Basics 3 min read
Preparation Of Receipts And Payments Account From Income And Expenditure Account
The practical steps involved in the preparation of a Receipts and Payments Account from an Income and Expenditure Account are:…
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Basics 2 min read
Preparation Of Income And Expenditure Account
The practical steps involved in the preparation of an Income and Expenditure Account from the Receipts and Payments Account are…
General Concepts 3 min read
Unit operations that cannot be simulated
Refinery Process Modeling by Gerald Kaes is a great book on using commercial process simulation packages to model refineries and…
Basics 7 min read
Balance Sheet
Balance Sheet of a non-trading concern is prepared in the usual way and contains particulars of all assets on right-hand…
Basics 4 min read
Income And Expenditure Account
It is a nominal account of non-trading institutions equivalent to the Profit and Loss Account of the business concerns. It…
Basics 4 min read
Accounts For Non-Profit Making Organisations
Introduction Non-profit making organisations, also known as non-trading institutions or organisations, include such voluntary associations of persons as are formed…
Basics 3 min read
Insurance Policy Method
Under this method, instead of investing the money in securities an insurance policy for the required amount is taken. The…
Basics 6 min read
Depreciation Fund Method
Business assets become useless at the expiry of their life and therefore, need replacement. However, all the methods of depreciation…
Basics 2 min read
Annuity Method
Sofar we have described such methods of charging depreciation which ignore the interest factor. Also, sometimes it becomes inconvenient for…
Basics 5 min read
Methods Of Calculating Depreciation
The following are various methods of depreciation in use: 1. Fixed instalment method or straight-line method. 2. Machine hour rate…
Basics 3 min read
Causes Of Depreciation
The depreciation occurs because of the following: 1. Constant use: The constant use of assets results into their wear and…
Basics 4 min read
Accounting For Depreciation
Introduction The term depreciation refers to the reduction in or loss of quality or value of a fixed asset through…
