Revenue recognition principle states that one should record revenue when it has been earned and not when the payment is collected. Also read:... View Article
The criteria for revenue recognition is as follows: Risk and rewards of the ownership has been duly transferred to the buyer from the seller.... View Article
For calculating depreciation of the building, following depreciation methods can be used: Straight line Double declining Sum of years digits... View Article
Straight line method is the most simple method of calculating depreciation. Also read: True and False Questions on Depreciation What Is... View Article
Nominal accounts are never balanced in accounting, instead they are closed and their balances are transferred to the Profit and Loss Account or... View Article
The two sides of the T account are debit and credit. Also read: How to Prepare Trial Balance Income and Expenditure Account Based on Trial... View Article
Ledger accounts are balanced at the end of every accounting period. Also read: How to Prepare Trial Balance Income and Expenditure Account... View Article
Rajya Sabha TV programs and discussions are very insightful and informative from a UPSC perspective. In this article, we provide a gist of the... View Article
Rajya Sabha TV programs and discussions are very insightful and informative from a UPSC perspective. In this article, we provide a gist of the... View Article
TABLE OF CONTENTS 1. World Sanskrit Day 2. Malabar Naval Exercise 1. World Sanskrit Day Context: Sanskrit day is observed on every Poornima... View Article
