Accounting

Cash and bank transactions take place almost daily in any business entity. In fact, these transactions also take place at high volumes. Correct accounting for these transactions is important as it reflects the company’s...

Commercial entities operating for profit incur various expenses during the course of their operations. These may be in the nature of purchase of goods or consumption of a variety of services. In commercial arrangements, there is...

Various types of books of accounts are prepared to record financial transactions of an enterprise. These books begin with the journal where entries are recorded and generally culminate with preparation of trial balance from...

In commercial transactions, it is often seen that sales and delivery of goods takes place on a certain date whereas payment for the same may take place at a subsequent date. This is because the seller often extends a credit...