Meaning and Scope of Accounting: Accounting is the practice of processing all financial transactions and corporate data in a methodical manner. Accounting, in other...
Difference between Capital receipts and Revenue receipt
Capital Receipt
Difference between Capital receipts and Revenue receipt: Capital receipts are the income received by the company which...
Receipts: Capital receipts, Revenue receipt
Receipts: Capital receipts, Revenue receipt: Capital receipt and revenue receipt, both are the very important components of accounting. It is...
Unusual expenses, Effects of error
Unusual expenses, Effects of error: The income statement is a financial statement that details sales, costs, and earnings for a...
Expenditure and Classification
Expenditure and Classification: A payment for goods or services made using cash or credit is referred to as an expenditure. Unlike a...
Bank Reconciliation Statement
Bank Reconciliation Statement: It is used to maintain track of company transactions. The discrepancy between the bank statement and the general ledger is...
Purchase, Purchase returns, Sales, Sale return and cash book
Cash Book
Purchase, Purchase returns, Sales, Sale return and cash book: A cash book is a financial...
Book of original Subsidiary Books
Book of original Subsidiary Books: Subsidiary Books are original entry books in which related transactions are recorded in a single...
Rules Regarding posting
Rules Regarding posting: The balances in subledgers and the general journal are transferred into the general ledger during posting in accounting. The...
