Basics 5 min read
Promissory Note
Negotiable Instrument Act, 1881 defines a Promissory Note as “as instrument in writing (not being a bank note or a…
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 5 min read
Accounting Of Negotiable Instruments
Introduction Business transactions are either cash transactions or credit transactions. In cash transactions, goods are sold and transferred to the…
Basics 4 min read
Location Of Errors
The location of errors of omissions, compensations and principles are slightly difficult because of the fact that such errors do…
Basics 5 min read
Rectification Of Errors
Introduction Every concern is interested in ascertaining its true profit/loss and financial position at the close of the trading year.…
Basics 5 min read
Profit And Loss Account
Trading Account results in the gross profit/loss made by a businessman on purchasing and selling of goods. It does not…
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…
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,…