Study Material

Accounts from incomplete records are one form of maintaining accounts wherein not all the transactions are recorded systematically. This is…

The accounting equation shows the relationship between resources in a business, which is also known as assets, and its obligations…

Accrued income is that which has been earned but not received or recorded by the end of the accounting period.…

Accrued expenses are costs incurred by a firm but not yet paid for or accounted for in the records of…

The accrual basis of accounting is an important part of the recognition aspect of accounting, whereby every transaction is accounted…