Posted inPrinciple of Management
Posted inFinancial Accounting
Accounting Equation
What is the Accounting Equation The accounting equation is considered to be the foundation of…
Posted inFinancial Accounting
Financial Statements
Financial statements present the results of operations and the financial position of the company. Four…
Posted inFinancial Accounting
What is Financial Accounting?
Definition: Financial accounting is the area of accounting that focuses on providing external users with…
Posted inFinancial Accounting
Accounting
WHAT IS ACCOUNTING? Accounting is the process of systematically recording, measuring, and communicating information about financial…
Posted inFinancial Accounting
Generally Accepted Accounting Principles (GAAP)
WHAT IS GAAP Generally Accepted Accounting Principles (GAAP) is a framework of accounting standards, rules and procedures defined by the…
Posted inFinancial Accounting
International Accounting Standards Board
The International Accounting Standards Board is the independent standard-setting body of the IFRS Foundation. The…
Posted inFinancial Accounting
What is the FASB (Financial Accounting Standards Board)?
Definition: The Financial Accounting Standards Board or the FASB is an organization created to establish…
Posted inFinancial Accounting
What is Financial Accounting?
Financial accounting is the process of preparing financial statements that companies’ use to show their…
Posted inFinancial Accounting
Financial Accounting – Royalty Accounts
Royalty is payable by a user to the owner of the property or something on…
Posted inFinancial Accounting
Financial Accounting – Voyage Accounting
To know the financial results of a marine business, voyage accounting is prepared. Voyage account…