Accounting

Cost Units and Composite Cost Units

The term “Cost Unit” can be defined as a unit of product or service in relation to which costs are ascertained. As an example cost unit for a mobile …

Crossing of Cheques

A cheque is a negotiable financial instrument we use to settle payments. A cheque can be lost, stolen or the signature of payee can be done by someone else …

Ratios

Capital Gearing Ratio Capital gearing ratio is using to analyze the capital structure of a company. …

Basics of Generally Accepted Accounting Principles (GAAP)

Basic objectives Financial reporting should be rich with information that is Useful to provide information to potential investors and creditors and other …

Basic Accounting Concepts

These are the broad basic assumptions under which financial statements are prepared and these principles are used by the entire profession in preparing …

Financial Accounting vs Management Accounting

Financial accounting is concerned with providing financial information about the company’s performance. Management accounting is concerned with generating …

The Story of Capital

This tutorial is going to explain you all about how the balance sheet elements are formed and formula to calculate capital is formed. Story is named is …

Use of Accounting Information by Departments in an Organization

Accounting information helps every department in an organization and use of accounting information can be summarized as follows: Marketing/Sales Department …

Objectives of Financial Accounting Systems

There are many objectives of maintaining a financial accounting system in an organization and they can be explained as follow: Help in Management Decision …

Origin of Costing Methods

There are 04 types of costing methods that can be identified namely Job Costing Batch Costing Contract Costing Process Costing These types of costing methods …