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Category: Bookkeeping

Bookkeeping

October 2, 2020 Khayyam Javaid, ACA

Purpose of this section “Bookkeeping” is to explain the concept of bookkeeping and its importance for the success of businesses.…

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Posted in: Bookkeeping, Financial Accounting

Suspense account

October 1, 2020 Khayyam Javaid, ACA

An account used to temporarily store such business transactions whose appropriate account is not ascertainable is called suspense account. This…

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Posted in: Bookkeeping, Financial Accounting

General ledger reconciliation

Khayyam Javaid, ACA

General ledger reconciliation is the process of identifying and rectifying errors in recording business transactions and ensuring the accuracy of…

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Posted in: Bookkeeping, Financial Accounting

General ledger vs subsidiary ledger

Khayyam Javaid, ACA

The space or register where journal entries are recorded is called accounting journal. We’ll discuss the following two types of…

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Posted in: Bookkeeping, Financial Accounting

Capital expenditure vs revenue expenditure

Khayyam Javaid, ACA

You must have observed that some expenditures are capitalized whereas some expenditures are directly charged to income statement. Accountants have…

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Posted in: Bookkeeping, Financial Accounting

Sample chart of accounts

Khayyam Javaid, ACA

There is no prescribed chart of accounts and every business has its own chart of accounts depending on its nature,…

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Posted in: Bookkeeping, Financial Accounting

Chart of accounts

Khayyam Javaid, ACA

Chart of accounts is a list of all the accounts that an entity has identified for recording business transactions using…

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Posted in: Bookkeeping, Financial Accounting

Supporting documentation

Khayyam Javaid, ACA

Documentary proof of business transactions recorded in the accounting system is known as supporting documentation. In previous chapter, we have…

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Posted in: Bookkeeping, Financial Accounting

Basic bookkeeping

Khayyam Javaid, ACA

Bookkeeping is a part of accounting which is concerned with recording business transactions through journal entries and posting those entries…

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Posted in: Bookkeeping, Financial Accounting

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    Financiopedia
    • Financial Accounting
      • Basics of accounting
      • Double-entry accounting system
      • Accounting cycle
      • Accounting principles
      • Bookkeeping
      • Accounting of assets
      • Property, plant and equipment
      • Financial instruments
      • Inventory
      • Accounts receivable
      • Accounting of liabilities
      • Accounting of income
      • Accounting of expenses
      • Financial statements
      • Ratio analysis
    • Management Accounting
      • Introduction to management accounting
      • Introduction to costs
      • Material and labour costs
      • Marginal and Absorption Costing
      • Inventory valuation
      • Inventory management
      • Costing systems
      • Budgeting
      • CVP analysis
    • IFRS
      • IFRS 15 – Revenue from contracts with customers
      • IFRS 9 – Financial Instruments
    • About Us