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Tutor's Tips > Archive for Financial Accounting

Category: Financial Accounting

Financial Accounting Tutorial

Financial Accounting
Financial Accounting

We will explain you Financial Accounting in this Tutorial is very simple and easy way.

Meaning of Financial Accounting:

Basic or initial level accounting in which we are recording, summarising and analyzing day to day transactions of the particular business is called financial accounting. and at the end, we will get to know about the financial position of a business or an organization by preparing Profit/loss and balance sheet of business in the particular financial year.

Cheque : Meaning , Types and Explanation

November 18, 2018March 19, 2022 Amanpreet Kaur
Cheque - Meaning, Types and explanation

The cheque is an instrument in writing which contains an unconditional instruction to a banker (by a person who has already deposit the amount with a banker), to pay a specific amount to a certain person or to the order of Read More …

Financial Accounting1 Comment

Negotiable Instrument: Meaning and Explanation

November 17, 2018September 10, 2020 Amanpreet Kaur
Negotiable Instrument - Meaning, Types and explanation

A Negotiable Instrument is a document that contains a promise by one person to pay a specific amount to another certain person. In simple words, It is a written promise to pay a certain amount by the borrower to the Read More …

Financial AccountingLeave a comment

Promissory Note: Meaning and Explanation

November 15, 2018April 9, 2020 Amanpreet Kaur
Promissory Note - Meaning and explanation

Promissory Note: A promissory note is an instrument that contains the written and signed promise by the maker(the debtor) to pay a certain amount to the creditor at the specific date or on-demand. “A Promissory Note is writing (not being Read More …

Financial Accounting1 Comment

Bill of exchange (BOE): Meaning and Examples

November 14, 2018March 15, 2022 Amanpreet Kaur
Bills of Exchange - Meaning and explanation

Today we are covering the conceptual topic of the Bill of Exchange. So please read it very consciously and in this article, you will learn the meaning of the Bill of Exchange, Features, parties involved, format of Bill of exchange, Read More …

Financial Accounting28 Comments

Suspense Account: Meaning and explanation

November 13, 2018September 7, 2020 Amanpreet Kaur
Suspense account

Suspense Account: – The suspense a/c is that account in which we have to record all those business transactions which have incomplete information. Sometimes, An accountant did not have proper information about the transaction but he has to record all Read More …

Financial Accounting3 Comments

Error Rectification in accounting – Explanation with examples

November 10, 2018March 20, 2022 Amanpreet Kaur
Error Rectification in accounting - Explanation with examples

Today we are covering the Technical topic of Error Rectification. So please read it very consciously and in this article, you will learn the meaning of the Error, Types of Errors, way of Error Rectification, and understand it in much better Read More …

Financial Accounting5 Comments

Income Statement: Meaning, Format & Examples

October 29, 2018October 9, 2020 Amanpreet Kaur
Income Statement - Feature Image

The income statement shows all expenses incurred and revenue earned during a particular period. It is prepared to find out the Net earnings of the business for the particular accounting period. It is also known as Profit and loss account/statement. Read More …

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Balance Sheet: Meaning, Format & Examples

October 27, 2018March 23, 2022 Amanpreet Kaur
Balance Sheet - Feature Image

Today we are covering the topic of the Balance sheet. This is the last topic of final accounts. After this topic, we will cover all adjustments of the final account which is your next chapter. In this article, you will Read More …

Financial Accounting5 Comments

Profit and Loss Account: Meaning, Format & Examples

October 23, 2018March 20, 2022 Amanpreet Kaur
Profit and Loss Accounts - Feature Image-min

Today we are covering the Technical topic of the Profit and Loss account. So please read it very consciously and in this article, you will learn the meaning of the Profit and Loss Account, Feature, Needs, Format, and understand it Read More …

Financial Accounting3 Comments

Trading Account: Meaning, Format and Examples

October 21, 2018March 20, 2022 Amanpreet Kaur
Trading Accounts - Feature Image-min

Meaning of Trading Account: – Trading account is prepared to find out the gross profit of the business for the particular accounting period. It is calculated by comparing the net sale with the cost of goods sold(COGS). Gross Profit/Loss =  Net Sale Read More …

Financial Accounting8 Comments

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We are here to improve your knowledge in all financial & Business related topics and to get better carrier opportunities. The author has about to 10-year Experience in the tuition Business. It is very difficult to teach more students in a personal touch. TutorsTips.com or TutorsTips.in (Hindi Version) is free of cost for all the students and professionals who want to clear their basic and advance concepts which are related to professional accountants. Read more

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