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, in accounting, refers to revenue earned by a business or individual but not yet received. It's the money…

Accrued expenses are costs a business incurs but hasn't yet paid for, representing a liability until payment is made.  They are…

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