What is Cash Flow Statement

What is Cash Flow Statement In this Free Online Accounting Training Class on Cash Flow Statement you will learn: What is Cash Flow Statement or Statement of Cash Flows What is meant by Funds Flow Statement Formation of Cash Flow Statement Sample Cash Flow Statement Activities of Cash Flow Statement Preparation of Cash Flow Statement Cash flow … Read more

Activity Based Costing

Activity Based Costing Activity Based Costing (ABC) is the division of total production process into activities and then assigning the costs on those products based on the rate of production use of these activities into making the product. Among the top companies that have been using the ABC analysis includes the American Express, Dell and … Read more

Adjusting entries for Accruals

Adjusting Entries for Accruals After Adjusting Entries for Deferrals now we will discuss on adjusting entry is accruals. Accruals means revenue is earned and an expense is incurred but they are not still recorded or collected. Adjusting entry of accruals makes accruals be recorded within proper accounting period. Accruals are two types: accrued revenues and accrued expenses … Read more

Accounting Standards – Ultimate Guide

Accounting Standards – Ultimate Guide Accounting standards are accounting policies issued by expert institutions or government to bring harmonization in follow up of accounting practices. Establishment of accounting standards Accounting records traces a thousand years ago. However, there have been little efforts to develop the standards in the US prior to 1930s. One of the … Read more

What is Managerial or Management Accounting

  What is Managerial or Management Accounting Managerial or Management Accounting information is basically planned to meet the specific needs of a company’s management. Managerial accounting provides the information for fulfilling the objective of management. The information which is provided by the managerial accounting for the management is as follows: Historical Data: it provides objective measures from past … Read more

Accrual and Cash Basis Accounting

Accrual and Cash Basis Accounting   There are 2 ways to accounting-Accrual basis & cash basis accounting. Accrual & Cash are two primary methods of recognizing expense and revenues in accounting. This free online accounting tutorial will help you to understand: Meaning & Definition of Accrual Basis Accounting Meaning & Definition of Cash Basis Accounting Difference between … Read more

Principles of Accounting

Principles of Accounting Today in this Accounting Tutorial you will know: Principles of Accounting Revenue Recognition Principle of Accounting Matching Principle of Accounting Cost Principle of Accounting Full Disclosure Principle Basic accounting rules and guidelines are known as Accounting Principles. There are mainly 4 Accounting Principles: Revenue Recognition Principle: Revenue recognition principle emphasizes that any company … Read more