List/Grid Tag Archives: Accounting
Double Entry System in Accounting
A double entry system of accounting was devised with the concept that each transaction has dual effect. Two effects of each transaction are recorded on the basis of universally accepted…
Cash and Accrual Basis of Accounting
Cash basis of Accounting In cash basis of accounting the prevailing concept is that transactions will be entertained on the actual receipt or payment of cash. More broadly income will…
What is Cost Accounting
Cost accounting is a subject dealing with the appraisal of overall costs in producing and selling the goods or rendering services by an organization. Normally it is based on standard…
The Accounting Cycle
Accounting cycle is a sequence of accounting procedures which are used to record, classify and summarize accounting information. The accounting cycle begins with the initial recording of business transactions and…
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