Financial statements of an entity are prepared at regular intervals in accordance with which accounting concept?

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Accounting period concept.
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Kiruthiga
What is the difference between Bad debts and bad & doubtful debts. What are the legal compliances for the provisions for doubtful debts and bad debts recovered after being written off.
Both are pretty much same.. Bad debts amount to be transferred to P/L a/c (dr side) Baddebts recovered P/L credit side as income Provision on doubtful debts to be deducted from debtors in balance sheet..
Suneha Sharma
1 0
7
Why are rules of debit and credit same for liability and capital?
According to the accounting entity concept, business is seperated from its owner.So the investment made by the owner (ie capital) is the fund that is to be repaid to the owner itself, at the very last...
Sanjay
0 0
5
difference b/w cash & cash eqivalant..
Cash is basically the money that is available with us in liquid form.And cash eqivalent are those items which can be converted into liquid form as and when required like fixed deposit ,they can be converted...
Madhav
What is the difference between amalgamation and absorption?
Amalgamation is the process of two or more companies joining together to form a new one. Think of Maruti India and Suzuki Japan amalgamating to form Maruti Suzuki. Absorption is when one company acquires...
Akash
0 0
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