When the business is small, it is easy to record every transaction in a single book called ‘Journal’. Journal is also known as the book… Read More
Category Archives: Accountancy
A provision in accounting refers to an amount that has been set aside from the profits of the business in order to meet an unanticipated… Read More
What is a Purchase Return Book? The Purchase Return Book basically refers to the subsidiary book where the record of the ‘return of goods purchased… Read More
CBSE Class 12 Syllabus for the 2023-24 academic year has been released by the Central Board of Secondary Education. CBSE Class 12 syllabus includes a… Read More
What is Trade Payable Turnover Ratio? Trade Payable Turnover Ratio is a financial ratio that measures how efficiently a company pays its suppliers for the… Read More
Contingent Assets: A Contingent Asset is an economic gain that may come into existence in near future as a result of some past action. The… Read More
A debenture can be described as a debt instrument issued by a company to the public in order to raise funds for medium or long-term… Read More
In a business, there are numerous transactions that take place on regular basis, these can be the purchase and sale of goods and services, receiving… Read More
A Bank Statement and a Bank Reconciliation Statement are often considered as same. But there are differences between them. A Bank Pass Book is the… Read More
The Goods and Services Tax or GST is a single, indirect tax that integrates all indirect taxes within the Indian economy. GST is a destination-based… Read More
Goodwill is nothing but a monetary value of a reputation of a business firm in the market, earned by the firm by serving its customers.… Read More
A debenture can be described as a debt instrument issued by a company to the public in order to raise funds for medium or long-term… Read More
What is a Bill of Exchange? A bill of exchange is a written order that one party receives from another requiring them to pay the… Read More
What is Joint Life Policy? Joint Life Policy is a life policy that gives coverage against the death of the policyholder, under which the coverage… Read More
Trial Balance is basically a statement having a debit side and a credit side where all the debit balances of journal entries and ledger postings… Read More
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