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1. Debit the Receiver, Credit the Giver. Ex. When a person gives something to other any person or organisations, it becomes an... -
Meaning of Cost Accounting: As the term itself suggests that cost accounting deals with cost. Cost is the amount of resources given... -
Accounting Journal Entries Definition An accounting journal entry is the method used to enter an accounting transaction into the acc... -
The Balance Sheet A balance sheet lays out the ending balances in a company's asset, liability, and equity accounts as of the date ... -
CASH CONVERSION CYCLE The cash conversion cycle measures the time period required to convert resources into cash. The intent behin... -
What is the purpose of accounting? The purpose of accounting is to accumulate and report on financial information about the perfo... -
BANK RECONCILIATION STATEMENT (BRS) A bank reconciliation is the process of matching the balances in an entity's accounting reco... -
The Chart of Accounts The chart of accounts is a listing of all accounts used in the general ledger of an organization. The chart is u... -
Understanding Accounting Basics (ALOE and Balance Sheets) In accounting, the math usually isn't worse than multiplication. But ac... -
TAX A charge or a sum of money levied on personor property for the benefit of state. It is a payment to Government. It is a kind or...
