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Published on 13 Jan 2026

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Elements of Financial Statements Explained in Simple Words

Learn the five elements of financial statements—assets, liabilities, equity, income and expenses—with clear explanations and easy examples.

Sowmya

Published on 13 Jan 2026

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Qualitative Characteristics of Financial Statements

Understand the qualitative characteristics of financial statements such as relevance, reliability, understandability and comparability in simple terms.

Sowmya

Updated on 13 Jan 2026

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Fundamental Accounting Assumptions Explained Clearly

Learn the meaning of fundamental accounting assumptions like going concern, accrual basis and consistency with simple examples and clear explanations.

Sowmya

Updated on 13 Jan 2026

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Components & Users of Financial Statements Explained

Understand the components of financial statements and the users who rely on them, explained clearly with real-world relevance and examples.

Sowmya

Updated on 13 Jan 2026

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Framework for Financial Statements: Meaning & Purpose

Learn the meaning, purpose, and importance of the Framework for Preparation and Presentation of Financial Statements with clear explanations in simple lang