The Accounting Equation Explained

The Accounting Equation Made Easy: Balancing Your Business Like a Pro

Ever wondered how businesses keep track of their financial health? It all boils down to a powerful equation – the accounting equation. Think of it …

Read More

Why is there a need for accounting standards?

Why is there a need for accounting standards?

Ever tried following a recipe where everyone uses different measuring cups? One cup of flour here, a handful of sugar there – recipe for disaster! …

Read More

cost concept

Cost Concept in Accounting: Understanding its Role and Implications

The cost concept, also known as the historical cost principle, is a fundamental accounting principle that states that assets should be recorded in the financial …

Read More

going concern concept

Going Concern Concept: Understanding its Significance in Accounting

The going concern concept is a fundamental principle in accounting that assumes a business will continue to operate indefinitely, without any intention or necessity of …

Read More

Generally Accepted Accounting Principles

What are Generally Accepted Accounting Principles (GAAP)?

Hey there! Let’s chat about something super important in the world of finance: Generally Accepted Accounting Principles, or GAAP for short. Picture GAAP as the …

Read More

Debtors and creditors

Debtors and Creditors: Balancing Assets and Liabilities in Accounting

Debtors and creditors are integral components of a business’s financial ecosystem. Understanding their roles, responsibilities, and interactions are vital for effective financial management, cash flow …

Read More


Drawings Simplified: Fundamental Concepts for Business Equity

Drawings in accounting refer to the withdrawals or removal of assets, typically cash, from a business by its owner(s) for personal use. These withdrawals represent …

Read More


Purchases Simplified: Fundamental Concepts in Accounting

In accounting, purchases refer to transactions where a business acquires goods or services for its operations. These transactions are vital for tracking expenses and determining …

Read More


What are vouchers and its types?

Vouchers are negotiable instruments that represent a certain monetary value or entitlement to specific goods or services. They are often issued by retailers, businesses, or …

Read More

Expenditure vs. Expense

Expenditure vs. Expense: A Closer Look at Financial Transactions

Expenditure vs. Expense – They are both financial terms related to spending money, but they have different meanings and implications. Expenditure Expenditure refers to the …

Read More

How can we help you?

We are a group of professionals from accounting background happy to help individuals achieving their financial goals.

About us Contact Us

© 2024 | MoneyQuate | All Rights Reserved