General Accounting

Profitability ratios help understand the profitability of a business at different stages of the income statement. For instance, the gross profit ratio helps to understand … Read more

Businesses generate revenue from rendering services and the sale of tangible products. Income generated from service rendered is referred to as service revenue. The transaction … Read more

Consolidation, mergers, and joint ventures are the concepts of the business when a business acquires another business. The arrangements may be different from company to … Read more

GAAP refers to generally accepted accounting principles. It’s a set of procedures, accounting principles, and accounting standards related to business reporting and financial accounting. The … Read more

Bookkeeping accounting uses the basic accounting concepts in keeping a record of the business transactions and presenting them to an accountant for their perusal to … Read more

Financial accounting is about financial transactions and accounting systems. The end product of financial accounting is the preparation of the financial statement. The scope of … Read more

Today, the biggest check in the list of compliance is the implementation of the IFR-16. An idea to recognize the right to use in the … Read more

Current expected credit loss-(CECL) was introduced by the Financial Accounting Standard board in 2016. CECL model changes the allowance recognition from incurred mode to expected … Read more