This article throws light upon the top seven concepts of accounting. The concepts are: 1. The Money Measurement Concept 2. The Business Entity Concept 3. The Ongoing Concern Concept 4. The Cost Concept 5. The Dual Aspect Concept 6. The Accrued Concept 7. The Realisation Concept. Concept # 1. The Money Measurement Concept: The record is important in terms of [...]
After reading this article you will learn about maintaining accounts of your farm business. Book-Keeping: In agricultural business management the role of farm records. Book keeping, maintaining accounts and analysis of the records of the farm is of immense importance because business should reveal what the entrepreneur has incurred as cost, what return is he getting and how much profit [...]
After reading this article you will learn about:- 1. Meaning of Budgetary Control 2. Objectives of Budgetary Control 3. Merits 4. Limitations 5. Requisites 6. Classification. Meaning of Budgetary Control: The budgetary control is defined as the establishment of budget relating to the responsibility of executive to the requirement of a policy and the continuous comparison of actual with budgeted [...]