ACCOUNTING CONCEPT, Accounting Basics

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What is the implication of applying accounting concepts wrongly?

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Accrual method, Answer the following questions in 200 to 300 words: ...

Answer the following questions in 200 to 300 words: · Nonprofit organizations are required to produce financial statements based on the accrual method of accounting

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A great tool to import and certify transaction data from other financial systems and make invoices debit memos credit memos and on-account credits Setup steps: 1. Describe th

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Q. What is Timeliness? The Timeliness requires accountants to provide accounting information at a time when it perhaps considered in reaching a decision. Usefulness of informat

Transactions affecting only the balance sheet, Q. Transactions affecting on...

Q. Transactions affecting only the balance sheet? Since every transaction affecting a business entity must be recorded in the accounting records analyzing a transaction before

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Q. Explain about Trial balance? Trial balance -- at the close of an accounting period, transactions posted in the ledger areadded up. A trial or test balance sheet is prepared

What do you mean by liabilities, Q. What do you mean by Liabilities? Li...

Q. What do you mean by Liabilities? Liabilities are the debts outstanding by a business. Usually a business should pay its debts by certain dates. A business acquires many of i

Why we need book value, Q. Why we need book value? Book value -- total ...

Q. Why we need book value? Book value -- total assets minus total liabilities. Book value also meansvalue of an asset as recorded on the company's financial reports or books. B

Prepare data flow diagrams, Examine the present system and recoginize speci...

Examine the present system and recoginize specific weaknesses that must be addressed by a new improved system. As part of your analysis, prepare data flow diagrams (context, log

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