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...