Financial Accounting Concepts
Financial accounting is the process of recording, classifying, summarizing and communicating information about a business’s finances.
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What are sundry expenses?
Sundry expenses refer to all those small, miscellaneous expenses that businesses incur during their operations but don’t fall under any specific cate
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Difference between COGS and Cost of sales
The terms COGS and cost of sales are often used interchangeably. However, they represent two different concepts that can have a significant impact on a com
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What is Net Realisable Value (NRV)?
Net Realisable Value is the value of a product after subtracting the expected costs of production, transaction costs and taxes related to the sale of the i
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What is Discounted Payback Period Method?
The discounted payback period method is a tool for investment appraisal that is used to determine how long it will take to recoup the project’s initi
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What Are the Limitations of Financial Accounting?
Many of us still belief that the financial accounting system is perfect, and it would be a miracle to find something wrong with the financial accounting sy
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Different systems of maintaining the accounts of a dependent branch
Question 1. Explain the different systems of maintaining the accounts of a dependent branch. How is profit ascertained under each system? Discuss. A depend
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What are Liquidity Ratios? – Meaning and Formula
Liquidity ratios measure the short-term financial solvency of a business. Here the short term refers to a period of 12 months or lesser. Investors typicall
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Understanding the Face Value of a Share: A Beginner’s Guide
If you’re new to the stock market, you may have heard the term “face value” being used when referring to shares. But what does it actuall
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ECO-14 Accountancy II – Solved IGNOU Assignment
Assignment Code: ECO-14/TMA/2021-22 What are the different types of branches? Explain various methods of keeping branch accounts in the books of the Head O
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What is the Matching Principle of Accounting?
The Matching Principle is a fundamental accounting concept that aims to ensure that expenses are recognized in the same period as the related revenues. It