Answer / srikanth

accounting concepts are the terms which are commonly used in
accounting and they are defined in accounting standards

whereas the accounting conventions are not defined in the
accounting standards and they are assumed to be followed in
the preparation of final statements of accounts.

Lets suppose X sold goods to Y on credit basis and after the due date is over Y could not make the payment due to Y became insolvent, so In X books he will show the uncollectible as Bad debts expense but in Y account under which account Y will show this while journalizing this transaction in his books of accounts?

0 Answers  

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What is Suspense Account?

1 Answers   EDS,

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Accrued. What is it? Explain the word

3 Answers   INA Bearings,

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expand W C T

2 Answers  

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Who is the founder of accountancy

7 Answers  

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who issues the indian accunting stANDARD

1 Answers  

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EXPAND_________TIN

3 Answers  

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WHAT IS B.E.P. CHART

0 Answers   ITC Infotech,

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Please help in payroll accounting in tally 9.0, by all means and all things in it (Ex:creation of pay heads, employyes groups, etc and other things which are necessary for payroll accounting).

5 Answers   ABC, Accounting, Aplomb, Infowaves, NIIT, Veekshanam, Wipro,

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Match the following: 1. 2. 3. 4. AS – 7 AS – 9 AS – 19 AS – 20 (i) (ii) (iii) (iv) Earning per Share Construction Contracts (Revised) Revenue Recognition Leases

1 Answers  

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What is Spin-off & spilts

0 Answers   BNP, Mellon,

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Is commission considered bad debt or variable cost?

2 Answers  

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