What is Single Entry System?
A single Entry System is a method of keeping records of financial transactions, which is rarely prevalent these days. In this system, only one side… Read More »What is Single Entry System?
Business Accounts
What is RTGS? (Real-Time Gross Settlement)
RTGS is a short form for Real-Time Gross Settlement. It is a facility provided by the banks, that allows instant and complete settlement of funds… Read More »What is RTGS? (Real-Time Gross Settlement)
What is Business Forecasting?
Business forecasting is the process of estimating future economic conditions based on past and present information. It refers to the technique of taking a prospective… Read More »What is Business Forecasting?
What is Forecasting?
Forecasting is an important tool for making informed business decisions. Regardless of the size and profile of a company, It helps the organization’s management anticipate… Read More »What is Forecasting?
What is Regression?
Regression analysis is a set of statistical methods used for the estimation of relationships between a dependent variable and one or more independent variables. It… Read More »What is Regression?
Different Types of Assets
Types of Assets Assets are classified based on their convertibility into cash, They are classified as current or fixed assets. An alternative expression of this… Read More »Different Types of Assets
Accounting Conventions
Accounting conventions are guidelines used to help companies determine how to record certain business transactions that have not yet been fully addressed by accounting standards.… Read More »Accounting Conventions
Accounting Concepts
The accounting concepts refer to the basic assumptions and rules and principles which work as the basis of recording business transactions and preparing accounts. This… Read More »Accounting Concepts
What are Financial Statements?
Financial statements are the statements that provide the financial performance of an organization at the end of a financial year. It represents a formal record… Read More »What are Financial Statements?
What are Liabilities?
Liabilities are recorded on the right-hand side of the balance sheet, which includes different types of loans, creditors, lenders, and suppliers. They can be of… Read More »What are Liabilities?