Accounting
There are 16 articles in this category.
Generating Financial Information And Users Of Financial Information
Views: 10256
Published: 2018-01-09
Author: Dheeraj
Published In: Accounting
Generating financial information involves the following steps:- Identifying: This is the first stage or step in generating the financial information. It involves identifying and capturing the financial data from the source documents like vouchers or bills. . . . .
Use the following link to read the full article ~ Generating Financial Information And Users Of Financial Information
Accounting And Its History
Views: 8282
Published: 2018-01-10
Author: Dheeraj
Published In: Accounting
This is the first article of our series of intensive series of articles to make understand Accounting and its concepts in a simple and efficient way. Lets get started with the term Accounting and its history. History & Meaning of Accounting: Accounting . . . .
Use the following link to read the full article ~ Accounting And Its History
Accounting
Views: 2527
Published: 2018-01-10
Author: Dheeraj
Published In: Accounting
The road map of the series of the articles that are covered are linked in the manner of table of contents. Please click on the links to get redirected to the topics. Basics . . . .
Use the following link to read the full article ~ Accounting
Book Keeping Vs. Accounting
Views: 8735
Published: 2018-01-10
Author: Dheeraj
Published In: Accounting
In this article, we will learn what is Book keeping and how Book keeping is different from Accounting. Bookkeeping refers basically to the process of record keeping aspects. The process begins from . . . .
Use the following link to read the full article ~ Book Keeping Vs. Accounting
Objectives And Functions Of Accounting
Views: 16466
Published: 2018-01-11
Author: Dheeraj
Published In: Accounting
In the previous article, we have seen the meaning of the term “Accounting” and its history. In this article, we will discuss about what are the objectives and functions of . . . .
Use the following link to read the full article ~ Objectives And Functions Of Accounting
Branches (or) Sub-Fields Of Accounting
Views: 7944
Published: 2018-01-15
Author: Dheeraj
Published In: Accounting
TYPES OF ACCOUNTING OR SUB-FIELDS OF ACCOUNTING The need of business along with the various technological, economical, industrial, financial, and other specialized fields are resulting in the necessity of different subfields of accounting. Nowadays accountants are trying to . . . .
Use the following link to read the full article ~ Branches (or) Sub-Fields Of Accounting
Accounting Concepts, Principles And Conventions
Views: 33578
Published: 2018-01-22
Author: Dheeraj
Published In: Accounting
Accounting Concepts Basic concepts of accounting governs the various aspects and procedures of accounting and helps to maintain and prepare accounting records and financial statements in a better, understandable, comparative and a uniform manner. The concepts of accounting are as follows: . . . .
Use the following link to read the full article ~ Accounting Concepts, Principles And Conventions
Approaches To Accounting And Golden Rules Of Accounting
Views: 9103
Published: 2018-01-23
Author: Dheeraj
Published In: Accounting
There are various approaches which are used for the formulation of accounting process. Under double entry book keeping system, transaction with invoices or proper documents acting as evidence to them are analysed in terms of money and are recorded in the books of accounts. Two approaches are followed for . . . .
Use the following link to read the full article ~ Approaches To Accounting And Golden Rules Of Accounting
Financial Statements And Characteristics Of Financial Statements
Views: 7812
Published: 2018-01-23
Author: Dheeraj
Published In: Accounting
Financial statements are the statements that exhibits the periodic performance results through Profit & loss account (for Trading entities) or Income and Expenditure account (for Non- Trading Concerns), Financial position as on a particular day through Balance sheet, Cash flows and utilization of cash for various activities through Cash . . . .
Use the following link to read the full article ~ Financial Statements And Characteristics Of Financial Statements
Books Of Accounts
Views: 4182
Published: 2018-01-24
Author: Dheeraj
Published In: Accounting
Books of accounts are the records which are prepared and maintained of the day to day activity of business. Books of accounts are of mainly of two types, namely manual books of accounts and computerized books of accounts. Manual books of accounts are the manually maintained traditional . . . .
Use the following link to read the full article ~ Books Of Accounts
Profit And Loss Account
Views: 5786
Published: 2018-01-24
Author: Dheeraj
Published In: Accounting
Profit & Loss account: Though generally called as Profit & Loss account, it has two parts in it called Trading Account Profit and loss account Trading account It is . . . .
Use the following link to read the full article ~ Profit And Loss Account
Types Or Classification Of Transactions
Views: 2938
Published: 2018-01-24
Author: Dheeraj
Published In: Accounting
Every transaction that a company enters into can be any of the two types i.e, Revenue nature Capital . . . .
Use the following link to read the full article ~ Types Or Classification Of Transactions
Trial Balance
Views: 4024
Published: 2018-01-24
Author: Dheeraj
Published In: Accounting
Trial balance is basically prepared at the end of an accounting period, which acts as the first step towards the preparation of financial statements. Trial balance is a list of closing balances of all the ledger accounts at a specific time that is . . . .
Use the following link to read the full article ~ Trial Balance
Balance Sheet
Views: 1927
Published: 2018-01-24
Author: Dheeraj
Published In: Accounting
Balance sheet is the final account which represents the financial position of an entity as on the date of preparing the balance sheet. This statement or account contains the balances of all the accounts after posting of transactions in the respective accounts that are carried . . . .
Use the following link to read the full article ~ Balance Sheet
Cash Flow Statement
Views: 2365
Published: 2018-02-03
Author: Dheeraj
Published In: Accounting
Cash flow statement is one of the elements of Financial statement which describes the flow of cash through the business. It shows the inflow and outflow of cash happening in business. It is an . . . .
Use the following link to read the full article ~ Cash Flow Statement
Rectification Of Errors
Views: 4111
Published: 2018-02-03
Author: Dheeraj
Published In: Accounting
Unintentional mistakes or accounting ignorance done at the time of recording or processing which results in some difference in financial statements with that of actual figures of the financial statement are known as errors of accounting. These errors are considered non- fraudulent as they are done . . . .
Use the following link to read the full article ~ Rectification Of Errors
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