Category: Accounting

What is Accounting? What Are Its Types?

Accounting is that which tells how your business records, organizes, and understands its financial information. It is one of the key functions of all businesses. ….

What is Accelerated Depreciation?

Accelerated depreciation is referred to those methods where the asset cost is depreciated at a faster rate than the straight-line method and therefore it leads ….

Expanded Accounting Equation

The Expanded accounting equation plays a similar role in varieties of business like a partnership, sole-proprietorship, a public or private corporation. Each business has different ….

Who is an auditor?

An auditor is a person who is appointed for another firm especially for analyzing the financial statements of the firm according to the rules of ….

What Is a Creditor?

Under accounting terms, Creditors are a source of getting a loan in many ways such as in the form of money, credit card, goods or ….

What is a Debtor?

A debtor is a member of financial accounting that continues the flow of transaction of account payable. He/She runs the turnover of the company’s liabilities ….

What are financial statements?

Financial statements involve the business activities and those activities make three statements – income statements which include expenses and revenue, cash flow statements which include ….