Accounting for Share Capital

Accounting for Share Capital

A company sort of organisation is that the third stage within the evolution of sorts of organisation. Its capital is contributed by an outsized number of persons called shareholders who are the important owners of the corporate.

Computer Application in Accounting

Computer Application in Accounting

Computer Application in Accounting is technological know-how and its utilization has registered an enormous improvement during the closing three decades. Historically, computer systems have been used efficiently in science and science to remedy complicated computational and logical problems. They have additionally been used for completing financial planning and forecasting processes. Recently, modern-day day computers have … Read more

Distinction between Capital and Revenue

Distinction between Capital and Revenue

A very important is the Distinction between Capital and Revenue Items in accounting. The distinction has important implications for creating the trading and profit and loss account and record. The revenue items form a part of the trading and profit and loss account, the capital items help with the preparation of a record. Whenever payment … Read more

Balance Sheet

Balance Sheet

Balance Sheet- The record may be a statement prepared for showing the financial position of the business summarizing its assets and liabilities at a given date. The assets reflect debit balances and liabilities (including capital) reflect credit balances. It is prepared at the top of the accounting period after the trading and profit and loss … Read more

Trading and Profit & loss Account

Trading and Profit & loss Account

Trading and Profit & Loss Account are prepared to determine the profit earned or loss sustained by the business enterprise during the accounting period. It is a summary of the revenues and expenses of the business and calculates the net figure termed as profit or loss. Profit is revenue for fewer expenses. If expenses are … Read more

Best Accounting Books for Beginners

Best Accounting Books for Beginners

1. Think Like an Accountant This book is written by Shubhasish Das. This is the Best Accounting Books for Beginners for all who are struggling to understand accounting and do not be aware of why. Then you are in the proper place. The sole motive of this book is to lead you from confusion to … Read more

Bill of Exchange

Bill of Exchange

What is a Bill of exchange? Bill of Exchange-Goods are often sold or bought for cash or on credit. When goods are sold or bought for cash, payment is received immediately. On the other hand, when goods are sold/bought on credit the payment is deferred to a future date. In such a situation, normally the … Read more

Difference between Provisions & Reserves

Difference between Provisions & Reserves

Difference between Provisions & Reserves- Provisions are certain expenses/losses that are related to the current accounting period but the amount of which is not known with certainty because they are not yet incurred. It is necessary to form a provision for such items for ascertaining true net income. For example, a trader who sells on … Read more

Petty Cash Book in Accounting

Petty Cash Book in Accounting

Petty cash book in accounting – In every organization a Petty Cash Book is maintained by many small payments such as conveyance, cartage, postage, telegrams, and other expenses (collectively recorded under miscellaneous expenses) made. These are generally repetitive in nature. If all these payments are handled by the cashier and are recorded in the main … Read more

Depreciation Meaning

Depreciation Meaning

What is a Depreciation? Depreciation meaning- The decline in the value of a fixed asset due to use, the passage of time, or obsolescence. if a business enterprise procures a machine and uses it in a production process then the value of the machine declines with its usage. Even if the machine is not used … Read more