Dishonour Of A Cheque | Meaning, Reasons, Remarks
The bank should pay the amount mentioned on the cheque as soon as it is presented. If the amount of a cheque is paid by the …
Provision | Meaning, Objective
A provision is the sum of amount set aside by charging against the profit ans loss account. It is created for meeting a known loss …
What is Secret Reserve? Meaning, Objective, Advantages, Disadvantages
Meaning Of Secret Reserve A reserve created with a view to strengthening the financial position of a business without explicitly showing its books of account …
What is statement of expenditure
The new government accounting system requires an operating level office to regularly report on expenditure to the concerned central level office. For this purpose, a …
Bank Cash Book | Meaning, Objectives
Cash is the liquid form of asset, and thus it must be carefully managed, as there is always a change of its misappropriation. It is, …
Petty Cash Book and It’s Concept
The new government accounting system emphasizes that government transactions have to take place only through banks. In other words, all receipts and payments have to …
Reserve and It’s Concept
A business has to face several known and unknown contingencies and losses. There may be, for example, a decline in profits or occurring of losses, …
Single Entry System and It’s Meaning
Concept Of Single Entry System There are different forms of business concerns. Some of these concerns are small traditionally run and legally not required to …
Non-Trading Concerns and It’s accounts
Concept of Non-Trading Concerns There are many concerns that have the main motto of rendering services instead of making profits. Such concerns are call non-trading …
Provision and It’s Objectives
A provision is the sum of the amount set aside by charging against the profit and loss account. It is created for meeting a known …