Current accounts were designed for business people, while savings accounts were designed for general salaried people. Also, savings account were created with the purpose of saving money and that’s why provides...

In terms of accounting, the primary difference between the two is that the journal acts at the initial mode of entry for all transactions. The entries are then classified and entered into the ledger. Together...

Tangible assets are assets that have a physical presence; they are the assets that can be touched. Intangible assets refer to assets that do not have a physical presence, i.e. they cannot be touched. In order...

IFRS stands for International Financial Reporting Standards. It was developed by an independent, not-for-profit organization called the International Accounting Standards Board (IASB). The Indian GAAP is...

The IFRS stands for the International Financial Reporting Standards. It was developed by an independent, not-for-profit organization called the International Accounting Standards Board (IASB). The U.S. GAAP or...