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Using a business owner perspective; why would you need a proper bookkeeping? You, most likely, are not a business owner. But, unless you use a business...
At the end of every accounting period certain accounts are closed and others remain open. This post is softly trying to remind you with some essential...
The trial balance is quite simple to understand and quite simple to do. How if I find error during the construction? What should I do? Easy,...
Asset disposal accounts are like miniature profit & loss accounts: they are final accounts, and not going on any further. Once written up, with their one...
Through this post, you can learn what accounting mainly responsible for and get the sense of where accounting likely involves in most of your life, as...
Closing of the accounting books refers to a process that starts with posting entries to the general ledger and results in a post-closing trial balance. The...
On the previous post, you have probably learnt how chart of accounts is constructed with its digitization numbering system. This post describes terms and definitions used...
Accounting records are kept on the accrual basis, except in the case of very small businesses. To accrue means to collect or accumulate. This means that...