Author: Arinjay Academy

Significance of Agreement of Trial Balance To prepare financial statements at the end of an accounting year, it is important that the trial balance should

Comparative Analysis – The two methods generally used to calculate depreciation are Straight Line method and Written Down Value method. An organisation can use either

Effect of any Addition or Extension to Existing Asset Sometimes an existing asset does not function to its full capacity because it requires some additional

Factors Affecting the Amount of Depreciation: The calculation of the amount of depreciation for an accounting period is influenced by the: Actual cost of the

Retiring of the Bill refers to the situation where the drawee upon whom the bill of exchange is drawn settles his account with the drawer

Discounting and Endorsement of the Bill Bill of Exchange: Under the Negotiable Instruments Act 1881, a bill of exchange is defined as a written instrument

Advantages of Bill of Exchange: According to the Section 5 of the Negotiable Instruments Act, 1881, a bill of exchange is an instrument which is

A promissory note is a signed document which contains a written guarantee or a promise to pay a specific amount to a specified individual at

Depreciation Depreciation refers to the decline in the book value of fixed assets due to gradual wear and tear, consumption, effluxion of time or obsolescence

One of the main objectives of preparing trial balance is that it helps in searching of errors committed by an accountant while posting entries in