Showing posts from November, 2020

PRINCIPLES OF ACCOUNTING

MEANING AND DEFINITIONS OF ACCOUNTING The meaning of accounting is broader than…

Book Keeping in Accounting

MEANING AND DEFINITIONS OF BOOK-KEEPING   Book-keeping is the act of keeping wr…

Cash Transaction and It's Meaning

CONCEPT OF CASH TRANSACTIONS All financial transactions are ultimately settled …

Subsidiary Books and It's importance

CONCEPT OF SUBSIDIARY BOOKS A big business needs to perform a large volume of f…

How sales and sales return taken in journal

When goods are sold in a cash, the sales account is credited. Cash belongs to …

Trial Balance Concept and Definition

Trial balance is an important statement prepared under the double-entry system.…

What are the rules of preparing Journal Voucher

The new accounting system follows the principle of double-entry. Under a double…

Ledger Account and It's Importance

LEDGER ACCOUNT To help reveal the financial position: The ledger also contains …

Budget Sheet and It's Importance

One of the important objectives of the new government accounting is to help co…

What is statement of expenditure

The new government accounting system requires an operating level office to regu…

Petty Cash Book and It's Concept

The new government accounting system emphasizes that government transactions h…

Concept Of Government Accounting

Accounting is concerned with the processing of financial information of an ent…

Single Entry System and It's Meaning

Concept Of Single Entry System There are different forms of business concern…

Non-Trading Concerns and It's accounts

Concept of Non-Trading Concerns There are many concerns that have the main mo…

Provision and It's Objectives

A provision is the sum of the amount set aside by charging against the profit a…

Reserve and It's Concept

A business has to face several known and unknown contingencies and losses. Ther…

Depreciation and It's concept

Meaning    of depreciation Every business wons and uses fixed assets such as la…

Journal Voucher and It's concept

Definition of Journal Voucher Journal Voucher can be defined as the form of or…

What really capital formation is | Process of Capital Formation

Capital formation means increasing the real stock of capital of a country. It i…

What is Market Equilibrium | All about market equilibrium 2021

Market equilibrium is a state of perfect balance in the market brought about by…

Why does the Supply Curve Slope Upward from Left to Right?

The supply curve SS is obtained by plotting the supply schedule and joining the…

Is Economics a Science or an Art?

Economists differ regarding the nature of economics. To know the nature of econ…

Concept Of Utility

What is the concept of Utility in Economics The concept of 'Utility' w…

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