Accounting is the art of recording, classifying, summarising in a significant manner regarding money, transaction & events which are at least in part financial interpreting the result thereof. (AICPA...
According to the Money Measurement Concept, only those transactions and events are recorded in the books of accounts which can be measured in terms of money. Therefore, a transaction which cannot...
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...
I. Journalise the following Transactions – Chapter 4 (Book Examples) Jan 1, 2004 – Saravanan started the business with Rs. 1,00,000. Jan 3, 2004 – Received cash from Balan Rs. 25,000 Feb...
Let’s start with an example to understand this concept. Here it is: Suppose I buy 10 Books for Rs 1,000. This means that 1 Book costed me. Now, if I sell 5 Books at Rs...