by kasi | Jan 31, 2010 | Accounting
Accounting is called the language of business, in which different jargons are used for each concept. Depreciation is one of them and it is the most important concept used in accounting, finance and economics. Depreciation is the process, in which the value of fixed... by kasi | Oct 19, 2009 | Accounting
The accounting method used by most of the companies is double entry bookkeeping. To explore the benefits of double entry system it is important to understand the single entry bookkeeping. The single entry bookkeeping is similar like a checkbook register which have... by kasi | Aug 23, 2009 | Accounting
Debits and credits are the accounting terminologies which are used to describe the increase or decrease in the financial components. Any movement in these components can be specified by using the term debits and credits. In T-accounts, left column represents debits... by kasi | Aug 14, 2009 | Accounting
Accounting cycle is a sequence of accounting procedures which are used to record, classify and summarize accounting information. The accounting cycle begins with the initial recording of business transactions and concludes with the preparation of formal financial...