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 is the Importance of Trading Account in Final Accounts
The Trading Account forms one of the critically important components of a company’s final accounts as it will determine gross profit or loss from its
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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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Classification of Accounts in Bookkeeping
Bookkeeping is the basis of financial management. All business transactions must be systematically recorded and categorized in bookkeeping. Classification
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How to Prepare Profit and Loss Account?
A profit and loss account, also known as the income statement or statement of revenues and expenses, is prepared to ascertain the profit earned or los
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What are Coverage Ratios – Meaning and Calculation
A coverage ratio is a common metric used in financial analysis that determines how much of a company’s assets are covered by its liabilities. This ra
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What is Financial Statement Analysis?
The term ‘financial statement analysis‘ refers to determining the firm’s financial position by reviewing and analysing the balance sheet items, profi
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The Meaning of Consignment Accounting
Consignment refers to selling the goods manufactured by a company through an agent. This sales method is especially popular among businesses located abroad
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What are various methods of valuation of goodwill?
Goodwill is an intangible asset that represents the value of a business’s reputation, customer base, brand recognition, and other non-physical assets
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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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What Are Accounting Principles, Concepts and Conventions?
Accounting is a fundamental aspect of running a business. It involves recording, analyzing, and interpreting financial transactions to provide an accurate