Basics
Reconciliation Of Bank Accounts
Introduction In modern business world, the major part of the business transactions is settled by cheques. For the…
August 16, 2021 · Boomi NathanBasics
Basics
Promissory Note
Negotiable Instrument Act, 1881 defines a Promissory Note as “as instrument in writing (not being a bank note…
August 16, 2021 · Boomi NathanBasics
Accounting Of Negotiable Instruments
Introduction Business transactions are either cash transactions or credit transactions. In cash transactions, goods are sold and transferred…
August 16, 2021 · Boomi NathanBasics
Location Of Errors
The location of errors of omissions, compensations and principles are slightly difficult because of the fact that such…
August 16, 2021 · Boomi NathanBasics
Rectification Of Errors
Introduction Every concern is interested in ascertaining its true profit/loss and financial position at the close of the…
August 16, 2021 · Boomi NathanBasics
Profit And Loss Account
Trading Account results in the gross profit/loss made by a businessman on purchasing and selling of goods. It…
August 16, 2021 · Boomi NathanBasics
Manufacturing Account
The concern which are engaged in the conversion of raw materials into finished goods, are interested to knowing…
August 16, 2021 · Boomi NathanBasics
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…
August 16, 2021 · Boomi NathanBasics
Purchase Book
Purchases Book (also known as Invoice Journal/Bought Journal/Purchases Journal) is used for recording only the credit purchases of…
August 16, 2021 · Boomi NathanBasics
Petty Cash Book
In every business organisation, there are a number of payments which involve small amounts e.g. payments for postage,…
August 16, 2021 · Boomi Nathan