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Financial Accounting – Single Entry
As we know, there are two systems of recording transactions in our books of accounts.…
Posted inFinancial Accounting
Financial Accounting – Non-Trading Accounts
Some of the organizations or institutions are constituted to provide valuable services to the society…
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Financial Accounting – Joint Venture
An association of two or more persons or we may say temporary partnership combined for…
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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.…