Comparative Financial Statements – Meaning, Importance, and Example
Comparative Financial Statements, as the word suggests, are the statements that show the financial numbers of more than one year (consecutive periods) of an… Read Article
Financial Accounting
Presentation of Financial Statements
Every entity needs to prepare and present its financial statements for the accounting year adopted by it. Presentation of financial statements means how an… Read Article
Changes in Accounting Policies – Reason, Disclosure, Exemption and Example
Changes in Accounting PoliciesEvery organization needs to follow the accounting rules and frame its own accounting policies. These policies are nothing but a well-thought-out… Read Article
Financial Reporting Framework – Meaning, Objectives, and Criteria
What do you Mean by Financial Reporting Framework?Financial Reporting Framework, as the word implies, provides a framework for financial reporting. This framework basically includes… Read Article
Accounting Policies – Meaning, Uses, Types, and Importance
What are Accounting Policies?Accounting Policies are internal rules, standards, and procedures that a company’s management lays down to guide them in the preparation of… Read Article
Tax Accounting – Meaning, Pros, Components, and More
Tax Accounting is a branch of accounting. As the name suggests, it helps a firm not to prepare its financial statements but to prepare… Read Article
Fund Accounting – Meaning, How it Works, Benefits, and More
Fund Accounting is an accounting system that focuses more on accountability than profits. Generally, non-profits and government organizations use this type of accounting. Therefore,… Read Article
Fiduciary Accounting – Meaning, How it Works, and More
A fiduciary is a position for a trust or any other organization. The biggest responsibility of the person in this position is to maintain… Read Article
Forensic Accounting – Meaning, Applications and More
Forensic Accounting is the use of accounting and financial skills to find out whether or not there is any accounting fraud. Every company needs… Read Article
What is the Best Definition of Profit?
Profits are an integral part of every business. As an entrepreneur, the primary goal is to make the business profitable. Profits are important to… Read Article
Accounting for Equipment Lease – Meaning, Treatment, and Example
An equipment Lease is a contract where an owner of the equipment allows another company or party to use that asset for a set… Read Article