Accounting Principle

Depict in brief FOB destination and FOB shipping with example. FOB destination: FOB destination is a contraction of the term “Free on Board Destination.” The…

Closing entry are journal entry made at the end of an accounting cycle to set the balance of temporary accounts to zero to begin the…

Differences between Double Entry System and Single Entry System Single Entry System is an incomplete, incorrect, unscientific and haphazard method of book keeping. The name…

The scope or field of management accounting is very wide and broad-based and it includes a variety of aspects of business operations. It is the…

The single entry method is a partial structure of demo financial transactions. It is the method, which has no permanent set of rules to documentation the…

Single Entry System is a partial, erroneous, unempirical and disorganized method of bookkeeping. It is focused on the results of a business that are reported…

Single Entry System is an incomplete, incorrect, unscientific and haphazard method of bookkeeping. The name of the system itself shows that the double aspects of…

Provision for Bad and Doubtful Debts Every business suffers a percentage of bad debts over and above the debts definitely known as irrecoverable and written…

Advantages of Management Accounting Management accounting is the sourcing, analysis, communication and applies to decision-relevant financial and non-financial information to produce and protect value for…

Final Account Adjustments When a person starts a business he requirements to know the financial performance of his business. A suitable and generally established technique…