Bases of Accounting

Bases of Accounting

Definition of Commercial Accounting

Commercial Accounting is a concept which also has another title known as profit accounting has a strong relationship with both components that are profit and loss. The organization that reports a profit is usually communicated to investors. The second concept known as Fund Accounting is totally opposite with the functions of the Commercial Accounting works for the non-profit business activities. This type of accounting is usually used by the Local and State Governments. The concept of commercial accounting is used by most of the private organizations that works for the profit objective. The Government ...