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 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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Top 10 Accounting Software | Cloud and Desktop
Whether you operate a small business or a large corporation, the proper accounting software can simplify bookkeeping, calculate taxes automatically, and of
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Default and Repossession in Hire Purchase
In this post, we will discuss default and repossession, which are two crucial elements of the hire purchase accounting system. Let’s understand them
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Meaning and Objectives of Preparing Cash Flow Statement
Cash is critical to a business’s economic life. A business requires cash to pay suppliers, incur daily expenses, and pay salaries, wages, interest, a
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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 is a Consolidated Financial Statement?
A consolidated financial statement is a report of financial position and performance of a parent company and its subsidiaries as a single entity. It is an
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What is a Trial Balance? | Objectives and Rules
A trial balance is a bookkeeping or accounting report that lists the balances in each of an organization’s general ledger accounts. Whenever a trial
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Difference Between Net Profit and Gross Profit
Profit is one of the most significant measures of a company’s financial well-being, but profits differ. Two critical metrics—gross profit and net pro
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Key Users of Financial Statements for Decision-Making
Financial statements are an essential source of financial information for a wide range of users and decision-makers. These statements provide a comprehensi
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What are capital structure ratios in accounting?
Capital structure ratios are financial assess company’s long-term financial stability and the proportion of debt and equity in its financing These ra