Important Bookkeeping Terms
Shamsa Rafique
Important Bookkeeping Terms: Before attempting to learn the art or science of bookkeeping it will be better to clarify some of the terms that will have to be used again…
Shamsa Rafique
Bookkeeping Versus Accounting
Bookkeeping Versus Accounting: Learning Objectives: What is the difference between bookkeeping and accounting? There is some confusion over the difference between bookkeeping and accounting. This is due to the fact…
Bookkeeping
Bookkeeping: After studying this chapter you should be able to: Introduction: The need for a system by which man might keep a record of his business transactions with his fellowmen…
Bills Receivable Book
Bills Receivable Book: Learning Objectives: Define and explain bills receivable book. Prepare a bills receivable book and post into ledger. Definition and Explanation: Bills receivable book is used to record…
Bills Payable Book
Bills Payable Book: Learning Objectives: Define and explain bills payable book. Prepare a bills payable book and post into ledger. Definition and Explanation: Bills payable book is used to record…
Bill of Exchange for Collection
Bill of Exchange for Collection: Learning Objectives: Make journal entries in the books of creditor, debtor, and that of bank when a bill of exchange is sent to the bank…
Bill of materials Definition
Bill of materials Definition: Bill of materials is a document that shows the type and quantity of each major item of materials required to make a product.
Accounting For Bills of Exchange
Accounting For Bills of Exchange: Learning Objectives: Define and explain bills of exchange. What are its advantages? How does a bill differ from a promissory note? How a bill of…
Benchmarking Definition
Benchmarking Definition: Benchmarking is the study of organizations that are among the best in the world at performing a particular task. The idea is to study and analyze the reasons…
Batch Level Activities Definition
Batch Level Activities Definition: Activities that are performed each time a batch of goods is handled or processed, regardless of how many units are in a batch. The amount of…
Basis of Use System of Depreciation
Basis of Use System of Depreciation: Learning Objectives: Define and explain the basis of use system of depreciation. One of the chief factors causing depreciation is use. For example in…
Review Problem 1: Basic Present Value
Review Problem 1: Basic Present Value Computations: For each of the following situations is independent. Workout your own solution to each situation, and then check it against the solution: Situation…
Bank Reconciliation Statement
Bank Reconciliation Statement: Learning Objectives: Define and explain bank reconciliation statement. What are the reasons of disagreement of the balances of cash book and bank statement. Prepare the format of…
Balanced Scorecard Definition
An integrated set of performance measures that is derived from and supports the organization’s strategy.
Balance Sheet
Balance Sheet: Learning Objectives: Define and explain balance sheet. How is a balance sheet prepared? What are the objectives of preparing a balance sheet? Definition and Explanation: A balance sheet…