Financial Accounting

Debt and Liabilities are two very crucial accounting concepts. Even those who do not have an accounting or finance background use both terms regularly.… Read Article

Paid-in Capital is the money that is received by the company from the public and investors at large for the issuance of its shares.… Read Article

What is Capital expenditure? Capital expenditure is any expenditure that is done for purchasing, developing, or maintaining a fixed asset. Such assets should have… Read Article

What do we mean by Capital Expenditure Accounting? Capital expenditure is the expenditure for buying long-term fixed assets in an organization. The expenditure can… Read Article

Impairment and Depreciation are two very important concepts in accounting. Both concepts apply to assets, especially fixed assets. And both refer to the drop… Read Article

Each one of us knows the definition of Account Receivables. That said account receivables are the monies receivable from the debtors/customers towards the supply… Read Article

GAAP (Generally Accepted Accounting Principles) are a set of rules and guidelines that tell a company how to prepare financial statements. All companies, whether… Read Article

An Onerous Contract is, as the word implies, a contract that becomes a financial burden for the company. As total cost of fulfilling this… Read Article

Assets are very important for businesses, as well as for individuals. The number and quality of assets that one owns go a long way… Read Article

When it comes to preparing an income statement, the businesses have two options. The two options are a single-step income statement or a multi-step… Read Article

As the name indicates, a multi-step income statement shows multiple steps in Income Statement. To understand this concept in a better way, we have… Read Article

Meaning of Physical obsolesces: Obsolesces negatively affect the value of the property. In other words, it reduces the value of the property. Further, obsolesces… Read Article