Tag: B/KEEPING

Elements of Auditing Meaning of Auditing Define auditing Auditing refers to a systematic and independent examination of books, accounts, documents and vouchers of an organization to ascertain how far...

Departmental Accounts The Trading Account for a Departmental Store Draw up the trading account for a departmental store Introduction: Departmental Accounts are accounts relating to the several departments or...

The Basic Characteristics of a Partnership Describe the basic characteristics of a partnership Definition: The proprietorship form of ownership suffers from certain limitations such as limited resources,...

The Account in the Consignors and Consignee’s Books Show the account in the consignors and consignee’s books Consignment Overview Consignment occurs when goods are sent by their owner...

The Meaning of Joint Venture Define a joint venture An association of two or more individuals or companies engaged in a solitary business enterprise for profit without actual...

The Meaning of Joint Venture Define a joint venture An association of two or more individuals or companies engaged in a solitary business enterprise for profit without actual...

Meaning of a Bill of Exchange Define a bill of exchange Bill of exchange is written order letter in which there is not any condition. Writer’s sign...

Meaning of a Budget Define a budget : A budget is a set of interlinked plans that quantitatively describe an entity’s projected future operations. A budget is...

Accounting of Non-Profit Making Organizations Preparation of Statement of Affairs Prepare statements of affairs Certainly, proper accounting is essential for non-trading institutions. These concerns maintain, generally, a cash book...

Statements Showing Profit or Loss From Incomplete Records Draw up statements to show profit or loss from incomplete records Some times, businesses, especially small businesses...