Accounting

Accounting records are key sources of information and evidence used to prepare, verify and/or audit the financial statements. They are the original source documents, journal…

Accountancy is the practice of recording, classifying and reporting on business transactions for a business. It is the measurement, processing, and communication of financial and…

An accounting as an information system (AIS) is a system of collecting, storing and processing financial and accounting data that are used by decision-makers. It…

Valuation of Unsold Stock in Accounting for Consignment of Goods Where all the goods have not been sold, it becomes necessary to value the unsold…

Loss of Goods on Consignment Consignment is a process under which the owner consigns/handovers his materials to his agent/salesman for the purpose of shipping, transfer,…

Accounting treatment in the Books of Consignor when Goods Consigned at Invoice Price The relationship between the consignor and consignee is that of the principal…

A joint venture is a business arrangement where two or more companies get into a temporary legal partnership. A contractual agreement is signed by the…

Concept of Joint Ventures A temporary kind of business activity carried on by more than an individual with a view to earning profit in a…

Joint Ventures and Consignment are different methods of doing business. If co-venturers consign goods to each other or to third parties, then such transaction can…

A joint venture is a form of business organization that is temporary in nature. It is a business formed by two or more than two…

Methods of Keeping Joint Venture Account A Joint Venture is a temporary form of business, where two or more persons join together to meet the…

Co-ventures Account Like the capital accounts in partnership, the co-venture account is opened in a joint venture. Co-venture is a business project or enterprise undertaken…