Showing posts with the label FinanceShow All
Blog Residual value/Salvage value/ Scrap value

Residual value/Salvage value/ Scrap value

JAFAR P P 21:54

What is the difference between residual value, salvage value, and scrap value? The ter…

Blog Difference between Reserves and Provisions

Difference between Reserves and Provisions

JAFAR P P 01:33

Reserves Reserves are the investment derived from the dividend itself. When an owner o…

Blog Contingent Asset & Liability

Contingent Asset & Liability

JAFAR P P 05:27

Contingent Asset & Liability Contingent Asset Is a possible asset that may arise f…

Blog What is the journal entry for goods given for CSR activity/Charity?

What is the journal entry for goods given for CSR activity/Charity?

JAFAR P P 08:34

When a business decides to give goods in charity it also needs to account for those go…

Blog What are Fictitious Assets?

What are Fictitious Assets?

JAFAR P P 18:52

The Fictitious word, itself says  “fake” . So Fictitious Assets are not an  asset  in …

Blog What is Amortization?

What is Amortization?

JAFAR P P 01:54

Reduction in the value of an  intangible asset   by prorating its cost over a period o…

Blog Why is Closing Stock not Shown in Trial Balance?

Why is Closing Stock not Shown in Trial Balance?

JAFAR P P 01:18

Not all goods purchased in beginning & during the accounting period are sold until…

Blog Golden Rules of Accounting

Golden Rules of Accounting

JAFAR P P 03:46

What are the Three Golden Rules of Accounting? Golden rules are  used to prepare an ac…

Blog LIST OF GOODS AND SERVICES NOTIFIED UNDER REVERSE CHARGE MECHANISM (RCM)

LIST OF GOODS AND SERVICES NOTIFIED UNDER REVERSE CHARGE MECHANISM (RCM)

JAFAR P P 23:06

(Updated as on 30th September 2019) Government has notified Goods and Services which a…