This lecture is the part of basic accounting lecture series. This lecture is for dummies in accounting area who do not know the a,b and c of accounting. In this lecture, we will explain the fundamental accounting assumptions. If you want to read its text, you can read at http://www.svtuition.org/2013/10/fundamental-accounting-assumptions.html .
This lecture is the part of basic accounting lecture series. This lecture is for dummies in accounting area who do not know the a,b and c of accounting. In this lecture, we will explain the main types of accounting information. If you want to read its text, you can read at http://www.svtuition.org/2013/10/types-of-accounting-information.html .
(A) Conservation Convention (B) Convention of Disclosure (C) Convention of Materiality (D) Arrear of Book Accounts Correct Answer : (B) Explanation : As per convention of disclosure, accountant should show the correct information in the books of account. Same information .
I have given following video lecture in which I have explained the Accounting of the transaction with examples. I hope you will understand these accounting transaction examples. .
BRS is called bank reconciliation statement. It is made for knowing the reasons of difference between bank statement and our cash book's bank column. First of all we research to find all the transactions which are responsible for this. Then we make this statement by taking cash book balance or bank .
There is big list of off balance sheet assets and liabilities. I have collected it and for understanding it, I have made above off balance sheet video tutorial. I hope, it will be helpful for your learning. .
Balance sheet is the list of all assets and liabilities. This list is also called source and application of money. It is the base of different management and investment analysis. Every investor who wants to invest his money in the company, see the balance sheet first. He will not invest his money .
There is big difference between cash and capital. Cash in the business is the part of capital but it is not necessary all capital will be in cash. Some person may invest his other assets in the business. It will also be the capital of that person. More you can understand from above video. .
Fixed Assets are those assets which are used for production or business purposes. Its benefits are obtained by company in many years after its purchasing. Read its full content at here. .
From this video, you will learn the meaning of account receivables. Account receivable means all amount which we have to get from our debt. We have given the money or goods to our debtor on credit. So, it is our current asset. .