Depreciation
Depreciation

Depreciation

Depreciation means a fall in the value of an asset because of usage or with efflux of time or due toobsolescence or accident. Every fixed …

Read More →
Capital and Revenue - Receipts and Payments
-Receipts and Payments

Capital and Revenue-Receipts and Payments

A proper distinction between expenditure and expense, income and receipt, capital, and revenue as regard to expenditure, payments, receipts, profits, and losses, is one of …

Read More →
Rectification of Errors
Fundamentals of Accounting

Rectification of Errors

In this chapter of rectification of error, I will discuss the different types of error and method of its rectification under the following heads. 9.01 …

Read More →
Trial Balance
Fundamentals of Accounting

Trial Balance

A Trial Balance is a statement of accounts which appears in the Ledger showing either the balancesor the total amounts of debit and credit items. …

Read More →
Bank Reconciliation Statement
Bank Reconciliation Statement

Bank Reconciliation Statement (BRS)

A Bank Reconciliation Statement is prepared on a particular date to reconcile the bank balance in the Cash Book with the balance as per the …

Read More →
Subsidiary Books
Fundamentals of Accounting

Subsidiary Books

SUBSIDIARY BOOKS book contain Cash Book, Purchases Day Book, Sales Day Book, Purchases Returns Book, Sales Returns Book, Bills Receivable Book, Bills Payable Book and …

Read More →