Posted inBasics
Posted inBasics
Accounting Period Concept
The life of a business unit is indefinite as per the going concern concept. To…
Posted inBasics
Dual Aspect Concept
There must be a double entry to complete any financial transaction, means debit should be…
Posted inBasics
Cost Concept
It is a very important concept based on the Going Concern Concept. We book the…
Posted inBasics
Going Concern Concept
Our accounting is based on the assumption that a business unit is a going concern.…
Posted inBasics
Money Measurement Concept
According to this concept, “we can book only those transactions in our accounting record which…
Posted inBasics
Business Entity Concept
According to this concept, the business and the owner of the business are two different…
Posted inBasics
Accounting – Process
Accounting cycle refers to the specific tasks involved in completing an accounting process. The length…
Posted inBasics
Objectives and Scope of Accounting
Let us go through the main objectives of Accounting: ● To keep systematic records - Accounting is done…
Posted inBasics
Golden Rules of Accounting
The Problem with Debit Credit Rules The system of debit and credit is right at…
Posted inBasics
Accounting – Overview
Accounting has been hailed by many as the “language of business”. There are many quotations…