Answer Posted / prasanth jenjuluri

Concepts tend to be written in the accounting standards whereas conventions are not and are assumed. 




Examples of concepts would be: Accruals concept, Prudence concept. 
Examples of conventions would be: double entry, accounting equation (assets - liabilities = capital)

while raising credit note for price difference,is it mandatory to charge excise duty 12.36% and vat 14.5% on local supplies

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why accounting is important in business?

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Please help me in this entries Pass accounting entries for the following transaction in the books of XYZ company. A rendered professional service to company XYZ and sent an invoice dated 01/01/2016 for Rs 1,00,000/- + service tax Q1. Pass journal entry for the invoice received considering the service tax and TDS. Q2. Payment was made on 01/02/2016 by cheque. Pass payment entry.

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Explain in simple terms what is the difference between asset, equity, and liabilities?

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What is reversing journal entries?

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DIFFERNCE BETWEEN RESERVE AND FUND?

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what is the performa of bank reconcilation ? i want to need it and also i want to know about tds entry for various sources such as rent,contractor, commission, etc. and how we make the tds return, please tell me its very urgent?

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What do you mean by material facts in accounting?

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salary and rent entry with tds deduct

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What is cost accountancy? What are the objects of cost accountancy?

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Let me know the liability positions of Partners

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Under what type of account do the unearned revenues fall?

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for giving the salary in terms of cash to an employee for what minimum amount revenue stamp is reqired to paste the vouceher? up to what limited revenue stamp is required?

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What is the entry for closing stock value reduction?

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what are your current financial and accounting projects? What is your role?

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