Books of account and financial statement are the main sources of financial transaction. This note provides you with the introduction, meaning and definition of book keeping and accounting.
Accounting is concerned with the recording, classifying and summarizing the financial transactions to know the profitability and financial positions of a business. This note provides with the knowledge of basic accounting concepts or principles.
Different types of recording system were used for recording the financial transactions at that period. This note provides you with the introduction, classification, features, advantages and disadvantages of accounting system.
There are various terms used in accounting such as capital, cash, bank, cheque, debtors, creditors etc. This note has information about various terms of accounting.
Double Entry system refers to such accounting system under which every financial transction is recorded into two separate account with equal amount to determine the true profit or loss and financial position of the business. This note provides the introduction, objectives, advantages and disadvantages of double entry system