Basics 7 min read
What is petty cash?
Petty cash meaning Petty cash is a small amount of cash on hand that is used for paying small amounts owed,…
THE ARCHIVES
Author: Boomi Nathan.
J. BoomiNathan is a writer at SenseCentral who specializes in making tech easy to understand. He covers mobile apps, software, troubleshooting, and step-by-step tutorials designed for real people—not just experts. His articles blend clear explanations with practical tips so readers can solve problems faster and make smarter digital choices. He enjoys breaking down complicated tools into simple, usable steps.
Basics 6 min read
What is owner’s equity?
Owner’s equity is one of the three main components of a sole proprietorship’s balance sheet and accounting equation. Owner’s equity represents the owner’s…
Basics 6 min read
How do I calculate the amount of sales tax that is included in total receipts?
To calculate the sales tax that is included in a company’s receipts from items subject to sales tax, divide the receipts by…
Basics 6 min read
What is the cost of goods sold?
The cost of goods sold is the cost of the merchandise that a retailer, distributor, or manufacturer has sold. The…
Basics 5 min read
What is the difference between the cash basis and the accrual basis of accounting?
Under the cash basis of accounting… 1. Revenues are reported on the income statement in the period in which the cash is received from…
Basics 5 min read
What is the distinction between debtor and creditor?
A debtor is a person or enterprise that owes money to another party. (The party to whom the money is owed is…
Basics 4 min read
What are accruals?
Accruals are adjustments for 1) revenues that have been earned but are not yet recorded in the accounts, and 2) expenses that have been incurred…
Basics 4 min read
What is the difference between accounts payable and accounts receivable?
Accounts payable are amounts a company owes because it purchased goods or services on credit from a supplier or vendor. Accounts receivable are amounts a company…
Basics 7 min read
What is the purpose of subsidiary ledgers?
A subsidiary ledger contains the details to support a general ledger control account. For instance, the subsidiary ledger for accounts receivable contains…
Basics 5 min read
What is a general ledger account?
A general ledger account is an account or record used to sort and store balance sheet and income statement transactions. Examples of general ledger accounts…
Basics 4 min read
Underwriting Agreement
After the determination of the Issue Price and allocation of our Equity Shares but prior to filing of the Prospectus…
Basics 3 min read
Under Writing of Shares and Debentures
Underwriting is an agreement, with or without conditions, to subscribe to the securities of a body corporate when existing shareholders…