Accounting For Consignment / Consignment Accounts Rules Learning Objectives: Define and explain the terms consignment, consignor and consignee. What is the difference between consignment and sale? Make journal entries in the books of consignor and that of consignee. Prepare consignment account and consignee’s account
Accounting rule is an official instruction that will describe how something presented and treated in accounts.Accounting rule is a practice or predictable process that is commonly adopted by the compilers and financial statements are prepared.