Journal Entries for bills of exchange

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 read: An Introduction to Bills of ExchangeDiscounting,...

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 maturity).However it may so happen that the...
An Introduction to Bills of Exchange

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 lured with the facility of enjoying credit...
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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 watching a video tutorial, read along. What is...
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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 the state of financial affairs of a...
Rectification of Errors

Rectification of Errors in Accounting: Nature and Types of Errors with Rectification Guidelines

Introduction In this article we are going to discuss the process of rectification of errors which can crop up into the bookkeeping process.  Since bookkeeping is a manual process, when transactions are...

Debit Note and Credit Note: Meaning and Uses

Debit note and credit note are frequently used documents in any business and is of paramount importance for adjustments in the balances of debtors and creditors. In this article, I am going...
SELF BALANCING LEDGER

What are Self Balancing Ledgers and Why are they used.

Many students I encounter tell me that they get confused with the concept of Self Balancing Ledger (also called the Self Balancing System). This fact astonishes me as the concept of...
Journal Proper

What is Journal Proper and When is it used?

Journal Proper is a term that every accounting student has heard. However lot of them are unsure of what a Journal Proper is and what is its purpose. If you are...

Events and Transactions in Accountancy

This article will give you a brief understanding and difference between events and transactions from the accounting point of view.Events In ordinary language an event means an occurrence that causes a change...

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