Author: indiafreenotes

The current purchasing power (CPP) method is also known as general price-level accounting. CPP adjusts historical cost based on changes…

The basic objective of Accounting is the preparation of financial statements is a way that they give a true and…

General insurance or non-life insurance policy, including automobile and homeowners policies, provide payments depending on the loss from a particular…

The financial statements of general insurance companies must be in conformity with the regulations of IRDA, Schedule B. It has…

Acceptances, endorsements and other obligations basically represents the bills accepted or endorsed by the bank on behalf of its customers.…

(a) Interest Suspense Method: From the standpoint of conservatism, interest on doubtful loans should be transferred to Interest Suspense Account…

Different types of banks, such as commercial banks, cooperative banks, rural banks, and private sector banks exist in India. The…