{"id":512,"date":"2019-04-12T20:46:18","date_gmt":"2019-04-12T20:46:18","guid":{"rendered":"https:\/\/commerceiets.com\/?p=512"},"modified":"2019-04-12T20:46:18","modified_gmt":"2019-04-12T20:46:18","slug":"hire-purchase-accounting-notes-pdf","status":"publish","type":"post","link":"https:\/\/commerceiets.com\/hire-purchase-accounting-notes-pdf\/","title":{"rendered":"HIRE PURCHASE ACCOUNTING NOTES PDF"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/commerceiets.com\/hire-purchase-accounting-notes-pdf\/#HIRE_PURCHASE\" title=\"HIRE PURCHASE\">HIRE PURCHASE<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/commerceiets.com\/hire-purchase-accounting-notes-pdf\/#CONDITIONS_OF_HIRE_PURCHASE_AGREEMENT\" title=\"CONDITIONS OF HIRE\nPURCHASE AGREEMENT\">CONDITIONS OF HIRE\nPURCHASE AGREEMENT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/commerceiets.com\/hire-purchase-accounting-notes-pdf\/#FEATURES_OF_HIRE_PURCHASE_AGREEMENT\" title=\"FEATURES OF HIRE\nPURCHASE AGREEMENT\">FEATURES OF HIRE\nPURCHASE AGREEMENT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/commerceiets.com\/hire-purchase-accounting-notes-pdf\/#ACCOUNTING_TREATMENT\" title=\"ACCOUNTING\nTREATMENT\">ACCOUNTING\nTREATMENT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/commerceiets.com\/hire-purchase-accounting-notes-pdf\/#IN_THE_BOOKS_OF_THE_HIRE_PURCHASER\" title=\"IN THE BOOKS OF THE HIRE PURCHASER \">IN THE BOOKS OF THE HIRE PURCHASER <\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/commerceiets.com\/hire-purchase-accounting-notes-pdf\/#ASSET_ACCRUAL_METHOD\" title=\"ASSET ACCRUAL METHOD\">ASSET ACCRUAL METHOD<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/commerceiets.com\/hire-purchase-accounting-notes-pdf\/#TOTAL_ASSETS_VALUE_METHOD\" title=\"TOTAL ASSETS VALUE METHOD\">TOTAL ASSETS VALUE METHOD<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/commerceiets.com\/hire-purchase-accounting-notes-pdf\/#POSTING_IN_LEDGER_ACCOUNTS\" title=\"POSTING IN LEDGER ACCOUNTS\">POSTING IN LEDGER ACCOUNTS<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/commerceiets.com\/hire-purchase-accounting-notes-pdf\/#IN_THE_BOOKS_OF_THE_HIRE_VENDOR\" title=\"IN THE BOOKS OF THE\nHIRE VENDOR\">IN THE BOOKS OF THE\nHIRE VENDOR<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/commerceiets.com\/hire-purchase-accounting-notes-pdf\/#DIFFERENCE_BETWEEN_HIRE_PURCHASE_SYSTEM_AND_INSTALMENT_SYSTEM\" title=\"DIFFERENCE BETWEEN HIRE PURCHASE SYSTEM AND INSTALMENT SYSTEM\">DIFFERENCE BETWEEN HIRE PURCHASE SYSTEM AND INSTALMENT SYSTEM<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/commerceiets.com\/hire-purchase-accounting-notes-pdf\/#CONCLUSION\" title=\"CONCLUSION\">CONCLUSION<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"HIRE_PURCHASE\"><\/span><strong>HIRE PURCHASE<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h1>\n\n\n\n<p class=\"has-medium-font-size\">Hire Purchase system is a system in which the goods are delivered to the purchaser at the time of agreement before the payment of instalments. However, the title of the goods is transferred after the payment of all instalments as per the hire purchase agreement.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">It is a special\nsystem of purchase and sale of goods. Under this system the purchaser pay the\nprice of goods in instalments.<\/p>\n\n\n\n<h2 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"CONDITIONS_OF_HIRE_PURCHASE_AGREEMENT\"><\/span><strong>CONDITIONS OF HIRE\nPURCHASE AGREEMENT<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul><li>Hire\npurchase is a transaction where the goods are sold by vendor to the purchaser\nunder the following conditions:<\/li><li>The\ngoods will be delivered to the purchaser at the time of the agreement<\/li><li>The\npurchaser has a right to use the goods delivered<\/li><li>The\nprice of the goods will be paid in the instalments.<\/li><li>Every\ninstalment will be treated to be the hire charges of the goods which is being\nused by the purchaser.<\/li><li>If\nall the instalments are paid as per the terms of agreement, the title of the\ngoods is transferred by the vendor to the purchaser.<\/li><li>If\nthere is default in the payment of any of the instalments, the vendor will take\naway the goods from the possession of the purchaser without refunding him any\namount received earlier in the form of instalments.<\/li><\/ul>\n\n\n\n<h2 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"FEATURES_OF_HIRE_PURCHASE_AGREEMENT\"><\/span><strong>FEATURES OF HIRE\nPURCHASE AGREEMENT<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-medium-font-size\"><strong>1. TRANSFER OF POSSESSION ONLY:<\/strong> The hire vendor transfers only the possession of goods to the hire purchaser immediately after the agreement of hire purchase is made.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>2. GOVERNING ACT:<\/strong> Hire purchase system is governed under the Hire Purchase Act, 1972. This act came into force on 1 September, 1973.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>3. CREDIT PURCHASE:<\/strong> Hire purchase is a system of credit purchase. It implies that the goods are sold for payment that is to be done in future period of time.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>4. TERMINOLOGY:<\/strong> The terms used in the agreement of hire purchase are:<\/p>\n\n\n\n<ul><li><strong><em>Hire Purchaser:<\/em><\/strong> The buyer in the hire purchase agreement who purchases the goods on hire basis<\/li><li><strong><em>Hire Vendor:<\/em><\/strong> The seller in the hire purchase agreement who sell the goods on the hire basis.<\/li><li><strong><em>Cash Payment:<\/em><\/strong> The amount to be paid on outright purchase in cash.<\/li><li><strong><em>Down Payment:<\/em><\/strong> Initial payment made at the time of signing the hire purchase agreement. <\/li><li><strong><em>Hire Purchase Price:<\/em><\/strong> The amount to be paid if the goods are purchased under the hire purchase system. It includes cash price and interest on future instalments.<\/li><\/ul>\n\n\n\n<p class=\"has-medium-font-size\"><strong>5. RIGHT TO TERMINATE:<\/strong> The hire purchase has a right to terminate the agreement at any time in the capacity of a hirer.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>6.<\/strong> Goods should be delivered in the possession of the purchaser at the time of commencement of agreement.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>7.<\/strong> Hire Vendor continues to be the owner of the goods as the last payment of instalment is over.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>8.<\/strong> If there is default in the payment of any instalment, the hire vendor will take away the goods from the possession of the purchaser without refunding him any amount.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>9.<\/strong> Each instalment consists of partly interest and part of capital payment.<\/p>\n\n\n\n<h2 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"ACCOUNTING_TREATMENT\"><\/span><strong>ACCOUNTING\nTREATMENT<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-medium-font-size\">The accounting treatment is as under: <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"IN_THE_BOOKS_OF_THE_HIRE_PURCHASER\"><\/span><strong>IN THE BOOKS OF THE HIRE PURCHASER<\/strong> <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-medium-font-size\">There are two methods of accounting in the books of the hire purchaser: <\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"773\" height=\"292\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/2019-04-12-2.png\" alt=\"\" class=\"wp-image-513\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/2019-04-12-2.png 773w, https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/2019-04-12-2-300x113.png 300w, https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/2019-04-12-2-768x290.png 768w\" sizes=\"(max-width: 773px) 100vw, 773px\" \/><\/figure>\n\n\n\n<h4 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"ASSET_ACCRUAL_METHOD\"><\/span><strong>ASSET ACCRUAL METHOD<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"has-medium-font-size\">Under\nthis method it is considered that the hire purchaser is the owner of the asset up\nto the value of cash price paid by him in the form of down payment or the cash\nprice paid included in the various instalments.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">The journal entries are recorded under this method are: <\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"872\" height=\"467\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/2019-04-12-5.png\" alt=\"\" class=\"wp-image-514\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/2019-04-12-5.png 872w, https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/2019-04-12-5-300x161.png 300w, https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/2019-04-12-5-768x411.png 768w\" sizes=\"(max-width: 872px) 100vw, 872px\" \/><\/figure>\n\n\n\n<h4 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"TOTAL_ASSETS_VALUE_METHOD\"><\/span><strong>TOTAL ASSETS VALUE METHOD<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"has-medium-font-size\">Under this method of accounting in the books of hire purchaser, is done on the assumption that the ownership of the asset is also transferred to the purchaser with the delivery of goods. The journal entries to be passed are: <\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"879\" height=\"493\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/2019-04-12-7.png\" alt=\"\" class=\"wp-image-516\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/2019-04-12-7.png 879w, https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/2019-04-12-7-300x168.png 300w, https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/2019-04-12-7-768x431.png 768w\" sizes=\"(max-width: 879px) 100vw, 879px\" \/><\/figure>\n\n\n\n<h4 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"POSTING_IN_LEDGER_ACCOUNTS\"><\/span><strong>POSTING IN LEDGER ACCOUNTS<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"has-medium-font-size\">After passing the\njournal entries, the accounts opened in the ledger are as follows:<\/p>\n\n\n\n<ul><li>Asset\na\/c<\/li><li>Vendor\u2019s\na\/c<\/li><li>Interest\na\/c<\/li><li>Depreciation\na\/c<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"IN_THE_BOOKS_OF_THE_HIRE_VENDOR\"><\/span><strong>IN THE BOOKS OF THE\nHIRE VENDOR<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-medium-font-size\">There is only one method to record the journal entries in the books of hire vendor. The journal entries are as follows:<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"859\" height=\"522\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/2019-04-12-8.png\" alt=\"\" class=\"wp-image-517\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/2019-04-12-8.png 859w, https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/2019-04-12-8-300x182.png 300w, https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/2019-04-12-8-768x467.png 768w\" sizes=\"(max-width: 859px) 100vw, 859px\" \/><\/figure>\n\n\n\n<h2 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"DIFFERENCE_BETWEEN_HIRE_PURCHASE_SYSTEM_AND_INSTALMENT_SYSTEM\"><\/span><strong>DIFFERENCE BETWEEN HIRE PURCHASE SYSTEM AND INSTALMENT SYSTEM<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"550\" height=\"524\" src=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/difference-hire-purchase-nd-instalmnt-system.png\" alt=\"\" class=\"wp-image-529\" srcset=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/difference-hire-purchase-nd-instalmnt-system.png 550w, https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/difference-hire-purchase-nd-instalmnt-system-300x286.png 300w\" sizes=\"(max-width: 550px) 100vw, 550px\" \/><\/figure>\n\n\n\n<h2 class=\"has-text-align-center wp-block-heading\"><span class=\"ez-toc-section\" id=\"CONCLUSION\"><\/span><strong>CONCLUSION<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-medium-font-size\">In the essence. the hire purchase system is suitable for the buyers who need the asset for the short period or are not sure of long term needs. The cushion of returning of the asset gives them leverage.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Instalment system is useful for those who are sure of utilizing the asset till its lifetime and those who are capable of taking the responsibility of assets in terms of its repairs and maintenance and wear and tear. <\/p>\n\n\n\n<div class=\"wp-block-file\"><a href=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/HIRE_PURCHASE_SYSTEM-1.pdf\">HIRE_PURCHASE_SYSTEM_PDF<\/a><a href=\"https:\/\/commerceiets.com\/wp-content\/uploads\/2019\/04\/HIRE_PURCHASE_SYSTEM-1.pdf\" class=\"wp-block-file__button\" download>Download<\/a><\/div>\n\n\n\n<p>JOIN THE CHANNEL ON TELEGRAM<\/p>\n\n\n\n<p><a href=\"https:\/\/t.me\/commerceiets\" target=\"_blank\">https:\/\/t.me\/commerceiets<\/a><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><td><strong>Also Study<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting\/\"><strong>Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/non-profit-organisation\/\"><strong>Non profit organisation<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/depreciation\/\"><strong>Depreciation<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/liquidity-ratios-types\/\"><strong>Liquidity ratios<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/nature-of-accounting\/\"><strong>Nature of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/receipt-and-payment-account-pdf\/\"><strong>Receipts and Payments Account<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/depreciation-accounting\/\"><strong>Depreciation Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/acid-test-ratio-formula\/\"><strong>Acid Test Ratio<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/benefits-of-accounting\/\"><strong>Benefits of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/scope-of-accounting\/\"><strong>Scope of accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/hire-purchase-accounting-notes-pdf\/\"><strong>Hire Purchase Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/cash-ratio\/\"><strong>Cash Ratio<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/difference-between-cost-accounting-and-financial-accounting\/\"><strong>Difference between cost accounting and financial accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-financial-accounting-management-accounting-and-cost-accounting\/\"><strong>Financial accounting, cost accounting and management accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-hire-purchase-and-instalment\/\"><strong>Difference between hire purchase and instalment system<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/financial-ratio-analysis\/\"><strong>Financial ratio analysis<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/difference-between-transaction-and-event\/\"><strong>Difference between transaction and event<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/transactions\/\"><strong>Transactions<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/users-of-accounting\/\"><strong>Users of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/current-ratio-formula\/\"><strong>Ratio analysis<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/limitations-of-accounting-2\/\"><strong>Limitation of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/capital-expenditure\/\"><strong>Capital Expenditure<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/instalment-system\/\"><strong>Instalment System<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-consignment-and-sale\/\"><strong>Difference between consignment and sale<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/book-keeping\/\"><strong>Book Keeping<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/revenue-expenditure\/\"><strong>Revenue Expenditure<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/reserves-accounting\/\"><strong>Reserves Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-normal-and-abnormal-loss\/\"><strong>Abnormal loss vs normal loss in consignment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accountancy\/\"><strong>Accountancy<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-capital-expenditure-and-revenue-expenditure\/\"><strong>Difference between capital and revenue expenditure<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/reserves-accounting\/\"><strong>Provisions&nbsp;<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/treatment-of-loss-on-consignment\/\"><strong>Treatment of loss on consignment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-is-an-art-or-science\/\"><strong>Accounting as science or an art<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-equation\/\"><strong>Accounting Equation<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/single-entry-system-in-accounting\/\"><strong>Single entry system<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-treatment-of-consignment\/\"><strong>Accounting treatment of consignment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-is-an-art-or-science\/\"><strong>Book Keeping vs accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/deferred-revenue-expenditure\/\"><strong>Deferred Revenue Expenditure<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/statement-of-affairs-and-balance-sheet-difference\/\"><strong>Difference between statement of affairs and balance sheet<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-joint-venture-and-consignment\/\"><strong>Joint venture vs consignment<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-is-an-art-or-science\/\"><strong>Book keeping vs accountancy<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/capital-receipt\/\"><strong>Capital receipt<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/ifrs\/\"><strong>IFRS<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/departmental-accounting\/\"><strong>Departmental Accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-is-an-art-or-science\/\"><strong>Accounting vs accountancy<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/revenue-receipt\/\"><strong>Revenue receipt<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/balance-sheet\/\"><strong>Balance Sheet<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/methods-of-departmental-accounting\/\"><strong>Methods of departmental accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/basis-of-accounting\/\"><strong>Basis of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-capital-and-revenue-receipt\/\"><strong>Difference between capital and revenue receipt<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/profit-and-loss-account\/\"><strong>Profit and loss Account<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/allocation-of-expenses-in-departmental-accounting\/\"><strong>Allocation of expenses in departmental accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/branches-of-accounting\/\"><strong>Branches of accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-accounting-concepts-and-conventions\/\"><strong>Difference between accounting concepts and conventions<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/trading-account\/\"><strong>Trading Account<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/inter-departmental-transfers\/\"><strong>Inter-departmental transfers<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/cash-and-mercantile-system-of-accounting\/\"><strong>Cash and mercantile system of accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-standards\/\"><strong>Accounting Standards<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/voyage-account\/\"><strong>Voyage Account<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/different-types-of-branches\/\"><strong>Different types of branches<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/accounting-principles\/\"><strong>Accounting Principles<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/objectives-of-accounting\/\"><strong>Objectives of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/accounting-for-incomplete-voyage\/\"><strong>Accounting for Incomplete Voyage<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-departmental-and-branch-accounting\/\"><strong>Departmental vs Branch accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/golden-rules-of-accounting\/\"><strong>Golden ru\nles of accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/process-of-accounting\/\"><strong>Process of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/joint-venture\/\"><strong>Joint venture<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/methods-of-branch-accounting\/\"><strong>Methods of branch accounting<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/double-entry-system-of-accounting\/\"><strong>Double entry system of book keeping<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/scope-of-accounting\/\"><strong>Scope of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-joint-venture-and-partnership\/\"><strong>Joint Venture Vs Partnership<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/incorporation-of-branch-trial-balance\/\"><strong>Incorporation of branch trial balance<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/difference-between-double-single-entry-system\/\"><strong>Double entry vs Single entry system<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-accounting-concepts-and-conventions\/\"><strong>Accounting Concepts vs Accounting conventions<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/methods-of-recording-transactions-in-joint-venture\/\"><strong>Methods of recording transactions in Joint Venture<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/garner-vs-murray-rule\/\"><strong>Garner VS Murray Rule<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/commerceiets.com\/history-of-accounting-pdf\/\"><strong>History of Accounting<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/difference-between-provisions-and-reserves\/\"><strong>Difference between provisions and reserves<\/strong><\/a><\/td><td><a href=\"https:\/\/commerceiets.com\/consignment\/\"><strong>Consignment<\/strong><\/a><\/td><td><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>HIRE PURCHASE Hire Purchase system is a system in which the goods are delivered to the purchaser at the time of agreement before the payment of instalments. However, the title of the goods is transferred after the payment of all instalments as per the hire purchase agreement. It is a special system of purchase and&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/commerceiets.com\/hire-purchase-accounting-notes-pdf\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;HIRE PURCHASE ACCOUNTING NOTES PDF&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":547,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[15],"_links":{"self":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/512"}],"collection":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/comments?post=512"}],"version-history":[{"count":0,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/posts\/512\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media\/547"}],"wp:attachment":[{"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/media?parent=512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/categories?post=512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/commerceiets.com\/wp-json\/wp\/v2\/tags?post=512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}