Category: Accounting Articles

What is a Budget?

What is a Budget? Budget is a plan of income, expenses & other financial operation for a future period. Concept of Costing A person making or producing any thing must not only know how much it costs to make but also to help in determining the selling price.It is necessary that the person not only knows …

Statement of Significant Accounting Policies

Statement of Significant Accounting Policies   a)    Basis of preparation   The financial statements have been prepared under the historical cost convention under accrual method of accounting except in case of assets for which provision for impairment is made and revaluation is carried out and as a going concern, in accordance with the Generally Accepted Accounting …