Bargain Purchase Option in Lease: Meaning, How it Works
Imagine a scenario where a company needs a piece of machinery, equipment, or even office space for its operations. Instead of purchasing it outright,… Read Article
Financial Accounting
A Comparative Analysis: Fund Flow Statement vs Balance Sheet
The fund flow statement and the balance sheet are two important financial statements that provide valuable insights into the financial health and performance of… Read Article
Top 10 Essential Accounting Functions
Accounting is like keeping track of money for businesses. It is important for all types of companies, no matter how big or small they… Read Article
How does an Accounting Information System Affect the Financial Health of a Firm?
Accounting Information System or AIS assists companies to gather, save, analyze, and report financial and accounting data that is of use to internal management,… Read Article
Difference between Income Statement and Statement of Comprehensive Income
The statement of income and the statement of comprehensive income are both part of financial statements used to report the company’s performance and financial… Read Article
What Items are Included in Cash & Cash Equivalents?
Cash and cash equivalents are the liquid assets in any business. The purpose of keeping cash and cash equivalents is to meet daily expenses,… Read Article
Role of a Fund Accountant – Skills & Qualification
Who is a Fund Accountant?
A fund accountant is a skilled and organized person who can prepare and maintain accounts related to a specific… Read Article
Capital Work in Progress (CWIP)
What is Capital Work in Progress?
Capital work-in-progress or CWIP is one of the most important components of the non-current assets of an entity.… Read Article
Permanent Account – Meaning, Feature, Types, and Example
Permanent Account: DefinitionA permanent account is a general ledger account that isn’t closed after the end of a financial year. Instead, an accountant carries… Read Article
Temporary Account – Meaning, Types, Importance
Temporary Account: DefinitionTemporary Account, as the name suggests, is an account that exists to record the transactions of one accounting period only. Such an… Read Article
Accounting Worksheet – Meaning, Objectives, Benefits, and Format
What is Accounting Worksheet?Accounting Worksheet is basically a spreadsheet tool that assists bookkeepers and accountants in completing the accounting cycle. Or, we can say… Read Article