Accounting is defined as the process of identifying, measuring, summarizing, recording, classifying and presenting the financial transactions in an appropriate manner.
The aim of consistency principle is to preserve the comparability of financial statements. It requires that rules, practices, concepts and principlesused in...
Accounting cycle is a step by step process of collecting, summarizing, recording andpresenting financial information. The Accounting process can be divided...
The payback period is the calculation of the time period in which an investor’s initial investment would be recouped. It is calculated as the time period in which project inflows
Budgeting refers to the process of forecasting future revenues, expenses, and working capital requirements. Purpose of budgeting Below are some of the objectives of budgetary planning and control system: To
The business combination is the transaction by virtue of which one company acquires control over the other company. Every holding company is required to prepare consolidated financial statements (covering group
A joint venture is a business arrangement between two parties where they agree to develop a business relationship (whether or not through a new entity). Under the terms of their
Derivative financial instruments often termed as ‘derivatives’ are financial instruments that derive their value from the performance of underlying items which may be an asset, index, interest rate, or exchange
