Class 11 Accounts

Basic Concepts of Accounting

Basic Concepts of Accounting Basic concepts of accounting are the fundamental ideas & basic assumptions which refers to the theoretical and practical practice of financial accounting and rules for all accounting activities developed by the accounting professionals. Below mentioned is the list of all accounting concepts. Business entity concept Money Measurement concept Going Concern Concept …

Basic Concepts of Accounting Read More »

Terms of Accounting

Basic Terms of Accounting Accounting describes and analyzes bulk data of a business through recording, measurement and summarizing to prepare detailed reports and statements which help the management to know the actual financial position of a business. In accounting there are a plenty of technical terms used. It is important to know the meaning of …

Terms of Accounting Read More »

Branches and Objectives of Accounting

Branches of Accounting Various branches of accounting exist according to the economical development and technological advancements. Information needed by the internal users (Management and directors) and external users (Shareholders, creditors etc.). These accounting branches help to form reports and information in a different manner for different user. The three main branches of the Accounting are: …

Branches and Objectives of Accounting Read More »

Introduction to Accounting

Introduction to accounting Over the decades accounting is known for the financial record keeping function of an accountant. But in this era as the business environment is rapidly changing, accountant needs to reassess their roles and functions within the society and in the organization. Accountants are now giving relevant information for decision making as a …

Introduction to Accounting Read More »