Double-Entry Accounting
A bookkeeping system where every transaction affects at least two accounts, keeping the accounting equation (Assets = Liabilities + Equity) balanced. One account is debited, and another is credited. It ensures accuracy and is the foundation of modern accounting.
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Debentures
Debenture is a type of long-term debt instrument issued by companies to raise capital, typically backed by the issuer’s creditworthiness…
Draft
Draft is a written order from one party (drawer) to another (drawee) to pay a specific sum to a third…
Discount on Sales or Purchases
A reduction in the price of goods or services, either as a sales incentive (sales discount) or a reward for…
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