Accounting Basics

Latest Accounting Basics News

Owner’s Equity

The equation of equity is as follows: Owner Equity = Assets –…

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Financial Statements

Financial statements are prepared to ascertain the profit or loss of the…

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Prabhu TL

Accounting – Process

Accounting cycle refers to the specific tasks involved in completing an accounting…

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Bank Reconciliation

On a particular date, reconciliation of our bank balance with the balance…

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Key Features of Subsidiary Books

There is a difference between a purchase book and a purchase ledger.…

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Bills Payable Book

Bills payable issues to the supplier of goods or services for payment,…

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Bills Receivables Book

Bills are raised by creditors to debtors. The debtors accept them and…

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Sale Return Book

The reason of Sale return is same as for purchase return. Sometimes…

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Purchase Return Book

Sometimes goods are to be retuned back to the supplier, for various…

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Prabhu TL

Sale Book

The features of a sale book are same as a purchase book,…

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Prabhu TL

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