Financial Accounting Concepts
Financial accounting is the process of recording, classifying, summarizing and communicating information about a business’s finances.
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Key Differences Between Revenue and Income
Revenue and income are two common terms seen on the Profit and Loss account or income statement of a company. Most students non-accounting persons don̵
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What is the Capital Adequacy Ratio?
In finance, stability is a key determinant for keeping the public trust and economic activities smooth. One of the critical measures that regulators and ba
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What are fundamental accounting principles?
Accounting is integral to any organization’s success, and fundamental accounting principles serve as a foundation for accurate financial reporting. F
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What do you mean by Systematic Risk
Systematic risks are market risks or undiversifiable risks, and the essential characteristic is that these are inherent risks that have an effect on the wh
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Ethical Perspectives in the Accounting Profession
Accountants have a significant responsibility to the public. This responsibility exists because outside shareholders, creditors, employees, and others rely
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What is Triple Bottom Line Reporting (TBLR)?
Triple Bottom Line Reporting (TBLR) is a new process that focuses on reporting, assessing and improving organisational performance for sustainability. This
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What is a Suspense Account in Financial Accounting?
A suspense account is a general ledger account that consists of certain transactions that cannot be immediately categorised under correct accounts. The cor
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Accounts for manufacturing businesses
What are manufacturing businesses? A manufacturing business is that which is involved in the production of manufacture of goods. Typical examples of manufa
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What is Prepaid Expense? Journal Entry in Books
Prepaid expenses are expenses that a company or business pays for in advance but which have not yet been incurred or used. These expenses can include items
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What are mutual fund loads? Meaning and Types
Mutual fund loads are sales charges or commissions levied on investors when they purchase or sell shares in certain types of mutual funds. The total charge