"Commerce Edu Hub Team"

What is a Bill of Exchange? Your IOU Note 💌 Imagine your friend borrows ₹5,000 and promises:“I’ll pay you back on 15th December” → That’s a Bill of Exchange (BOE)! Simple Definition: A written promise to pay a specific amount on a fixed date. Real-Life Example:You sell goods to Rohan. Instead of cash, he gives you a signed paper:“I, […]

(Perfect for FYBCom, BBA, and Accounting Students) What are Final Accounts? Think Report Card 📝 Imagine your business is like your college semester: Final Accounts = Financial Report Card showing yearly performance! ✅ Why Adjustments?Like correcting exam answers – we add forgotten items (unpaid rent, unsold stock) to show true results! Image 1: Final Accounts Flow Step 1: Trading

(Fix Accounting Mistakes Like a Pro!) What are Accounting Errors? Imagine writing ₹500 as ₹5,000 in your cash book. That’s an error! Rectification means fixing these mistakes before preparing financial statements. Why it matters: ✅ Golden Rule:Errors found before trial balance → Fix with journal entries! 4 Common Error Types (with Examples) Error Type What Happened? Example 1. Omission Transaction

What is Depreciation? The Lemon Car Story 🍋🚗 magine buying a brand-new car for ₹5,00,000. After 1 year, it’s worth ₹4,00,000. After 5 years, maybe ₹2,00,000. This value drop? That’s depreciation! In Simple Terms: Depreciation = Cost of Asset – Scrap ValueSpread over the asset’s life Why it matters: Two Main Methods: Meet SLM & DBM!

What is BRS? In 1 Minute! Imagine your phone shows ₹10,000 (Cash Book), but your bank app shows ₹9,000 (Pass Book).BRS is your detective tool to find “why?” and fix the gap! ✅ Simple Definition:BRS = Cash Book Balance + Adjustments = Pass Book Balance Why Do Differences Happen? (Real Student Examples) Scenario Cash Book Pass Book

What is a Trial Balance? Imagine you’re checking your phone’s battery: Green = Good, Red = Problem.A Trial Balance is like that for accountants! It’s a worksheet listing all ledger accounts to check: Total Debits (Dr) = Total Credits (Cr).If they match ✅ → Your books are mathematically correct.If not ❌ → Find errors! Remember: Why Do We Need It? Thanks to Double-Entry

What is Ledger Posting? Your Ultimate Guide Ledgers are accounting’s filing cabinets – they organize journal entries into individual accounts to track balances. Without proper ledger posting, you can’t prepare financial statements. Let’s simplify this step-by-step! Why Ledgers Rule Accounting The 3 Superpowers of Ledgers: 📌 Real-Life Analogy:Journal = Raw interview notesLedger = Organized employee file with all details

📘 Introduction: Why Are Journal Entries Important? Whether you’re a student of FYBCom, M.Com, BBA, BBM, MBA, or preparing for NET/SET & PGD, Journal Entries are your starting point in accounting. Every business transaction – big or small – must be recorded systematically. This recording starts from journal entries. In this blog, you’ll learn: 🧾

Unlock Accounting Like a Pro! Confused why some accounts get debited while others get credited? Every financial transaction follows 3 simple Golden Rules. Think of them as your GPS for navigating accounting – they tell you exactly where to record money coming in or going out. Let’s break them down step-by-step! Understanding the 3 Account

📘 Why Learn Basic Accounting Terms? If you’re new to commerce or preparing for exams like UGC NET/SET, M.Com entrance, or MBA, learning the language of accounting is your first step. Accounting is not just about numbers—it’s about understanding how a business speaks. And that language is built on these core terms. Knowing these terms