Management Accounting

Definition, Explanation and Characteristics of “Depreciation” or “Accounting Depreciation

Definition, Explanation and Characteristics of “Depreciation” or “Accounting Depreciation”: Learning Objectives: Define and explain the terms “depreciation” or “accounting depreciation”. The value of assets gradually reduces on account of use. Such reduction in value is known as depreciation. Different authors have given different definitions

Bills Payable Book

Bills Payable Book: Learning Objectives: Define and explain bills payable book. Prepare a bills payable book and post into ledger. Definition and Explanation: Bills payable book is used to record bill accepted by us. When a bill drawn by our creditor is accepted particulars

Accounting Cycle

Accounting Cycle Learning Objective: Define and explain accounting cycle. Accounting cycle refers to a complete sequence of accounting procedures which are required to be repeated in same order during each accounting period. Accounting cycle includes: Recording: First, all transactions should be recorded in the

Accounting Conventions

Accounting Conventions Learning Objectives: What are accounting conventions? Explain important accounting conventions. The term “conventions” includes those customs or traditions which guide the accountants while preparing the accounting statements. The following are the important accounting conventions. Convention of Disclosure Convention of Materiality Convention of
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