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 Bin Card in Cost Accounting?
In cost accounting, bin cards are physical or electronic records used to track inventory levels in a stockroom, warehouse, or another storage facility. The
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What is the Difference Between Cost and Financial Accounting?
Financial accounting and cost accounting are two different types of accounting that are used to track and report the financial performance of a business. W
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What is the Owner’s Capital in Accounting?
In accounting, the owner’s capital refers to the owners’ equity in the business. This can be calculated by subtracting the liabilities from the
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What is Working Capital? Why is it Necessary for Businesses?
Working capital refers to the difference between a company’s current assets and current liabilities showing the liquidity strength of a company. Here
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What is the Impact of Big Data on the Accounting Profession?
Big data has had far-reaching effects on the accounting industry, and these effects are probably not exclusive to accounting. As with so many other aspects
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Why internal control is necessary for accounting system
Internal control procedures in accounting are the policies and procedures implemented by a company to ensure the reliability of financial reporting, safegu
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What is the Revenue Recognition Principle?
The revenue recognition principle directs a business to recognise revenue in the period in which it is earned; revenue is not considered earned until a pro
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What is Accounting Information System?
Today, when we refer to an accounting information system (AIS), we typically imply a computerised accounting system, as computers and computer software tha
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Top 10 Accounting Software for Indian Businesses
If you are an owner of a small business or a self-employed individual, then you must know that accounting can be a real pain. Keeping track of your finance
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Top 10 Accounting Software | Cloud and Desktop
There is accounting software out there that claims to be the best. Some of them are even more than software and include other services such as online accou