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
If the debits in the trial balance exceed the value of credits then the difference will be recorded in the suspense account as a credit, and if... View Article
Suspense account can be a real, nominal or personal account based on the situation. Also read: Suspense Account Learn about more questions... View Article
The purpose of a suspense account is for temporary recording of those transactions which cannot be identified at the time of recording of... View Article
A suspense account is a general ledger account that is used for the temporary recording of transactions that cannot be identified during... View Article
Amortisation and depletion are two different concepts as amortisation is applicable to intangible assets such as goodwill, patents and trademarks... View Article
Depreciation can be considered as cash inflow because it has an indirect effect on reducing the cash outflow from the business. Also read:... View Article
Amortisation reduces the net taxable income thereby reducing the taxes, thereby it affects the profit by reducing it. Also read: True and... View Article
Yes, amortisation is regarded as an operating expense. Also read: True and False Questions on Depreciation What Is Depreciation MCQs on... View Article
Depletion is accounted for natural resources or mineral assets. These include coal, oil, gold, iron, copper, timber etc. Also read: True and... View Article
The purpose of amortisation is to bring about a systematic reduction in the value of an intangible asset. The intangible assets include goodwill,... View Article
Depletion is applicable to the reduction in the value of natural resources such as oil, timber and minerals. Also read: Difference Between... View Article
Depreciation has an indirect effect on the cash flow of a business as it creates an impact on the company’s tax liabilities as depreciation... View Article
Depletion is used for measuring the systematic reduction in the value of mineral assets or natural resources while depreciation is used for... View Article
Depreciation impacts the cost of fixed assets (tangible assets) Amortisation impacts the cost of intangible assets Depletion impacts the cost... View Article
The difference between amortisation and depletion is that amortisation is applicable in the case of intangible assets while depletion is... View Article
Bank reconciliation helps in identifying any kind of unusual transactions that may have occurred due to fraud or any accounting errors. Also... View Article
The three methods of a bank reconciliation are: Comparing the statements Adjusting the balances Recording the reconciliation Also read:... View Article