Size of business unit
by A Business Unit is most commonly recognized as an independent transaction-processing entity. It is defined …
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Social Responsibility of Business
Social responsibility of business implies the obligations of the management of a business enterprise to …
Nature and Scope of business
Old Concept of Business: In the old days the business was conceived merely in terms …
Voyage Accounts Meaning & Preparation of Voyage Accounts
The method of accounting followed by shipping companies is known as voyage accounting. Shipping companies …
Insolvency Accounts Meaning
In accounting, insolvency is the state of being unable to pay the debts, by a …
Deficiency Account
When any company becomes bankrupt, at that time, deficiency account is prepared. This account shows …
Default in Payment and Partial Return of Goods
Default is failure to meet the legal obligations (or conditions) of a loan, for example …
Installment Accounts
The installment method is an approach to revenue recognition in which the business owner defers …
Circumstances of Insolvency, Procedure of Declaring Insolvency
The Insolvency and Bankruptcy Code 2016 recently completed its second anniversary successfully. In these two …
Preparation of Statement of Affairs
Correct final accounts of a business can be prepared in the records are maintained under …