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
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 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
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
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
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
Debt and Liabilities are two very crucial accounting concepts—even those who do not have an accounting or finance background use both terms regularly. In… Read Article
When it comes to preparing an income statement, the businesses have two options. The two options are a single-step income statement or a multi-step… Read Article
As the name indicates, a multi-step income statement shows multiple steps in Income Statement. To understand this concept in a better way, we have… Read Article
Calendarization refers to the accounting process of standardizing the full financial statements of two or more different companies. This process aims to facilitate the… Read Article