Accounting Standards 2018

Accounting Standards

Accounting Standards The Institute of Chartered Accountants of India (ICAI) had established an Accounting Standards Board (ASB) in 1977 with the aim of developing accounting standards and issuing guidelines for implementation thereof. The Following brief gives the various standards issued by the ICAI as on March 2006. AS1 – Disclosure of Accounting Policies (January 1979) […]

The While Loop

The While Loop It is often the case in programming that you want to do something a fixed number of times. Perhaps you want calculate gross salaries of ten different persons, or you want to convert temperatures from Centigrade to Fahrenheit for 15 different cities. The while loop is ideally suited for this. Let us […]

Loop Control

Loop Control

Loop Control (a) The three types of loops available in C are for, while, and do-while. (b) A break statement takes the execution control out of the loop. (c) A continue statement skips the execution of the statements after it and takes the control through the next cycle of the loop. (d) A do-while loop is used to […]

Financial Statements

Financial Statements

Financial Statements A Financial Statement is a periodic report prepared from the accounting records of a company. Financial statements include the profit and loss statement (or income statement), balance sheet and cash flow statement. Financial statements are usually compiled on a quarterly basis or annual basis. For reporting convenience, the profit and loss account is […]

Compilation and Execution

Compilation and Execution Once you have written the program you need to type it and instruct the machine to execute it. To type your C program you need another program called Editor. Once the program has been typed it needs to be converted to machine language (0s and 1s) before the machine can execute it. […]

Decision Control Statement in C

Decision Control Statement in C Summary (a)    There are three ways for taking decisions in a program. First way is to use the if-else statement, second way is to use the conditional operators and third way is to use the switch statement. (b)   The default scope of if statement is only the next statement. So, to execute […]

Systems of Accounting

Systems of Accounting There are many ways of classifying the systems of accounting. The most popular ways are. Single entry system Double Entry system Single Entry System It is a system of accounting under which only one aspect (Debit or Credit) of the transaction is recorded. It is usually used by small concerns which have […]

Accounting Cycle

Accounting Cycle The term ‘Accounting Cycle’ refers to the sequence of accounting procedures followed in recording, classifying and summarising business transactions. In starts with identification of business transactions and ends with the adjustment entries for prepaid and outstanding expenses. The sequence of accounting procedures is as follows. Identification of transactions. Preparation or receipt of business […]