Working Capital Management
What is Working Capital Management? Working capital is a balance sheet item, which equals the sum of cash and cash equivalents, accounts receivable, inventory, marketable securities, prepaid expenses and other…
Cash Flow Statement
What is Cash Flow Statement? The cash flow statement shows the inward and outward flow of cash of a company within a fixed period. A cash flow statement is a…
Bank Reconciliation Statement
What is Bank Reconciliation Statement? A bank reconciliation statement is a document that explains the differences between the balance shown in an organization's bank account and the balance shown in…
What is Financial Statements?
What is Financial Statements? Preparation, Limitations, Nature
What is Financial Statements?
Rectification of Errors
What is Rectification of Errors? The process of correcting the errors committed and to set the accounting records right is called rectification of errors. So accounting errors are the errors…
Financial Accounting
Financial Accounting: Roles, Importance, Benefits, Limitations
What is Financial Accounting? Financial accounting is the process of summarising financial data, which is taken from an organisation's accounting records and publishing it in the form of annual or…
Element Of Cost
Meaning of Cost C I M A Terminology defines cost as resources sacrificed or forgone to achieve a specific objective. Cost is generally measured in monetary terms. Cost is the…
Accounting For Hire Purchase
Hire Purchase A hire purchase agreement is one under which the buyer takes delivery of goods, promising to pay the price in certain number of instalments and until full payment…
Bills of exchange
Bills of exchange Indian Negotiable Instrument Act, 1881 defines Bill of exchange as, “A bill of exchange is an instrument in writing containing an unconditional order, signed by the drawer,…
What is Depreciation Accounting
What is Depreciation Accounting? Definition, Characteristics, Methods, Causes
What is Depreciation Accounting? What is Depreciation Accounting Depreciation is a measure of wearing out consumption or loss in value of assets that are depreciable due to use, time period…