Tag: Accounting

Cash Basis of Accounting Cash Basis of Accounting uses receipts and payments of cash to record incomes and expenses. Therefore, Read more…

The Problem with Debit Credit Rules The system of debit and credit is right at the foundation of double entry Read more…

Debits and credits are the building blocks of the double entry accounting system. Many accounting students find the usage of Read more…

The entity concept separates the concerns of the owners from the business. An extension of the same concept is the Read more…

The entity concept is one of the central tenets of accounting. An understanding of the same is therefore of paramount Read more…

Financial reporting is used by a wide variety of users for a wide variety of purposes. For this reason it Read more…

Although accounting may be heralded as being the language of the business, it is definitely not error free. This has Read more…

Every activity that a business firm does must be done for a reason and accounting is no exception. Accounting helps Read more…

One can never really understand a subject, unless they know where it came from. Therefore, a short history of the Read more…

Accounting has been hailed by many as the “language of business”. There are many quotations like “A pen is mightier Read more…