Sinking Fund – A Fund To Help You Sink Your Debt
A Sinking fund is like a special purpose saving account. The company deposits the money with the intention to repay a debt or replace… Read Article
Liabilities
Fundamental Accounting Equation
What is the Fundamental Accounting Equation?The fundamental accounting equation seeks to explain the relationship between the assets constituting a business and the funds that… Read Article
Bills Payable
Meaning of Bills PayableBills Payable (B/P) is a liability document that shows the indebtedness of an individual, an organization, etc. When an individual or an… Read Article
Notes Payable
Definition of Notes PayableWhen a company issues promissory notes, it maintains the records of the amount of promissory notes issued in a ledger account.… Read Article
Revaluation of Long-Lived Assets
Revaluation of long-lived assets is an important technique in finance that is used to figure out the true value of the assets owned by… Read Article
Balance Sheet – Definition and Meaning
The balance sheet, also known as the statement of financial position, represents a given company and its financial position at a given date (generally… Read Article
Meaning and Types of Liabilities
Liabilities: DefinitionLiability is a legal obligation of an individual or a business entity towards creditors arising out of some transactions. A clearer definition of… Read Article
Accounting Equation Example – Explanation with different Transaction
The accounting equation is the base of the “Double Entry Book Keeping System.” The definition of accounting equation with the principle of “equality” duly… Read Article