Accounting Cycle refers to the systematic process of recording and processing all financial transactions of a company, from the initial transaction to the final preparation of financial statements. It consists of eight key steps: identifying and analyzing transactions, recording them in the journal, posting to the ledger, preparing a trial…
Account Carried Down Balance carried down represents the monetary balance of a real or personal ledger account that carried forward to the subsequent accounting period. In other words, this is the closing balance of the ledger account. Once balance brought down and all debit and credit entries for the accounting…
Unit 1 Introduction to Accounting {Book} Accounting Meaning VIEW Book keeping & Accounting VIEW Need for accounting VIEW *Accounting Scope VIEW *Accounting Functions VIEW (GAAP) Generally Accepted Accounting Principles VIEW Accounting Concepts and Conventions VIEW VIEW List of Indian Accounting Standards VIEW Ind AS-IFRS (Concept only) VIEW Unit 2…
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