Balancing of Account The balancing of the account is the process of balancing the debit and the credit side of the account at a given time. That is if the sum of the debit and the credit side of an account is unbalanced, the difference between the small amounts excluding the larger …
What is Accounting Records? Accounting records are the records of the financial transactions and the current financial position of the firm. Accounting records are required for tax purposes, legitimate transparency, …
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Here we will learn What is Accrual Basis Accounting? What is Cash Basis Accounting? Difference between Accrual Basis and Cash basis Accounting. The basis for recording the transaction Due to …
What is Account? Definition or Meaning of Account. Everyone wants to know the financial condition and the financial results of the organization at a certain time. In order to know …
