What is a trial balance?

Trial balance is the listing for all the balances obtained from general ledgers; it’s an ending balance obtained from the general ledger and used to … Read more


Fictitious assets

Fictitious assets meaning/definition Fictitious assets are not an asset in reality. However, these assets are recorded in the balance sheet to reflect a true sense … Read more


What is ERP– Detailed aspect

ERP is an advanced system of business management that integrates different operating modules and business intelligence. It helps in effective business management with real-time reports … Read more


Materiality in accounting

The concept of materiality helps an accountant decide which account balances should be disclosed separately and which of the account balances should be merged. The … Read more