Tag Archives | Financial Accounting

Accounting Standards: Introduction, Procedure, Compliance and Scope | Financial Accounting

In this article we will discuss about:- 1. Introduction to Accounting Standards 2. Indian Accounting Standards 3. Auditors 4. Procedure 5. Compliance 6. Scope 7. Applicability. Contents: Introduction to Accounting Standards Indian Accounting Standards Accounting Standards and Auditors Procedure for Issuing Accounting Standards Compliance with Accounting Standards Scope of Accounting Standards Accounting Standards and their Applicability 1. Introduction to Accounting [...]

By |2018-08-01T10:47:23+00:00August 1, 2018|Accounting Standards|Comments Off on Accounting Standards: Introduction, Procedure, Compliance and Scope | Financial Accounting
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Preparation of Final accounts with Adjustments | Financial Accounting

Preparation of Final accounts with Adjustments! The reporting information will not be accurate unless we take into consideration the adjustment entries. The treatment of various common adjustments such as closing stock, outstanding expenses, accrued incomes, prepaid expenses, incomes received in advance, bad debts, reserve for bad and doubtful debts, reserve for discount on debtors, reserve for discount on creditors, interest [...]

By |2018-08-01T10:47:23+00:00August 1, 2018|Final Accounts|Comments Off on Preparation of Final accounts with Adjustments | Financial Accounting
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How to Prepare Income Statement of Manufacturing Business? | Financial Accounting

It is necessary to learn how to prepare income statement for manufacturing business. In a manufacturing business enterprise, there is a need to prepare a manufacturing account, statement of production or a cost sheet, before proceeding ahead to prepare the income statement. In fact, the income statement literally remains the same except that the cost of goods manufactured is transferred [...]

By |2018-08-01T10:47:23+00:00August 1, 2018|Income Statement|Comments Off on How to Prepare Income Statement of Manufacturing Business? | Financial Accounting
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