Assets and Liabilities are the main head of Accounting. Assets and Liabilities Assets : Are economic resources that are owned by a business and are expected to benefit future operations. In most cases, the benefit to future operations comes in the form of positive future cash flows. The positive future cash flows may come directly as the […]
What is Accounting Information System
Accounting information system is also called AIS. Accounting information system collect and process transaction data and communicate the financial information to interested parties. There are many types of systems and they vary widely. A number of factors shape these systems such as the type of business, the size of […]
Depreciation Methods with Examples
Depreciation Methods : Depreciation method is use to calculate depreciation of assets.In this article, i will show you that how we calculate depreciation by using different methods, the following methods are use to calculate deprecation. These depreciation methods with examples are as follow. Straight line or fixed installment method. Units […]
What is Depreciation
What is Depreciation Depreciation is a gradual decrease in the value of an asset. Explanation: We know that when any asset is used its value decreases. This decrease in the value of asset is called its depreciation. When we purchase any asset we actually pay in advance for the services of that asset for […]
Final Accounts of Company
Final Accounts of Company Final Accounts of company includes the Trading, Profit Loss and Balance Sheet. This practical example of Final Accounts of company will show you that how we prepare the final accounts i.e. Trading, profit and loss account and Balance sheet of Business. By Considering this example you will understand the basic theme […]