After reading this article you will learn about the accounting concepts and principles. Also learn about fundamental accounting assumptions. Core Accounting Concepts: Two core accounting principles are entity and money measurement Entity means a economic unit that performs economic activities. It may be a business entity - any form of business i.e. sole proprietorship, partnership, company, co-operatives and non-business organisations. [...]
This article throws light upon the six main concepts of government deficits. The concepts are: 1. Budgetary Deficit (BD) 2. Monetized Fiscal Deficit (MFD) 3. Gross Fiscal Deficit (GFD) 4. Net Fiscal Deficit (NFD) 5. Gross Primary Deficit (GPD) 6. Net Primary Deficit (NPD). Government Deficit: Concept # 1. Budgetary Deficit: In India, the budget deficit is measured as the [...]
In this article we will discuss about Comprehensive Income:- 1. Concept of Comprehensive Income 2. Components of Comprehensive Income 3. Advantages. Concept of Comprehensive Income: Comprehensive income, also known as all-inclusive concept of income, is the change in equity (net assets) of an entity during a period from transactions and other events and circumstances from non-owner sources. It includes all [...]