Accounting cycle refer to the process through which the business transaction is passed. Generally, the business transactions...
We live in a progressively worldwide economic climate, so it is important for local business owners and accountancy profession...
Journal is the first book of accounting in which business transactions are recorded at first. However, General Journal refer to...
Depreciation means the fall in value of tangible non-current assets due to its use. Depreciation is important concept in businesses...
Journal is the first source where the business transactions are recorded in the chronological order. However, it has some limitations and...
Small businesses mostly uses only Journal to record business transactions but in large businesses different books are used...
Statement of financial position also called "Balance Sheet" which shows the position of business on specific date...