Accounting Period ...

Accounting Journal Entries Lecture on Journal Entries: This is Part 2 of 2 videos. Please check each of the transactions very carefully. Hopefully this video will be helpful for you. In the second part few more transactions will be uploaded. Practice: Financial Transactions for January 2019 01/01/19 Mr. Z invested...

Accounting Journal Entries Lecture on Journal Entries. This is Part 1 of 2 videos. Please check each of the transactions very carefully. Hopefully this video will be helpful for you. In the second part few more transactions will be uploaded. XYZ Inc. Practice: Financial Transactions for January 2019 01/01/19...

Economic Entity Principle or Business Entity Assumption Recording of financial transactions of business entity should be kept separate from the owner’s personal financial transaction recording. The transaction should not be mixed. Asset, Liabilities, Cash transaction, Bank accounts should be kept separate. This...

Inventories IAS 2 – Inventories       Explain the requirements of how to account for different kind of inventories and which expenses should be recognized. •  It requires to value the inventory at the lower of cost and estimated selling price less selling costs for each separate...

IAS 1 – Presentation of financial statements · Provides formats for the classification and presentation of financial information. · How the financial statement should be structured.                                   ...

Present Value Table  ...

This is part of a series of comprehensive accounting tutorial. This video is designed to help beginners in the field of Business Studies and specifically Accounting. After watching this video, the viewer will have comprehensive understanding of the Accounting Equation, how Assets, Liabilities, and Equity moves to Debit...

Accounting principles Accrual Principle: It is the theory of recording an accounting transaction in the time period in which they occurred. Not in the previous period or next period. Suppose, you may receive the money in the next period or during the previous period as buying and selling occur a whole year in business....

Definition: The going concern assumption is the concept which assumes that, the business entity will be running for long time or foreseeable period. Which companies are gonna end soon or close in the near future are not going concern. ...