Accounting Articles
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Accounting Cycle

Accounting cycle refer to the process through which the business transaction is passed. Generally, the business transactions...

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Differences between IFRS & GAAP

We live in a progressively worldwide economic climate, so it is important for local business owners and accountancy profession...

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General Journal

Journal is the first book of accounting in which business transactions are recorded at first. However, General Journal refer to...

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Depreciation

Depreciation means the fall in value of tangible non-current assets due to its use. Depreciation is important concept in businesses...

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Journal Entry, its Merits & Limitations

Journal is the first source where the business transactions are recorded in the chronological order. However, it has some limitations and...

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Subsidiary Books

Small businesses mostly uses only Journal to record business transactions but in large businesses different books are used...

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Statement of Financial Position

Statement of financial position also called "Balance Sheet" which shows the position of business on specific date...

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