Cash Flow Statement (II) – Features and Limitations
Salient features of Cash Flow Statement:- To ascertain cash requirements: The Cash Flow Statement helps in ascertaining the requirements of…
Cash Flow Statement (I) – Need and Relevance
The Financial Statements of an Organisation provides the operational results and financial position of an Organisation. The operational results shows…
Rules of Debit and Credit – Traditional Approach vs Modern Approach
Under the DOUBLE ENTRY SYSTEM OF BOOK-KEEPING every transaction has two aspects. One aspect is recorded on Left Hand Side…
Difference between Wages and Salaries and their treatment in Final Accounts
There has often been a confusion among students/learners when the term “Wages and Salaries” and “Salaries and Wages” appears while…
Charge against Profit vs Appropriation of Profit
There is often confusion among students regarding the terms “Charge against Profits” vs “Appropriation of Profits”. Some of them are…
Can Closing Stock appear inside the Trial Balance
Before coming to the question, can Closing Stock appears in Trial Balance and if yes, on which side of Trial…
Difference between Book-Keeping, Accounting and Accountancy
The word “Accounts” is used in general to represent the terms Book – Keeping”, Accounting and accountancy. So the very…
Is Bank Reconciliation statement relevant in the Era of Internet Banking?
Before we understand the relevance of Bank Reconciliation Statement in the Era of Internet Banking, we need to understand what…