Success Roar Classes


Adjustment of Capital

Adjustment of Capitals - Success Roar Classes

What is adjustment of capital? Sometimes the capitals of the partners are adjusting at the time of admission of a new partner. Adjustment of the capital of partners in a partnership firm is another major adjustment that requires proper accounting treatment. Partner’s capitals may be adjusted in the following two ways: How to adjust of …

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Concept Explanations for Class 11 – Accountancy

Accountancy Chapter – Meaning and Objectives of Accounting Meaning of Accounting Objectives and Functions of accounting Book-keeping, Accounting, and Accountancy Types of Accounting Users of Accounting Information Advantages and Limitations of Accounting Qualitative characteristics and Role of Accounting Information Chapter – Accounting Terminologies Accounting Terminologies-1 Accounting Terminologies-2 Accounting Terminologies-3 Accounting Terminologies-4 Accounting Principles Accounting Principles …

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Accounting Terminologies – IV

Accounting Terminologies - Success Roar Classes

What is a Receipt and what are the types of receipt? As per dictionary meaning, receipt means receiving or getting something. The same meaning is used herein accounts i.e., receiving or getting money in business. For example, goods sold for 1,00,000. This is the receipt in the business A receipt can be of two types- …

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Accounting Principles and Assumptions

Accounting Principles and Assumptions - Success Roar Classes

What is Accounting Principles? Accounting principles refer to those set of rules which provide the basic idea, parameters, limitations for implementing the accounting process in a well-defined manner. These rules are also called Generally Accepted Accounting Principles or GAAPs. (Accounting Principles and Assumptions) Principles of Accounting are the general law or rule adopted or proposed …

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