Valuation of Stock

Valuation of Stock

Stock Valuation FIFO & Weighted Average Method FIFO METHOD: This method assume that the items received first are issued (Sold or consumed) first, So that the latest items are in Stock. In this method, an issue is valued at the oldest rate, while the closing stock...
Accounts of Not For Profit concern

Accounts of Not For Profit concern

A non profit organization (NPO), or non-business entity, is an organization which does not give its surplus income to owners or shareholders. It uses its revenue and/or capital to achieve its purpose or mission. The decision to adopt a non profit legal structure is...
Bank Reconciliation Statement

Bank Reconciliation Statement

Understanding the Bank Reconciliation Statement Bank reconciliation statements ensure payments have been processed and cash collections have been deposited into the bank. The reconciliation statement helps identify differences between the bank balance and book...
Internal Reconstruction

Internal Reconstruction

Internal reconstruction is an arrangement made by companies where by the claims of shareholders, debenture holders, creditors and other liabilities are altered or reduced, so that accumulated losses are written off, assets are valued at its fair value and balance...
Cash Book

Cash Book

A cash book is a financial newspaper which includes all cash receipts and disbursements, including bank deposits and withdrawals. After that, entries in the cash book are added to the general ledger. Bank plays an important role in providing various services to...