management Accounting – Working Capital
Working capital is defined by experts as follows - “Working capital is the amount of…