Accounting

The money measurement assumption underlines the information that in accounting each worth-recording event, occurrence or transaction is recorded in terms of money. In accounting, only…

Accounting Entity Assumption states that a business is a divide legal entity from the proprietor. In the accounts, the business’ monetary transactions are recorded only.…

An accounting cycle is a entire progression of accounting procedure, that begins with the recording of trade transactions and ends with the preparation of concluding…

Importance of Book-keeping in Business Information Permanent and Consistent Record: Book-keeping provides eternal evidence for all business transactions, replacing the recollection which fails to keep…

Functions of Accounting in communicating information In order to complete its major purpose of communicating information to the users, accounting embraces the following functions. Identifying…

Book-keeping is a division of acquaintance which tells us how to maintain documentation or record of business transactions. It is regularly routine and clerical in…

Definition of an account is proof in the general ledger that is used to accumulate and store debit and credit amounts. The account is an…

Receipt is an acknowledgement for cash received. It is issued to the party paying cash. Receipts form the source for entries in cash book. Receipts…

An invoice occasionally called a sales invoice, is a bill sent by a supplier of a product or service to the buyer. It is a business…

Voucher is a written document in sustain of a transaction. It is a document that shows goods have bought or services have been rendered, authorizes…