Accounting Blogs

Profit and Loss Account

We came across a lot of companies’ director that does not ever look at the profit and loss account close

Accounting Principles: Going Concern Principle

The going concern principle (Also look at Accrual Concept, Monetary Unit Assumption and Business entity concept ) mentions that an

Accounting Principles : Monetary Unit Assumption

Accounting is a systematic recording, compilation of reports, and analysis of financial transactions of business. Note that a business accountant

Accounting Principles: Business entity concept

“This is my business and I can do what I want with it!” Have you ever made like this one?

Accounting principles: Accrual concept

Accrual concept is an accounting method that requires you to record both expenses and revenues in the when they occur