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accounting

How to Calculate Notional Profit (PDF)

NB: When the contract is between 30% and 80%, 2/3 is the generally accepted fraction in order to arrive at…

Job Costing: Examination Guide and Format on Job Costing

Job Costing Overview: Introduction Whats is Job Costing? It is a form of specific order costing in which costs are…

Bookkeeping, Accounting and the Double-Entry Principle

Principles of Bookkeeping And Accounting. Thousands of years ago, there were no standard permanent records of business transactions, but with…

Branches of Accounting – 8 Types of Accounting

Accounting can be classified in various ways. This includes Accounting as an information system, Accounting as a Profession, Public Accounting,…

Control Account Definition – Uses & Adv. of Control Account

What is a Control Account? Control Account is a memorandum account into which are transferred in totals, the various amounts…

Importance of Accounting in an Economy

Accounting is no doubt, the universal language of business and figure. Those that fluently speak the language are called accountants.…

Contract Costing – Format for Notional Profit

In this summary, you will learn the definition of the term Contract Costing, The Characteristics and Problems associated with a…

Questions on 1,2,3 Column Cash Book

Welcome back! I believe you have read extensively and also watched one of my videos on the Cash Book Accounting?…

10 Questions on Subsidiary Books

Question 1 You are to enter up the sales journals for the following details. Post items to the relevant accounts…

1, 2, 3 Columns Cash Book +Video Guide

The cash book is a subsidiary book of first entry for all cash transactions. It is also a ledger book…

Subsidiary Books of Accounting; Types & Summary

What are Subsidiary Books? Subsidiary books are books of prime entry used to record source documents arising from business transactions…

Ledger Accounts and Trial Balance +Video Guide

Ledger Accounts and Trial Balance. In this article, Ledger Accounts, you are going to learn the definition of the term…