Ledger Account and It’s Importance
LEDGER ACCOUNT To help reveal the financial position: The ledger also contains the accounts of the financial transactions relating to capital, all liabilities, and assets …
Subsidiary Books and It’s importance
CONCEPT OF SUBSIDIARY BOOKS A big business needs to perform a large volume of financial transactions As a result, the title of a single journal …
PRINCIPLES OF ACCOUNTING
MEANING AND DEFINITIONS OF ACCOUNTING The meaning of accounting is broader than that of bookkeeping. Accounting includes not only book-keeping but also other activities. In …
Book Keeping in Accounting
MEANING AND DEFINITIONS OF BOOK-KEEPING Book-keeping is the act of keeping written records of the financial transactions of a business. An owner or an accountant …
Cash Transaction and It’s Meaning
CONCEPT OF CASH TRANSACTIONS All financial transactions are ultimately settled in cash Some transactions are settled Imminently after purchase and sale and the rest are …