English Essays for Students
Essay on True Muslim
Essay on True Muslim is the favorite topic of the examiner of 9th, 10th, 11th and 12th classes. In this…
Essay on Advantages of Internet for Students
School students are often asked essay questions. Essay on Advantages of Internet for Students is a popular…
Essay on Energy Crisis in Pakistan
Student of 9th, 10th Class, 11 and 12th class can use Essay on Energy Crisis in Pakistan to gain good…
Essay on a Rainy Day
The School and College exams often ask Essay on a Rainy Day. Students of class 5, 6, 7, 8, 9 and class…
MODEL PAPER MCQS of XII BIOLOGY (BOTANY) OF BOARD OF INTERMEDIATE KARACHI 2023
MODEL PAPER MCQS of XII BIOLOGY (BOTANY) OF BOARD OF INTERMEDIATE KARACHI 2023
XII BIOLOGY (BOTANY)…
Essay on A Visit to the Zoo 300 Words
You will be asked to write Essay on a visit to the Zoo in 300 words. You can follow the steps below to…
Essay on a Visit to a National Museum of Pakistan
One of the hottest topic in exam is essay on a visit to a national museum of pakistan. Not only we will…
Essay on A Little Knowledge is a Dangerous Thing
Essay on A Little Knowledge is a Dangerous Thing is one of the hot topic for the examiner. This is actually…
A Friend in Need is a Friend Indeed Essay
A friend in need is a friend indeed is a favorite essay often asked in the examination. Instead of memorizing…
14th August Pakistan Independence Day Speech in English
Pakistan got Independence in August 14, 1947 from British rule. Since then, we celebrate Independence…
Essay on Population Growth Challenges
This is the most common challenge all over the world. That is why, Essay on Population Growth Challenges…
A Road Accident Essay for Class 12
A Road Accident Essay 100 Words and 200 Words is asked in class 10 and class 9. Road accidents are quite…
Essay on Our National Poet
South East Asia has a great number of poets such as Mirza Ghalib, Meer Taqi Meer, Mir Dard, Josh Maliha…
10 Lines on Myself
10 Lines and 5 Lines are popular types of essays of classes 1, 2 and 3. Our notes are easy and simple….
10 Lines on Football
Football is a popular game played all over the world. In class 1, 2 and 3, 1o lines, 5 and few lines…
My Favourite Teacher 10 Lines
My Favourite Teacher 10 lines is mainly asked in Class 1, 2 and Class 3 examinations. It is always to…
5 Lines on My School
5 Lines on My School
My School is a short type of essay. Often asked in the form of 5 and 10 lines….
5 Lines on My Favourite Game Cricket
My Favourite Game is a short type of essay and is good for class 1, class 2 and class 3. 5 Lines and…
Essay on Cow Class 1
5 Lines Essay on Cow class 1 and for class 2 is a short type of essay and is good for junior classes….
5 Lines on Dog
This Dog is a short type of essay and is good for class 1, class 2 and class 3. 10 Lines and 5 Lines…
10 Lines on Farmer in English
The Farmer is a short type of essay and is good for class 1, class 2 and class 3. 10 Lines and 5 Lines…
10 Lines on Fish Essay
10 Lines on Fish
Fish are sea creatures. Kids like fish too much. That is why in schools, 10 lines…
Essay on Allama Iqbal
This essay on Allama Iqbal covers an important leader of Pakistan and India for school and college students….
Stitch in time saves nine story moral story
At various stages of our studies, different moral stories are included in the syllabus. One of them is…
Essay on problems of Karachi
Problems of Karachi essay in English. Available in 150, 200, 250 and 300 words and in 10 lines. Good…
Essay on My Garden
My garden essay in English. Available in 150, 200, 250 and 300 words and in 10 lines. Good for 6, 7,…
A Visit to a Science Exhibition Essay
Essay on a visit to science exhibition
A visit to a science exhibition essay in English. Available…
Essay on Summer Season in English
Summer Season Essay
Essay on Summer Season in English. Available in 150, 200, 250 and 300 words and…
My Aim in life to become a doctor English Essay
My aim in Life is to become a doctor Essay in English. Available in 150, 200, 250 and 300 words and in…
Life in a Village Essay
Life in a village Essay in English is available in 150, 200, 250 and 300 words and in 10 lines. Good…
Essay on Traffic Problems in a Big City in English
Essay on traffic problems in a big city in English. Available in 150, 200, 250 and 300 and 1000 words…
Life in a big city Essay in English
This essay also come in exams using words Pros and Cons of living in a big city. This comes frequently…
Essay on College Life in English
This is an essay on College Life. It can be shortened to 100, 150, 200, 250, 300 and 350 words as per…
Essay on Patriotism in English
Patriotism Essay in English. Available in 150, 200, 250 and 300 words and in 10 lines. Good for 6, 7,…
Education for Women Essay in English
Education for Women Essay in English. Available in 150, 200, 250 and 300 words and in 10 lines. Good…
A Cricket Match Essay in English
A Cricket Match English Essay in 150, 200, 250 and 300 words and in 10 lines. This essay is ideal for…
A Visit to a Historical Place English Essay
English Essays are examined in various exams especially in 6, 7, 8, 9 and 10th grades. We have written…
My Aim in Life Essay in English
My Aim is Life English Essay
This essay is good for all classes/ grade 6, 7, 8,9 and 10 including…
Health is Wealth Essay
Health is Wealth English Essay for School and College Students
150 Words
Due to hectic life and increase…
Essay on Birthday Party
Essay on Birthday Party
150 Words
Birthday is the day to celebrate our entry into the world. It is…
My Favorite Book Essay
My Favorite Book Essay in English
This is good for students of Grade/ Class 1 to 8. However, it is…
A Visit to a Hill Station Essay
A Visit to a Hill Station Essay
150 Words
Most people in their lives never visited any hill station….
My House Essay
My House Essay in English
150 Words
House is a place where family lives. My house is a small one….
Our Country Pakistan Essay
Our Country Pakistan Essay
150 Words
Pakistan is the first country in the world that came into being…
Our National Hero or Quaid-e-Azam Essay
Our National Hero or Quaid-e-Azam Essay
Our-National-Hero-or-Quaid-e-Azam-Essay
150 Words
By…
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Free Accounting Learning Materials for B Com, ACCA, CIMA, ICMAP, ICAI, ICMAI, ICAEW, ICAP, CIPFA, PIPFA
IAS 7 statement of cash flows question answers
IAS 7 statement of cash flows question answers
position
2013
2012
Retained earnings
Rs.
Rs.
General…
IAS 24 Related Party Disclosure Questions and Answers – RPT
IAS 24 Related Party Disclosure Questions and Answers help companies to properly show RPT transaction…
IAS 16 Property, Plant and Equipment Questions with Solutions
There is a complete guide on Property, Plant and Equipment in IAS 16. The treatment is same both under…
Sales and Leaseback Transactions
As the name suggests, Sale and Leaseback transactions involve both sale and lease transactions at the…
Held to Maturity Investment
Held to Maturity Investment is debt securities which is kept under control till the time of its maturity…
Trial Balance MCQS Question And Answer
1.In Trail balance, debit side should be ____ to credit side.
Equal
Less than
Greater than
2.Trial…
Labor Efficiency Variance MCQS Multiple Choice Questions
1.Labour efficiency variance is a part of
Material variance
Labour variance
Overhead variance
2.Efficiency…
Labor Rate Variance MCQS Multiple Choice Questions
1.Rate variance is a part of
Material variance
Labour variance
Overhead variance
2.Rate variance…
How to get maximum stock level
We have covered maximum stock level in great detail in our previous post. As we know, in order to get…
Cash Flow Statement MCQS Multiple Choice Questions
1.A statement which summarizes cash inflow and outflow is referred to as:
Income statement
Balance…
Profitability Ratio
Profitability Ratio is a very good metrics to calculate the entity’s strnegth in generating profit…
Rectification of Error MCQ
1.Accounting errors can be classified into ______ types:
One
Two
Three
Four
2.When the transaction…
Advantages of maximum stock level
In inventory management, maximum stock level plays a vital role for planning and decision making. Without…
Factoring of Accounts Receivable
Factoring is a term used in connection with accounts receivable. It refers to a situation where the actual…
Bank Reconciliation MCQS
We have covered Bank Reconciliation Statement in great detail. Now, it is the time to do some quizzes…
Going Concern Concept MCQS Multiple Choice Questions
1.Which one of the following is a fundamental accounting concept?
Fair value concern
Going concern
None…
Adjusting Journal Entries Problems and Solution
We have covered Adjusting Entry topic in great depth. Now, it is the right time to practice more to gain…
Share or Stock Valuation Model
Stock Valuation Via Dividend Growth Model
Stock Valuation Via Supernormal Growth Rate
Cash Discount on Sales
Cash discount is the term quite common in sales made to customers on credit terms. As we know that very…
Features of Various Kinds of Bank Accounts
Commercial Banks offer numerous services to their clients and as such different types of accounts are…
Adjusting Entries MCQs Multiple Choice Questions
1.Accrued expenses are:
Assets
Liabilities
Equity
2.Prepaid insurance is shown in:
Profit &…
Financial Ratios
Financial ratios are the best tools to analyze the performance of a company. There are so many ratios…
Bank Overdraft
If the entity takes out money more than the balance available in the bank account, the bank balance goes…
Cash Book MCQS – Multiple Choice Questions
1.Cash book is a book of:
Original entry
Specialized journal
Income & expenditure
2.Cash…
Kinds of Endorsement
We have covered in detail about Endorsement in our previous post. Now, it is the time to pour…
Salary Income
Salary means any amount received by the employee from its employer and includes:
Pay, wages
Allowances…
Master Budget
Master Budget is a collection of all lower level budgets and provides a great route to the management…
Royalty Accounting
When the assets, property or name of someone is used by another person to earn revenue, this is called…
Payroll Accounting
Payroll is a major element of cost in organizations especially the manufacturing one. So, it is not an…
Inventory Management
Inventory is a vital part of trading and manufacturing companies. That is why, it is necessary to have…
Standard Costing
Standard Costing is often described as estimated future cost because it is set before undertaking any…
Break Even Analysis
Break Even Analysis is done to estimate how much company should sell to meet its total cost. It means…
Relevant Cost
Relevant Cost is an important concept in management accounting. It is one over which decisions are made…
Throughput Accounting
Throughput Accounting is a different approach in management accounting as it treats only the…
Activity Based Costing (ABC)
In Activity Based Costing (ABC), the entity identifies the activities which are responsible for…
Multiple Choice Questions on Cost Classification
MCQS (Multiple choice questions) are integral part of exam papers. These Quizzes provide valuable knowledge…
Cost Accounting MCQS – Multiple Choice Questions
1.The main objective of Cost accounting is to ascertain the financial position on a particular date.
False
True
2.Job…
Benefits of Minimum Stock Level
Minimum stock plays a key role in the inventory management. That is why, entities perodically review…
Cost Ratios
So far we have read about financial ratios but in a uniform costing we use numerous cost accounting…
Uniform Costing
Though, there are numerous cost accounting methods & practices. But in order to compare various units…
Stores Ledger
Store ledger is a type of ledger which is maintained in costing department. It is like a reconciliation…
Bin Card
Bin card is the statement of all the receipts and issue of the stock from the store department. It is…
Maximum Stock Level
In order to keep the ordering cost and carrying cost under control, a maximum level of stock is determined….
Minimum Level Stock
In order to avoid any halt in the production process, there is a strong need to maintain a minimum level…
Danger Level
Danger level as the name suggest, is the point where normal issue of materials or inventories are stopped…
Economic Order Quantity EOQ
When a new item of inventory is ordered for purchase, it involves three types of costs which are acquisition…
Re-Ordering Level
Re-Ordering Level
It is the level at which new purchase requisition is initiated by the store keeper…
Elements of Cost
Financial accounting accumulates various types of costs into broad account. But this is not good for…
Practical Difficulties in Installing a Cost Accounting System
Practical Difficulties in Installing a Cost Accounting System
There is no doubt that cost accounting…
Process Costing
In industries where similar types of products are produced, the process costing is the best cost accounting…
Joint Product Costing
Sometimes, it happens that during the same production activity, more than one product get created. Under…
Disadvantages of Marginal Costing
Mostly, marginal costing is used for decision-making process. But the decision maker should keep in mind…
Advantages of Marginal Costing
Marginal costing is regarded as the key tool to make well-informed decisions in a manufacturing sector….
Disadvantages/ Drawbacks of Absorption Costing
The absorption costing is no doubt a good system of costing the product but it has few drawbacks as well…
Advantages, Benefits, Pros of Absorption Costing
Absorption cost is a worldwide accepted cost accounting method. It has associated advantages which are…
Marginal Costing
It is an utterly different cost accounting method. Under this method, we do not pay attention to the…
Over/ Under Absorbed Overheads
As we have discussed for planning purpose, we need to estimate the overhead absorption rate (OAR) at…
Pre-determined Overhead Rate
Planning and control are the backbones of any cost accounting system. It provides the foundation through…
Absorption Costing
It is one of the most popular cost accounting systems used by the entities to calculate the cost of the…
Methods of Costing
Cost accounting is a wide subject in which various methods are used according to the nature of the business…
Classification of Costs
In a manufacturing concern, various costs are incurred which have different characteristics. By classifying…
Scope of Cost Accounting
Cost accounting scope is very wide. However, this has been described under three headings as follows:
Budgeting
In…
Objectives of Cost Accounting
The main objectives or purpose of cost accounting are as follows:
1. Cost accounting is used to prepare…
Difference Between Cost Accounting and Financial Accounting
Cost accounting and financial accounting are two different branches of accounting. In order to understand…
Deferred Tax
Deferred tax is the very important topic in financial accounting. It arises due to differences in tax…
Events After the Balance Sheet Date
Events After the Balance Sheet Date is an important term used in financial accounting and refers to those…
Financial Analysis
Financial analysis is a broad topic and involves the calculation of various types of financial ratios….
Interest in Join Ventures
Join venture is a contract between more than one parties to carry on an economic operation or activity…
Cconsolidation Accounting for Subsidiaries
In order to qualify the entity as a subsidiary, the required percentage of shareholding is more than…
Accounting for Associates
Associates are the companies over which the other company has significant influence in such a way…
Accounting for Groups
When there are multiple companies exist under the common control, there is a need to consolidate them….
Revenue Recognition
In order to record revenue, there is a specific accounting standard called IAS 18 Revenue Recognition….
Construction Contracts
By Construction Contracts, we mean the contract to build or develop the asset or combination of…
Branch Accounting
Branch is any company or office located at some distance from the head office of the company. This…
Basis of Recording Profit and Loss on Installment Sales
As the installment sales involve profit-earning over a long period of time. The accountant uses two different…
Accounting for Installment Sales
Installment sales is a term used to describe a sale that is done on a deferred payment option. This is…
Amalgamation
Amalgamation is a type of business arrangement in which two or more entities are merged to form a new…
Absorption of Company
Absorption of Company is a way of business arrangement in which an existing company takes over the business…
Capital reduction and reconstruction
Capital reduction and reconstruction is a way to reduce the capital amount of the company. Within the…
Accounting for Leases
A lease is a contract between the lessor and the lessee in such a way that lessor transfer to the…
Difference Between Reserve and Fund
Reserve and funds are the two different items in the financial accounting and as such, they are treated…
Work Sheet – 10 Column Work Sheet
Work Sheet is an important tool to make adjustment in the unadjusted trial balamnce. As a result, adjusted…
Partnership
Partner is an arrangement in which two or more persons agree to share in the profits of the company….
Voucher System
Voucher system is an important tool to summarize all the cash expenditures in the entity. No matter for…
Current Assets
Current asset is a term used to describe the assets from which the entity expects to receive future economic…
Financial Statements MCQS – Multiple Choice Questions
1.Financial statements are mainly made for:
Internal users
External users
Customers of the company
Internal…
Accounting Errors
In preparing the financial statements, the accountant may do some types of errors which is called accounting…
Changes in Accounting Estimate
In order to prepare financial statements, sometimes the management of the entity has to use its best…
Changes in Accounting Principles
Financial statements are prepared over the basis of accounting principles. So, it is the entity’s responsibility…
Notes and Disclosure
On the face of balance sheet, income statement, statement of cash flows and statement of changes in equity,…
Management Discussion and Analysis
Management Discussion and Analysis is denoted by MDA and is a part of annual report. This is an…
Statement of Changes in Equity
Statement of changes in equity is an important financial statement that shows movements in shareholder’s…
Cash Flows from Financing Activities
As we have discussed in previous articles the cash flow statement consists of three components: Operating,…
Cash Flows from Investing Activities
As we have discussed in previous articles that cash flow statement consists of three components: Operating,…
Statement of Cash Flows
It is also called cash flow statement and is one of the main financial statements. Unlike income statement,…
Cash Flow Statement – Indirect Method
In order to prepare cash flow statements, there are two options to present the cash flow from operating…
Cash Flow Statement – Direct Method
In order to prepare cash flow statements, there are two options to present the cash flow from operating…
Extra ordinary item
Extra ordinary items are losses or profits that arises from activities that are of unusual and infrequent…
Statement of retained earnings
Companies that are earning net income, often distribute this to their shareholders in the form of dividends….
Income from Discontinued Operations
Income statements should represent income from continuing operations and discontinue operations to give…
Income Statement by Functions
This is the method of income statement in which expenses are grouped according to their functions or…
Income statement by nature
This is the method of preparing income statement according to the nature of expense. Here, we accountant…
Comprehensive Income
The income statement only shows up revenues that have been realized. So, in order to show up the unrealized…
Operating Segments
In an organization, various products are manufactures or services are offered. In a big entity, operations…
Multi Step Income Statement
It is one of the two most popular income statement preparation methods. The other method is the single-step…
Single Step Income Statement
It is one of the most simple and easy to prepare income statement format. In this approach, we sum up…
Balance Sheet
The balance sheet is an extended representation of the standard accounting equation. It represents the…
Income Statement
The income statement is the term used to define a financial statement component that calculates the profit…
Double Entry Accounting
Double-entry accounting is a method of recording accounting transactions in such a way that one account…
Debit Credit Rules
In order to record transactions in financial accounting, the accountant has to make debit and credit…
Expense Accounts
In order to generate revenue from business operation, the cost incurred is called the expense. It is…
Revenue Accounts
When an entity sells services or products to customers, it records revenue. The point to be noted here…
Equity Accounts
The interest of the owners in the assets of the entity is termed as equity. In the case of an entity…
Liability Accounts
Liability is the obligation of the entity which it needs to pay to settle its debts. When the obligations…
Assets Accounts
Assets in any item from which economic benefits could be derived by an entity. It is the property of…
Special Journals
Some accounting transactions are done repetitively and as a result, if we directly post these transactions…
Subsidiary Ledgers
Subsidiary ledgers are the detailed register or records which provide details about the main general…
Contra Account
The Contra account is the opposite of the normal account which is presented in the balance sheet. Normally,…
T – Account
In order to record the transaction in accounting, accountant needs a storage point. T – Account serves…
Purchase Journal
Purchase journal is like a register which records all the credit purchases. In most of the businesses,…
Financial Transaction
In conducting, numerous types of transactions take place on a daily basis. But, transactions which can…
Expanded Accounting Equation
As it is clear from the name of the topic, when we expand the standard accounting equation further, it…
Accounting Equation
Accounting equation is the basis of double entry system of accounting. In double entry accounting, we…
Journal
Journal is like a register where accountant records all the financial transactions in a debit and credit…
Chart of Accounts
Chart of Accounts is the list of all general ledger accounts which enables the recording of double entry…
Accounting Principles MCQs – Online Quiz – Multiple Choice Questions
We have covered in great details various Accounting Principles. Now it is the time to do some quiz about…
Comparability Concept
Comparability is also an important accounting principle. It requires that financial information…
Consistency Concept
Consistency Concept has fundamental importance in the preparation of financial statements. According…
Understandability Concept
Understandability concept is one of the qualitative accounting principles. This concept requires that…
Prudence Concept
Prudence concept is a fundamental accounting principle which requires the accountant to record the expenses and liabilities as…
Substance over Form
In order to present true and fair view of the financial statements, accountants need to reflect transactions…
Materiality Concept
Materiality is one of the main accounting principles and has a vast effect in the preparation of the…
Relevance and Reliability
Relevance and reliability are the two main accounting principles. By relevance we mean the information…
Matching Principle
Matching principle is one of the fundamental accounting concepts and has great importance as well. It…
Historical Cost Concept
Accounting transactions are recorded on the date when they incur. So, they remain reflected on the value…
Full Disclosure Principle
Full disclosure principle requires that financial statement must disclose all the material information…
Revenue Recognition Principle
Revenue Recognition Principle states that revenue should only be recognized when the risk and rewards…
Time Period Principle
Companies are setup to run for the long term business operations. But as far as the reporting of financial…
Monetary Unit Assumption
Monetary unit assumption is a concept which requires that accounting transactions and relationships can…
Going Concern Concept
Going Concern Concept is the basic concept behind the preparation of financial statements. Every year,…
Business Entity Concept
In accounting, we treat business and the owners two different person. This is we called as Business Entity…
Accrual Concept
Accrual accounting is one of the basic accounting principle and is followed all over the world. According…
Reversing Entries
Reversing entries are the important journal entries in the accounting. It actually helps a…
Preparation of Unadjusted Trial Balance
Trial balance is a simple list of all the balance of the ledger accounts. Usually trial balance is prepared…
Post Closing Trial Balance
Post closing trial balance is just like an adjusted trial balance but the major difference is that it…
Ledger Accounts and Posting to Ledger Accounts
Ledger Accounts and Posting to Ledger Accounts
Ledger accounts are the T accounts. The data are posted…
Journal Entries
Journal Entries
Journal entries are a way to record financial transaction. It simultaneously records…
Compound Journal Entry
Compound Journal Entry
Compound entry or compound journal entry is the combination of two or more simple…
Closing Entries
Closing Entries
Closing entries are the tool to close the temporary accounts and are passed to transfer…
Adjusting Entries
Adjusting Entries
Adjusting entries are passed in order to comply with accrual basis of accounting. This…
Adjusted Trial Balance
Adjusted Trial Balance
As we have discussed that you cannot prepare accounts on the basis of unadjusted…
Income Summary Accounts
Income Summary Account
Income summary account is a temporary account and is used to transfer out balances…
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Real Estate Financing
Pearl Sky Line Apartments Karachi Payment Plan and Photos
Pearl Sky Line Apartments Payment Plan is very economical and easy to pay. This is a project of Al-Sheikh…
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