Category Archives: Principles of Advanced Accounting

Property, Plant and Equipment

This is a group assignment that I did with my degree classmates lately. I would like to share it with the world. I hope this is useful. 1. Compare the property, plant and equipment of the 2 SGX listed companies, … Continue reading

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Theory on Incomplete Records

Definition: Any method of recording financial transactions which does not use a full double-entry system is described as incomplete. It is also known as single-entry bookkeeping. 1. Types of Incomplete Records (a) No written record -“cash only” transactions -no invoices … Continue reading

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Basic Rules of Accounting

Accounting Concepts INCREASES= DR DECREASES= CR INCREASES= CR DECREASES= DR DEBIT CREDIT ASSETS LIABILITIES EXPENSES REVENUES DRAWINGS CAPITAL PURCHASES SALES SALES RETURNS PURCHASE RETURNS (SPEAD) (CSPRL- can sally please revise literature)

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