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What is Accounting Period?

Accounting period refers to the time period for which accounting books are balanced and preparation of financial statements is done by business entities to evaluate their financial performance or …

Owner’s Equity

In simple terms, the definition of owner’s equity can be stated as “A part of the total value of a company’s assets which is claimable by the owners (in …

What is Accounting?

Accounting can be defined as the process of maintaining financial records and estimates and using the information to take critical financial decisions. In simple words, accounting is an art …