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...
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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...

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...

Bank Reconciliation Statement (BRS)

What is Bank Reconciliation Statement?Bank Reconciliation Statement is a statement prepared to reconcile and explain the causes of disagreement between the bank balance as per cash book and the same as...

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

Non Profit Accounting: Accounting for Non Profit Organizations

Introduction to Non Profit Accounting There are many organisations which are not run with the objective of earning profit. In this article we will learn how to do accounting for non profit...

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...
Statement of Affairs

Statement of Affairs Method for Calculation of Profit or Loss under Single Entry System

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

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