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Financial Accounting

Income Statement

There are four Financial Statements which are prepared during an accounting year. In this article, we will focus our attention on the Income Statement. We will learn what the …

Accounting Cycle

What is the Accounting Cycle? The person maintaining the accounting cycle defines it as a systematic process of recognizing, analyzing and posting the various events related to accounting in …

Double Declining Depreciation

Double declining depreciation method is an accelerated depreciation method where the depreciation expense decreases with the age of the asset. Depreciation charge under the double declining depreciation method is …