WHAT IS MARKET STRUCTURES ? – Concept of Revenue
In everyday speech, the market refers to a fixed place where people meet to buy and sell. But in relation to Economics, market…
Category: Finance Explained
Principles-Based vs. Rules-Based Accounting
All businesses and organizations, large and small, must generate financial statements or end-of-year expense statements. And they do it by adhering to a…
PRINCIPLES AND PRACTICE OF DOUBLE ENTRY SYSTEM
What is Double-Entry System? Double-entry refers to a system of bookkeeping that, while quite simple to understand, is one of the most important…
Importance and Benefits of Accounting Ethics
In this article, we will be taking a dive into Accounting Ethics. What Accounting Ethics stands for, it’s importance to accounting professionals. We…
WHO IS AN ACCOUNTANT ?- Accounting Technologies of The Future
WHO IS AN ACCOUNTANT? An Accountant is a person who has undergone formal or professional training in the process of accounting and who…
What are the differences between BOOK KEEPING AND ACCOUNTING ? – IMPORTANCE BOOK KEEPING AND ACCOUNTING
Meaning of Book Keeping: Book-keeping from time immemorial has been defined as a science of recording business transactions in a systematic manner so…
What is an Asset and a Liability- Differences and Relationship
On corporate financial statements and balance sheets, assets and liabilities are two of the most important components. Personal assets are those belonging to…
What are the Top 7 Inventory Management System
Inventory management’s goal is to guarantee that there are enough goods on hand to meet demand without overstocking or understocking. Inventory management…
What is a Financial Statements & Major Financial Statement Reports
Financial statements help’s you analyze your company’s financial position and performance. They are made up of four major components, the most important…
What is a Journal – Books of Original Entries
As derived from a French word, journal means daily from its root word Jour which means day. These Journals are called Books of…