CASH FLOW STATEMENT Marks: 8 (Eight) As prescribed by the Accounting standard-3 (AS-3), there are two methods which can be used to prepare cash flow statements: Indirect method Direct method...
Accounting is the art of recording, classifying, summarising in a significant manner regarding money, transaction & events which are at least in part financial interpreting the result thereof. (AICPA...
According to the Cost Concept, an asset is recorded in the books of account at the price paid to acquire it and the cost is the basis for all subsequent accounting of the asset. Since the acquisition...
Let’s start with an example to understand this concept. Here it is: Suppose I buy 10 Books for Rs 1,000. This means that 1 Book costed me. Now, if I sell 5 Books at Rs...
Tips for scoring good marks in accounts:1. Always be attentive during the sessions2. Raise your doubts to clarify it immediately ao that it does not become your permanent doubt.3. Practice hard because...