Author: Arinjay Academy

Basis of Accounting – The basis of accounting refers to the method under which revenues and expenses are recognized in the financial statements of any

Basic Accounting Concepts Accounting is based on some Principles which are based on some assumptions which are called Accounting Concepts. These basic accounting concepts are

Generally Accepted Accounting Principles (GAAP) Theory base of accounting comprises concepts, conventions, principles, rules, standards and guidelines developed, to provide uniformity and consistency to accounting

Here, Arinjay Academy comes up with Accounting Treatment notes to assist students in preparing for the upcoming exams.  Table of Content Category Accountancy Class 12

Settlement of Accounts – Dissolution of a partnership firm leads to cessation of business/ operating activities of the firm. This means that the business is

Ascertaining the Amount Due to Retiring/ Deceased Partner When a partner retires/dies, he becomes eligible to receive any amount due to him on account of

Adjustment for Accumulated Profits and Losses – A partnership firm, instead of transferring its profit to capital accounts of partners at the end of a