Accounting is a process of identifying, measuring and communicating economic information to permit informed judgments and decision by the users of accounts.
Reconciliation is an activity which ensures that the two sets of accounting record/balances are matching. It is an act ofRead more.
On a regular interval business/individual needs to do bank reconciliation of their cash book and bank statement as a controlRead more.
Deferred Revenue Expenditure
Deferred Revenue Expenditure is an expense which is actually revenue in nature and its benefit results in more than oneRead more.
In the accounting terminology when the word Liability is used then its only shows that the business owes something andRead more.
Sundry creditors are also known as trade creditors. They are the supplier of the business and hold Liability by us.Read more.
Refer Sundry CreditorsRead more.
Contingent Liability is the liability which may arise depending on the future event/s.Read more.
Contingent assets are those possible assets whose existence depends on unpredictable future events which may or may not occur andRead more.