Financial Accounting 9 min read
Measurement of Business Income
One of the most significant accounting concepts is “Concept of Income”. Similarly, measurement of a business income is also an…
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Author: Prabhu TL.
Prabhu TL is a SenseCentral contributor covering digital products, entrepreneurship, and scalable online business systems. He focuses on turning ideas into repeatable processes—validation, positioning, marketing, and execution. His writing is known for simple frameworks, clear checklists, and real-world examples. When he’s not writing, he’s usually building new digital assets and experimenting with growth channels.
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Provision and Reserves
Meaning of Provisions “Any amount written off or retained by the way of providing depreciation or diminution in the value…
Financial Accounting 12 min read
Financial Accounting – Final Accounts
Final Accounts are the accounts, which are prepared at the end of a fiscal year. It gives a precise idea…
Financial Accounting 8 min read
Financial Accounting – Royalty Accounts
Royalty is payable by a user to the owner of the property or something on which an owner has some…
Financial Accounting 4 min read
Financial Accounting – Voyage Accounting
To know the financial results of a marine business, voyage accounting is prepared. Voyage account is similar to a Profit…
Financial Accounting 7 min read
Departmental Accounting
Departmental stores have many types of stores under a single roof, for example one departmental store may have a cosmetic…
Financial Accounting 9 min read
Financial Accounting – Contract Account
Contracts are undertaken to customer’s requirements, which is generally of constructional. For example, construction of buildings, ships, Bridges, Roads, etc.…
Financial Accounting 9 min read
Government Accounting
Government accounting is a scientific procedure of collecting, classifying, recording, summarizing, and interpreting all the financial transactions including revenues and…
Financial Accounting 4 min read
Financial Accounting – Capital and Revenue
One of the major aspects of preparing a correct financial statement is to distinguish revenue and capital in regard to…
Financial Accounting 8 min read
Financial Accounting – Insurance Claims
Every business entity keeps sufficient stock as per the need and size of its respective business for smooth running of…
Financial Accounting 3 min read
Financial Accounting – Co-Operative Societies
Any ten persons who are competent to contract may file an application to the Registrar of Co-operative Societies as per…
Financial Accounting 15 min read
Accounts of Private Individuals
Most of the private individuals never keep their accounts to record earned income or expenditure incurred by them. It is…