best accounting,financial accounting,cost accounting reading material
Simply a statement showing income, expenses, and profit or loss of firm is called income statement. In technical terms it…
Constant Item Purchasing Power Accounting (CIPPA) is the International Accounting Standards Board's basic accounting alternative authorized in International Financial Reporting…
Balance sheet is the statement of financial position of a company. It depicts the financial position (sound or weak) of…
Generally Accepted Accounting Principles (GAAP) is an international recognized and accepted concept of standard framework and rules to ensure uniform…
Financial reporting standards are periodically issued by International Financial Reporting Standard Board. These standards are meant to ensure uniformity in…
In history landlords used to appoint a literate person to write their financial information and to maintain accounts of their…
Assets are shown in the balance sheet at the historical cost i.e. cost at which they were acquired. But it…
According to the matching principle of accounting expenses of the same period must be compared to or deducted from the…
Bookkeeping is the recording of financial transactions such as sales, purchases, receipts, and payments. The person liable to record is…
A statement of reconciling the balances between bank book and bank statement is called bank reconciliation statement. Bank book is…