Asset is any piece of financial significance possessed by a person or company, particularly that which could be converted to currency.Assets are bought to enhance the worth of a firm or promote the firm’s functions. Assets are informed on the balance sheet typically at cost or lower.

Trial Balance Sheet

A trail balance sheet is one of the most important financial documents of the double entry system. Trial balance of a business can be done at any time of the financial period to keep the accounts fair and transparent. Some of the businesses run

Important Bookkeeping Terms

Important Bookkeeping Terms: Before attempting to learn the art or science of bookkeeping it will be better to clarify some of the terms that will have to be used again and again. Transaction: Any dealing between two persons or things in a transaction. It

Accounting Equation

Accounting Equation Learning Objective: Define and explain accounting equation. Give an example of accounting equation. Definition and Explanation of Accounting Equation: Dual aspect may be stated as “for every debit, there is a credit.” Every transaction should have twofold effect to the extent of