Study Material

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…

Accounting for partnership firms is significant as this is a type of business firm where financial transactions are recorded due…