Basics 3 min read
Manufacturing Account
The concern which are engaged in the conversion of raw materials into finished goods, are interested to knowing the cost…
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Basics 6 min read
Preparation Of Profit And Loss Account And Balance Sheet
Introduction The transactions of a business enterprise for the accounting period are first recorded in the books of original entry,…
Basics 2 min read
Purchase Book
Purchases Book (also known as Invoice Journal/Bought Journal/Purchases Journal) is used for recording only the credit purchases of goods and…
Basics 3 min read
Petty Cash Book
In every business organisation, there are a number of payments which involve small amounts e.g. payments for postage, telegrams, carriage,…
Basics 6 min read
Double Column Cash Book
This Cash Book has two amount columns one for cash and another for discount on each side. It is customary…
Basics 6 min read
Subsidiary Books Of Accounts
Introduction All business transactions, at the first stage, are recorded in the book of original entry i.e. Journal and then…
Basics 3 min read
Trial Balance
In case, the various debit balances and the credit balances of the different accounts are taken down in a statement,…
Basics 8 min read
Ledger Posting And Trial Balance
Introduction It has already been discussed in earlier lesson that accounting involves recording, classifying and summarising the financial transactions. Recording…
General Concepts 2 min read
pH Control
pH can be surprisingly difficult to control. It seems simple: why not just install a pH probe and have an…
Basics 6 min read
Accounting Conventions
1. Convention of Materiality Materiality concept states that items of small significance need not be given strict theoretically correct treatment.…
Basics 11 min read
Accounting Concepts
The more important accounting concepts are briefly described as follows: 1. Separate Business Entity Concept In accounting we make a…
Basics 6 min read
Accounting Concepts And Conventions
Introduction Accounting is often called the language of business because the purpose of accounting is to communicate or report the…
