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Category Archives: Financial Accounting

This category includes useful post related to financial accounting,


 GAAP and Accounting Concepts : Generally Accepted Accounting Principles (GAAP) are the set of rules accepted by accounting bodies and finance professionals in order to provide uniformity in the accounting practices and presentation of accounting results all over the world, Read more…


 What is a Journal and Journal Entries in Accounting?? Journal is the first book in which transactions of business enterprises are recorded. After identification of transaction and source document, We record transaction in journal known as an Entries or Journal Read more…


             Accounting Cycle in Accounting System  Accounting Cycle in accounting system can be shown as follows –  a) Identification of Transaction This is the first requirement in accounting cycle or processes. Financial transactions are required to be identified for further Read more…


Introduction to Basic Accounting: Basic accounting is easy to understand. We do monetary transactions in our day to day life like earning, spending and saving money. We do many financial transactions everyday. Many of us note it down in plain Read more…