Objective of Accounting
There are 5 Objectives of Accounting :- Permanent Record Any business firm needs a permanent record of the transactions that it indulges...
Golden Rules Of Accounting
Debit The Receiver, Credit The Giver This principle is used in the case of personal accounts. When a person gives something to the...
Accounting Process By Recording of transaction
Accounting equation: analysis of transactions using accounting equation. Rules of debit and credit: for assets, liabilities, capital,...
Accounting For Bills Of Exchange
Bills of exchange and promissory note: definition, features, parties, specimen and distinction. Important terms : term of bill, due date,...
Taxation
A tax is a mandatory financial charge or some other type of levy imposed upon a taxpayer (an individual or other legal entity) by a...
Internal Audit v/s External Audit
Internal auditors are often confused with external auditors, however, there are significant differences between the professions. External...
Internal Audit
"Internal audit is a dynamic profession involved in helping organisations achieve their objectives. It is concerned with evaluating and...
Accounting Concepts
Accruals concept. Revenues are recognized when earned, and expenses are recognized when assets are consumed. This concept means that a...
