eFinanceManagement

Fundamentals of Accounting: Meaning, Principles, Categories, and Statements

Fundamentals of AccountingAccounting is the procedure of data entry, recording, summarizing, analyzing, and then reporting the data related to financial transactions of businesses and… Read Article

Accrual vs Deferral – Meaning and Differences

Businesses require the allocation of both incomes and expenses to the same accounting period. However, there are often instances when the expenses and revenues… Read Article

US GAAP – Meaning, History, Importance And More

Generally Accepted Accounting Principles or GAAP is also known as US GAAP as it is in use in the US. These are the set… Read Article

All 10 GAAP Principles – Meaning, Importance And More

Generally Accepted Accounting Principles or GAAP are the set of accounting principles, concepts, and guidelines that guide the more detailed and comprehensive accounting rules,… Read Article

GAAP Accounting – All You Need To Know

Generally Accepted Accounting Principles or more widely known as GAAP, is the set of accounting standards. Organizations use the GAAP principle to record and… Read Article

Matching Principle – Meaning, Importance And More

The matching principle is a common accounting concept or accounting principle. Under this, a company should report an expense in the income statement in… Read Article

Materiality

Materiality is a concept in accounting that states that a firm can ignore small information that does not significantly impact the business. This also… Read Article

Revenue Recognition Principle

The revenue recognition principle states that a firm should record revenue in its books of accounts when it is earned, realized, or realizable, and… Read Article

Accounting Principles

What are Accounting Principles?Accounting Principles are the rules and benchmarks in the accounting field a company should follow while reporting the financial statements. The common… Read Article

Cash Basis Accounting

What is Cash Basis Accounting?Cash basis accounting is an accounting method in which records of the revenues are on its actual receipt and of… Read Article

Difference between Cash and Accrual Accounting

What are the differences between Cash and Accrual Accounting?Cash and accrual accounting are the two methods of accounting used by businesses to record transactions… Read Article

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