Macrs, Accounting Basics

define Macrs in detail
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Materiality Concept: There are several events in business that are trivial or insignificant in nature. The cost of reporting and recording such events will not be justified th

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i want to clear concepts of journal

Q. Sales Returns and Allowances account? The Sales Returns and Allowances account is the contra revenue account to Sales that records the selling price of merchandise returned

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Concept of 'Fund' :  The word 'Fund' has a range of meanings. several people take it identical to cash and for them, there is no dissimilarity between Cash Flow and Funds Flow