Financial Accounting 8 min read
Accounting for Consignment
Due to increasing size of market, it is quite obvious that manufacturers or whole sellers cannot approach directly to every…
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Category: Financial Accounting.
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Analysis of Changes in Income
The purpose of preparing a financial statement is not only to know the net income or losses of concern for…
Financial Accounting 6 min read
Financial Accounting – Inventory Valuation
The Institute of Chartered Accountant of India as per Accounting Standard-2 (Revised) defines inventory as the assets held − · For sale in…
Financial Accounting 11 min read
Bills of Exchange and Promissory Notes
Essentials of Bills of Exchange Following are the essentials of a bill of exchange − · Bill of exchange should be…
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…
Financial Accounting 5 min read
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…