Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Dual Aspect Concept - Accounting Principle
This is, no doubt, the basic concept in accounting. Under this concept, each transaction has got a two-fold aspect:
(i) yielding to or receiving of benefit and
(ii) giving of the advantages.
For instance, while a firm obtains an asset (receiving of the benefit) it must have to pay cash (giving of the benefit). Therefore, two accounts are to be passed in the books of accounts, one - for receiving the benefit and the other - for giving the benefit. Therefore, there will be a double entry for every transaction - Debit for receiving the advantage and credit for providing the benefit. So, for each and each debit there must be a corresponding credit and vice versa. This is the principle of Double Entry System of accounting which, Instead, known as the 'Dual Aspect Concept'.
ICEQ'sgo beyond ICQ's Discover whether error or fraud is possible. Concentrates on significant frauds or errors which might be possible and so only a handful of key con
Generally, an interest rate or an interest rate index is used as a reference rate for However, through financial engineering, issuers have been able to construct
Purchasing and discounting of bills is the most important, from in which a bank lends without any collateral security. Present day commerce is build upon credit. The seller draws a
What is Commercial Paper? Please provide me report on Estimation of Commercial Paper. It is about 2000 words count report on topic Commercial Paper.
How does accounts receivable factoring work? What are the benefits to the two parties involved? What are the risks? Factoring is when one firm trade accounts receivable (AR)
Question 1 Sections 42 to 50 of the Act deal with provisions pertaining to welfare of workers. State a few welfare measures that you would suggest in factories. List the welfare m
Accounting to Budget: Accounting to budget is a commonly used term to describe how an organisation controls its accounting process. Typically, an organisation divides its re
Global Scenario The Hedge Fund industry has captured over US $ 2 trillion in assets globally by the end of year 2006. According to an investor survey revealed for the Hedge Fun
It is a method of budgeting in which the actions that incur costs in every functional area of a company are recorded and their relationships are defined and evaluated. Activities a
No External Financing for New Proposals: If a firm have sufficient retained earnings with it as required by the new proposal, then the firm may not raise any external finance. In
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd