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The us conquest of the philippines
Despite the earlier successes of Spanish rule in the northern islands, Spanish authorities were forced to confront rebellions that were largely based on local grievances and were relatively easy to subdue. More >>
Spanish conquest of the philippines
The Portuguese system of trade with Southeast Asia was first challenged by its larger Iberian neighbor, Spain. Having had a similar experience with centuries of Muslim rule... More >>
Relations between spanish rule and the moros
For understandable reasons, the transformation and benefits derived from Spanish rule and Catholic missions did not extend to the Muslims. More >>
Building the dutch empire in indonesia
After Spain, the next colonial power to establish a colonial regime in Southeast Asia was the Netherlands. More >>
Bad debt and provision for doubtful debts
No business concern wants to sell goods or services to a customer on credit basis who may prove unable or unwilling to pay his debts. More >>
Calculation of profit under partnership
When the accounts of a partnership are maintained under the single entry system, the calculation of profit or loss is made along the lines indicated above. More >>
Two systems of ascertaining profit or loss
It has been discussed that every business concern ascertains profit or loss of the business at the end of the year through Final Accounts. More >>
When payment is received for services prior to the time that they are performed or rendered... More >>
Two types of expenditure and receipts
It may be recalled that one of the fundamental concepts of accounting is “Matching Concept”. More >>
Depreciation means loss on account of use of an asset or decrease in its value on account of passage of time or decrease... More >>
It may be noted that there is a difference between an expenditure and payment. More >>
The expenses that have been incurred during the current year (the services have been received during the current year) More >>
An expenditure which results in the acquisition of permanent asset which is intended to be permanently used in the business for the purpose of earning revenue is known as capital expenditure. More >>
Prepaid expenses in accounting
The expenses which have been paid during the current year but the services or benefit against them have not been received... More >>
A business is regarded as an economic unit distinct from the owner/owners and the amount invested by the owner/owners is regarded as liability of the business (business has borrowed this money from the owner). More >>
The debts may be collected after they have been written off as bad. This is-known as ‘Recovery of Bad Debts’. More >>
Errors not causing disagreement of trial balance
These errors have no effect on the agreement of the trial balance and it agrees in spite of the existence of such errors. These are not detected by the trial balance and are divided into the following five groups. More >>
Errors causing disagreement of trial balance
Suppose, goods sold to M. Asif Rs. 2000 are correctly recorded in the Sales Book, but erroneously debited twice in Mr. Asif Account in the ledger. For this error, the total of debit column of trial balance will be Rs. 12000 excess. More >>
Capital and revenue expenditures
Whenever we spend money we exchange it for some useful goods or services, but the benefit received from the expenditure varies in duration. More >>
This is a loss suffered by a business on the sale of a fixed asset or it is incurred on raising capital of a joint stock company. More >>
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