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Basics of Accounting_Chapter-1

Rahul Kumar Pugalia

05/08/2019 0 0

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Flow chart for Provisions relating to Interest on Capital/ How to understand how much interest on Capital to take?

You have to undertake 3 step verification for identification of provisions relating to interest on capital: 1. Is Interest on capital a Charge in the question mentioned; YES- Take full amount of Interest...

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Provisions of Indian Partnership Act 1932- In Absence of Partnership deed

1. Interest on Loan taken by Firm should be 6 percent per annum. 2. Interest on Loan given by the Firm should be nil 3. No partner could be admitted in the firm without the consent of the exisiting partners. 4....

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Valuation of Goodwill

This is one of the introductory chapters at the graduation level as well as in professional exams. The brief notes on methods and calculation of goodwill in easy steps are presented below: Methods of...

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Preparation of Final Accounts From Incomplete Records or Single Entry System:

Preparation of Final Accounts From Incomplete Records or Single Entry System: There are two methods for the preparation of final accounts from single entry books/ incomplete records. Method 1: Under...

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Accounting Policies

Definition: Accounting Policies refer to specific accounting principles and applying those principles adopted by the enterprise in the preparation and presentation of Financial Statements. Need for...

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