Financial accounting Lesson no 3 Short Notes
1 Cash accounting
2 Accural accounting
Learning Objectives
What is Cash and Accural accounting
What is income Expenses
Profit Or Net Profit
What is Cash in hand and Profit
What is Capital expenses and Revenue Expenses
What is Liability
Cash accounting
It is the accounting system in which event are recorded when actual cash is recieved or paid
Accural accounting
It is the accounting system in which event are recorded when actual cash is recieved or paid
It is the accounting system in which events are recorded as and when they occur
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