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...

Sum of Years Digit Method of Depreciation

The Sum of years digit method of depreciation is a revised form of Written down value or Reducing balance method of depreciation

Written Down Value or Reducing/ Diminishing Balance Method of Depreciation

Depreciation is the process of allocation of cost of an asset over its estimated useful life. This allocation is done by means of charging depreciation on the value of the Asset...

Methods of Depreciation: Straight Line Method or Fixed Installment Method

In the field of accountancy, several methods of charging depreciation are adopted by different entities. However before beginning with the discussion I would like to clarify that the methods of charging...

Accounting for Depreciation

In this article we will discuss the alternative methods to account for depreciation in the books of accounts. If you want to read about the concept of depreciation and why it...

Depreciation: Meaning and Need

Fixed Assets are held in business concerns for regular use and not for resale. However a fixed asset cannot render unlimited service to the business. Except Land, all other fixed assets...

Provision for Doubtful Debts

However cautious a business maybe, there will be some debtors regarding whom there is no certainty whether they will pay or not. So there is an element of doubt related to...

Difference between Bad and Doubtful Debts

Credit Sales are a normal phenomenon in a business and with the credit sales, there are bound to be Debtors. Now the Debtors bring with them the component of risk factor...

Bad Debts and Bad Debts Recovery: How to do the accounting?

Credit sales are a normal phenomenon of any business and we all know that an element of risk is associated with credit sales. No matter how careful the business owner is...

Reserves and Provisions

Provision   The word 'Provision' is used to denote an amount written off against or set aside out of profits. It is created to provide for a known liability the amount of which...

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