The accounting cycle is an eight-step repeatable process essential for accurate financial reporting. It starts with identifying transactions, creating a record, and then allocating each transaction to ...

Accounting Equation effects ... Necessity of cash book and its preparation. Simple cash book and cash book with cash and discount column. Petty cash book with imprest system.

Simple transactions related to bills of exchange ... different terms used in bills of exchange and their implication in accounting Final Accounts: Preparation of Trading and Profit & loss Account ...