Using computers in the place of manual labour eliminates the need to spend a lot of time on accounting or to employ many people to handle accounting procedures. For instance, due to the development of...
According to the Cost Concept, an asset is recorded in the books of account at the price paid to acquire it and the cost is the basis for all subsequent accounting of the asset. Since the acquisition...
History of Accounting : Before knowing the history of accounting, let us know about the history of money which is the basis of the accounting process. Money : Item or verifiable record accepted for...
Whenever we start doing business, a number of transactions take place. For example, if we start a business of say, a book store (i.e. we’ll be buying books from wholesalers and publishers, and selling...
Tips for scoring good marks in accounts:1. Always be attentive during the sessions2. Raise your doubts to clarify it immediately ao that it does not become your permanent doubt.3. Practice hard because...