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On our previous post on Leger we have discussed Definition and Format of Leger. This free online accounting training class on Subsidiary Ledger will help you to understand: What is Subsidiary Ledger in Accounting Meaning & Definition of Subsidiary Ledger in Accounting Advantages or Benefits of using Subsidiary Ledger in Accounting A larger company has…

This free online accounting training lecture on Double Entry System will help you to understand: What is Double Entry System History behind Double Entry System Father of Double Entry System Double Entry Bookkeeping So dear accounting students, from our previous online accounting training lectures you have come to know that every transaction affects at least…

This Article on Forensic Accounting‘ will help you to learn: Meaning & Definition of Forensic Accountant What do Forensic Accountants Do Why Forensic Accountant is necessary Role of Forensic Accountant in business In general term a Forensic Accountant could be defined as the person who seeks for the truths and evidence for proving those truths.…

Checks can be used for various purposes. For example, personal purpose, for business purpose or for operating the business activities etc. But generally in the normal activities of life or in day-to-day life, it is not practical or necessary for a business to write checks to pay small amounts of money, such as postage. These…

This free online accounting training class on Sales Journal will help you to understand: What is Sales Journal Definition of Sales Journal Example of Sales Journal Entries of Sales Journal Sales Posting Procedure Many students wonder what is sales journal.In short, Definition of Sales Journal could be as a special journal which is kept to…

This free online accounting training tutorial will help you to understand: Meaning & Definition of Merchandising Meaning & Definition of Merchandising Company Meaning of Merchandise Operation Types of Merchandising Companies Merchandising is selling products to consumers. Merchandising is a popular marketing term which also means selling product and services of a company by others. In…

At the end of the accounting period all companies need to determine inventory quantities for effectively performing the business activities. A merchandising company may use periodic or perpetual inventory system, but in every inventory system the inventory need to be valued at the end of particular accounting period. These both inventory systems must take a…

Following free online accounting training class on Plant Assets will help you to understand: Definition of Plant Asset Plant Asset Concept in Accounting Types of Plant Asset Plant Asset Valuation Method Plant assets’ can be defined as resources that are identified with three characteristics: the assets must have a physical substance with a definite size…

This accounting training tutorial on Single Step Income Statement will help you to understand: What is Single Step Income Statement Advantage of Single Step Income Statement Template of Format of Single Step Income Statement Income Statement can be in two formats. One is Multiple Step Income Statement and another form of income statement is the…

Here in this Free accounting tutorial blog we will discuss about Periodic Reporting Concept in Accounting that will help you to understand: Whether a small or large business organization, all have to prepare financial statements for their internal and external use to make proper economic decisions and planning. If the organization is a small one then owners particularly need…