Accounting Basics 1 min read
Accounting Analysis
Comparative analysis and interpretation of accounting data is called Accounting Analysis. When accounting data is expressed in relation to some…
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Management Accounting – Ratio Analysis
Ratio is an expression of relationship between two or more items in mathematical terms. Exhibition of meaningful and useful relation…
Accounting Basics 2 min read
Cash Flow Indirect Method
● Two Balance Sheet requires. ● No need of Profit & Loss account in Indirect Method. ● Non Cash Item require. ● We need…
Accounting Basics 2 min read
Non-Cash Transactions
Some investing and financing activities do not have any direct impact on cash flows. For example, conversion of debt to…
Accounting Basics 4 min read
Management Accounting – Cash Flow
It is very important for a business to keep adequate cash in hand to meet day-to-day expenditures and to invest…
Accounting Basics 2 min read
Treatment of Some Typical Items
The treatment of some typical cash flow items is discussed below. Extraordinary Items Inflow or outflow of cash is classified…
Accounting Basics 3 min read
Classification of Cash Flows
According to AS-3 (Revised), cash flows should be classified in three main categories: ● Cash Flow from operating activities ● Cash Flow…
Accounting Basics 2 min read
Management Vs. Financial Accounting
All monetary transactions are recorded in the books of accounts on historical cost basis. Financial statements are prepared to ascertain…
Accounting Basics 2 min read
Management vs. Cost Accounting
Management accounting collects data from cost accounting and financial accounting. Thereafter, it analyzes and interprets the data to prepare reports…
Accounting Basics 1 min read
Dual Aspect Concept
There must be a double entry to complete any financial transaction, means debit should be always equal to credit. Hence,…
Accounting Basics 2 min read
Objectives of Management Accounting
Let us go through the objectives of management accounting: Planning and Formulating Policies In the process of planning and formulating…
Accounting Basics 3 min read
Characteristics of Management Accounting
Management accounting provides data to the management on the basis of which they take decisions to achieve organizational goals and…