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Cash Basis of Accounting: Cash Basis of Accounting is a method of recording transactions by which revenues, costs, assets andliabilities are reflected in the accounts …

The statement of changes in equity (also known as the statement of retained earnings) is a financial statement that shows the changes in a company’s …

A cash flow statement is a financial statement that tracks the inflow and outflow of cash within a business during a specific period. It helps …

The income statement, also known as the Profit and Loss Statement (P&L), is a crucial financial statement that summarizes a company’s revenues, expenses, and profits …

The balance sheet is a vital financial statement that provides a snapshot of a company’s financial position at a specific point in time. It’s like …

A core principle of accounting is that a company’s assets must always equal the sum of its liabilities and shareholders’ equity. This is reflected in …

A balance sheet is a fundamental financial statement that provides a snapshot of a company’s financial health at a specific time. It lists a company’s …

Financial statements are written report that shows the financial activities and performance of a business organization, or any entity. It is formatted to present the …

Bookkeeping is the process of recording, organizing, and maintaining financial transactions of a business. It involves tasks such as recording sales, purchases, receipts, and payments …

Accounting is the portrayal of business. It is often regarded as the language also. It is the process of recording, summarizing, analyzing, and reporting financial …