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Statement of Affairs Method for Calculation of Profit or Loss under...

A trader may keep his accounting records under the single entry system due to lack of resources or expertise. However he would be equally...

Single Entry System: Accounting for Small Business from Incomplete Records:

Introduction to Single Entry System Who use the Single Entry System and Why? Single Entry System of Accounting, also known as Accounting from Incomplete Records, is...

Difference Between Bookkeeping and Accounting

Many students and professionals generally have the concept that Bookkeeping and Accounting are synonymous. However they are not same and there is massive difference...

Accounting for Bills of Exchange: Journal Entries for Various Transactions

Accounting For Bills Of Exchange: Journal Entries for Bills of Exchange In this article I will be discussing the Journal entries for Bills of Exchange.Also...

Bills of Exchange: Discounting, Endorsement, Dishonour, Noting & Protest etc.

Discounting of Bills of Exchange Bills of Exchange are generally payable after a certain period which is called the tenure of the bill (i.e on...

An Introduction to Bills of Exchange

Introduction You must be aware of the fact that in the modern business scenario, most of the business transactions are made on credit. Customers are...

Entity Concept of Accounting

Entity Concept of Accounting The above video gives an indepth understanding of the Entity Concept of Accounting. However if you wish to read instead of...

GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) | Meaning and Need

GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) | Meaning and Need Accounting is the language of the Business. It is used to express the financial results and...

ACCOUNTING CONCEPTS | GOLDEN RULES OF ACCOUNTANCY

Golden Rules of Accountancy or The Traditional Approach of Double Entry System In this video I have tried to explain the Traditional Approach to the...

Double Entry System Part 2 | Accounting Equation | Modern Approach...

Double Entry System Part 2 | Accounting Equation | Modern Approach for Double Entry System In this video I have tried to explain the derivation...

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