Golden Rules of Accounting

Accounts is all about understanding the Golden rules. From a journal entry the process of accounting starts and for this, it is basic necessary to understand the golden which is a handy formula for you. The rule is as follows: 1.Personal            Debit – The receiver            Credit – The giver 2. Real           Debit – What comes in           …

Some Basic Accounting Terms

One need to grasp the following common expressions always used in business accounting. Transaction: It means an event or a business activity which involves exchange of money or money’s worth between parties. Goods/Services: These are tangible article or commodity in which a business deals. These articles or commodities are either bought and sold or produced and sold. Profit: The excess …

Various branches of Accounting

Financial Accounting It is commonly termed as Accounting. The American Institute of Certified Public Accountants defines Accounting as "an art of recoding, classifying and summarizing in a significant manner and in terms of money, transactions and events which are in part at least of a financial character, and interpreting the results thereof." Cost Accounting According to the Chartered Institute of …

Who use Accounting Information?

Accounting books gives us vital information about the company and in this post you will learn who make use of what information from a accounting book. The users are categorized in two types External and Internal. External users include Investors, Creditors, Customers, Suppliers, Employees, and Government organizations. Whereas Internal users includes Management and Managers of operations. Investor An Investor provide …

Types of Data Analysis

Analysis involves estimating the values of unknown parameters of the population and testing hypothesis for drawing inferences. Types of Analysis a. Qualitative analysis b. Content analysis c. Quantitative analysis d. Descriptive analysis e. Bivariate analysis f. Sequential analysis g. Casual analysis h. Multivariate analysis i. Inferential analysis j. Statistical analysis Qualitative Analysis It is less influenced by theoretical assumption. The …

Observation – Methods Of Primary Data Collection

Observation is one way to collect primary data. It is a purposeful, systematic and selective way of watching and listening to an interaction or phenomenon as it takes place. There are many situations in which observation is the most appropriate method of data collection; for example, when you want to learn about the interaction in a group, study the dietary …