Account XII

Income Statement

Income statement is a description of the entities profitability over a period of time, usually...

Cash flow statement is the statement of the company that shows the movement of cash...

Different types of Journal Entries: 1. Started/Commencement/Invested in a Business: All assets A/c To capital...

Entity: An entity means an economic unit that performs economic activities like National Trading Ltd.,...

Accounting: Accounting is the art of recording, classifying, and summarizing in a significant manner and...

Concept Ratio is a relationship between two figures of financial statements. It is important tool...

Concept Financial statements are the end results of business activities undertaken by the business entity...

Company Company is an artificial person created by law with distinct legal existence to carry...

Concept Cost accounting is the classifying, recording and appropriate allocation of expenditure for the determination...

Concept Cost is defined as an amount of money spent for obtaining anything, goods or...