The following are various methods of depreciation in use: 1. Fixed instalment method or straight-line…

The depreciation occurs because of the following: 1. Constant use: The constant use of assets…

Introduction The term depreciation refers to the reduction in or loss of quality or value…

In certain cases, it is not possible for the business to take inventory on the…

The basic methods of valuation of inventories are as follows: (a) Historical cost-based method (b)…

Introduction The literary meaning of the word inventory is stock of goods. To the finance…

We have seen under the net worth method in the preceding explanation that the method…

In case of a business maintaining accounts according to single entry system, profit (or loss)…

Introduction Single Entry System is an incomplete ‘double entry system’. In case of double entry…

Introduction In modern business world, the major part of the business transactions is settled by…