Depreciation Accounting & Methods

Depreciation is a gradual change in the cost of an asset into revenue expense to be accounted for in the accounts of a particular accounting period. Accounting Standard– 6 has made it mandatory for all commercial organizations. Depreciation should be…

Accounting Process & Stages of Accounting Process

Accounting process refers to the process of identifying, measuring, classifying ,recording, summarising, analysing , interpreting and reporting the financial performance and financial position of the enterprise through financial statements. Stages of accounting process include journalizing transactions, ledger posting, balancing ledger;…

Accounting Concepts, Principles and Convention

Generally accepted accounting principles refers to the rules or guidelines adopted for recording and reporting of business transaction in order to bring uniformity in the preparation and presentation of financial statements . These principles are referred to as concepts and…

General Insurance Underwriting

What is Underwriting ? As per IRDA, “Insurance other than ‘life insurance’ falls under the category of general insurance”. Underwriting is the process of determining the level of risk presented by a proposer and deciding whether to accept the risk…

Health Insurance in India

Health Insurance pays medical expenses that are incurred to the insured due to any variation in their health. Health insurance is different from all other insurances. In other insurances only the insurer and insured is present where as in Health Insurance…