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Cost Concept

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Accounting Principles And Concepts

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In this video detailed and logical explanation is given about the various Accounting Terms.Following accounting terms are explained in this video:-Capital, Drawings, Debtors, Creditors, Capital Expenditure, Revenue Expenditure, Deferred Revenue Expenditure, Discount, Cash Discount, Trade Discount, Solvent, Insolvent.

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In this video detailed and logical explanation is given about the various Accounting Terms.Following accounting terms are explained in this video:-Transaction, Cash transaction, Credit transaction, Barter transaction, Entry, Narration, Goods, Profit, Loss, Difference between profit and income, Assets, Fixed asset, Tangible asset, Intangible asset, Fictitious asset, Liabilities, Fixed liabilities, Current liabilities, Contingent liabilities.

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Revenue expenditure

Revenue Expenditure : Revenue Expenditure is a basic accounting term used for expenditures which are incurred to acquire benefits which will last for a short period (mostly within a year).

In this video detailed and logical explanation is given about the term “Revenue Expenditure”.

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Branches of Accounting

Branches of Accounting:- Different branches of accounting have been developed to satisfy the accounting requirement of different stakeholders. The three main branches of accounting are: 1) Financial Accounting, 2) Cost Accounting, 3) Management Accounting In this video detailed and logical explanation is given about the Branches Of Accounting.

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Basic Accounting Basis Of Accounting

Basic Accounting - Basis Of Accounting:-

Accounts are recorded on various basis. But the prominent 2 basis on which accounts are recorded are 1) Cash basis and 2) Accrual basis. In cash basis, income is recorded when cash is actually received and expenses are recorded when they are actually paid. But, in Accrual basis, income is recorded when it is earned and expenses are recorded when they are due. In this video detailed and logical explanation is given about the two “Basis Of Accounting”.

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Basic Accounting : Difference between book keeping and Accountancy:-Book keeping and Accountancy are basically two different accounting terms but are generally misunderstood as one. Accountancy is a broader concept than Book keeping. Accounting starts where book keeping ends. In fact Book keeping is a part of Accounting.In this video detailed and logical explanation is given about the Difference between book keeping and Accountancy.

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In this video detailed and logical explanation is given about the term “Creditor”.

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Detailed and logical explanation of what exactly is Book keeping and Accountancy.Book keeping and Accountancy: In this video, the following topics are explained in detail:What is book keeping,Features of book keeping,Importance of book keeping,What is Accountancy,Who all are the users of financial statements and accounting records of a company.

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