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. .
In above video, you will learn to treat accounting errors. You can study related text at here and here . .
Manager can get commission on net profit before charging such commission or after charging such commission. Before charging such commission way is simple because you can easily calculate commission on the net profit before deducting such commission. In after charging such commission, we have to .
PGBD means provision for bad debt. Its adjustment means to adjust its amount in profit and loss account and balance sheet. Actually, we first make the provision for bad debt account. On this account basis, we calculate the amount which goes to profit and loss account and which goes to balance sheet. .
We get knowledge both accounting and economics. One debate always goes on, "which is better accounting or economics?" Which field should students choose? A student can become accountant or chartered accountant after getting the degree of accounting or CA or CPA. Read this content complete at here. .